Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
Carolina Wealth Advisors Overview
Carolina Wealth Advisors is a fee-only registered investment advisory firm that is located in Myrtle Beach, SC. The firm has been in operation since 2020, and they specialize in providing investment advice only to their clients. As a fee-only firm, Carolina Wealth Advisors emphasizes transparency and puts their clients' interests first in all their services. The firm's primary services include financial planning, portfolio management for individuals and small businesses, and pension consulting services. With each service, Carolina Wealth Advisors offers tailored solutions that are customized to meet their clients' unique needs and goals. Their financial planning services help clients organize their financial affairs, identifying opportunities to save and invest while mitigating any potential risks. Carolina Wealth Advisors' portfolio management services provide clients with comprehensive investment strategies that align with their personal and business objectives. They take an active approach to investing, continually monitoring market trends and adjusting strategies as needed to achieve performance goals. Finally, the firm offers pension consulting services that help small businesses stay in compliance while developing and administering retirement plans that benefit both employers and employees. Overall, Carolina Wealth Advisors is a trusted partner for clients who want to grow and protect their wealth over the long term.
billing fixed fees CAROLINA WEALTH ADVISORS caters to various types of clients with different financial needs. Their client base includes individuals who require financial planning and investment management services. They also serve high net worth individuals who have complex financial portfolios and require personalized wealth management solutions. Apart from these client types, there are also other corporation types that the firm serves, which are not listed. CAROLINA WEALTH ADVISORS offers different fee structures depending on the service provided. Clients can choose to pay a percentage of the assets under management (AUM), which is commonly used for investment management services. Alternatively, clients can opt for hourly billing, which is suitable for financial planning or consulting services. For more customized solutions or one-time projects, the firm may offer fixed fees. These different fee structures provide flexibility and transparency for clients to choose the most suitable payment method.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure note for Carolina Wealth Advisors states that the firm does not require a minimum account size to open or maintain an advisory account. Therefore, there is no investment minimum mentioned in the brochure. Clients are free to invest as much or as little as they wish with Carolina Wealth Advisors. This allows investors of all sizes to benefit from the firm's wealth management services, regardless of their financial means.
How This Office Can Help Myrtle Beach, SC Residents
Carolina Wealth Advisors is dedicated to helping clients in Myrtle Beach, SC to secure their financial futures. The company provides a comprehensive range of financial services to assist their clients in making informed decisions about their investments, retirement plans, and financial goals. The team at Carolina Wealth Advisors takes a holistic approach to financial planning, focusing on long-term strategies, risk management, tax minimization, and estate planning. Living in Myrtle Beach, SC, comes with unique financial challenges that Carolina Wealth Advisors is qualified to help address. Many retirees and soon-to-be retirees live in Myrtle Beach, and therefore, their financial needs revolve around retirement planning. With its in-depth understanding of tax codes and the unique nuances of retirement planning, Carolina Wealth Advisors works to help clients to plan for their retirement. Additionally, because of the area's coastal location, many residents are susceptible to natural disasters, leading to an increased need for risk management and insurance planning. Carolina Wealth Advisors also provides guidance to those looking to save for college, buy a home, and plan their estates. Whatever the financial situation may be, Carolina Wealth Advisors is committed to providing top-quality financial advice to those in Myrtle Beach.
Services Offered by Carolina Wealth Advisors
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 Carolina Wealth Advisors 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.
Unavailable
Subscription (Newsletter or Periodical)
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.
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
- Mon 8:30 AM–5 PM
- Tue 8:30 AM–5 PM
- Wed 8:30 AM–5 PM
- Thu 8:30 AM–5 PM
- Fri 8:30 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
This firm has no other locations.
State Registrations
Carolina Wealth Advisors is registered to service clients in the following states:
- Florida
- Georgia
- New York
- North Carolina
- South Carolina
- Texas
- Virginia
Disciplinary History
Carolina Wealth Advisors does not have any disclosures. Please visit it's Form ADV for more details.