Based in Abingdon, Virginia, Concord Wealth Partners (CWP) is a financial advisor firm with hundreds of millions in assets under management (AUM). It provides a variety of financial planning and investment advisory services to a diverse group of clients that are dominated by individuals.
Concord Wealth Partners Background
CWP is fully owned by Concord Wealth Holdings, LLC. The controlling shareholder of Concord Wealth Holdings 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.
Concord Wealth Partners Types of Clients and Minimum Account Size
CWP works with a variety of clients including:
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:
- Stocks
- Bonds
- Mutual funds
- Exchange-traded funds (ETFs)
When evaluating these securities, the firm may engage in various strategies such as cyclical, 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. Strategies use long- and short-term purchases alike.
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%. All fees are subject to negotiation.
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 has no disciplinary events to disclose as of its latest SEC-filed form ADV.
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.
Opening an Account With Concord Wealth Partners
You can open an account with CWP by visiting its website or by calling (276) 628-5910.
All information was accurate as of the writing of this article.
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