Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Educational Seminars & Workshops
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Fixed Fees (Other than subscription)
Washington Avenue Advisors Overview
Washington Avenue Advisors is a fee-only Registered Investment Advisory firm that operates out of Lansing, Michigan. The firm has been providing investment advice and financial planning services since its inception in 2020. It can be classified as an insurance broker/agent firm that offers a broad range of services that cater to the needs of both individuals and small businesses. One of the most compelling aspects of Washington Avenue Advisors is that it is a fee-only firm, meaning that it receives compensation solely from the clients it serves, rather than from commissions or other forms of third-party payments. This provides peace of mind to clients who can be confident that the advice they receive is unbiased and solely focused on their financial best interests. The firm's core services include financial planning and portfolio management, both of which are customized to best meet the specific needs of each individual or small business. This tailored approach ensures that clients are provided with investment advice and services that are specifically tailored to their unique investment goals and objectives. As a result, Washington Avenue Advisors is an ideal option for those seeking personalized and customized investment advice.
WASHINGTON AVENUE ADVISORS is a full-service financial advisory firm with a diverse clientele. When it comes to the types of clients served, the firm works with individuals, high net worth individuals, charitable organizations and other corporation types not listed. The team at WASHINGTON AVENUE ADVISORS understands that each client's financial situation is unique, and as such, they tailor their services to suit each client's specific needs. The fee structures available at WASHINGTON AVENUE ADVISORS are designed to be flexible and transparent. Depending on the service provided, clients can choose between two fee structures. Firstly, clients can opt for a percentage of AUM (assets under management) fee structure where the firm will take a percentage of their overall assets managed. This fee structure is often preferred by high net worth individuals who want to ensure their investment portfolios are managed carefully. Secondly, WASHINGTON AVENUE ADVISORS offers fixed fees, which are ideal for clients looking for specific advisory services without requiring ongoing management of their investments. Overall, WASHINGTON AVENUE ADVISORS’ fee structures are designed to provide each client with the flexibility they need to ensure they receive the best value for their investment.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for Washington Avenue Advisors does not mention anything about their investment minimum. It is possible that they do not have a set minimum investment requirement, or they may only disclose this information to potential clients during a consultation or in private materials. It is important for investors to thoroughly research any firm they are considering investing with and to ask specific questions about investment minimums and other requirements before making any decisions.
How This Office Can Help Lansing, MI Residents
Washington Avenue Advisors is a leading financial service provider that assists clients in Lansing, MI, with their financial situations. The firm offers a range of services that help individuals and businesses navigate complex financial situations. One of the most common financial challenges faced by individuals in Lansing, MI, is developing a comprehensive retirement plan that will sustain their lifestyle after they retire. With the help of Washington Avenue Advisors, clients can plan and manage their retirement funds to ensure that they have a secure financial future. Another common financial issue faced by businesses in Lansing, MI, is managing tax liabilities. Washington Avenue Advisors offers a range of tax planning and preparation services that can help businesses comply with tax regulations while minimizing their tax liability. The firm also assists clients in developing investment strategies to maximize profits and minimize risks. Overall, Washington Avenue Advisors is dedicated to helping clients in Lansing, MI, achieve their financial goals and secure their financial futures.
Services Offered by Washington Avenue 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 Washington Avenue 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.
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
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.
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
- Mon 8 AM–5 PM
- Tue 8 AM–5 PM
- Wed 8 AM–5 PM
- Thu 8 AM–5 PM
- Fri 8 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
This firm has no other locations.
State Registrations
Washington Avenue Advisors is registered to service clients in the following states:
- California
- Colorado
- Florida
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Michigan
- Nebraska
- New Hampshire
- North Carolina
- Ohio
- Texas
Disciplinary History
Washington Avenue Advisors does not have any disclosures. Please visit it's Form ADV for more details.