What is the fee schedule for Beekman Wealth Advisory?
Since every client engagement is different, there is no set fee schedule. However, fees are always (1) pre-specified; (2) in flat dollar amounts (not based on percents of assets, hours worked, or other variable factors); and (3) agreed to in writing by each client in advance of the engagement. There is never a surprise with respect to fees charged.
Does Beekman Wealth Advisory outsource any work?
All analytical work is performed by Ms. Anderson personally. Beekman Wealth Advisory operates as a manager-of-managers, which means that selection of individual securities is delegated to outside money managers recommended by BWA, based on its analysis, and hired by the client. Additionally, BWA uses WealthTouch, an independent performance-reporting firm based in Denver, Colorado, for performance reporting. (Smaller portfolios, such as custodial accounts investing only in public mutual funds, are tracked via Morningstar.) Files are maintained in a secured electronic format by Digiscribe International.
How does the process work?
Investors contact Ms. Anderson, via this website, via email, or on the phone. An initial meeting is arranged, in order to discuss the client’s issues and why he or she is seeking assistance. There is no charge for this meeting, which typically lasts about two hours. It may take place either at the client’s site (home or business) or in BWA’s offices. The client typically provides background material, such as copies of brokerage statements, to be used in Ms. Anderson’s initial assessment and proposal.
If the client and Ms. Anderson agree that an engagement would be helpful, an Engagement Letter is created, detailing the background situation, work to be performed, timetable, and fee. Upon the client’s acceptance of this Engagement Letter, the analytical work can commence.
What is the minimum investment size for BWA clients?
There is no absolute minimum, though most BWA clients have assets of $10 million or more. Investors who have complex issues but a smaller investment base can often be accommodated on a project basis.
Additionally, BWA works with very small portfolios, such as custodial accounts for minors, in the context of the overall relationship with each family.
Why doesn’t BWA provide more detailed performance information?
Beekman Wealth Advisory works with each client to customize his or her portfolio, which includes retaining value-adding managers in which incoming clients already invest. There is no “typical” package of investments, and therefore “average” performance would not be meaningful.
What’s the story behind the BWA logo?
The Beekman Wealth Advisory logo is an open book. It represents the transparency and clarity with which we strive to serve our clients. The four pages represent four fundamental practices and values of the firm:
- “Bookish” mindset: We’re analysts, not salespeople.
- Operational transparency: Fully-disclosed flat-dollar fees only; no conflicts of interest.
- Straightforward communications: No spin.
- Education in all we do.