Thank you for being a client of Valley Wealth Management! We are extremely grateful that you trust us to manage your investments. We have grown so much that we are at the point where we can be a truly independent firm. You’re probably asking what that means, and “I thought you were already independent.” I am considered an independent advisor, but I was still part of the corporate advisory structure at LPL. This means that we had to run all our business and compliance through them.
Sometimes, as with any corporate structure, this can greatly reduce the agility and efficiencies in our business. With our firm growing so much, we are now at the scale and size to be our own RIA (Registered Investment Advisor). We will soon have the ability to start other relationships outside of LPL, if we ever see this as a necessity. Our RIA compliance will now be audited directly by the State of Wisconsin’s Department of Financial Institutions (DFI). The Wisconsin DFI is the same agency that regulates and monitors banks, credit unions and other securities professionals.
Now that all the important info is out of the way, I can relay to you my excitement at this opportunity. It’s an incredible moment for our firm to be separated from the full relationship and corporate structure of a broker dealer. It’s a true “high five” moment for us here.
Sooo, what does this mean for you? Let’s knock out some Q&A’s that you might have.
Q: Will my fees go up?
A: No way. We’re doing this as an opportunity to have investment options that might not be available at LPL.
Q: Will I need to sign anything?
A: Yes, for most clients. We will be in contact with you to sign paperwork to show that Larry is moving from LPL’s RIA to Valley Wealth Management’s RIA.
Q: Will I see any changes to my statements?
A: Your investments are still managed the same. If you are in a Strategic Asset Management (SAM) account, you will be moving to a Strategic Wealth Management (SWM) account. The SAM and SWM platforms are LPL’s way of determining our relationship with them. It’s a short form that should be easily understandable. You will even keep the same account number! Like I said, we’re very excited about this move so try not to get caught up in the nomenclature.
Q: What happens to my stock accounts, annuities, and other brokerage accounts that are not advisory/managed accounts?
A: Nothing. We are going to use the “Hybrid” model, which means our relationship for transactional types of products will stay with LPL.
If you have any other questions, feel free to call us at 920.966.9520. We are here to help!
Thanks again for your business and continued trust in us!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. All investing involves risks, including the loss of principal.