Frequently Asked Questions
Are you fiduciaries? Yes. In fact, our advisors were fiduciaries before it was cool.
What is a fiduciary? A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.
Opus is “independent.” What advantage does independence provide Opus clients? As an Independent Registered Investment Advisor, we only answer to our clients. No bias or sales incentives. We don’t ever push a product or service on our clients to meet a corporate sales goal—because the only goals we strive to meet are those of our clients. We serve as trusted partners, offering counsel and strategy as your financial goals grow and evolve.
How do you get paid? Our compensation varies based on the service(s) provided. It’s important to note that our services can be utilized together or independently:
a. Financial Planning: All our financial plans are three dimensional, stress tested, and include detailed cash flow projections and a customized investment policy statement based on client goals and risk tolerance. Plans do vary in cost based on complexity, but clients receive a written quote for service following a complementary review of financial documents. The cost for a standard plan is $4,000. In addition to covering the three to six months required to draft a full plan, the fee includes 12 months of support following final plan delivery.
b. Investment Management: There is no fee for a review of existing investments or for providing an investment proposal. If we move forward with investment management on your behalf, the annual percentage fee paid is based on assets under management and the investment strategies selected. There are rare cases where a fee-based relationship is not in a client’s best interest. If this is the case, our team will work to determine if an account where commissions are paid is warranted.
c. Hourly Consulting Rate: The hourly consulting rate for members of our advisory team is $250 per hour. If clients need help tackling a particular project and prefer a flat fee, our advisors are happy to review the scenario and propose a fixed quote alternative. If we are facilitating preparation of tax returns, we will provide a fixed price quote after reviewing relevant documentation (i.e. two years federal tax returns).
How does Opus invest in the communities they serve? The team at Opus Financial Advisors is proud of our long term commitment to bettering the communities we serve with gifts of time, talent, and resources. While consistently giving back to many worthy causes, our advisory firm prioritizes promoting financial literacy and planning. In this industry, the dramatic impact prudent financial stewardship has on a family’s quality of life is readily evident. Sound financial management affects more than just a person’s pocketbook—personal relationships, satisfaction, and general success largely benefit or are negatively influenced by the monetary choices each person makes.