This firm employs a smaller team of financial advisors. AA Strategies provides a range of financial services to clients, including investment management, financial planning and consulting on a range of financial topics. The firm works almost exclusively with individuals, typically through the management of their individual employer-sponsored retirement accounts.
AA Strategies is a fee-based firm, as some advisors earn transaction-based fees or commissions from the sale of securities or certain insurance products. That's different from a fee-only firm, which only receives compensation through client-paid advisory fees.
Asset Allocation Strategies Background
Asset Allocation Strategies is an arm of GLP Financial Group, which has been in business for over 50 years. AA Strategies, on the other hand, registered as an investment advisor only in 2010. The firm has three principal owners: President Alexander Kocoves, Vice President of Operations and Chief Compliance Officer Michael P. McEvilly and firm Treasurer and Secretary Richard H. Martin II.
GLP Financial Group has branch locations throughout Michigan, Texas and California.
Asset Allocation Strategies Client Types and Minimum Account Sizes
All but a few of AA Strategies' clients are individuals, with most of them not having high net worths. These clients are typically employer-sponsored retirement plan participants, meaning the firm principally manages their retirement plan accounts. The firm maintains advisory relationships with a handful of businesses as well.
AA Strategies imposes an account minimum of $15,000 to open a new account. You can also get around this minimum by depositing at least $400 per month.
Services Offered by Asset Allocation Strategies
AA Strategies offers a range of advisory services, including financial planning, retirement account portfolio management and retirement plan consulting services. Here's breakdown of everything the firm can do:
- Portfolio management
- Designed for employer-sponsored retirement plan accounts, like 401(k)s and 403(b)s
- Focuses on the construction and rebalancing of client portfolios
- Financial planning
- Retirement planning
- Asset protection
- Wealth management
- Wealth transfer
- Risk management
- Retirement plan consulting services
- Development of an investment policy statement (IPS)
- Periodic reviews of investments
Asset Allocation Strategies Investment Philosophy
AA Strategies tailors its investment strategies, financial advice and overall philosophy to match the long-term objectives of each client. Client relationships begin with a series of interviews that are intended to determine the type of investor the client is. This will then help the firm to understand what investments would be best suited for them. As other financial needs become apparent through such interviews, the firm and its advisors can provide additional financial planning support if clients wish. Clients reserve the right to impose reasonable restrictions on how their assets are managed.
The firm tends to limit its investment selection to mutual funds and exchange-traded funds. The firm uses a wide range of research sources to inform its investment decisions, including company releases and investment information services like Morningstar. Specific investment strategies, methods of analysis and trading techniques vary based on the individual client and their profile.
Fees Under Asset Allocation Strategies
AA Strategies charges advisory fees based on a percentage of each client's total assets under management, or AUM. The firm charges fees in advance, on either a quarterly, semi-annual or annual basis. Fees are negotiable and may vary between clients.
|Asset Allocation Strategies Fee Schedule|
|Retirement account investment services||Maximum 2.00% annual fee|
|Financial planning services||$500 - $1,500 flat fee or $150 hourly fee|
What to Watch Out For
One thing to note: some advisors at AA Strategies sell insurance products or securities on a commission basis. This gives them an incentive to recommend certain products over others, a potential conflict of interest. That said, the firm is a registered fiduciary and is legally obligated to act in the best interests of clients at all times.
Opening an Account With Asset Allocation Strategies
To become a client of AA Strategies, visit the website of GLP Financial Group, the firm's parent organization. There you can submit a contact form or find a branch near you. You can also call the firm at (248) 489-0101 during business hours.
All information was accurate as of the writing of this article.
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