Frequently Asked Questions
- Does Broad Street Capital Advisors require a minimum investment or particular level of net worth?
- How is Broad Street different from other firms?
- Can Broad Street help me with my will?
- How can Broad Street Capital Advisors help me with determining what types and amounts of insurance are right for me?
- Our company already has a retirement plan administrator. What can Broad Street offer our company and employees in the way of retirement plan service?
- I already have trusted financial, legal and tax counsel. How can Broad Street help me?
- Are there particular fund groups with which Broad Street works?
- What is meant by the term "fiduciary?"
Does Broad Street Capital Advisors require a minimum investment or particular level of net worth?
We approach each potential client differently and do not require a set dollar amount in order for clients to retain Broad Street's services. Our corporate retirement clients typically sponsor a participant-directed retirement plan and generally employ more than 50 people. Within our private client group we work with affluent individuals and family groups with a high level of investable assets to help create long-term strategies that enhance existing wealth. Our institutional clients are larger foundations and endowments that benefit from the development of a comprehensive investment policy.
To learn more about Broad Street's business, contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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How is Broad Street different from other firms?
We are not a brokerage firm. Instead, our team of professional consultants and analysts work with our clients' existing team of financial and legal professionals to develop comprehensive long-term strategies designed to achieve agreed-upon objectives. We bring the same comprehensive approach to our corporate, private and institutional clients. As an independent firm, we can help you solve your financial problems without the conflicts of interest that often arise in the financial planning industry.
To learn how Broad Street differs from other firms, contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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Can Broad Street help me with my will?
Yes. Our team of professionals will work with your existing legal and financial counsel to help you draft or revise your will according to what works within the context of your overall financial situation. As your financial manager, Broad Street strives to help you meet your philanthropic goals while seamlessly and appropriately transferring wealth to future generations.
To learn more about how Broad Street can you help you and your family plan for the future click here (private wealth page) or contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com
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How can Broad Street Capital Advisors help me with determining what types and amounts of insurance are right for me?
Jag Gholson CLU, brings 30 years of professional experience to Broad Street Capital Advisors. As part of our mission to help our private wealth clients create long-term comprehensive wealth management plans, we work with your insurance agent(s) to make sure that you are getting the most for your insurance dollar.
To learn more about Broad Street's insurance planning services, contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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Our company already has a retirement plan administrator. What can Broad Street offer our company and employees in the way of retirement plan service?
Broad Street's team of retirement plan specialist can help your retirement plan administrator manage their fiduciary responsibilities while minimizing expenses for the company. We implement a comprehensive corporate retirement plan management strategy that will help keep your company's plan in compliance with ERISA regulations. We also help clients coordinate education campaigns for employees on investment options, negotiate fees with retirement plan vendors on your behalf and regularly evaluate and monitor your company's plan.
To learn more about Broad Street's corporate retirement plan services click here (corporate retirement page) or contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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I already have trusted financial, legal and tax counsel. How can Broad Street help me?
We will help facilitate dialogue between our clients' existing team of accountants, attorneys and bankers, making sure all of our clients' advisors are on the same page and focused on the same long-term goals. We provide objective conflict free advice for a fee and our main business focus is investment and fiduciary consulting. Our ability to grow our business without the sale of financial products allows us to develop unbiased financial plans and strategies based on our clients' best interests—not the interests of particular fund management groups.
To learn more about Broad Street's private wealth services click here (private wealth page) or contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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Are there particular fund groups with which Broad Street works?
No. As an independent investment and fiduciary consulting firm, Broad Street Capital Advisors does not stand to gain anything by promoting particular funds. We have complete freedom to provide our clients with objective recommendations based on research and knowledge. While some firms give investment advice based on what benefits their bottom line, Broad Street provides objective counsel based on our clients' financial objectives.
To learn more about Broad Street's independent approach to investment advice, contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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How are Broad Street's asset management fees calculated?
We approach each client with a unique perspective and calculate fees based on each client's specific financial situation. Because we have no financial incentive based upon the financial product we may present to a client, we are able to offer unbiased strategic counsel designed to benefit our client's portfolio.
To receive a customized consultation based on your financial situation contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com.
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What is meant by the term "fiduciary?"
A fiduciary is defined as someone acting in a position of trust on behalf of or for the benefit of a third party. The term fiduciary can be divided further into these three groups:
Investment Steward -- A person who has the legal responsibility for managing investment decisions (trustees and investment committee members)
Investment Manager – A professional who has discretion to select specific securities for separate account, mutual funds, commingled trusts, etc.
Investment Advisor – A professional who is responsible for managing comprehensive and continuous investment decisions (trust officers, fiduciary advisors, investment consultants)
The appointment of a fiduciary is itself a fiduciary act. Frequently, individuals act as fiduciaries without knowing that they are doing so.
For example, an HR director who reviews and selects funds with a plan provider has become a fiduciary and is held to the rigorous standards of the Employee Retirement Income Security Act of 1974 (ERISA).
Plan fiduciaries can be held personally liable for a breach of the obligations and duties set forth by ERISA. A breach of ERISA regulations can result from direct action or inaction. For instance, neglecting to review the plan's investment options for a long period of time can expose a fiduciary to claims of liability, especially if these investments change focus or go through a long period of decline. In addition to selecting a plan's investment options, the fiduciary should regularly monitor the fees, costs, and overall performance of a plan's investment options.
Fortunately, fiduciaries can act to limit potential exposure by relying on a competent outside advisor to assist with these complicated matters. Broad Street Capital Advisors' Corporate Retirement Plan Consulting Division can assist you in meeting the prudent fiduciary requirements of ERISA.
To learn how Broad Street can assist you as your plan fiduciary click here (corporate retirement page) or contact us toll free at (888) 836-1166 or via email at info@bscadvisors.com
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