Monument Wealth Management is a fee-based financial advisor firm that’s based in Alexandria, Virginia. It has a small group of six advisors that handle nearly $276.5 million in assets under management (AUM). Monument takes care of around 260 client accounts, nearly all of which belong to high-net-worth individuals and non-high-net-worth individuals.
Monument Wealth Management Background
Monument Wealth Management is an independent firm that opened its doors in 2012. The firm’s co-presidents and co-founders David Armstrong and Dean Catino remain principal owners to this day. The duo has spent, on average, 18 years in the financial services industry.
Although the staff at Monument is fairly small, it does boast a few advisory certifications. In fact, the firm employs three certified financial planners (CFP), two chartered financial analysts (CFA) one chartered retirement planning counselor (CRPC) and one certified private wealth advisor (CPWA).
What Types of Clients Does Monument Wealth Management Accept?
Although individuals are often the most common client type at financial advisor firms, Monument Wealth Management’s client base is almost entirely made up of individuals with and without a high net worth. Its clientele is further divided among estates, trusts, charitable organizations, businesses, pension plans and profit-sharing plans.
Monument Wealth Management Minimum Account Size
There are no minimum account size requirements at Monument Wealth Management.
Services Offered by Monument Wealth Management
The services available at Monument Wealth Management are fairly standard. They are divided into three overarching categories: investment management, asset management and financial planning. Check out its specific offerings below:
- Investment management
- Wrap fee program available
- Discretionary management
- Security trade execution
- Custodial services
- Return reporting
- Asset management
- Continuous and active account supervision
- Customizable account management based on:
- Personal financial circumstances
- Risk tolerance
- Investment objectives
- Investment advice
- Financial planning
Monument Wealth Management Investment Philosophy
Monument Wealth Management utilizes a five-step process that aims to take you from a new client to a fully integrated account holder. Everything begins with a “blueprint meeting” with your advisory team to iron out exactly what your financial goals, risk tolerance, liquidity needs and time horizon are. This information will then allow the firm to formulate a specific financial plan not only for the present, but also the future.
Your financial plan is then implemented as an investment portfolio. Monument focuses on three principles throughout all of its portfolios: tax efficiency, widespread diversification and low trading cost. Once your money is invested, the firm pledges to continue the management of your account. This involves rebalances, regular evaluations of your financial plans, support for you and your family and more. Exchange-traded funds (ETFs), stocks, mutual funds and structured notes are Monument’s premier investment types.
Fees Under Monument Wealth Management
Monument Wealth Management’s asset management and investment management services share a fee schedule, whereas its financial planning services adhere to their own specifications. Because asset and investment management services operate on a wrap fee, all charges are combined into a single percentage. Depending on the complexity of your situation, your fee rate will range up to a maximum of 1.75% annually. This charge is paid quarterly, in advance, and it is based on the value of your account on the last business day of the preceding quarter. Payments will be debited directly from your account.
On the other hand, financial planning at Monument calls for fixed fees that normally reside between $2,500 and $25,000. Factors such as the services you’re receiving, the overall intricacy of your situation and if you have any past relationship with the firm will come into play when determining your rate. All fees will be quoted to you prior to being implemented. You may need to pay 50% of your charges upfront, with the rest due upon the completion of your financial plan.
What to Watch Out For
Monument Wealth Management is a fee-based firm, meaning it and its advisors make money from more than just the management fees charged to clients’ accounts. In Monument’s case, some of its employees have the opportunity to earn additional commissions on the sale of certain securities and insurance products. However, the firm is a registered fiduciary, meaning its advisors are legally bound to act in your best financial interests at all times.
According to its SEC-filed paperwork, Monument Wealth Management has a clean legal and regulatory record.
Opening an Account With Monument Wealth Management
The best way to join forces with Monument Wealth Management is to either visit the firm in Alexandria, Virginia or call (703) 504-9600. You can also reach the firm via email at firstname.lastname@example.org.
If you prefer a more private route of communication, Monument offers an online contact form that will allow its advisors to contact you. All you need to give is your full name, email address, your company name (if applicable) and a short description of what you’re looking for.
Where Is Monument Wealth Management Located?
Monument Wealth Management has just one location in Alexandria, Virginia. Its exact address is 1701 Duke Street, Suite 425. You’ll find it right down the street from Joe Theismann’s Restaurant.
Tips to Boost Your Investment Return Potential
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