We are always available to answer your questions, so you can make the most informed decision in selecting Independence Advisors as your wealth management partner.
Below are some of the most common questions we are asked by clients. If you don't see the answer you're looking for, please contact us and we'd be happy to discuss your specific inquiries.
What makes Independence Advisors different from other investment firms?
- More than just investments: Our wealth management services blend investment consulting with advanced financial planning and relationship management. See our services for more information.
- Consultative approach: We use a consultative approach to establish close relationships with clients and we offer customized choices and solutions designed to fit individual needs.
- No commissions: We do not receive commissions and we do not sell products. Our only form of compensation is client fees.
- Cost: We only use low-cost investment vehicles.
- Experience: Independence Advisors has combined investment experience of more than 100 years and the firm has been in business since 1993.
- Fiduciary responsibility: We are a fiduciary, which means we have an obligation to put your interests ahead of our own.
How much does an initial consultation cost?
Nothing. You pay no fee and you are under no obligation for the initial consultation.
How do you charge for your services?
We are a fee-only advisor. To minimize conflicts of interest, the firm and our employees do not receive commissions under any circumstances. Our only compensation comes from management fees paid by our clients. These fees are based on assets under management and are charged on a quarterly basis. We do not charge any redemption or surrender fees.
What is your minimum investment requirement?
The minimum account size is $2,000,000 in investable assets. Exceptions to the minimum can be made on a case by case basis.
Are my investment options limited?
As a client of Independence Advisors, you have the advantage of working with a firm with a broad list of investment solutions that can be brought to bear for your benefit. These solutions include investments offered by Vanguard, Dimensional Fund Advisors, and Charles Schwab among others.
How is my money protected?
An independent custodian, Charles Schwab & Co., Inc., provides statements and online account access for all Independence client accounts. For an additional level of reassurance, Schwab is audited by a national accounting firm. In addition, Schwab provides SIPC insurance up to $500,000.
The Securities Investor Protection Corporation (SIPC) insures securities and cash in the event of broker-dealer failure. It covers up to $500,000 of brokerage accounts held in each separate capacity (sole owner or joint tenant), with a limit of $250,000 for claims of uninvested cash balances. More information on SIPC coverage can be found at www.sipc.org.
Schwab offers additional “excess SIPC” coverage as well. Through Lloyd’s of London, protects securities and cash up to an aggregate of $600 million, limited to a combined return to any customer from a trustee, SIPC, Lloyd’s and other London insurers of $150 million, including up to $1 million in cash. This additional protection becomes available in the event that SIPC limits have been exhausted and there are no additional funds available from the estate of the failed brokerage firm.
How often will you update me?
Keeping you involved and informed is our top priority. You will receive monthly statements from Charles Schwab & Co. In addition, we provide a quarterly portfolio summary, including investment performance, and hold regular meetings tailored to your schedule. The meetings allow us to stay current on any changes in your personal and financial life, so we can help you stay on course and reach your financial goals.
How long has Independence Advisors, LLC been in business?
Independence Advisors, Inc was founded in 1993 with a mission to provide sophisticated and highly personalized financial advice to high net worth individuals and institutions. Our name was carefully chosen to reflect our steadfast belief that a prerequisite for fulfilling our mission is an independent structure. This mitigates potential conflicts of interest that may detract from providing advice that is strictly in our clients’ best interests.
In 2010, we formed a new company, Independence Advisors LLC, for the sole purpose of a tax efficient transition of ownership that had been planned for several years. We continue to operate with the same personnel, processes, and investment philosophy that have been in place since our inception.
Since 1993, we have successfully followed our mission having built a solid reputation, enviable track record, a growing number of longstanding client relationships and an exceptionally high client retention rate.
Are You Ready to Get Started On Your Path to Independence?
No matter your professional background, personal goals, or wealth management questions, we're ready to support you in achieving the freedom of a secure financial future – for your family today and for generations to come.