How often will I meet with you?
At the beginning of a new relationship we will meet frequently as we are developing and implementing the financial plan. Once the plan is in place and the accounts have been transferred to our management, we will customize a schedule of regular review meetings that is specific to your situation. Of course, I am always available to take phone calls and answer emails with any questions in between our regularly scheduled meetings.
How is my privacy protected?
I comply with all privacy laws affecting financial institutions. Each year, my clients receive a Privacy Statement that outlines this responsibility in detail. Those standards are regularly reviewed to ensure they cover all forms of communication. Briefly, I will not release any information to any person who is not directly named on your account unless we have your permission to do so, with the exception of legal and regulatory authorities.
Who has access to my money?
I NEVER take custody of client assets. I use Charles Schwab as my custodian for our managed accounts and we have limited power of attorney to do only three things: 1) Trade securities with discretion; 2) Request that Schwab send a check to a Client directly or to a Client's bank; 3) Be paid a quarterly management fee from the account based on the contract rate. I have no other access or authority.
A fiduciary is a person or institution given the power to act on behalf of another in situations that require great trust, honesty and loyalty. Fiduciaries are hired to act in your best interest and must set aside personal motives and conflicts of interest in favor of pursuing the best outcome for your unique situation.
Professionals who aren't fiduciaries are often held to a lesser standard, the so-called sustainability standard. This standard means that the products they sell you just have to be suitable for you, not necessarily ideal or in your best interest.
How do I know if Dave Henderson has ever had any regulatory issues?
Great question. Anytime you are considering working with a financial advisor you should research their history. You can go to investor.gov to research any securities licensed advisor.
What if I ever decide to move my accounts away, is there a penalty?
Our managed accounts are always completely portable and you will never incur a penalty for moving them away from our management. One of the great things about how we are structured is that we strive to earn your loyalty each day. If you ever do decide to leave we will refund any unused management fees and assist you in transferring your accounts to another advisor. Our clients stay with us because we do a great job for them, not because we have them handcuffed in any way.
When will I get statements for my accounts?
Charles Schwab Institutional provides the custodial services for my client's accounts. At least quarterly, my clients can expect to receive a Schwab statement detailing the current positions and valuations to each client. In addition, trade confirmations are sent by Schwab whenever we conducts a trade in an account. At the end of each year, clients will receive a 1099 from Charles Schwab for any reportable or taxable event. The Schwab Alliance website offers an array of daily print-on-demand reports that you may download at any time. Clients may elect to receive Schwab statements and reports electronically rather than by standard mail, which is highly encouraged in order to reduce paper waste.
Anyone can say that he or she is a financial planner or advisor. That’s why it’s essential to be sure of the qualifications and credentials of any “planner” or “advisor” before you pay anything or entrust them with your financial present or future.
Fee-only financial planning means the advisor is compensated solely by the client. Other “fee-based” financial advisors may receive a commission if they recommend a specific investment, mutual fund, or insurance product.
Our first step is an initial inquiry. Reach out to us by visiting our contact page and we’ll discuss your financial needs and how we can assist you.