Frequently Asked Questions

Which organization oversees and regulates your firm?

Wealth Advisors, LLC is a Registered Investment Advisor firm regulated by and registered with the Securites and Exchange Commission. For more information go to: www.sec.gov or www.nasd.com.

Who regulates the firm's principal investment strategist - John W. Day?

John W. Day is under the authority of and reports to the NASD - National Association of Securities Dealers, in addition to the Securities and Exchange Commission.

What type of authority will Wealth Advisors, LLC have over my investment accounts?

John W. Day and Wealth Advisors, LLC, acting as your investment advisor and strategist and with your written approval can have the authority to:

1. Execute trades and transactions in your designated Charles Schwab Institutional or Fidelity Investments account to implement your overall investment strategy and allocation plan.
2. Request a withdrawal by check, wire or ACH debit to be sent directly to you, or a transfer made to a like named account. No funds can be withdrawn or likewise transferred out in any other name except the name of record on the account.
3. Deduct management and investment advisory fees from your accounts per our Advisor Fee schedule and agreement. These fees are reflected in your monthly or quarterly Schwab or Fidelity statements.
4. View online, monitor, maintain, and discuss your accounts directly with you and you only.
   

How can I verify that John W. Day is a Fee-Only advisor?

John W. Day and Wealth Advisors, LLC have no agreements with any broker, dealer, association, partnership, corporation, individual or other investment advisor to receive any type of compensation from any trades or transactions in your account. Documents filed with the SEC and NASD attest to this fact and can be verified at the following websites: www.sec.gov or www.nasd.com (reference Form ADV Part I and Part II).

Are your Advisor Management Fees deductible?

IRS Code Section 212 states that investment advisory and financial planning fees incurred may be deductible as miscellaneous itemized expenses to the extent that they exceed 2% of your adjusted gross income.  Other miscellaneous fees paid for a safe deposit box, estate planning, tax preparation, legal and accounting services, also fall into this category.  We encourage you to seek professional advice from a Certified Public Accountant concerning deductiblilty of advisor fees or go to the IRS website:  www.irs.gov

Can you withdraw the funds in my account without my permission?

Absolutely not!  Your portfolio will be in the custody of Charles Schwab Institutional or Fidelity Investments Institutional.  Both custodians have implemented secure safeguards to protect you and your financial assets.  For example:

Any funds leaving your account will only be sent by the custodian directly to your address of record and in your name.  Your address cannot be changed without your written consent, and the Institutional Service Team verifies your signature matches the one they have on file for such a request.

Any money transferred out of your account (with the exception of the firm's investment management fees) may only be transferred into an account with the exact same registration and ownership.

Both custodians retain on file a copy of the firm's most current NASD Form ADV which states the firm's management fee schedule.  Any attempt to debit or withdraw from your account(s) for investment management fees in excess of the normal fee schedule is immediately flagged as an excessive percentage of your portfolio and rejected or fees may be validated with an appropriate reason (in the case of fees for several accounts being withdrawn from one account).

Is my personal and account information confidential?

 Yes. By law we cannot disclose any of your private or account information to anyone but you directly, or other authorized advisors (attorneys, accountants, estate planners). We regard our client’s information as highly confidential and take this matter very seriously. Our privacy policy statement is available upon request.

Do you hold any of my money directly?

 No. We will not take possession of cash or securities in any form, for any length of time. We will, however, immediately forward any funds received by our office to either Schwab Institutional or Fidelity Institutional via overnight delivery and verify the receipt of those funds.

Are my funds safe at Charles Schwab and Fidelity Investments?

 Absolutely. Both Charles Schwab and Fidelity Investments are members of the Securities Investor Protection Corporation (SIPC). Assets held by these brokers are insured by SIPC up to $500,000 for each separate account including up to $100,000 in cash.

This insurance DOES NOT protect your investment principal from market fluctuation or volatility; however, it does provide an amount of protection in the event of your custodian going out of business.

Do you require a minimum account size to become a client?

A minimum aggregate amount of $500,000 may be required to initiate the professional relationship between Wealth Advisors, LLC and a new client. We put our firm’s substantial experience, knowledge, and credentials to work for each and every client equally. An average new client relationship takes approximately 20 to 25 hours of meetings, consultations, reviews, and behind the scenes planning, preparation and implementation…and that’s just in the first few months! Continued diligence is required to monitor, review, and adjust portfolio allocations to provide the highest possible performance within the client’s investment strategy.

Do you offer advice concerning other investments such as retirement plans, pensions, and annuities?

Yes, as part of our service to our clients, Wealth Advisors, LLC can create custom portfolios in accounts held outside of Charles Schwab and Fidelity Investments. These portfolios may be self-directed with our help and advice, either through work-related retirement plans, supplemental insurance annuities or other investment vehicles.

Can I access my investment accounts directly?

Yes.  You may setup an online login and password to establish secure access to either Charles Schwab or Fidelity Investments' website.  Once there you may access your account values, positions, transaction history, investor profiles and past account statements and tax documents.  You also have access to online investment research and advice, as well as client services and help.  Try either website at: SCHWAB or FIDELITY.

What professional designations does John W. Day hold?

John W. Day holds the following professional designations:

    CIMA - Certified Investment Management Analyst

    ChFC - Chartered Financial Consultant

    IAR - Registered Investment Advisor

    CLU - Chartered Life Underwriter

    LUTCF - Life Underwriter Training Council Fellow

For more information on these designations and their requirements go to:  NASD-PROF DESIGNATIONS