A fiduciary is a person or legal entity that has the power and responsibility of acting for another in situations requiring total trust, good faith and honesty. A fiduciary duty is the highest standard of care. As a Registered Investment Advisor and Certified Financial Planner, we act as fiduciaries to our clients. Among other requirements, the fiduciary duty also includes avoiding conflicts of interest and disclosing any potential conflicts of interest.
Our fees are charged for financial planning services or investment management services. Since we are not affiliated with a broker dealer, we do not sell investment products that have a sales charge. This allows us to uphold our fiduciary duty and avoid conflicts of interest in order to provide the best advice we can provide and manage investment portfolios with our client’s best interest in mind at all times.
I hold a life and health insurance license in California and in other states. In unique instances, under client’s request, I will help my clients with setting up a personal insurance policy (life, disability, long-term care). Typical reasons may include securing a policy that has more complexity with designing, underwriting, or servicing. Any potential conflicts of interest is always fully disclosed in such instances.
I have been a practicing Certified Financial Planner since 2011. As a CFP® professional, the code of ethics that I integrate into my practice are:
- Act with honesty, integrity, competence, and diligence.
- Act in the client’s best interest.
- Exercise due care.
- Avoid or disclose and manage conflicts of interest.
- Maintain the confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
Other designations I hold include the Chartered Life Underwriter (CLU® ) and Chartered Financial Consultant (ChFC® ) through the America College. The CLU® is designed to equip Advisors with the expertise to provide sound guidance around risk management and legal aspects of personal insurance planning in a financial plan. The ChFC® is an advanced and comprehensive program that provides in depth knowledge that is applicable in today’s changing landscape. Areas covered include financial planning for families with special needs dependents, small business planning and financial planning in the LGBT community.
You can expect to feel like you’re being treated as a valued human being. You can expect to feel heard and understood. You can expect to learn, grow and be challenged. You can expect for me to break things down in a simple manner as opposed to using technical jargon that make you feel less smart so I can feel smarter. You can also expect to have a little fun along the way. Financial planning is much more enjoyable when you have some fun in the process. Before entering into any agreements, we’ll make sure that expectations are clear on both ends to ensure all parties are on the same page.
Bright Wealth Advisors has partnered with TD Ameritrade Institutional (“TDAI”) as our preferred custodian. A custodian is a financial institution that holds customers’ securities for safekeeping in order to minimize the risk of theft or loss. TDAI has over $700 billion of clients under custody with account security for clients as their top priority. TDAI does not offer proprietary investment products in order to be fully aligned with Bright Wealth Advisor’s commitment to uphold our fiduciary responsibility-the legal obligation to always put the client’s interest first.
Investment management clients may terminate their account within five business days of signing the Investment Advisory Agreement with no obligation and without penalty. Clients may terminate advisory services with thirty days written notice. For accounts opened or closed mid-billing period, fees will be prorated based on the days services are provided during the given period.
Bright Wealth Advisors does not have an account minimum for our investment planning services. Of course, this is subject to change over time as our firm grows and the needs of our clients change.
As of September 2019, the average account size we manage is about 230k, with the smallest account valued at 90k.