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 973-206-7100.
All information is accurate as of the writing of this article.
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