Q: Do I need to be located near your office to be a client?
While we are located in the Chicago area, we work with clients wherever they are located and can work with them in person.
Q: HOW DOES LCV ADVISORS EARN ITS FEES?
As a fee-only RIA, LCV Advisors are paid by managing investable assets or a flat fee for financial planning services. For more information about our fee structures, click here.
Q: DO YOU SPECIALIZE IN A CERTAIN TYPE OF CLIENT?
We primarily work with individuals and families between their early thirties and mid-fifties. Our own financial path has spanned over three decades and we’ve personally experienced numerous recessions, relocating, starting a business, getting married, having children, financing college, and buying a home. This firsthand experience and knowledge enables us to identify and help with the very same financial challenges and goals as our clients. Additionally, by working with clients in the early to mid phases of their financial journey we believe that clear and simple planning can provide tremendous impact and value.
However, a subset of our relationships are individuals that are already retired or approaching retirement and choose to work with us because they value our simple, low-cost, independent approach.
Q: What is a fee-only advisor?
Fee-only advisors are investment advisors that are Registered Investment Advisors (RIA). This type of advisor adheres to a fiduciary rule which means that financial advisors must act in the best interests of their clients (click here), conflicts of interest must be avoided wherever possible, and there must be full disclosure and transparency around fees and compensation. A fiduciary is someone who has the legal obligation to do what is right for the other person in the relationship – like a doctor, lawyer or accountant.
Q: WHERE IS MY MONEY HELD?
As an independent, fee-only advisor we use third-party custodians, including TD Ameritrade, to serve as the safe keeper of your investments. Custodians are responsible for ensuring that your money is in a separate account under your name with your advisor only having the limited authority to manage the account on your behalf. LCV Advisor clients have direct access to their investment accounts 24 hours a day, seven days a week, so you can check balances, view allocations and history or verify information. Under no circumstances should you work with any advisor that takes personal custody of your money.
Q: What is a Chartered Financial Analyst® (CFA)?
The CFA is a designation awarded by the CFA institute (click here) after individuals have passed three complex examinations focused on investment analysis, ethics and portfolio management skills. There are also required education and work experience qualifications. The CFA designation is a highly regarded measure for investment professionals and CFA charter holders have one of the highest degrees of portfolio and investment analysis expertise.
Q: What is a sextant?
A navigational tool used by sailors at sea to determine a ship’s longitude and latitude for the purposes of navigation towards the horizon.
Sextant image created by lastpark.
Investment management by LCV Advisors
Services typically include three meetings to start the relationship and a minimum of two review meetings per year and year-round telephone and email support.
LCV Advisor’s standard investment management fee schedule for individuals is as follows:
1st $750,000 - 1.00%
Next $750,000 - 0.80%
Next $1MM - 0.60%
Next $1MM - 0.50%
Over $3.5MM - 0.30%
Comprehensive Financial PlanniNG
(No Investment Management)
Services typically include two to three meetings to start the relationship and two more meetings for the next year along with year-round telephone and email support.
$1,000 upfront annual fee + monthly retainer of $250
(Two hour minimum)
We review and discuss your current financial progress and recommend a path to achieve your long-term goals.