Mutual Advisors is a financial advisor firm based in Casper, Wyoming. The advisors at this fee-based firm work with both individual investors and institutional clients, offering portfolio management, financial planning and other services.
However, Mutual Advisors does not directly work with clients. Instead, it provides compliance, technology and operational services to investment advisor representatives (IARs) with their own client bases.
In addition to its headquarters in Wyoming, Mutual Advisors also has an office in Camarillo, California.
Mutual Advisors Background
Mutual Advisors was formed in 2013 as a business combination between Investment & Retirement Solutions, LLC and Mutual Securities, Inc. The firm is principally owned by the Sabol Wyoming Trust, the Jasper Wyoming Trust, Voss Wyoming Trust and the Damiani Wyoming Trust. It's principal officers are Managing Director Ryan Sabol, chairman Mitch Voss and COO Nick Damiani.
Mutual Advisors Client Types and Minimum Account Sizes
The firm provides investment advice to the following types of clients:
- High-net-worth individuals
- Institutional investors
- Qualified purchases and individual participants of retirement plans
- Pension and profit-sharing plans
- Other investment advisors
The firm has no set minimum account size, but it is up to each individual IAR as to whether he or she will impose an account minimum.
Services Offered by Mutual Advisors
As far as advisory services, Mutual Advisors may offer any combination of the following: investment management, financial consulting, advising or consulting for employer-sponsored plans, institutional advice/consulting and a selection or recommendation of third-party money managers.
With regards to investment management services, Mutual Advisors offers clients both discretionary and non-discretionary services. Advisors work with clients to make recommendations based on the objectives and goals of the client. IARs use many investment types when making these recommendations and purchases, including but not limited to equity securities, fixed-income securities and mutual funds.
For account programs that are managed through third-party investment advisors, the firm first gathers information from the client about their financial situation, investment objectives and any other relevant information in order to help select a third-party money manager. For ERISA plan advisory and consulting services, the firm offers these either separately or in combination. As noted above, clients who can receive these services may include pension, profit-sharing and 401(k) plans.
If clients seek financial consultation services, clients will have the ability to have their portfolio reviewed by an IAR for a negotiated fee. Financial consultations may or may not be implemented in conjunction with any of the firm's other programs. Financial consulting services are offered to individuals, families and other clients and are based on their current situation, goals and objectives. Consultation services cover one or more of the following areas: investment planning, retirement planning, estate planning, charitable planning, education planning, corporate and personal tax planning, real estate analysis, mortgage/debt analysis, insurance analysis, business and personal financial planning.
Mutual Advisors also sponsors wrap fee programs, which are accounts managed on an individual basis according to the client specific objectives, goals and risk tolerance. These accounts are managed on either a discretionary or non-discretionary basis depending on the agreement signed between the IAR and the client. The client usually pays a bundled fee to the firm instead of paying separately for different services and other charges.
Mutual Advisors Investment Philosophy
Mutual Advisors' RIAs typically use fundamental, cyclical, charting and/or technical analysis when selecting individual securities. Advisors choose categories of investments based on client attitudes about risk and their specific needs regarding capital appreciation (increase in the value of assets) or income. Each client account is treated in a unique way depending on its objectives.
Fundamental analysis involves looking closely at particular metrics of a stock to assess whether its value is realistic; the firm may evaluate the fundamental financial condition and competitive position of a particular fund, issuer or company. Technical analysis involves examining historical market data, often relying on mathematical indicators and charts to identify market patterns and trends. Cyclical analysis involves looking at the relationship between market cycles and prices to forecast future price movement.
RIAs may use the Modern Portfolio Theory (MPT) approach of using diversification in order to minimize risk and optimize potential return. Its basic investment strategy is to see real capital growth according to the level of risk the client is willing to take. Advisors use multiple asset classes and investment styles to achieve this diversification. Each portfolio is composed according to clients' particular investment objectives, risk tolerance and time horizon. The firm uses both passive and active investment management strategies to do this. After laying out the approach, developing and implementing a plan, the firm continues to monitor the results and make adjustments as necessary.
Of course, all potential and current clients must keep in mind that no investment strategy guarantees against risk or loss.
Fees Under Mutual Advisors
For investment management services at Mutual Advisors annual fees are based on how complex the client's financial situation is, what services they use, the experience and standard of fees charged by the IAR and the nature and total dollar value of the client's assets under management (AUM). Fees are negotiable between the client and the RIR; as such, will vary from client to client and there is no set fee schedule. The fees charged are based on the agreement signed between the IAR and the client. Fees may include a minimum quarterly fee, which may also be waived at the advisor's discretion.
However, annual fees range up to 2% per year and are assessed and/or charged quarterly or monthly in advance. Management fees are typically debited directly from the custodial account.
For ERISA plan advisory and consulting services, the firm charges fees based on a percentage of the AUM for which the firm provides services. This percentage is negotiable up to 1% annually. Fees charged for consulting services may be based on an hourly rate, percentage of AUM or a flat fee.
For a financial consultation services, the total fee is based on the scope and complexity of the services offered to the client. These are based on the estimated time to complete the project or negotiated differently as per the agreement with the client.
For the wrap fee program, clients pay a total, all-inclusive fee for services. The annual management fee for this program is based on the complexity of the clients financial situation, services provided, experience and standard of fees charged by the advisor and the total AUM in the account. Again, fees are negotiable with the IAR and vary from client to client. The annual fee for the wrap fee program ranges up to 2.25% per year. This fee is bundled with the firm's or third-party money manager's costs for executing transactions in the account. This fee may also include other services, such as financial planning.
Fees and expenses may vary and additional fees may apply, so be sure to read agreements carefully and contact the firm if you have questions.
Learn more about advisors' typical costs here.
What to Watch Out For
Within the past 10 years, Mutual Advisors, LLC has not undergone any disciplinary or legal action deemed material to a client’s evaluation of its business integrity. You can view its latest Form ADV on the official website of the Securities & Exchange Commission (SEC). As an SEC-registered investment advisor, the firm is legally obligated to uphold its fiduciary duty and work in clients’ best interests at all times.
However, it's important to note that some RIAs may be representatives of a broker-dealer and/or licensed insurance agents. As a result, they may be able to earn commissions for recommending or selling third-party products and services. This creates the potential for a conflict of interest, since these advisors have a financial incentive to recommend products and services for the purpose of generating a commission, rather than solely meeting the needs of an advisory client. But as an SEC-registered firm, Mutual Advisors and its RIAs must abide by fiduciary duty to always act in the client's best interest.
Opening an Account With Mutual Advisors
To open an account with Mutual Advisors, you can visit the firm's website or call (800) 200-6205.
All information is accurate as of the writing of this article.
Tips for Finding a Financial Advisor
- Interview at least three advisors before choosing one. This ensures that you have enough context about fees and investment strategies to make an informed decision. To find more advisors in your area, use our interactive financial advisor matching tool. It links you with up to three local pros.
- Ask candidates whether they adhere to the fiduciary standard of putting clients’ interests first. Yes is the ideal answer, of course. But they may follow a lower standard of providing only suitable recommendations.