Firm Size
Services Offered
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
Available Fee Structures
- Percentage of Assets Under Management (AUM)
Sound Portfolio Advisors, LLC Overview
Sound Portfolio Advisors, LLC is a fee-only investment advisory firm based in Mystic, CT that has been in business since 2021. As a registered investment advisory firm, their focus is on providing investment advice only, without receiving commissions or other incentives for recommending specific investments. This approach allows them to provide objective and unbiased advice that is in their clients' best interest. The firm's services include portfolio management for individuals and small businesses, with a goal of helping clients achieve their investment objectives through strategic asset allocation, diversification, and ongoing monitoring and rebalancing of their portfolios. They work closely with clients to understand their unique financial goals, risk tolerance, and investment preferences, and tailor their advice and portfolio management strategies accordingly. At Sound Portfolio Advisors, LLC, the client's needs and interests always come first. Their fee-only structure means that they are only compensated by their clients, not by any financial institutions or investment products they recommend. This ensures that their advice is always free from conflicts of interest and aligned with their clients' best interests. With their expertise and commitment to client service, Sound Portfolio Advisors, LLC is an ideal partner for individuals and small businesses seeking trustworthy and effective investment advice and portfolio management strategies.
SOUND PORTFOLIO ADVISORS, LLC is a full-service investment and financial management firm that serves a diverse range of clients. Their clients are mainly individuals who are looking to secure their financial future. They also cater to high net worth individuals who require specialized investment planning and management. The firm provides a range of services such as investment advice, portfolio management, retirement planning, and much more. Their team of experts takes a client-centered approach to financial planning, ensuring they deliver personalized solutions to each client. SOUND PORTFOLIO ADVISORS, LLC offers a range of fee structures depending on the service provided. The firm's most common fee structure is a percentage of the assets under management. The percentage charged varies depending on the size of the investment portfolio, with larger portfolios generally being charged lower percentages. This fee structure is commonly used in professional money management and is designed to align the interests of the firm and the client. Other fee structures available at SOUND PORTFOLIO ADVISORS, LLC include an hourly rate for financial planning services or a fixed fee for specific projects such as investment policy statements or estate planning. The firm ensures that all fee structures are transparent, competitive, and aligned with their client's financial goals and objectives.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Sound Portfolio Advisors, LLC is generally $500,000. This note is found in their Part 2 Brochure where it states that "Sound Portfolio generally requires a minimum relationship size of $500,000 to implement its investment process." It is important to note that this minimum may be waived at the firm's discretion.
How This Office Can Help Teton County, WY Residents
Sound Portfolio Advisors LLC assists clients in Teton County, WY by providing customized investment and financial planning services to help clients achieve their financial goals. Teton County is a highly affluent area, with a median home value of $1.9 million and a cost of living that is 356% higher than the national average. As such, many individuals in Teton County face unique financial situations, such as managing large inheritances, navigating complex tax laws, and diversifying their investments to protect against market volatility. Sound Portfolio Advisors LLC works with clients to develop comprehensive financial plans tailored to their specific needs. This may include asset allocation strategies to minimize risk, tax-efficient investment planning, estate planning to protect client assets, and retirement planning to help clients maintain their standard of living during their golden years. By understanding the challenges that clients in Teton County face, Sound Portfolio Advisors LLC is able to provide personalized financial guidance that is designed to help clients achieve their long-term financial objectives.
Services Offered by Sound Portfolio 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 Sound Portfolio 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.
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)
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
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Sound Portfolio Advisors, LLC is registered to service clients in the following states:
- Connecticut
- Florida
- New Hampshire
- New York
- Pennsylvania
Disciplinary History
Sound Portfolio Advisors, LLC does not have any disclosures. Please visit it's Form ADV for more details.