- Q: With what types of clients do you work?
Our clientele includes individuals, families and institutions:
- Regional pension and employee benefit plans
- Retirement plans for closely held corporations, including 401(k) plans
- Generational wealth created from the sale of family businesses
- Individuals receiving distributions from corporate retirement plans and IRA rollovers
- Surviving spouses managing proceeds from estates
- Entrepreneurs and professionals too busy to manage their own portfolios
- Trusts created through estates
- Q: How are you compensated for your services?
WWP is an independent investment advisory firm. In this capacity, we provide our clients a fee-only fiduciary relationship. Our compensation is based on a percentage of the portfolio we are managing, so we share a common interest with you in preserving and growing your wealth.
- As a percent of assets under management, our fees starting between 0.6-1% per annum. This asset based fee is subject to an annual minimum.
- Fee-only means we only receive compensation directly from our clients. No kickbacks, no commissions, no lavish sales trips to the Bahamas.
- Further details about our fee schedules can be found below on our Form ADV (see blue footer).
- Q: What makes your firm different than the others?
Many things, but here are three of the most important:
- We are independent and objective and quick to disclose a conflict of interest if we have one.
- We are owned by our key team members. That makes us stable and self-interested in your success. It also means the same team will be working closely with you for a long, long time.
- We operate as an ensemble where our entire team of advisors and staff is available to you.
- Q: Do you have a minimum account size?
Not explicitly, but our services are best suited for those with $400,000 or more to invest (across all investment accounts). We will, under some circumstances, consider exceptions.
- Q: How do you work and what are the custody options?
We generally work through a Limited Power of Attorney (LPOA) that allows us to interact on your behalf with a custodian to execute trades and manage your account.
- WWP does not hold your securities or cash (unless clients opt to invest in private fund investments).
- For your protection, custody of all assets and cash remains with an independent custodian, typically a large discount broker (Charles Schwab & Co., Inc.), or a bank or trust company, depending on your needs (unless clients opt to invest in private fund investments).
- Your custodian provides separate, independent reporting of all balances and securities transactions.
- Q: Will you customize an investment plan exclusively for me?
We provide clients with handcrafted, individually managed investment portfolios.
- To attain your specific goals and still meet your risk profile, we create a tailored mix of equity and fixed income investments for your portfolio.
- As your life situation changes, we may recommend adjustments to your investment strategy, so that your investment dollars are appropriately protected and your long-term goals are met.
- Q: What is your investment philosophy and management style?
At the core of our philosophy is the belief that investing is fundamentally a long-term process, and investors are rewarded for maintaining a consistent and disciplined strategy. We concentrate on achieving growth through the compounding of consistent returns over time, rather than meeting expectations for short-term gains.
- Q: What types of investment vehicles do you normally use?
We believe families and individuals with significant wealth can benefit from the rigor and sophistication that typically characterizes institutional portfolio management. Our approach emphasizes asset allocation and diversification, executed through the careful selection and management of mutual funds, exchange traded funds, and private placements. We balance active management with low-cost passive funds to achieve broad diversification and attractive risk-adjusted returns, while keeping investment costs and turnover low.
- Q: How will you keep me involved in decisions affecting my portfolio and investment goals?
Our management system features consistent communication with each client:
- We meet with you periodically to update your objectives and risk profile.
- You receive comprehensive quarterly reports, detailing positions and time-weighted rate of return calculation, net of all costs, including comparisons to appropriate benchmarks.
- We provide detailed tax reporting data as needed, and are available for discussions with your tax advisors.
- You receive our quarterly investment newsletter.
- You receive telephone access to our mid-quarter investment and economic commentary.
- Monthly statements are provided by the custodian of your account(s), along with transaction confirmations on purchases and sales.
- We are available to discuss any questions or concerns you might have.
- Q: How will I have access to my account?
If you need stable monthly income, we can set up periodic distributions into your personal checking account. Checks can also be mailed or funds transferred, as needs arise. Information about your account is provided as a matter of course and in several ways:
- As a WWP client, your account is setup with a third-party custodian, whom we will choose and who will provide information concerning your account.
- WWP and most custodians provide account access through the Internet. This is an immediate and convenient way to keep fully apprised of the most current status of your account and help you plan for tax reporting.
- Access through the WWP website is extremely private, utilizing a Virtual Safe feature that is available only to you.
- Q: What’s a fiduciary?
A fiduciary has the highest ethical obligation to put your interests ahead of the advisor’s compensation or any other consideration. WWP is a fiduciary – this is fundamental and we wouldn’t have it any other way.
- Q: Why do I need a wealth advisor? Can’t I do all this myself?
You could. You could also perform your own root canal, but it would probably go a lot more smoothly and be less painful if you hired a professional. The planning and investing discipline we provide will align your financial goals with your existential ones, and liberate you from layers of stress.
- Q: Who’s an ideal WWP client?
We have clients of all ages and attitudes. If there’s a consistent thread, it’s that they like working directly with our people. They also like the way we combine intellectual ferocity with genuine humor, warmth and care.