United Planners Financial Services
United Planners Financial Services offers both investment advisory services and broker-dealer services. The hybrid financial advisor also serves both clients and financial advisors and their clients.
United Planners is a fee-based firm. As for its advisory services, United Planners earns its compensation through asset-based fees, hourly fees, fixed fees and commissions.
The firm’s staff also offers a range of professional qualifications. These include the chartered financial consultant (ChFC), chartered life underwriter (CLU), accredited investment fiduciary (AIF), certified fund specialist (CFS) and chartered alternative investment analyst (CAIA) designations.
United Planners Background
United Planners began its operations in 1987 as a registered broker-dealer. In 2000, the firm became a registered investment advisor (RIA). The firm also holds membership in the Financial Industry Regulatory Authority (FINRA) and the Securities Investors Protection Corporation (SIPC).
United Planners’ Group, Inc. owns 45% of the firm and functions as its general partner. United Planners’ Group’s managers include Michael A. Baker, Billy Oliverio, Chad Shindel and Sheila Cuffari-Agasi. Several of the firm’s financial professionals also act as limited partners and own 55% of the company.
United Planners Client Types and Minimum Account Sizes
United Planners’ client base includes individuals, high-net-worth individuals, pension and profit sharing plans, charitable organizations and corporations.
The firm’s account minimums vary based on account type. For instance, accounts held at Pershing LLC have minimums ranging from $10,000 to $100,000. United Planners’ third-party custodian accounts generally come with a minimum of $10,000.
Services Offered by United Planners
United Planners offers the following services:
- Financial planning
- Portfolio management
- Pension consulting
- Selection of other advisors
United Planners Investment Philosophy
United Planners mainly uses investment advisor representatives (IARs) to manage client accounts. When researching securities, these advisors may employ fundamental analysis, technical analysis, charting analysis, quantitative analysis and cyclical analysis. Common investment strategies include strategic allocations, tactical allocations, absolute return, constrained and unconstrained strategies, various income strategies, long-term purchases, short-term purchases, trading, margin transactions and option writing.
Among the firm’s investment objectives are capital preservation, income, growth and income, long-term capital appreciation and speculation.
United Planners Fees
Fees for portfolio management services are based on the complexity of the advisory services, the professional level of the IAR providing the service and other market factors, according to United Planners’ brochure. Portfolio management fees are agreed upon in the investment management services agreement, but they can’t exceed 3.0% on an annual basis. United Planners also doesn’t specify financial planning and consulting advisory fees, as these are also determined between clients and their IARs.
What to Watch Out For
United Planners has four regulatory action disclosures listed on its Form ADV. Most recently, in 2019, the firm received a $100,000 fine after the State of Massachusetts alleged it failed to supervise the outside business practices of an advisor. The case was also settled through censure, disgorgement/restitution and cease and desist.
Another thing to consider is that United Planners is dually registered as a broker-dealer and an investment advisor. This allows certain advisors to offer investment products for commissions. This fee-structure can cause conflicts of interest if advisors ignore client suitability to recommend products with higher fees. United Planners says it abides by a fiduciary duty, but investors should keep these compensation arrangements in mind.
Opening an Account with United Planners
You can set up an account by visiting United Planners’ Scottsdale, Arizona office, or you can contact an advisor over the phone. You can also visit the firm's website for more information.
All information is accurate as of the writing of this article.
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