Q: Why do I need an investment advisor?
A: A good investment advisor should provide a service similar to your personal physician: they know you well enough to provide advice that will impact your life positively, and in a way you couldn't get by reading websites like WebMD. Your advisor should provide clear, straightforward advice that is conflict free. And they should clearly state how they get paid.
You need an investment advisor to select the proper investments, know your situation well enough to determine your risk to reward ratio, create a personalized portfolio based on your needs and personality, and provide the discipline to help you avoid making emotional decisions.
Q: How much money do I need to become a Vestory client?
A: Vestory has one of the lowest minimums in the industry. Our clients only need $250,000 dollars to open an account. We settled on this low minimum because we want to help every person we can with professional money management.
Q: How do you get paid for your services? Are there hidden fees or commissions?
A: Vestory charges no commissions of any kind. We get paid a percentage of the money we manage for you - 0.9% on first $1,000,000 we manage, 0.4% on the assets between $1,000,000 and $2,000,000, and 0.25% on assets over $2,000,000. As a fee-only advisor, our interests are aligned with yours.
Q: What services does Vestory provide?
A: In addition to money management, and access to Dimensional Fund Advisors mutual funds, we provide our clients with critical financial planning We will give you advice on your entire portfolio (not just the part we manage), help your children or grandkids, and provide you with an education about money and investing through our free classes, websites and radio show.
Q: After all of the news about “investment” scams, how do I know my money is safe?
A: Vestory never takes custody of your money, and never has direct access to it. We use Charles Schwab as custodian for your funds. Schwab is responsible for billions of dollars, and is federally insured.
Q: Do I need to sell all of my assets when I become a Vestory client?
A: The short answer is no. Our job is to help build the best financial for you we can. if you have the proper assets in your portfolio and don't need our help, we will tell you. If you need to make changes in your portfolio, we will provide a plan to do that. We may also suggest using Dimensional Advisors Funds as we believe they offer the best mutual funds available.
Q: What about the investments in my retirement plan at work?
A: Most of the time we can't manage your 401 (k) or other retirement assets. You may be able to get our professional management by using an in-service transfer (check with your company, each has different rules). If you are a client of ours, we will help you develop the best portfolio you can using the available funds in your retirement plan.
Q: How often will I meet with my Vestory advisor?
A: We are happy to meet with you every quarter. Most of our clients don't want to see us that frequently but we are more than happy to do so. Our clients can always chat with us by phone anytime they wish as well.
Q: Can Don McDonald be my investment advisor?
A: Don will be glad to review any portfolio and provide advice when needed. However, he doesn't act as an investment advisor for any of our clients.
Q: Can I buy and sell individual stocks and bonds? A: We are a passive money manager. Passive management means we don't try to time the market, we don’t try to pick individual securities, and we don't try to predict what is coming next. Our clients hire us to provide access to asset classes at low cost and to provide investment discipline. If you want to buy and sell stocks and bonds, you can certainly do so, but we won't provide oversight for those assets.
Q: How do I open an account with Vestory?
A: We want to get to know you before we open an account for you. To get that process started, please go to our contact form. Fill out the requested information and we will get right back to you.
Q: How can I get answers to other questions?
A: Feel free to contact us using our contact form or by phone at 800-386-3004. We are happy to assist you in any way. Our job is to help you write a great future story. Let’s get that process started today!