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Beacon Trust Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Beacon Investment Advisory Services, Inc. (Beacon Trust) is a fee-only, full-service registered investment advisor (RIA) firm that strives to help its clients attain, preserve and expand their assets through customized wealth planning, according to its website. 

Beacon Trust has billions in assets under management (AUM). When it comes to the firm’s compensation arrangements, it charges asset-based fees and hourly fees.

Beacon Trust’s staff offers several professional certifications. These include the certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA), certified private wealth advisor (CPWA) and certified investment counselor (CIC) designations.

Beacon Trust also appears on our top financial advisors lists for Morristown and New Jersey.

Beacon Trust Background

Though Beacon Trust was officially established in 2015, the firm’s history traces back to long before then. Provident Bank, a company that’s been in business since 1839, acquired Beacon Trust in 2011 to expand its wealth management offerings. Beacon Trust then acquired the wealth management division of Suffolk County National Bank in 2014, and the firm also acquired The MDE Group and Acertus Capital Management in 2015.

Valerie Murray is the firm’s president.

Beacon Trust Client Types and Minimum Account Sizes

Beacon Trust serves individuals, high-net-worth individuals, investment companies, pension and profit sharing plans, trusts, estates, charitable organizations, corporations and business entities.

The firm generally requires an account minimum of $500,000.

Services Offered by Beacon Trust 

Beacon Trust offers its clients the following advisory services:

  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Consulting
  • Tax preparation

Beacon Trust Investment Philosophy 

Beacon Trust aims to maximize the transparency, liquidity, tax efficiency and adaptability of its portfolios while preserving wealth and eliciting attractive return potential, according to its brochure. The firm also diversifies across risk exposures, and it uses an open-architecture platform that relies upon large, mid and small cap portfolios. 

Beacon Trust mainly invests in exchange-traded equity securities, non-exchange-traded equity securities, U.S. government bonds, U.S. state and local bonds, investment-grade corporate bonds, securities issued by registered development companies, cash, cash equivalents and alternative investments

Beacon Trust Fees

For financial planning, consulting and tax preparation services, fixed fees range from $5,000 to $15,000. Annual fees for investment management services range up to 1.25% (this applies to wrap fee program accounts up to $2 million and lower percentages for larger balances, but these fees could be 2.50% of assets for accounts that fall below Beacon Trust’s required minimum account size).

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. Fee amounts are based on maximum annual rate for investment advisory services.
Estimated Investment Management Fees at Beacon Trust*
Your Assets Beacon Trust Fee Amount
$500K $6,250
$1MM $12,500
$5MM $62,500
$10MM $125,000

Learn more about advisors' typical costs here.

What to Watch Out For

Beacon Trust’s Form ADV is free of any disclosures or disciplinary actions. The firm also doesn’t charge any commissions or hidden fees for its products, so there isn’t much to be concerned about when working with its advisors.

Opening an Account with Beacon Trust 

You can visit Beacon Trust’s Morristown, New Jersey, office, or you can call an advisor at 1-866-377-8090. 

All information is accurate as of the writing of this article.

Retirement Planning Tips for Beginners

  • You might’ve stashed away a lot of money for your post-employment years, but will it be enough? Our retirement calculator can help you find out. You’ll simply need to enter your location, annual income, Social Security election age, monthly savings, annual retirement expenses, marital status, birth year and other retirement account information.
  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free financial advisor matching tool connects you with up to three advisors in your area.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research