Yes. MMPW is an employee-owned investment advisory firm registered with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940. Although registration of an investment adviser does not imply any level of skill or training, a registered advisory firm is bound by law to act in a fiduciary capacity with each client.
What type of clients do you represent?
Our clients include individuals, families, 401(k) plans, pension and profit-sharing plans, IRA rollovers, trusts, estates, and foundations. In addition, we serve as investment adviser, consultant and fiduciary to 401(k), pension and profit-sharing plans.
How are client relationships formalized?
Both the client and MMPW sign an investment management agreement which details our duties, responsibilities and obligations in general terms and in accordance with regulatory considerations. The contract may be terminated by either party upon written notice.
What services are included in wealth management?
In addition to managing clients’ investments, we also work with their other professional advisers and family members to coordinate additional aspects of their financial affairs. This coordination includes such matters as tax planning, retirement planning, estate planning, life insurance planning, college savings and charitable giving.
What services are included in retirement plan consulting?
Beyond selecting and monitoring a retirement plan’s investment options, MMPW serves as the plan fiduciary under ERISA Section 3(38). We also coordinate the plan’s administrative functions, provide participant education and offer an annual investment review for the plan sponsor.
How often do you meet with each client? Will I receive statements?
We will meet with clients as often as requested, not only to discuss the status and performance of the portfolio, but also to review the client’s overall financial situation and the possibility of a change in investment objectives. Clients will also receive quarterly statements providing a detailed summary of the assets in the account and an overview of investment performance. Other reports include a year-end capital gains and loss report and a year-end summary of the portfolio’s income and expenses.
Does MMPW use proprietary mutual funds in the portfolios under its investment management?
No. We do not serve as investment adviser to any mutual fund and, therefore, do not receive investment advisory fees from any mutual fund. Further, we do not receive any 12b-1 fees from mutual funds, nor do we receive any fees from revenue sharing arrangements. Mutual funds used in the investment management of our clients’ portfolios are selected strictly on their investment merits.
How does MMPW select the mutual funds used in client portfolios?
We are committed to an open architecture approach. Because we have no affiliation with a broker or financial institution, MMPW is free from using any proprietary funds. Our selection process is systematic and unbiased with the primary goal of selecting the best possible funds for client portfolios. From a universe of more than 25,000 mutual funds, we screen by classification and analyze each fund using specific investment criteria.
Will you hold my assets? Are you also my custodian?
MMPW serves as an investment adviser only. We never serve as custodian and therefore do not hold client assets. A third-party custodian is required, creating a dual level of responsibility and accountability for our clients. This allows for the separation of investment advisory services from the possession and control of client assets.
How is your firm compensated? Do you charge commissions?
We are a fee-only advisory firm and do not charge commissions. Our investment management fees are charged according to a published fee schedule based on the assets under management or as a flat fee, subject to negotiation. MMPW does not receive any compensation or benefit from the financial products utilized to manage clients’ accounts or from the trading of assets in our clients’ accounts.