Answers to common questions.
Frequently Asked Questions
1. Which brokerage firm would you use?
2. Where would the assets in my portfolio be kept?
3. How will I know when adjustments are made to my portfolio?
4. From whom will I receive my account statements?
5. What information will my account statements include?
6. Can I access my accounts online?
7. Are there any hidden fees?
8. Would my accounts be insured?
9. Where would my account records be kept?
10. What are the requirements to become a Certified Public Accountant?
11. What if I still have questions?
Which brokerage firm would you use?
As we always seek to provide the best value and the highest level of service for our clients, we have chosen TradePMR, Inc. as our recommended brokerage firm. TradePMR offers competitive commissions on trades and one of the largest selections of mutual funds available. Their comprehensive list of funds includes load-waived funds, no-load funds, and no-transaction fee funds. In addition, TradePMR provides clients with free secure online access to their accounts. These features, among other benefits, enable financial advisers to more effectively and efficiently manage client assets.
In addition, there are no account minimums and no annual account maintenance fees.
Our clients may, however, choose to work with a different brokerage firm. We will make every effort to accommodate such requests.
Where would the assets in my portfolio be kept?
To provide our clients with peace of mind, we recommend that all portfolio assets be held in custody by TradePMR, Inc., a brokerage firm which provides clearing and custodial services through a relationship with First Clearing, LLC (a qualified custodian serving independent registered investment advisers). First Clearing, LLC is a subsidiary of Wells Fargo & Company.
At Athelon Wealth Management, we never maintain direct physical custody over our client’s assets.
Our clients may choose to work with a different custodian. We will make every effort to accommodate such requests.
How will I know when adjustments are made to my portfolio?
When an adjustment is made to your portfolio, TradePMR will provide an official confirmation statement directly to you by email. Unless you allow us to manage your account on a fully discretionary basis, we may also have to contact you to obtain your approval prior to making any such adjustments.
In addition, please note that our clients can access their accounts 24/7 through the TradePMR Investor Access System. This system provides real-time comprehensive information including a history of all trades processed and fees charged to the account.
From whom will I receive my account statements?
Your statements will be generated and mailed to you directly by your custodian on a monthly basis (or quarterly for less active accounts). Since we do not issue or control your statements, we have no ability to alter or intercept them.
By having your statements sent to you directly by your custodian, you can be sure that the statements you receive are official and reliable.
As an added benefit, we also provide our own statements to clients in order to keep them informed about their accounts. These statements are released at least quarterly and provide details including portfolio allocation and account performance.
Clients are encouraged to compare our statements to those received from their broker/custodian in order to ensure accuracy.
What information will my account statements include?
Your account statements will include a history of transactions processed during the period, a detailed listing of all fees charged, and a summary of portfolio performance.
Can I access my accounts online?
Yes. Our clients are provided secure 24/7 access to their TradePMR accounts through the Investor Access System. This access allows clients to monitor their accounts in real-time and download account statements, 1099′s, and confirmations as needed.
In addition to the account access granted by TradePMR, we also provide our clients with access to a secure portal which allows us to transfer files safely, efficiently, and securely. This is done to protect your information and keep your account records confidential. By using this portal, we are able to avoid sending sensitive information through email and minimize the possibility of unauthorized access to your sensitive information.
Are there any hidden fees?
Aside from management fees for investment advisory services, there are no additional fees charged by us. Please note, however, that brokerage charges for the sale and purchase of securities may be assessed by TradePMR. All charges are fully disclosed to our clients on the brokerage statements provided directly to our clients by TradePMR.
Mutual funds and exchange-traded funds also charge internal management fees which are in addition to Athelon Wealth Management, LLC’s advisory fee and are disclosed in each fund’s prospectus.
Clients should review all fees charged by our firm, custodians and brokers and others to fully understand the total amount of fees incurred. Athelon Wealth Management, LLC does not receive any commissions from purchases or sales of securities.
Would my accounts be insured?
Yes. Our recommended custodian, First Clearing LLC, is a member of the Securities Investor Protection Corporation (SIPC), a non-profit, congressionally-chartered, membership corporation created in 1970. SIPC protects clients against the custodial risk of a member brokerage firm becoming insolvent by replacing missing securities and cash up to $500,000, including up to $250,000 in cash per client in accordance with SIPC rules. (Note that SIPC coverage is not the same as, nor is it a substitute for, FDIC deposit insurance. Securities purchased through First Clearing are not FDIC-insured; however, cash in some account types may be covered by FDIC insurance and not by SIPC coverage.) For more information about SIPC, please visit www.sipc.org. You may visit www.fdic.org for additional FDIC insurance information.
Above and beyond SIPC coverage, First Clearing maintains additional insurance coverage provided through London Underwriters (led by Lloyd’s of London Syndicate) (Lloyd’s) and other insurance companies rated A or better by A.M. Best. For clients who have received the full SIPC payout limit, First Clearing’s policy with Lloyd’s provides additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts up to a clearing-firm aggregate limit of $1 billion (including up to $1.9 million for cash per client). In other words, the aggregate amount of all client losses covered under this policy is subject to a limit of $1 billion, with each client covered up to $1.9 million for cash.
This coverage is available at no additional cost to our clients and ensures that your investment accounts remain protected and secure. Please note that FDIC and SIPC coverage do not protect against loss of the market value of securities.
Where would my account records be kept?
Client account records are kept with TradePMR. Please note that account statements and other pertinent information is provided to us by TradePMR for the purpose of managing the accounts of our clients.
What are the requirements to become a Certified Public Accountant?
The Certified Public Accountant (CPA) license is a leading credential among business consultants, financial managers, tax practitioners, accountants, and auditors. Although the requirements to become a CPA vary by state, New York requires a 5-year course of study (a minimum of 150 college credits or a Masters degree with required coursework in accounting, finance, and ethics).
All CPA’s are required to have passed the Uniform Certified Public Accountant Examination, a 14.5 hour examination comprised of four broad parts:
– Business Concepts;
– Financial Accounting and Reporting;
– Regulation (law and taxation).
To become licensed as a CPA, there are also minimum experience and ethical requirements which must be met. In order to maintain licensure as a CPA, states generally require the completion of 40 hours of continuing professional education (CPE) each year.
Additionally, all American Institute of Certified Public Accountants (AICPA) members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services.
To learn more about the CPA credential, please visit http://www.op.nysed.gov/prof/cpa/cpalic.htm#gen.
What if I still have questions?
Please feel free to reach out to us at 347-706-1414 or firstname.lastname@example.org. We’re here to help!