Bromfield Sneider Wealth Advisors, Inc. is registered as an investment adviser with the U.S. Securities and Exchange Commission. Investment Advisory Services and Brokerage fees differ, and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
What investment services and advice can you provide me?
Accounts: We offer our wealth management services to clients, servicing both retail non-qualified and qualified accounts. Investments: Using asset allocation methodology, we predominantly use low cost, passively managed, mutual funds and exchange traded funds to construct portfolios.
Monitoring: We monitor portfolios and securities in accounts on an ongoing basis. We communicate with you frequently and also offer to meet more often, depending on your needs. Investment Authority: We provide our services on a continuous discretionary basis. We execute investment recommendations and specific transactions in accordance with your investment objectives and unique needs. Our engagement will continue until you notify us otherwise in writing. Limited Investment Offerings: We do not make available or offer advice with respect to proprietary products nor do we offer a limited menu of products or types of investments. Account Minimums and Other Requirements: We require an account minimum of $1,000,000 in order for you to open an account or establish a relationship.
For more detailed information on our relationships and services, please see Item 4 – Advisory Services and Item 7 – Types of Clients of our Form ADV Part 2A.
- Given my financial situation, should I choose an investment advisory service? Why or why not?
- How will you choose investments to recommend to me?
- What is your relevant experience, including your licenses, education, and other qualifications? What do these qualifications mean?
What fees will I pay?
You will pay an ongoing asset-based fee for wealth management services, which integrates portfolio management with ongoing financial planning advice. This fee will be assessed at the beginning of each quarter and is calculated as a percentage of the value of the cash and investments in your account[s] that we manage. Conflicts of Interest: The more assets in your advisory account, the more you will pay in advisory fees, and we therefore have an incentive to encourage you to increase the assets in your account. Other Fees and Costs: In addition to our advisory fee, you will also be responsible for custodian fees, account maintenance fees, fees related to mutual funds, and other transactional fees. Our advisory fee rates decrease as assets under management increase. In addition, we aggregate accounts to create a household for family members and assess fees on the total amount in those accounts.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
For more detailed information on our fees, please see Item 5 – Fees and Compensation of our Form ADV Part 2A.
- Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
What Are Your Legal Obligations to Me When Acting as My Investment Adviser? How Else Does Your Firm Make Money and What Conflicts of Interest Do You Have?
When we act as your investment adviser, we have to act in your best interest and not put our interests ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Although independently owned and operated, we will recommend that you open your account with a specific custodian, where we have an institutional relationship and receive economic benefits, although not a material consideration when determining whether to use the services of a particular broker/dealer. You ultimately decide where to open your accounts. Choosing a different custodian may result in the loss of quality of service and/or ability to obtain favorable transaction prices. In addition, we have a financial incentive to recommend that you rollover retirement plan assets into an IRA we manage; however, we seek to educate you on your options and the fees and benefits associated with each choice and then allow you to choose which you feel is in your best interest.
For more detailed information on conflicts of interest, please see Item 12 – Brokerage Practices and Item 14 – Client Referrals and Other Compensation of our Form ADV Part 2A.
- How might your conflicts of interest affect me, and how will you address them?
How Do Your Financial Professionals Make Money?
Our financial professionals are compensated based on an agreed upon annual salary and a percentage of profits earned by the firm as a whole. This means financial professionals have an incentive to increase the asset size in the relationship or solicit new business.
Do you or your financial professionals have legal or disciplinary history?
No. You can visit www.investor.gov for a free and simple search tool to research our firm and our financial professionals.
- As a financial professional, do you have any disciplinary history? For what type of conduct?
You can find additional information about our investment advisory services by visiting www.sec.gov/check-your-investment-professional and searching with our CRD #125623 or by visiting www.bromfieldsneider.com. You can request up to date information and a copy of our client relationship summary by contacting us at firstname.lastname@example.org or (617) 252-3400.
- Who is my primary contact person? Is he or she a representative of an investment adviser? Who can I talk to if I have concerns about how this person is treating me?