Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
- Other
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Strategies Wealth Advisors, LLC Overview
Strategies Wealth Advisors, LLC is a fee-only registered investment advisory firm based in Grand Rapids, MI. Established in 2017, the firm provides comprehensive investment advice while solely on a fee basis. The firm assists its clients with various insurance products, selling additional financial products and providing them with customized financial plans. Strategies Wealth Advisors, LLC offers portfolio management services for individuals and small businesses. The firm tailors the investment strategies to fit individual needs and goals. Pension consulting is also available to help clients plan for their future financial security. In addition to investment services, the firm also offers Business and Tax Consulting services. They provide financial planning strategies and customized tax solutions to business owners, entrepreneurs, and high-net-worth clients. By offering an all-inclusive approach to financial planning, Strategies Wealth Advisors, LLC provides a comprehensive solution for clients looking for a complete financial portfolio.
STRATEGIES WEALTH ADVISORS, LLC is a financial advisory firm that offers a wide range of services to clients with varying financial needs. The firm works with individuals, high net worth individuals, pension or profit sharing plans, and other corporation types not listed. The firm's experienced advisors work closely with clients to understand their unique financial situations and tailor their services accordingly. When it comes to fee structures, STRATEGIES WEALTH ADVISORS, LLC offers flexibility and choice to their clients. Depending on the service provided, clients can choose between a percentage of Asset Under Management (AUM) fee structure, hourly fees, or fixed fees. The percentage of AUM fee structure is primarily applicable for investment management services and is calculated based on the total value of assets under management. Alternatively, clients may opt for hourly fees to pay for non-investment related services such as financial planning, tax planning, or estate planning. Some clients may choose fixed fees, which are typically used for specific financial services, including preparing tax returns, creating financial plans, or estate planning documents. Overall, STRATEGIES WEALTH ADVISORS, LLC aims to provide financial solutions that cater to clients' unique financial circumstances while offering a range of fee structures that best suits their needs.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure for Strategies Wealth Advisors, LLC does not mention an investment minimum.
How This Office Can Help Grand Rapids, MI Residents
Strategies Wealth Advisors provides comprehensive financial planning and investment management services to clients in Grand Rapids, MI. As Grand Rapids is a growing city in the Midwest, many of our clients are professionals in industries such as healthcare, education, and manufacturing. We work closely with clients to understand their unique financial situations and goals, providing a personalized approach to wealth management. Our team of experienced advisors can assist clients in a variety of financial situations, from planning for retirement and college expenses to managing and preserving wealth through investments. For those who are self-employed or own a small business in Grand Rapids, we also offer specialized services such as estate planning and tax planning. Whether clients are looking to build their wealth or protect it for future generations, Strategies Wealth Advisors is committed to providing expert guidance and support.
Services Offered by Strategies Wealth Advisors, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Strategies Wealth Advisors, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Strategies Wealth Advisors, LLC is registered to service clients in the following states:
- Arizona
- California
- Colorado
- Florida
- Illinois
- Indiana
- Michigan
- Minnesota
- Ohio
- Pennsylvania
- Texas
- Washington
- Wisconsin
Disciplinary History
Strategies Wealth Advisors, LLC does not have any disclosures. Please visit it's Form ADV for more details.