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Wealth Management

Investing On Your Own Isn’t Always Best for You

Independent advisor Tim Hayes offers savvy investment strategies from an objective perspective.

As an independent financial advisor, I have helped people, couples, and families achieve successful investment outcomes for over 30 years. Financial markets are more complicated and volatile than ever. That’s why I remain committed to learning and adapting my knowledge and skills to the new financial “normal” as it’s continually redefined—for better or worse.

Read More: Investing In an Overpriced Stock Market

If you wish to invest successfully in this day and age, this is what it takes.

Helpful Guidance, No Pushy Sales Pitch

Your financial future is too important to rely on amateur hunches. And let’s face it, you don’t have the time or interest to become an investing expert. You shouldn’t have to. And the good news is, as one of my clients, you’ll never have to!

  • I emphasize education – I’ll make sure you’re aware of all of your investment options and the potential risks and upsides of each. I’ll give you the objective perspective along with my honest opinions based on years of investing experience.
  • I stick around – My clients know that I am there for them, and I am extremely proactive about providing ongoing counsel and advice as changes in your life affect your financial situation and goals.
  • Objective advice – No cookie-cutter solutions or corporate financial overlords here! Being independent means I have the freedom to choose from all the options available to you and recommend the ones I feel are best suited to your needs, regardless of who’s offering it. Unlike some advisors, the sky is the limit in terms of the ideas, products, and strategies I may bring to your attention.

Read More: Investor Profile Questionnaire (PDF)

Investing is a risky business. Give yourself a fighting chance for success.

An ongoing relationship with a financial consultant may help you avoid impulsive decisions that could have a negative impact on your investments.

Read More: Should You Be Concerned About Bonds in Your Portfolio

Fee-Only or Commission Wealth Management

Many financial advisors are registered as both representatives of a broker-dealer and as investment-advisor representatives of an investment advisor.

Investment advisors are fiduciaries who owe the client a higher oath of loyalty. They must act in their clients’ best interest and disclose any conflicts of interest.

Registered representatives are not fiduciaries. The advice they offer the client must suit the client’s particular situation. However, they do not have to disclose any conflicts of interest.

Read More: Contact Tim

Book a Zoom, Phone, or In-Person Wealth Management Appointment

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With So Many Investment Possibilities, How Do You Know What’s Best?

Tim Hayes is a financial advisor with the experience and knowledge you can trust to know which investment vehicles may be right for you. Whether you’re an individual, small business, or company executive, he’ll put you on a financial path that’s right for you.

FAQ

I am an Investment Adviser Representative at Cambridge Investment Research Advisors, Inc., a $44B RIA based in Fairfield, IA. I am also registered with Cambridge Investment Research, Inc., an independent broker-dealer with over 3,000 registered representatives nationwide.

I've held an industry securities registration for 30+ years and am subject to SEC and FINRA oversight.

Most clients pay fee-only or an hourly rate. The size and complexity of the client's wealth management and financial and retirement planning determine that fee.

Some clients pay a commission, mainly those with smaller accounts, i.e., Roth IRAs, some public-school teachers with 403b retirement accounts, or parents or grandparents who set up a 529 college savings plan.

The first introductory and fact-finding appointment can be in-person or by phone. The next meeting where I provide my recommendations should be in-person. (For the time being, telephone, Zoom, and email are replacing in-person meetings.)

Subsequent meetings during which we monitor your progress and investments can be done in-person or by phone, email, Zoom, or Skype - or, more likely, a combination of thee meeting types.

Book an appointment phone or in-person

Which Registration is Right for You?

I do most of my wealth management business (90%) as an investment advisor representative (fiduciary). I charge the client a level or a fee-only, usually based on their portfolio’s size and complexity.

If the client has a smaller account, such as a Roth IRA or a 529 Plan, or is a teacher saving in a 403(b) plan, I opt to receive commissions as a registered representative. Most of these clients end up paying less with a commission-based product. Moreover, maybe they do not need as much time as those who pay an annual fee.

Read More: All Services

A Uniform Standard of Care

​Under the 2010 Dodd-Frank Act, Congress directed the Securities and Exchange Commission (SEC) to study the need for establishing a new, uniform federal fiduciary standard of care for brokers and investment advisors.

Having a uniform standard would make it easier for investors, as many are unaware that there are two standards and that the same financial advisor could wear both hats.

The New Rule from the SEC

Beginning June 30, 2020, broker-dealers will start operating under a new standard called Regulation Best Interest. This requires brokers to better align their interests with those of their clients by eliminating conflicts of interest, such as proprietary product requirements, sales quotas, or sales contests.

Registered representatives will now be called financial professionals. Any advisors who are fiduciaries can continue calling themselves financial advisors.

ERISA

If that is not confusing enough, there is a third standard, a fiduciary advisor who falls under ERISA, the law governing retirement and pension plans. Unlike investment advisors who can have conflicts of interest as long as these are disclosed, an ERISA fiduciary advisor must eliminate all conflicts.

Some critics complain that the new standard does not meet the uniform standard’s original intent.

Read More: 401k Plan Advisor

Wealth Management Bigger Accounts

The client needs a minimum of $100,000. It can include just about any account: IRAs, 403bs, joint accounts, personal brokerage accounts, etc.

  • Your account size and the complexity of your wealth management will determine fees, but it is never greater than 1%.
  • The accounts are primarily invested in mutual funds and exchange-traded funds (ETFs). All funds have passed my rigorous due diligence process.
  • I design the portfolio to meet your goals and ensure it is consistent with how much risk you are comfortable with taking.
  • After the account is set up, you receive monthly statements, and you can follow your account online with CirStatements.
  • We periodically meet to check the portfolio, discuss performance and rebalancing, and confirm you are on track to achieve your goals.
  • The custodian for the accounts will be Pershing, a Bank of New York Mellon.

Wealth Management: If you don’t have $100,000 to invest

My fee-based accounts require a minimum of $100,000; if you have less than this amount to invest, I usually charge a commission or an hourly rate.

  • However, I use the same due diligence process for building your portfolio. I use mutual funds and exchange-traded funds (ETFs) that have passed my due diligence process screening for low fees, historically competitive performance, low fund turnover, and long manager tenure.
  • I work with all types of account registrations: IRAs, Roth IRAs, 403(b)s, SEPs, SIMPLES, 529 Plans, etc. After the portfolio is set up, you will receive monthly or quarterly statements. You can follow your account online at CirStatements.
  • The custodian for the accounts will be Pershing, a Bank of New York Mellon company, or the fund family directly.
  • Periodically, we will meet to check if the portfolio is on track, monitor performance, and discuss rebalancing.
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