Sterling Wealth Management is a fee-only, private financial advisor that’s registered with the SEC. The boutique firm is based in Champaign, Illinois. The firm provides holistic financial planning services that revolve around wealth management and asset management.
As a fee-only firm, all of the compensation Sterling Wealth receives comes straight from its clients. A fee-based firm, conversely, earns client-paid fees and third-party compensation for selling financial products, such as insurance or securities commissions.
Sterling Wealth Management Background
Sharon Allen and Martin Allen founded Sterling Wealth Management in 2004. After being registered at the state level, it became an SEC-registered investment advisor in 2018. Today, the firm employs several certified financial planners (CFPs), and it extends its services to to 181 clients. Sharon Allen is the firm's CEO.
Sterling Wealth Management Client Types and Minimum Account Sizes
Sterling Wealth Management mostly works with individuals. About half of these are high-net-worth clients. However, the firm also offers its services to businesses, charities, profit-sharing plans, trusts and estates.
To work with Sterling Wealth Management, you generally need a minimum account balance of $1 million. However, the firm may require a lower minimum based on several factors. These include anticipated future assets, account composition and negotiations with clients.
Services Offered by Sterling Wealth Management
Sterling Wealth Management offers several services including the following:
- Investment consulting
- Financial planning
- Relationship management
- Concierge services
When it comes to investment consulting and asset management, the firm can help you build an investment portfolio utilizing several types of securities including mutual funds, exchange-traded funds (ETFs), commercial paper, municipal bonds, government securities, certificates of deposit (CD) and more.
In addition, the firm can help you build and maintain an overall wealth management plan. This strategy may touch upon the following aspects of your financial planning:
- Investments
- Insurance
- Taxes
- Estate planning
Sterling Wealth Management Investment Philosophy
Sterling Wealth Management primarily utilizes fundamental analysis when making investment decisions. It seeks to diversify across and within various asset classes when constructing portfolios. It also believes diversification should be global in nature.
The firm looks at long-term historical data regarding the performance of different asset classes. Sterling generally believes risk and return are related and that the market is efficient over the long term.
Fees Under Sterling Wealth Management
For wealth and asset management services, the firm generally charges fees based on the schedule detailed below. These fees are charged quarterly, in arrears.
| Sterling Wealth Management Fee Schedule | |
| AUM | Annual Fee |
| $0 – $1,000,000 | 1.00% |
| $1,000,000.01 – $5,000,000 | 0.75% |
| $5,000,000.01 | 0.50% |
Check out the table below to see how Sterling Wealth Management's fees might look in dollar terms:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Sterling Wealth Management* | |
| Your Assets | Sterling Wealth Management Fee Amounts |
| $500K | $5,000 |
| $1MM | $10,000 |
| $5MM | $40,000 |
| $10MM | $65,000 |
What to Watch Out For
Sterling Wealth Management hasn’t reported any legal or regulatory disclosures, according to its latest SEC-filed Form ADV.
Opening an Account With Sterling Wealth Management
The easiest way to open an account with Sterling Wealth Management is by visiting its headquarters in Champaign, Illinois. You can also call the office at (217) 398-1900 and speak with an advisor.
All information is accurate as of the writing of this article.
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