Why hire a financial advisory firm?
- Most people are aware that planning for your financial future is important but simply do not have the time nor the expertise to develop a plan to make sound and timely investment decisions on their own. Vermillion & White works as your personal CFO in the planning and investment due diligence process. Our goal is to reduce the leg work on our clients so that you and your family can spend more time doing the things you enjoy.
How is Vermillion & White compensated?
- Vermillion & White is a fee-only advisor. This means we are compensated directly from you versus being paid commission from products we sell. We represent you and your interest when giving advice and are not tempted to make frequent and unnecessary trades and transactions to increase our personal income. Our fees may be charged as a percentage of the assets we manage for you, or it could be a flat annual fee and or hourly rate depending on client’s wishes and needs.
What is Vermillion & White’s Investment Management Fee’s that are typically charged?
- Our Investment Management Fee’s generally range from 0.50% to 1.50% annually. A client’s ultimate fee is determined on a number of factors including, complexity of planning, complexity of investment management portfolio, size of the account and time spent on the client relationship. We will clearly review a client’s fee for service once we conduct our have our initial introductory meeting.
Do you charge a Financial Planning Fee and Investment Management Fee?
- No. We feel this is double-dipping, and would discourage our clients to perform on-going financial planning. At Vermillion & White, we will only charge a client a Financial Planning fee if they are not interested in our Investment Management services. Clients that utilize our Investment Management services receive Financial Planning as part of their Investment Management fee.
Are you fees tax deductible?
- Generally, Yes. Section 212 of the IRS code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A.
Do you have Investment minimums for individual advisory clients?
- Probably one of the most asked questions we get. The simple answer is No. Our average household typically has an investment portfolio of >$250,000, however we do not believe that financial advice should be limited to only those that have already begun to accumulate assets. At Vermillion & White we understand that clients come to us at all stages of life and that sometimes we may have to invest into you in order to put you on a path of financial security.
Is there a cost for the first meeting?
- The first meeting is designed as an introductory meeting for you to get to learn more about Vermillion & White, our process, our experience and what it looks like to be a client at the firm. In addition, we will want to learn more about your specific circumstances, the help you are looking for, and the planning/investments you have made to date. Our ultimate goal of the first meeting is to answer 3 questions:
- Can we help you?
- Is the help we can provide you the help you are looking for?
- Do we feel we can work successfully together?
What do I need to bring to the first meeting?
- There is no perquisite, however to make the most of our time together we encourage you to bring along these documents
- Recent Tax Return
- Recent Pay Stubs
- Recent Account Statements
- Insurance Policies
- Estate Planning Documents
How long does the planning process take?
- The planning process typically requires a minimum of two meetings (Initial, and plan presentation) that span 2-3 weeks. It could require more depending on your individual situation and preferences however.
Where are clients assets held?
- All of our individual’s client’s assets are held typically at one of our two custodians. Charles Schwab Institutional or TD Ameritrade Institutional. Our custodians provide 24/7 internet access to clients’ accounts and monthly reporting statements on all accounts.
Do we accept referrals?
- A referral from a satisfied client or professional is the largest compliment we can receive and the life blood of our practice.
What types of retirement plans does Vermillion & White support?
- Whether you’re exploring a 401(k), 403(b), Defined Benefit Plan, or Non-Qualified plans our team will help you stay up to date on new regulations and requirements affecting plan sponsors and their participants. We work with both profit and non-profit entities and serve as your fiduciary expert.
Does Vermillion & White offer a higher level of Fiduciary Support?
- Simple answer is Yes. Vermillion & White has the ability to serve as an ERISA 3(38) Investment Manager. This can add an additional layer of liability protection.
What providers do you work with in the Retirement plan space?
- One of the advantages of working with Vermillion & White is that we are an independent firm. That means we are able to seek out the best and most cost effective platforms for our firms clients such as Vanguard, Charles Schwab, TD Ameritrade, Principle Financial Group, and Fidelity.
Do you help owners with Buy/Sell agreements?
- Yes. Vermillion & White can help create exit and transition strategies for all types of businesses to ensure that you or your family can one day realize the equity you have built in your company