Affinity Wealth Management is a fee-based financial advisor firm headquartered in Wilmington, Delaware. The firm works mostly with individual investors, most of whom do not have a high net worth. The vast majority of its services are related to investment management and financial planning.
Affinity Wealth Management is a firm with a solid reputation. It has won multiple Five-Star Wealth Manager Awards. It's also ranked No. 1 on our lists of the top financial advisors in Wilmington and the top financial advisors in Delaware.
Affinity Wealth Management Background
Founded in 2017, Affinity Wealth Management is a relative newcomer to the financial advisor sphere, but its team of advisors has deep experience and an array of financial certifications. The firm's two owners – chairman James Hall Jr. and president/CEO Michael Sicuranza – have decades of experience working in financial services.
The team at Affinity has a number of advisor certifications. Such certifications at the firm include the certified financial planner (CFP), accredited estate planner (AEP) and certified divorce financial analyst (CDFA) designations, among others.
Affinity Wealth Management Client Types and Minimum Account Sizes
Most of Affinity Wealth Management’s client base is made up of individuals, specifically those who fall beneath the SEC’s high-net-worth threshold. However, high-net-worth individuals, estates, trusts, pension plans and retirement plans will also find services available for them at this firm.
While most firms have stringent minimum initial investment requirements, Affinity Wealth Management does not have a set account minimum. So whether you have $5 million ready to invest or $10,000, you may be accepted as a client.
Services Offered by Affinity Wealth Management
Affinity Wealth Management offers what it calls needs-based financial services. This allows the client to choose what they want on an à la carte basis. You can pick from the following services:
- Investment planning and management
- Investment strategy review
- Portfolio review and analysis
- Risk tolerance measurement and assessment
- Objective-based financial planning
- Retirement planning
- Education cost planning
- Estate planning
- Year-end tax planning
- Cash flow analysis
- Insurance review
- IRA and 401(k) rollovers
- Employer-sponsored retirement plan analysis
Affinity Wealth Management Investment Philosophy
Long-term investing is at the core of Affinity Wealth Management’s approach. This means that it builds portfolios with the intent that there will be little to no investment turnover in an effort to keep trading costs as low as possible. The firm typically invests in exchange-traded funds (ETFs), mutual funds, bonds, individual stocks, CDs, real estate investment trusts (REITs), foreign securities and options contracts.
Rebalances and reallocations are a major part of the firm’s investing approach. These could become necessary if there are shifts in the market or your personal financial objectives change.
Fees Under Affinity Wealth Management
The fees associated with investment management services at Affinity Wealth Management are based on a percentage of assets under management (AUM). Annual fee rates range from 0.50% to 1.50% of AUM, and fees are charged quarterly. Firms with fees on a sliding scale such as this typically determine rates based on the amount of assets you have under the firm’s management. While that does come into play here, the firm also takes into account the number of services you receive and the complexity of those services.
Affinity charges either an hourly or fixed fee for its financial planning services. The firm's hourly rate is $350 per hour, while fixed fees range from $250 to $15,000. The firm will typically opt to charge a fixed fee if it feels confident that it can accurately predict what your hourly costs will be. Annual retainer fees are at a fixed rate of up to $25,000.
What to Watch Out For
Affinity Wealth Management has a clean record, meaning it has no legal issues or disclosures listed on its Form ADV.
Some of the advisors at Affinity Wealth Management have arrangements in place to receive commissions for the sale of insurance policies to clients. These are completely independent of the other costs associated with the firm and its services. Additionally, certain employees at Affinity sell specific securities on a commission basis. Both of these arrangements may present potential conflicts of interest, as advisors may be incentivized to sell particular products. The firm is, however, a fiduciary, which means that it is bound to act in your best interest at all times.
Opening an Account With Affinity Wealth Management
Affinity Wealth Management welcomes anyone interested in the firm to stop by and talk to an advisor about the services they can provide. However, you’ll likely want to call ahead of time to set up a meeting. You can also email the firm to set up a meeting.
All information is accurate as of the writing of this article.
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- As you’re building your portfolio, it’s important to think about asset allocation. This is essentially how you divide your assets between different investment types according to your risk tolerance. So, for instance, a conservative investor would invest more heavily in bonds than stocks, whereas a very aggressive investor may have a portfolio that's almost completely stocks.
