Frequently Asked Questions - Eliot•Rose Wealth Management

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Do you adhere to a specific investment style or philosophy?

Yes, at our core we pride ourselves in being value investors. As value investors, our goal is to find companies whose stock prices do not reflect their fundamental worth.

The reasons for stocks being undervalued by the market can vary. Sometimes a company is not fully understood by Wall Street. Other times a company may have missed analyst expectiations or a specific event may temporarily reduce a company's stock price. This creates long-term buying opportunities and allows us to invest in a stock with strong margins of safety. Over the long-term, the value investment approach can create significant wealth while paying careful attention to downside protection.

What is a Certified Financial Planner (CFP®)?

The CFP designation is the highest credential in the financial planning industry. The below is a quote taken from the CFP site:

Today more than ever, CFP® professionals are an essential resource. From budgeting, to planning for retirement, to saving for education, to managing your taxes and your insurance coverage; “finances” doesn’t mean just one thing for most Americans — and “financial planning” means much more than just investing. Bringing all the pieces of your financial life together is a challenging task.

Although many professionals may call themselves “financial planners,” CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards. They understand all the complexities of the changing financial climate and will make recommendations in your best interest.

What is a Charted Financial Analyst (CFA)?

The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American-based CFA Institute to investment and financial professionals. A candidate who successfully completes the program and meets other professional requirements is awarded the "CFA charter" and becomes a "CFA charterholder".

The CFA exams are widely considered to be extremely difficult, with historical pass rates as low as 32%, and pass rates sometimes below 50% for each of the three levels in the same given year. Successful candidates take an average of four years to earn their CFA charter. The program covers a broad range of topics relating to investment management, financial analysis, stocks, bonds and derivatives, and provides a generalist knowledge of other areas of finance.

Who do you use as your custodian?

Charles Schwab Institutional Services is our custodian. Schwab is considered a leader in the field. For those of you not familiar with the business, a custodian is the organization or bank that houses your money and stock holdings. Whoever you chose to work with, we recommend to always make sure your advisor is using a custodian – it is a sign of good corporate governance and safeguards your assets from firm malfeasance.

Is there a minimum investment amount needed to become an Eliot Rose client?

There is a $100,000 minimum to become an investment management client. Our financial planning fees start at $2,500.    

Are you a fiduciary?

Yes. Our fiduciary standard requires us to put our client's interests first. Please see our blog article further detailing this point: Is Your Financial Advisor Working In Your Best Interest?

When I want to add to an existing account who do I make checks payable to and where do I mail them?

You can add to your account at any time. If you choose to do so, please make a check made payable to “Charles Schwab & Co.” and reference your account number in the memo field. If you are adding to an IRA account, please reference the contribution year. The check should be mailed to the Eliot Rose office at the following address:

Eliot Rose Wealth Management, LLC
1000 Chapel View Blvd, Suite 240
Cranston, Rhode Island 02920
We can also facilitate electronic funds transfer.

If you intend to withdraw funds, if possible, please let us know in advance to minimize disruptions to your account.

How often will we speak as a client?

We will speak as often or as little as you like. We make outgoing calls regularly throughout the year, but feel free to call when you need us. In addition to calls, we frequently communicate with our clients through social media, newsletters, emails, and videos.

How can I access account-related information?

You have access to all your account-related information (performance, holdings, statements, documents, and more) through our secure client portal. You can also login to Schwab to view your balance in real time. To login to either account, please click here.

Once you become a client we will grant you access to your secure client portal. To view your account online through Schwab, please visit Schwab Alliance and click on “New Users” on the right, it will walk you through the process of creating an online account.  If you have any difficulty, you can speak directly with a Schwab representative at (800) 515-2157. You would press #3 to speak with a representative, and when prompted, enter an account number.   

 Our custodian, Charles Schwab & Company (Schwab), mails account statements on a monthly basis. In addition, prior to February 15th, Schwab will mail out a 1099 that includes a realized gain/loss report for your tax planning and preparation.

I know someone who would could use your help. How should I go about making the referral?

Referrals are always appreciated. When you refer someone to us, please know that we will never share any of your personal financial data. Making the referral is as simple as providing us with his/her contact information. From there, we will have a discovery meeting and determine if we are a good fit to move forward.  

How are you compensated?

We have a fee-only business model. This means that we are only paid by our clients. We do not accept compensation or commission from other sources. This allows us to remain unbiased and provide advice and counsel in our clients' best interests.

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