Where are my assets kept?
WS Wealth Management does not directly hold client assets. Client assets are held at Pershing LLC or TD Ameritrade, Inc. Pershing, LLC is a subsidiary Bank of New York which was founded in 1784, is the oldest bank in the United States and is a leading provider of financial services for institutions, corporations, and individuals. Clients will continue to receive monthly account statements from Pershing LLC or TD Ameritrade.
Are my assets safe at Pershing LLC and/or TD Ameritrade?
Pershing and TD Ameritrade are members of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Pershing or TD Ameritrade, and SIPC do not protect against loss due to market fluctuation. Explanatory brochure available upon request or at SIPC.
How often will I receive reports?
In addition to the monthly account statements that the clients receive from the custodian (Pershing or TD Ameritrade), our clients receive quarterly account statements from WS Wealth Management. We also meet at least annually to discuss and review client circumstances and investment performance.
Who has access to my account and money?
WS Wealth Management only has access to your account for the purpose of executing trades and transactions in marketable securities. Money can only be transferred to accounts that you have designated in writing.
What is the difference between Registered Investment Advisor and a Broker?
Registered Investment Advisor Broker Dealer
Highest - Fiduciary, in your best interest Lower - Suitability, best for broker
Fee only - Aligned with clients' interest Commissions - Aligned with brokerage firm's interest
Local firms - independent of big firm bias Large national firm - Brokers are employees
Unlimited - Invests from best offerings available Limited - Sells what company lets/tells them to sell
Full disclosure and transparency required Limited disclosure requirements
How is WS Wealth Management compensated?
As an independent, fee-only firm, WS Wealth Management does not receive commissions on any securities or proprietary products. We receive a fee based on the client’s assets that we have under management that varies according to the amount of assets. We are held to a fiduciary standard of care, which simply means we are required to put our client’s needs first and foremost. As such, we focus on selecting investments and pursuing asset allocation strategies that uniquely serve each client.