Frequently Asked Questions
“Vestnomics” is the combination of two words, investment and economics. Today, people must be invested in their personal economy. At Vestnomics, we want to be your personal economic advisors.
No, we are an independent registered investment advisor firm. We are neither a broker nor affiliated with a broker. This means we can be more objective in the advice we offer our clients. We use the services of a custodian for your marketable securities.
A custodian is a company that has physical possession of your assets. As an independent registered investment advisor, we direct investments but do not have custody or possession of your money. Checks are made payable to and deposited directly with a custodian.
After much research and careful consideration, Vestnomics chose TD Ameritrade Institutional as custodian. Securities held in TD Ameritrade Institutional accounts have protection in the Securities Investor Protection Corporation (SIPC) of up to $500,000, with excess SIPC protection against brokerage insolvency of up to $250Million from third party insurers (note, this coverage does not protect against a decline in market value of securities). Further, TD Ameritrade is a leader in trade execution, which could have a positive affect on your results.
Yes. At Vestnomics, we can create financial plans for a particular area of concern or a more comprehensive plan. We strongly suggest our clients participate in planning services as it allows for better understanding of a client’s goals and objectives and provides a better basis for advice.
Yes, we do. This is part of being your personal economic advisors. We would like to see all our clients participate in the financial planning process. We can provide planning services on a per hour or flat fee basis. Our fee is based on the estimated number of hours to complete a plan. For most families, the fee for a financial planning engagement will run between $600 to $1200. If a case is more complex or requires additional research, the cost could increase.
Yes. We can provide talks on various financial topics for your group. We can also provide seminars on workplace education topics such as retirement plan participation.
Financial Advisors work with people at all income levels and ages. In the past, there were very few investment options available for the average person. Many people worked at one job and received a defined pension at retirement. Today, there are a large number of options available to everyone. New retirement options, longer lives, better health, and easy availability of credit cards has made it more difficult for people to save and invest to reach their goals. Financial Advisors act as your financial coach. Their goal is to help you reach your goals.
Financial planning is not only about investing. Not everyone starts out rich. A good advisor realizes the importance of financial planning to help clients reach their goals using a variety of methods. Further, your comprehensive plan will provide additional information as to the recommendations made by your advisor.
Not at Vestnomics. You maintain control of your money. While an advisor will propose a solution to a particular issue, a good advisor can also give you options and alternatives. Your advisor is your coach, but you make the final decision.
Every business has its own vocabulary, and sometimes it is necessary to use words specific to working with some aspect of financial planning. However, a good advisor will take the time to answer questions you may have and do so in a clear manner. Even the best of advisors do not have all the answers. If your advisor does not have an answer to your question, he or she should be willing to find an answer if one exists.