Frequently Asked Questions
Personal attention is important in any advisory relationship. Can you share the number of clients that Centerpoint manages?
Does Centerpoint Advisors maintain a fiduciary standard, meaning the firm will always act in the best interest of their clients?
Will you provide a written action plan to help us accomplish our goals? An assessment of where we stand now and looking forward to retirement?
A formal financial plan with our Director of Financial Planning, Olga Okaty CFP, is the best way to assess your current path and create a retirement plan that suits your needs. This is a written assessment providing a comprehensive evaluation of your current situation and a financial blueprint for the years ahead, modeling several different scenarios based on your desired lifestyle. Those interested in financial planning should watch the helpful overview video found at the bottom of our Financial Planning and Advisory Services page on the website, which can be found here. Complimentary consultations to provide further details are available upon request.
What is Form-CRS and where can I find it?
Form-CRS, or Client Relationship Summary, is a new disclosure document that broker-dealers and investment advisers are required to provide clients at the start of the relationship or when providing new or particular services. It is a short form, written in easy to understand language, and is intended to increase transparency and help clients make informed investment decisions.
Every firm must address the following topics in its Form-CRS:
- The services the firm offers;
- Fees, costs, conflicts of interest, and the standard of conduct associated with those services;
- Whether the firm and its financial professionals currently have reportable
legal or disciplinary history; and - How to obtain additional information about the firm.
You can find our Form-CRS by clicking on the link in this FAQ section. It is also located on our Legal and Compliance page, and can also be found on the SEC’s website for investor resources located at www.investor.gov.
We are considering that we may like our financial advisor to help us implement the financial plan as well. Is this something you offer?
Not only is this something we offer, but it’s also a large focus of our financial planning and investment management philosophy. The financial plan is a useful tool in evaluating the level of risk and returns that the portfolio will need to support in order to achieve your goals. We will not only assist in implementing your plan through investment management, but will also monitor any recommendations to help make sure your financial plan is adjusted as needed. If implementing your financial plan requires additional services, we also work with a network of professionals, such as estate attorneys, insurance brokers and CPAs, who we are able to recommend and coordinate our efforts with when necessary.
Are periodic reviews part of the typical client relationship? Regular communication to make sure we stay on track, and for our own peace of mind?
Life events and financial concerns can arise at any time, and it is important to us that we stay in tune with the needs of our clients’ evolving lives. We regularly hold annual reviews with each of our clients, but also have an “open-door” communication policy and welcome questions anytime. We have many clients that prefer quarterly or monthly calls, and we are happy to accommodate. Our digital technologies allow our clients nearly instant access to our team, never waiting more than 24 hours on any business day for a response to an inquiry.
Do you have a written agreement with the terms and conditions of what you consider discretionary authority, so there is no ambiguity?
We do have an Investment Management Agreement (“IMA”) to allow discretionary authority. On such accounts, a firm principal will work directly with the client to thoroughly explain the terms of the agreement to remove any ambiguity and provide comfort with the level of discretion granted. Clients can rest assured that Centerpoint adheres to a fiduciary standard, and will always act in the best interest of the client.
We’d like financial planning to cover both short and long-term financial goals and significant life cycle events. Is there an additional fee for this service?
We believe the best way to plan for the future is to evaluate the present, optimize opportunities, and design a sound financial strategy that is realistic, relevant, and flexible enough to adjust as circumstances change. We begin by learning about your goals and concerns, your vision for yourself and your family, your opportunities and challenges, and help you decide which financial priorities are most important. We then analyze this information and develop a comprehensive Financial Plan focused on a specific array of your financial objectives. The goal of the Financial Plan is to help you determine your critical financial needs over time and assist you in creating a detailed, integrated life plan for meeting those needs. There is an hourly rate for formal financial planning services outside of the percentage of assets under management fee which is charged for investment management. Before entering any relationship, it is important to us that the client understands our compensation structure with complete clarity and transparency.
Does an unaffiliated brokerage firm maintain physical custody of our investment assets?
Yes, Centerpoint Advisors uses Fidelity for custodial services , and they have agreed to send a statement to clients at least quarterly, indicating all amounts disbursed from the account including any fees paid to Centerpoint. We are, however, an independent registered investment advisor, which means that we maintain an open investment platform and are able to choose our investments from all sources. Our independent structure allows us to provide clients with a full range of investment options and portfolio construction tailored to meet specific needs.
Will we have the opportunity for an in-person meeting prior to commencing the relationship? Will this be with one advisor or a team of professionals?
A formal financial plan with our Director of Financial Planning, Olga Okaty CFP, is the best way to assess your current path and create a retirement plan that suits your needs. This is a written assessment providing a comprehensive evaluation of your current situation and a financial blueprint for the years ahead, modeling several different scenarios based on your desired lifestyle. Those interested in financial planning should watch the helpful overview video found at the bottom of our Financial Planning and Advisory Services page on the website, which can be found here. Complimentary consultations to provide further details are available upon request.