Fiduciary Wealth Management, LLC (FWM) is a fee-based financial advisor firm that oversees a few hundred million dollars in client assets under management (AUM). FWM employs a small group of financial advisors at its lone office location in Reston, Virginia. Financial planning and discretionary investment management are the core advisory services at the firm.
As a fee-based firm, certain advisors can receive third-party compensation in addition to client-paid fees. A fee-only firm, on the other hand, focuses its entire compensation model on client fees.
Fiduciary Wealth Management Background
Fiduciary Wealth Management is under the principal ownership of firm president Christopher J. Broderick and 401(k) plan advisor Patrick D. Roth. The duo founded FWM in 2011. There’s an average of over 20 years of financial services experience among the firm’s team of advisors.
Fiduciary Wealth Management Client Types and Minimum Account Sizes
Fiduciary Wealth Management has a client base that mostly consists of individuals both and with and without a high net worth and charitable organizations. The firm also works with multiple types of qualified retirement plans, such as 401(k) plans, pension plans, profit-sharing plans and more.
There are no minimum account size requirements for new clients of Fiduciary Wealth Management.
Services Offered by Fiduciary Wealth Management
Fiduciary Wealth Management provides a wide range of advisory services that suit its typical clientele. Check out the full list below:
- Financial planning
- Investment planning
- Retirement planning
- Life insurance review and analysis
- Tax planning and minimization
- College fund planning
- Debt/Credit review and planning
- Discretionary investment supervisory services
- Personalized planning based on:
- Individual goals
- Risk tolerance
- Time horizon
- Investment policy statement (IPS) development
- Current investment evaluation
- Personalized planning based on:
- Pension consulting
- Plan design assistance for plan fiduciaries
- Implementation of plans
- Investment selection
- Ongoing investment monitoring
- Continuing plan participant education
- Specific investment advice for:
- Mutual funds
- Bonds and other fixed-income investments
- Debt securities
- Exchange-traded funds (ETFs)
- Real estate investment trusts (REITs)
- Government securities
Fiduciary Wealth Management Investment Philosophy
In order to serve each one of its clients in an optimal way, Fiduciary Wealth Management does a full evaluation of clients before working on their portfolios. This involves speaking with each client directly to outline his or her current financial situation, risk tolerance, time horizon and any specific financial objectives they may want to reach. Once your funds have been invested into the market, the firm’s staff will monitor and rebalance your portfolio if needed.
Although FWM remains heavily focused on long-term investing, it does occasionally institute short-term strategies. For example, this could be done to help meet a client’s liquidity needs or to hop on a trendy stock choice before it’s too late. Short-term trading, of course, can come with amplified risk, though.
Fees Under Fiduciary Wealth Management
The investment supervisory services at FWM roughly follow the fee schedule below, but the final negotiable fee rates you’re given will be listed on the final copy of your contract. These annual charges are split up into either monthly or quarterly percentages. You can have these payments pulled directly from your portfolio’s balance or receive an invoice that you can in turn pay.
|Fees for Investment Supervisory Services|
|Total Assets Under Management||Annual Fee|
If you’re a financial planning client, your fees will instead be hourly charges. Fiduciary Wealth Management’s financial planning rates often fall between $175 to $300 an hour. You will be charged these fees in advance.
Check out the table below to see how FWM’s fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Fiduciary Wealth Management*|
|Your Assets||Fiduciary Wealth Management Annual Fees|
What to Watch Out For
As a firm, Fiduciary Wealth Management has a clean legal and regulatory record on its Form ADV.
Certain advisors at Fiduciary Wealth Management have the opportunity to earn extra commissions from the sale of insurance products to clients. This policy could represent a conflict of interest, as advisors may be incentivized to make insurance recommendations regardless of whether they will benefit clients or not. FWM and its staff all abide by fiduciary duty, though, meaning they are legally bound to act in clients’ best interests at all times.
Opening an Account With Fiduciary Wealth Management
If you want to begin working with Fiduciary Wealth Management, simply call the firm at (703) 242-1231. Other modes of communication with FWM include sending a message through its web-based portal or emailing firm president Christopher J. Broderick at email@example.com.
All information is accurate as of the writing of this article.
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