What types of clients does Clarity work with?
We primarily work with high net worth individuals, small businesses, and charitable foundations.
If I decide to become a client of Clarity, how does the transition process work?
We review the current portfolio and provide a comprehensive analysis, an investment policy statement, and recommendations. We are provided with a limited power of attorney to oversee our clients’ accounts. Our goal is to incorporate our clients’ current holdings where appropriate and to take into account any potential tax considerations. In most cases, the implementation process is gradual and we provide our clients with ongoing updates.
What if I have certain assets I want to keep in my portfolio or if there are certain sectors and/or securities I want to avoid?
We allow for some customization in client portfolios, given that most of our clients come to us with existing holdings. We transition accounts over time, keeping in mind securities with a low cost basis. In the event there are any sectors or securities clients do not want to have in their portfolio, we make note of this and make every effort to accommodate these requests.
What are your investment advisory fees and what services are included?
Our fees are based on the assets we formally manage. They start at 1% per year and decrease as the asset level increases. Clients of Clarity receive ongoing portfolio management and comprehensive financial planning services.
Do you require a minimum portfolio amount to become a client of Clarity Wealth Advisors?
Due to the services we provide, our minimum asset requirement is $500,000 but exceptions can be made to waive this minimum.
Is Clarity the custodian of its clients’ assets?
No, Fidelity Investments® and Charles Schwab & Co. Inc. (“Schwab”) provide clearing and custody services to Clarity Wealth Advisors. We are only provided with a limited power of attorney by our clients to oversee and manage their accounts.
What authorizations does a limited power of attorney (LPOA) provide to Clarity?
This allows us to perform certain functions in a client’s account including trading authorization, disbursement of funds to the account holder, and authority to withdraw management fees. We are not allowed to transfer funds between two parties with an LPOA authorization.
How often will I receive portfolio statements from Clarity?
We provide our clients with comprehensive quarterly portfolio reports. Through our relationship with Fidelity Investments, you will receive a simplified, consolidated statement each month reflecting all your investment positions and transactions in your Fidelity brokerage account. Our clients are also able to view their accounts on our website as well as the custodian’s website.
Do you offer financial planning services without managing my investments?
Yes, we offer financial planning services on a standalone basis for individuals who do not have Clarity manage their assets. We charge an hourly fee for these services and provide a detailed analysis with recommendations as part of this service.
Fidelity Investments is an independent company, unaffiliated with Clarity Wealth Advisors. Fidelity Investments is a service provider to Clarity Wealth Advisors. There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by Clarity Wealth Advisors and does not guarantee or assume any responsibility for its content. Fidelity Investments is a registered service mark of FMR LLC.
Clearing, custody, or other brokerage services may be provided by National Financial Services LLC or Fidelity Brokerage Services LLC. [eReview # 624626.1.0]
“These materials have been independently produced by Clarity Wealth Advisors. Clarity Wealth Advisors is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC. Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. Clarity Wealth Advisors provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.”