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Answers to Your Frequently Asked Financial Questions

Please click the questions below to discover the answers.

HOW ARE YOU COMPENSATED?
WHERE DOES AN ADVISOR PROVIDE THE MOST VALUE?
WHAT IS YOUR INVESTMENT PHILOSOPHY?
SHOULD I CONSIDER SWITCHING TO MALLARD?
WHAT DO I NEED FOR THE FIRST MEETING?
WHAT CAN I EXPECT AS A FULL SERVICE WEALTH MANAGEMENT CLIENT?

Available and Responsive – We are available to you by phone, email, and in person. We check email and voicemail when we are not in the office, and will do our best to respond to you within hours, regardless of the request.

A close working relationship - We are confident that throughout the years or decades we are working together, you will be able to say that you have found a personal financial advisor who cares about you and your family, and who is fully committed to the realization of your financial goals.

Attention to detail – We hate mistakes and avoid them at all costs by paying attention to detail and checking and re-checking everything. In the rare event we make a mistake, we take immediate responsibility, and correct it to the best of our ability.

Clear reasoning for our recommendations – We believe that our recommendations must be clearly explained and carefully considered by clients. We help you understand the advice we offer by taking our time, and we provide you with supporting educational materials such as our audio seminar series, as well as other practical financial tools exclusively for our clients.

Honesty - We promise to tell you the plain unvarnished truth, even if it creates discomfort in the short-term. We will also be honest when we don't know the answer to a question you ask. We will say, "I don't know, but I'll find out" and then we will get back to you with the answer.

Holistic – Before we make a recommendation, we will consider its consequences on your entire financial plan. We will take the time to understand your goals as well as your taxes, investments, insurance, and estate and retirement needs.

Confidential - We treat your financial and personal information strictly confidential and according to our Privacy Notice. 

Professional – We will treat you with respect, professionalism, and honesty. We maintain a nonjudgmental attitude toward the goals and information presented to us.

Transparent - We will fully describe our method of compensation and any potential conflicts of interest which will (or reasonably may) compromise the impartiality or independence of our advice. 

ARE YOUR FEES COMPETITIVE?

According to the 2017 Planning Profession Fee Survey conducted by Inside Information, the median annual fee for a client with a portfolio value between $500,000 and $1 million is 1.00%

At Mallard, the fee for our Investment Management program on a portfolio of $1 million is 0.75%, or $7,500/year.

Our full-service Wealth Management program fee is 0.75%, plus a flat annual retainer fee. For example, if the retainer fee were $3,000/year, then the total fee on a portfolio of $1 million would be $10,500 ($7,500+$3,000). This equates to 1.05% of investable assets. This is not only a very competitive fee, but we include comprehensive services with this program including tax preparation (if desired), tax planning, and estate organization planning.

WHAT IS A REGISTERED INVESTMENT ADVISOR?

A Registered Investment Advisor is registered and regulated (but not endorsed) by either the Securities and Exchange Commission or a state's securities agency. A registered investment advisor must adhere to a fiduciary standard of care. This standard requires the advisor to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest.

Not everyone in the financial services industry is held to a fiduciary standard. For example, Broker-Dealers(BD) are held to a lower "suitability" standard. Broker-Dealers include many big name firms, but may also include small local firms as well. Broker-Dealers are not "investment advisors" (as defined under the Act) because their investment advice is considered "solely incidental" to the sale of products. Therefore, they are not subject to the same fiduciary standards as investment advisors when recommending investments to clients. They are merely required to make recommendations that are "suitable" for their clients. Unfortunately, things get really confusing because it is possible for certain salespeople to be "dually registered" and at times sell products under a "suitability" standard, and at other times provide "fiduciary" investment advice. We believe if someone is a true "advisor", they should always act as a fiduciary to their clients.

WHY IS IT SO HARD TO DIFFERENTIATE BETWEEN FINANCIAL ADVISORS?

Most professionals — doctors, lawyers, even hairdressers – have to meet strict requirements before they can practice. But almost anyone can call themselves a "financial advisor" - even if they are primarily an insurance salesperson, tax-preparer, stock broker, or attorney. In fact, Cerulli Associates, a leading industry research firm, revealed that only 38% of those calling themselves financial planners actually had financial advisor focused practices! Therefore, it is very important to determine what the advisor actually does (as opposed to what they call themselves). 

Also, the terminology is confusing. For example, the term "fee-based" can confuse clients into believing they are working for a fee-only advisor. A fee-based advisor, however, earns fees and commissions. We are fee-only, and therefore never receive commissions or other compensation from anyone other than our clients.

Finally, and very importantly, advisors provide a wide variety of services, yet pricing is generally in a narrow range. Therefore, it is important to know exactly what services are being provided for the fee. Fees may be similar across firms, but the depth and breadth of services rarely are similar.

WHY IS BEING A COMPREHENSIVE ADVISOR SO IMPORTANT?
HOW MUCH DOES A STAND-ALONE FINANCIAL PLAN COST?
ARE YOU ASSOCIATED WITH MALLARD FINANCIAL PARTNERS IN NEWARK?

LET'S GET ACQUAINTED


We offer a complimentary "Get Acquainted" meeting to describe our services, and to see if our services are right for you.

CONTACT US

(302) 239-1654 | Hockessin, Delaware WealthWindow Login | TD Ameritrade Login | ShareFile Login