Investments
Charles Schwab & Co.
We use Charles Schwab & Co.'s platform for the management of our clients' investments. Charles Schwab & Co. generates the account statements and 1099 tax forms for all clients. There is also a mobile app available for clients to use for account viewing purposes.
Types of Investments & Management Process
We are not limited to any one particular type of investment or family of funds. Rather, we have the ability to use a wide range of investments which are ultimately determined by the client's goals, situation, risk tolerance and time frame for investment. Each client has their own personalized investment portfolio.
All investment accounts will be operated under a full discretionary basis. This means that the Financial Advisory team may buy and/or sell various investments without first consulting the client. However, the investment allocations in the aggregate should remain consistent with the established investment objectives and risk tolerance agreed upon. These objectives should be reviewed on an annual basis to ensure any organizational changes by the client are implemented in to the investment activities. Clients receive quarterly performance reports from Cross State Financial Group, and on-demand portfolio “snapshots” upon the request.
Costs
Cross State Financial Group is a fee-only registered investment advisor (learn more about why fee-only advisors are unique). Management fees are based on a percentage of assets in the accounts and charged on a quarterly basis in arrears. Fees are debited from the cash balances within the accounts. The annual fee schedule is as follows as a percentage of assets managed at Charles Schwab & Co.:
$0 to $500,000 - 1.25%
$500,000.01 to $999,999.99 - 1.00%
$1,000,000 to $1,499,999.99 - 0.90%
$1,500,000 to $1,999,999.99 - 0.80%
$2,000,000 abd above - 0.75%
Example: If a portfolio adds up to $750,000, the entire portfolio is charged at 1.00%
In addition to the management fees charged by Cross State Financial Group, Charles Schwab & Co., Inc. may charge a nominal transaction fee on trades for certain securities.