Resources

Frequently Asked Questions

If you want to ask a question personally, please contact us directly. We’re here to help and we’re friendly-so call us!

How do I schedule an appointment?

You may contact our office at 410-732-2633 or contact us here. We will gather your contact information and schedule an introductory phone call.  The call typically lasts less than 30 minutes and we use it to learn more about you and your goals.  We also provide some information about us and our firm.  If it makes sense for us to move forward, we’ll send you our Financial Information Questionnaire and schedule your initial meeting.

What can I expect during our initial meeting?

Our initial meeting may last up to 1½ hours. During our appointment, we will discuss your goals and your completed Financial Information Questionnaire. You will learn about Partnership Wealth Management, the types of clients we typically serve, our wealth management process, and fees. We will also take time to answer any questions you have.

What is your wealth management process?

We pride ourselves on providing advice for all your financial matters. The process starts by having you prepare a snapshot of your current financial picture. We provide you with a packet and instructions for the materials we require. After we receive the completed packet, we will take approximately four weeks to complete a comprehensive financial plan. Our recommendations include strategies for your day-to-day finances, investment management, goal funding, retirement planning , life insurance, disability insurance, long-term care insurance, tax strategies, and estate-planning strategies. This advice is custom and may include additional areas of focus if your situation warrants attention to other topics.

What are your fees?

Our investment management fees range from 1-1.75% depending on the size of your portfolio.  Initial financial planning fees can range from $1,000 to $10,000 (we find that most are between $1,500 and $2,500).  Additional costs may apply for hourly consulting advice, insurance, and other products used. We will discuss your asset management and financial planning fees during your initial meeting.

Do you have account size minimums?

While our new clients typically have at least $1,000,000 of investable assets, we do not have an established account minimum. We have respectfully turned away wealthy people whom we feel would not be compatible with our culture. We also have wonderful clients who have assets below our average new client.

What is the average rate of return on your clients’ accounts?

Our clients are looking to pursue their goals while investing at a risk level that is comfortable to them. To help with this objective, we construct custom portfolios for each client. Due to the nature of our approach, it won’t match the composition of a benchmark (such as the S&P 500). Please keep in mind that there is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

In addition, some clients are adding or withdrawing from their investments on a monthly or annual basis. Depending on the size of those additions/withdrawals in relation to their portfolio and market conditions at the time, those clients may see differing performance from those who are invested in the same mix of investments but don’t make any adjustments.

Because every client is different and has a custom strategy, their portfolio can’t be compared versus a benchmark or against someone else’s portfolio (such as a friend’s, neighbor’s, coworker’s, or one developed by another financial advisor). As a result, providing “average” returns for my clients really wouldn’t provide prospective clients with a good indicator of how we would do for them.  No strategy assures success or protects against loss.

What is your investment approach?

We create a custom investment management approach for each client.  We can either utilize an individual stock strategy or we can take a more traditional approach by using mutual funds and exchange-traded funds (ETFs).

In our custom individual stock strategy, we select a concentrated group of stocks that we feel are quality companies, with sustainable competitive advantages, and that are trading at prices that are well below our calculation of the company’s intrinsic or true value.  Stock selection is then tailored to each client based on when they start with the strategy, their income needs, and any restrictions they may place on the individual holdings. While we are active stock managers, our objective is to stay focused on the long term.  Our custom stock strategy also helps to reduce our clients’ all-in fees by eliminating the added layers of fees charged by mutual funds.  We believe this strategy is best suited for accounts of greater than $25,000.

For accounts less than $25,000 or for clients who prefer a more traditional investment approach, we use a diversified mix of ETFs and/or mutual funds.  We may make tactical adjustments to this from time to time and will rebalance the investments when we determine it’s appropriate.  The mix of investments and risk of the portfolio are based on clients’ goals, timeframe, account type, account size relative to the balance of their portfolio, as well as other factors.

No strategy assures success or protects against loss.

Do your dogs come to work with you?

Yes! Woody brings his dogs, Fenway and Roxy, to work with him every day. He feels privileged to be able to spend all day with them. We often call Fenway the Vice President in Charge of Security because he is the first to alert us when someone enters the office. Roxy is our meeter greeter. During appointments, the dogs are kept in Woody’s office to avoid disrupting our meetings.

If you are allergic to dogs or would prefer that Fenway and Roxy take a day off, please let us know prior to your meeting. We will be more than happy to accommodate your needs.