Loading
Tap on the profile icon to edit
your financial details.

Concord Wealth Partners Review

Your Details Done
by Updated
Concord Wealth Partners

Based in Abingdon, Virginia, Concord Wealth Partners (CWP) is a financial advisor firm with more than $290 million in assets under management (AUM). It provides a variety of financial planning and investment advisory services to a diverse group of clients. 

Concord Wealth Partners Background

CWP is an affiliate of Lopez Wealth Management (LWP), which formed in 1997. The sole owner of that firm is Jonathan Wade Lopez, a certified financial planner (CFP). Today, the firm serves a variety of clients but it focuses on retirees, community leaders and business owners. 

What Types of Clients Does Concord Wealth Partners Accept?

CWP works with a variety of clients including: 

  • Individuals who do and do not have a high net worth
  • Trusts
  • Estates
  • Corporations
  • Charities 

Concord Wealth Partners Minimum Account Size

CWP doesn’t require any account minimum to establish a relationship. However, the firm can at its sole discretion terminate an account it deems too small to manage effectively. 

Services Offered by Concord Wealth Partners

The firm offers a variety of investment advisory and financial planning services tailored to the individual needs of the client. Depending on your situation, your financial plan may cover the following topics:

  • Retirement planning
  • Estate management 
  • Insurance
  • Taxes
  • Education funding through 529 plans and other vehicles

Concord Wealth Partners Investment Philosophy

CWP aims to construct portfolios with asset allocations that can help meet the client’s goals based on his or her risk tolerance and other factors. Depending on your personal situation, your assets may be spread across: 

When evaluating these securities, the firm may engage in various strategies such as fundamental and technical analysis. Fundamental analysis involves making projections of a company's financial future by examining its financial state and other factors. Technical analysis focuses on price and trade volume in order to make forecasts about future price directions. 

Fees Under Concord Wealth Partners

CWP typically charges fixed or hourly fees for financial planning services. The fixed fees generally range from $500 to $5,000. Hourly fees typically stretch from $150 to $300. Ultimately, these fees depend on the scope of the services provided.

For investment advisory services, CWP usually charges fees based on a percentage of your assets under management. The annual percentage generally ranges from 0.40% to 1.50%.  

But note that these advisory fees don’t cover expenses your account would bear,  including custodial fees and expenses of the underlying funds that make up your portfolio. More information is available in the publicly available fund prospectuses and related fee documents provided by CWP. 

What to Watch Out For

CWP may provide advice to non-affiliated private investment funds, and it can recommend that clients invest in such funds. This relationship may create a conflict of interest as advisors may feel incentivised to recommend that clients invest in these funds. However, CWP must uphold its fiduciary duty to always provide advice in your best interests. Plus, it must disclose potential conflicts. 

For more information about its code of ethics and other disclosures, access the firm’s brochure on the SEC website. 

Disclosures

CWP has no disciplinary events to disclose as of the time of this writing. For more information, check out its brochure document on the SEC official website. 

Opening an Account With Concord Wealth Partners

You can open an account with CWP by visiting its website at http://www.lopezwealth.com/  or by calling (276) 628-5910.  

Where Is Concord Wealth Partners Located?

CWP is based at the following address: 

955 West Main Street, Abingdon, Virginia 24210. 

Tips on Finding Your Financial Advisor Match 

  • You can continue your search for the right financial advisor by using our SmartAsset financial advisor matching tool. It connects you with up to three advisors in your area. The tool also allows you to view their profiles so you can decide for yourself if the advisor is someone you feel comfortable working with. 
  • Before striking a deal with a financial advisor, it’s important to know the difference between fee-only and fee-based. While they may sound interchangeable, they describe two very different fee structures and the difference can have a major impact on your long-term returns.

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

How Many Years $1 Million 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 To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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