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Concord Wealth Partners 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.

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: 

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

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 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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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.

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