Flexible Plan Investments, Ltd. Review
Flexible Plan Investments is a financial advisor firm in Bloomfield Hills, Michigan with more than $1.65 billion in assets under management (AUM). The firm maintains advisory accounts with many types of clients, such as individuals, high-net-worth individuals, investment companies, charitable organizations, government entities, businesses and retirement plans.
Aside from the fees that clients pay Flexible Plan Investments for its services, the firm earns commissions from selling certain insurance products. That's a potential conflict of interest, and it makes this a fee-based firm (as opposed to a fee-only firm, which earn compensation solely from clients’ fees). Fortunately, the firm has a fiduciary duty to work in its clients' best interests.
Flexible Plan Investments Background
Flexible Plan Investments was founded in 1981 by Jerry C. Wagner. Wagner continues to serve as principal owner and president of the firm. He has around 40 years of experience in the financial services industry.
Two other advisors work alongside Wagner: Jason Teed and Timothy Hanna. Both Teed and Hanna are chartered financial analysts (CFAs).
What Types of Clients Does Flexible Plan Investments Accept?
Flexible Plan Investments works with more than 20,000 clients between its own advisors and its advisory affiliates. More than 17,000 of these clients are individuals, and the rest are split between high-net-worth individuals, investment companies, pensions and other retirement plans, charitable organizations, government entities and corporations.
Flexible Plan Investments Minimum Account Sizes
Flexible Plan Investments uses a variable minimum investment that shifts depending upon the services you subscribe to. Here’s an overview of these requirements:
- Group Retirement Plans: No minimum
- Small Accounts Program: $5,000
- FUSION Prime Program: $100,000
- Strategic Solutions/Jefferson National Life Monument VA: $15,000
Services Offered by Flexible Plan Investments
Flexible Plan Investments provides investment management services via three main strategies:
- Managed Solutions: This is for variable annuities, variable life insurance policies and select mutual fund platforms.
- Strategic Solutions: This is a mutual fund wrap fee program that’s typically custodied at either E*Trade Advisor Services or Jefferson Life Insurance Company.
- Group Retirement Plans: This involves the firm providing model portfolios and management to retirement plan participants or the plans themselves.
In addition to these primary services, Flexible Plan Investments may also act as a sub-advisor for other investment advisors.
Flexible Plan Investments Investment Philosophy
Flexible Plan Investments has more than 50 different investment strategies that it chooses from to help clients achieve their investment goals. Unless stated otherwise, these strategies involve investing primarily in mutual funds, exchange-traded funds (ETFs), exchange-traded notes (ETNs), annuities, insurance contracts, fixed-income or other investment securities.
Although these strategies will vary slightly in methodology, the overarching goal is mostly the same. More specifically, the firm looks to achieve a return that outpaces both inflation and a buy-and-hold strategy on a risk-adjusted basis. It aims to do this with as little risk as possible, which is good news for the risk-averse.
Fees Under Flexible Plan Investments
Flexible Plan Investments generally charges advisory fees as a percentage of your AUM. For accounts that aren’t part of the Group Retirement Plans service, the fee schedule goes as follows:
|Flexible Plan Investments Fees*|
|Assets Under Management (AUM)||Annual Fee|
|Up to $500,000||2.00%|
|$500,001 - $999,999||1.50%|
|$1,000,000 and above||0.70%|
Clients that utilize the Group Retirement Plans service will pay a fee between 1.35% and 1.75%, depending on the type of account you open and where it’s custodied. Flexible Plan Investments doesn’t charge performance-based fees.
What to Watch Out For
Flexible Plan Investments has entered into certain fee arrangements that allow it to earn commissions for the sale of specific insurance products. While this represents a potential conflict of interest, the firm is bound by fiduciary duty, legally binding it to act in your best interest.
If financial planning services are something you want, Flexible Plan Investments cannot oblige. Instead, the firm focuses solely on investment portfolio management.
Flexible Plan Investments has no disclosures on its legal and regulatory record with the U.S. Securities and Exchange Commissions (SEC).
Opening an Account With Flexible Plan Investments
Stop by Flexible Plan Investments’ website and fill out its contact form to have an advisor reach out to you about becoming a client. Alternative ways to reach the firm include calling (800) 347-3539 or emailing email@example.com. You should also feel free to drop by the firm’s office on Telegraph Road in Bloomfield Hills, Michigan.
Where Is Flexible Plan Investments Located?
Flexible Plan Investments is headquartered in Bloomfield Hills, Michigan, just north of the intersection of Telegraph Road and Long Lake Road. The firm’s office is roughly 25 miles northeast of Detroit, which is about a 30-minute drive.
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