Connecticut Wealth Management is an SEC-registered financial advisor firm headquartered in Farmington, Connecticut. It generally provides holistic financial planning and investment guidance to individuals, businesses, non-profit organizations, trusts and estates. It also offers tax advice.
As a fee-based firm, certain advisors at Connecticut Wealth can receive commissions from the sale of third-party financial products. On the other hand, a fee-only firm avoids these commissions, only receiving client-paid fees as compensation.
Connecticut Wealth Management Background
Connecticut Wealth Management emerged in 2010 under the guidance of CEO Kevin C. Leahy. The team of financial advisors at the firm includes certified financial planners (CFPs) and certified public accountants (CPAs).
As a fiduciary registered investment advisor (RIA), Connecticut Wealth Management is obligated by law to work in the client’s best interest. It runs one office headquartered in Farmington, Connecticut.
Connecticut Wealth Management Client Types and Minimum Account Sizes
Connecticut Wealth Management mostly works with individuals, including high-net-worth ones. It also provides services to some pension and profit-sharing plans, as well as businesses of all sizes and some charitable organizations.
To open an account through Connecticut Wealth Management, you'll typically need a minimum investment of $1 million. This requirement can be waived depending on the scope of the engagement.
Services Offered by Connecticut Wealth Management
Connecticut Wealth Management offers comprehensive financial planning for individuals. The firm can assist clients in several aspects of their financial life, including the following:
- Retirement planning
- Personal savings
- Debt management
- Income tax planning
- Investing in education, including 529 college savings plans
- Long-term care needs analysis
In addition, the firm provides customized investment management services. Connecticut Wealth Management advisors review each client’s financial situation and risk tolerance to determine recommendations on how to invest their assets. Connecticut Wealth Management typically builds portfolios utilizing no-load mutual funds, exchange-traded funds (ETFs), stocks, bonds, alternative investments and certificates of deposits.
From there, advisors may rebalance asset allocations and take other actions based on factors like market conditions. Connecticut Wealth Management may also recommend selling positions based on several factors including capital gains harvesting or risk to a particular asset class.
Connecticut Wealth Management Investment Philosophy
Connecticut Wealth Management aims to develop an investment strategy that caters to each client’s risk tolerance and financial goals. It devises asset allocations based on these factors and more. Research strategies may be influenced by various sources including but not limited to the following:
- Third-party research material
- Financial media findings
- Annual reports
- Internet sources
Fees Under Connecticut Wealth Management
Connecticut Wealth Management works as a fee-based firm. Depending on what kind of services you receive, you may encounter fees based on a percentage of your assets under management (AUM) or on a fixed basis. Any client receiving investment advice will sign an Investment Advisory Agreement that explains these fees in detail.
When you’re receiving investment advice from Connecticut Wealth Management, you will incur an Investment Advisory Fee based on a percentage of your AUM. This percentage gradually reduces as your assets climb past certain thresholds. The maximum account fee is 1.25%. This fee may be negotiable at the discretion of the Advisor.
What to Watch Out For
There are no disclosures present on Connecticut Wealth Management's SEC-filed Form ADV.
Certain advisors at Connecticut Wealth Management may be able to earn commissions from the sale of securities, insurance or other financial products to clients. As a result, the firm is considered fee-based. These types of arrangements are also a potential conflict of interest. However, the firm is a fiduciary and is legally obligated to act in the best interests of clients at all times.
Opening an Account With Connecticut Wealth Management
You can open an account Connecticut Wealth Management by walking into the firm's office located in Farmington, Connecticut. You can also reach the firm over the phone at (860) 470-0290.
All information is accurate as of the writing of this article.