WHO CAN BENEFIT FROM YOUR SERVICES?
The people that benefit from working with us are retirees and pre-retirement individuals and couples that intend to have the following characteristics:
- Are seeking a trusted advisor that will help them make smart choices about their finances
- Want to spend more time on living their lives to the fullest and less time worrying about money
- Are genuinely nice – Our clients are some of the nicest people we know.
- Are seeking guidance regarding taxation and for help with retirement planning, estate planning, and risk management
- Are searching for wealth management strategies to help them work toward their goals
- May need help with college planning, business succession planning, or preservation and transfer of assets
- Want us to facilitate and coordinate with their outside advisors, such as their estate planning attorney and accountant
- Are not afraid to ask what they believe to be “foolish questions” – The cliché that there is no such thing as a dumb question is especially true in the world of financial planning. We strive to educate clients about our process and about the products we select, and we will always answer any questions.
- Want to feel assured they are on the right track in planning for retirement
WHO IS COMMONWEALTH FINANCIAL NETWORK®?
Our broker/dealer is Commonwealth Financial Network. Commonwealth is a dually registered broker/dealer and investment adviser that is in charge of processing the investment business of the financial professionals (advisors) who affiliate with it. Because the securities and investment advisory industry is heavily regulated, financial advisors must register with a broker/dealer and/or investment adviser to ensure supervision and a clear chain of responsibility. Commonwealth gives us access to the securities markets while ensuring that we follow securities laws, are properly registered and licensed, correctly complete and maintain paperwork, demonstrate responsibility, and disclose or avoid conflicts of interest. For more information, visit its website at www.commonwealth.com.
ARE YOU INDEPENDENT OF FINANCIAL PRODUCT SPONSORS?
Yes, we are independent and free to recommend a wide range of products and services from a variety of providers. By partnering with Commonwealth, the largest privately held, dually registered independent broker/dealer and investment adviser in the United States, we are empowered to provide you with objective advice without the pressure to promote a certain product.
WHO “HOLDS” MY MONEY?
Our custodian is National Financial Services LLC (NFS). Established in 1983, NFS, a Fidelity Investments company, is one of the largest providers of brokerage services. As of September 30, 2012, NFS serviced 18 million accounts representing $2.5 trillion in assets. Fidelity Investments is one of the world’s largest providers of financial services, maintaining custody of $3.8 trillion, including managed assets of $1.7 trillion as of September 30, 2012. For more information about NFS, please visit www.nationalfinancial.fidelity.com.
With directly held business (accounts), such as mutual funds and annuities, the sponsoring company is the custodian.
WHO SUPERVISES HERITAGE CAPITAL ADVISORS, LLC?
Commonwealth Financial Network provides legal, compliance, and supervisory oversight of our firm. Representatives of Heritage Capital Advisors, LLC, must demonstrate that we have followed proper standards while providing investment recommendations that are suitable for clients. Commonwealth conducts ongoing suitability analysis of accounts and transactions. We are held to highest ethical and compliance standards. Our books and records are audited on site by Commonwealth auditors once per year to ensure that we are complying with all industry rules and regulations as well as adhering to Commonwealth’s procedural requirements.
IS THERE INSURANCE TO PROTECT ME?
Both NFS and our broker/dealer are members of the Securities Investor Protection Corporation (SIPC), which was created in 1970 to protect customers of member broker/dealer firms in the case of a broker/dealer liquidation. Securities in accounts carried by NFS are protected in accordance with the SIPC up to $500,000 (including cash claims limited to $250,000).
For details, please visit www.sipc.org, or an explanatory SIPC brochure is available upon request.
In addition to SIPC protection, NFS provides for brokerage accounts additional “excess of SIPC” coverage from private insurers. The excess coverage will only be used when SIPC coverage is exhausted. Like SIPC protection, excess of SIPC protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker/dealers remain in business.
NOTE: THIS DOES NOT PROTECT YOUR ACCOUNT FROM MARKET LOSS.
HOW DO I KNOW MY MONEY IS SAFE?
You can feel confident that much of the critical trade processing, clearance, client reporting, and systems, backing your investment professional, is performed by NFS. NFS processes tens of thousands of transactions for millions of investors like you every day. NFS has both the vision and the resources to provide you with innovative products and services for many years to come.
NFS is a leading clearing firm and is subject to the rules and regulations of the Securities and Exchange Commission (SEC), the New York Stock Exchange (NYSE), the Financial Industry Regulatory Authority (FINRA), and other principal exchanges of which it is a member.
All checks from clients must be made payable to National Financial Services LLC or to the particular mutual fund or annuity company you are investing with, never to the advisor or Heritage Capital Advisors, LLC.
IN THE EVENT OF A NATURAL DISASTER OR OTHER MAJOR REGIONAL EMERGENCY, WILL I STILL BE ABLE TO CONTACT HERITAGE CAPITAL ADVISORS, LLC, TO CONDUCT BUSINESS?
Heritage Capital Advisors, LLC, has a disaster plan in place so that in the event of a natural disaster or other major regional emergency, we can return to normal operations as soon as possible. In addition, we have the support of Commonwealth’s two home office locations, which are located in Waltham, Massachusetts and San Diego, California. In the event we cannot be reached, Commonwealth can be reached directly at 800-251-0080.
HOW WILL I PAY FOR YOUR SERVICES?
We are primarily paid a fee for developing and maintaining financial plans and for investment advisory services.
WHAT ARE YOUR FEES?
We have a fee schedule in place which will be provided upon request.
DO I HAVE TO SELL ALL OF MY CURRENT INVESTMENTS TO WORK WITH THE LECLAIRE TEAM AT HERITAGE CAPITAL ADVISORS, LLC?
No, we will not force you to sell any investments. Most investments can be transferred over in kind, although some investments may need to be sold in order us to manage them for you.
FOR MORE INFORMATION OR ADDITIONAL QUESTIONS:
860-659-8886, x276, or 800-429-0158