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:
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
- 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.
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.