Company Announcement from CEO Jeremy Torgerson:
We’ve been working hard on several new initiatives over the summer and I’m pleased to announce four of which that are completed and now in effect.
New Types of Account Service & Fee Schedules
We’ve been making revisions to our client account agreements since we first became a fee-only firm in October 2015. The most recent changes took effect October 1, 2017.
Getting the right “mix” of account custodians, services, and fee schedules has been a work-in-progress since I founded nVest. It’s very important to me that you get excellent value for the services you pay for, but not every client needs or wants the same things. We’ve made changes to our offerings over time to help give you more control over what you choose to pay for.
Some clients have very complicated investment and planning needs (or want a lot of individual attention), and some of you want a lower-cost, more high-tech experience. We’ve worked hard to accommodate you, and to set nVest up for lots of new clients in the future.
That’s why we’re proud to announce new account management services and fee schedules, which are described in detail in the brochures below.
We will, of course, honor any and all previous client agreements for our current clients. However, you may find a better match for the kind of experience you want, or you may be able to lower your fees, by switching to a new service plan. If you have questions or want to discuss your situation with me, I’m always available. (You can schedule an appointment at the bottom of this email.)
Any time we make material changes to our firm’s structure, hierarchy, or offerings, we are required by law to publish a new FORM ADV Client Disclosure brochure, and to provide you an opportunity to obtain a copy. The new brochures are found at the following links. If you want a hard copy of any of these mailed to you, please let me know.
Our Updated Brochures: Firm | Advisor
Our new Wrap Fee Program Brochure
This email serves as our record of your receipt of our brochures.
We’ve added TD Ameritrade as a custodian
Clients wanting either our new Model nVestor or Custom nVestor Programs, or non-discretionary investment management will have their accounts opened at TD Ameritrade. We will also transition current clients with accounts at TradePMR to TD Ameritrade over the next fifteen months.
TD Ameritrade will allow us to lower trading costs for clients not in wrap fee programs, and provide all of our clients with a more robust and, we believe, better client experience. For more information about TD Ameritrade, check out the following client brochure.
New Client Portal is online.
After much work to get the technology right, we’re proud to roll out our new client portal! Here’s what our portal will provide:
- Anytime, always ready account balances for your accounts at nVest, and any others you wish to add. See your entire financial life, in one place, at the same time!
- A weekly performance email from me, showing how your account balances have changed from the previous week
- A way for us to communicate, share documents, and work on a to-do list together. We will be able to have on ongoing personal conversation right in the portal, similar to Facebook Messenger.
- You’ll receive our fee notifications through the portal.
- You can invite your CPA, bookkeeper, or key family members to access and review your statements and tax forms, right inside the portal.
- Much more!
Each of you will be invited individually to access and setup your portal, so watch for that email. I’ll also be hosting a live webinar (yes, it’ll be available for replay) on the portal features and how to navigate it, which we will announce by the end of the week. You can sneak-peek the portal login by clicking here.
New Low-Cost 401k and Employer-Sponsored Plans
One of the biggest changes in our industry in many years has been the Department of Labor’s new Fiduciary Rule for retirement plans. We’re very proud to be one of the firms leading the way by offering lower-cost, highly transparent, high-tech solutions for your company’s 401k, 403(b), 457, and other employer-sponsored retirement plans. We’ve partnered with the high-tech 401k fiduciary firm Vestwell to provide these plans to companies large and small! This is truly revolutionary way to provide a retirement plan for your employees, and companies can save thousands, even tens of thousands, of dollars a year off of traditional plan management.
If you have a plan in your company and want a competitive bid to switch to Vestwell, with your plan and employees advised by me, let me know!
There’s a lot more excitement going on behind-the-scenes, but I won’t spoil it for you right now. (I need something to put in our November newsletter!)
If you have any questions or concerns about these changes, please let me know. Or feel free to schedule some time for us to talk, video conference, or meet in person, on my calendar. Be watching for the email invitation on our client portal, and I’ll be speaking to all of you soon!
All my best,
Jeremy Torgerson, CEO
nVest Advisors, LLC