Frequently asked questions

BFA serves individuals, families, trusts, estates, business entities, charitable organizations, and benefit plans. For financial planning, there is no minimum net worth required. For investment advisory services, let’s discuss your circumstances and see how best to work together to meet your goals.

BFA charges an hourly fee for financial planning and sends its clients invoices. For investment advisory clients, the fee is a fixed percentage of assets under management per year, and financial planning is included. The percentage is agreed in advance with the client and deducted by the custodian from your account. Invoices are available separately. There are no performance fees or other charges, and BFA does not receive compensation from any of the investment providers it uses. This structure keeps fees simple and transparent, and minimizes the potential for conflicts of interest.

An independent Registered Investment Advisor is a fiduciary to its clients, and must put a client’s interests first. An independent advisor like BFA has an open platform and provides advice unique to each client and their circumstances. For investments, it is free to choose the best products for its clients from any provider. A big firm may offer generic advice and may want to sell its own investment products to clients. This creates conflicts of interest.

BFA uses independent custodians to hold client assets, specifically Interactive Brokers and Charles Schwab & Co. Both are industry leaders in serving independent advisors and their clients, with a focus on client service and advanced technology. Clients have access to their accounts similar to a regular brokerage account, and are able to monitor activity, generate reports, and contribute and withdraw their money. The custodians provide regular account statements. BFA has access to your account to manage, trade, and monitor your portfolio, and can only transfer money to your home address or to a bank you authorize.

After contacting BFA, you can expect a short call or email, followed later by an in-person introductory meeting (at no charge) where we will discuss your needs and financial circumstances. We’ll also discuss BFA’s services and capabilities, and how we might work best together.

Yes, if we think there is a good fit and wish to proceed. We’ll enter into an financial planning or investment advisory contract that outlines services, key features and terms, and our respective responsibilities. We also agree fees at this time. Contracts are completed after our introductory meeting and are designed to protect you and BFA. BFA’s contracts allow clients to terminate at any time without penalty.

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