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Zhang Financial Review

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Zhang Financial LLC

Zhang Financial is a financial advisor firm located in Portage, Michigan. Its team of 12 financial advisors manage the firm’s almost $2.8 billion in client assets under management (AUM)

Zhang Financial personally works with well over 1,000 individual and institutional clients. It offers customizable investment portfolio management, as well as a wide range of financial planning services. This is a fee-only firm, as all of its compensation comes from client fees. This means that Zhang Financial avoids the conflicts of interest found at a fee-based firm, which may receive commissions from certain transactions.

Zhang Financial Background

Charles and Lynn Zhang founded Zhang Financial in 2012. Today, Charles Zhang acts as the firm’s CEO and Lynn Zhang holds two positions: chief compliance officer (CCO) and chief operating officer (COO). Since 2013, Charles Zhang has been ranked as the top financial advisor in Michigan, according to Barron’s. Barron’s also rated Lynn Zhang as the top female financial advisor in Michigan in 2014.

The firm's advisors and leadership hold a multitude of certification. In fact, Charles Zhang is a certified financial planner (CFP), chartered financial consultant (ChFC) and a chartered life underwriter (CLU), while Lynn Zhang is a CFP and a certified public accountant (CPA). The rest of Zhang Financial’s staff includes six CFPs, five CPAs, three CFAs, one certified divorce financial analyst (CDFA) and one certified employee benefit specialist (CEBS). This is a very well-qualified advisory staff.

What Types of Clients Does Zhang Financial Accept?

Zhang Financial mainly manages the assets of individuals (both with and without a high net worth), and more than 99% of its clients are individuals. However, the firm also works with pension plans, profit-sharing plans, charitable organizations and a few municipal governments.

Zhang Financial Minimum Account Size

At Zhang, the minimum account size for clients located in Michigan is typically $1 million. For anyone outside of Michigan, the minimum jumps to $2 million. However, these minimums are not set in stone, as Zhang Financial can choose to take on clients who don’t meet them.

Services Offered by Zhang Financial

Zhang Financial’s premier service is fee-only portfolio management. The company provides discretionary services via a wrap fee program. There are also plenty of financial planning services to choose from, such as:

  • Financial position analysis
  • Protection planning
  • Investment planning
  • Tax planning
  • Retirement planning
  • Estate planning
  • Employee stock option planning
  • College planning

Zhang Financial Investment Philosophy

Zhang Financial’s advisors use several investment analysis techniques when selecting securities for its clients’ portfolios. The firm is intently focused on low-cost and disciplined investing. It has access to plenty of asset classes which it uses to craft individual portfolios that meet the risk tolerance, time horizon and income needs of each client.

In order to adequately diversify, the firm invests in a range of asset classes and market sectors. Zhang Financial may invest in exchange-traded funds (ETFs), no-load mutual funds, annuities, certificates, stocks, bonds, 529 plans and other more specific portfolio management programs.

Fees Under Zhang Financial

Zhang Financial charges clients an annual fee based on the total amount of AUM they have across all of their accounts. The fee schedule below is for discretionary wrap fee accounts, as all of Zhang’s current accounts adhere to this structure. Zhang Financial reserves the right to amend this fee schedule based on client negotiation.

Investment Management Fee Schedule
$1MM to $2.5MM 1.00%
$2.5MM to $5MM 0.90%
$5MM to $10MM 0.80%
$10MM and up Negotiable

Financial planning services utilize a separate fee schedule. These clients are charged either a fixed fee from $250 to $20,000 or an hourly fee between $100 and $500. These rates vary depending on the specifics of the client’s financial situation.

Disclosures

Zhang Financial does not have any disclosures on its Form ADV, which means that it has no record of legal or regulatory issues.

Opening an Account With Zhang Financial

To open an account with Zhang Financial, you can go online to its website and submit a form, or call (888) 777-0126. You can also visit an advisor at any one of its six offices.

Where Is Zhang Financial Located?

Zhang Financial is headquartered in Portage, but it has four other Michigan offices in Battle Creek, Grand Rapids, Ann Arbor and Troy. The company also has a branch in Naples, Florida. You don’t have to live in Michigan or Florida to do business with Zhang Financial, though Michigan residents do have a lower minimum account size.

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How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research