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Business Description |
| My Mission Statement is: "Helping People to Build, Preserve & Distribute Their Wealth Through Ethical & Effective Wealth Management". The primary focus of my proprietary investment management process reduces risk during declining markets to avoid significant losses in portfolio values and still participate in the majority of an advance in rising markets. My motto is "advance and protect". Since 1993, this active management approach is designed to optimize risk-adjusted returns. Respecting financial planning engagements/advice; my passion is to provide optimal solutions to help clients achieve their personal goals and dreams. I aspire to have a life long and mutually rewarding relationship with every client. |
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General Information |
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| Insurance License#: |
Social Security #
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| Name of Broker/Dealer: |
LPL Financial Corporation
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| Name of Custodial Firm: |
LPL Financial Corporation
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| States Licensed in: |
IL,AK,AZ,CA,CO,FL,GA,IN,KS,MD,MI,NC,NJ,NY,PA,TX,WI,WV
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| States Willing to do Business in: |
Every State
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| Years of Experience in Financial Services: |
31
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| Number of Years with Current Firm: |
18
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| Work Experience: |
10/1992 to Present; Optimal Wealth & Investments, Inc., President & Chief Investment Officer
1/1992 - 10/1992; Index Futures Group, Chief Financial Officer
10/1978 - 1/1992; Chicago Mercantile Exchange, World's Largest Futures & Commodity Exchange, Vice President - Financial Regualtion
6/1976 - 10/1978; KPMG, "Big Four International Accounting Firm", Senior Tax Specialist & Senior Auditor
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| I work with the following types of clients: |
Charitable Foundations, Businesses, Individual Investors, Non-Profit Organizations
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Education |
| Academic Background |
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BS, Accounting (Highest Honors) - DePaul University (1976)
MBA, Investment Finance (High Honors)- DePaul University (1984) |
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Services |
| Investment Types: |
ETFs, Mutual Funds, Alternative Investments, Mortgages & Real Estate, Exchange Traded Funds (ETFs), Bonds, Stocks, Annuities, Commodities, Insurance, Socially Responsible Investments (SRI)
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Qualifications & Memberships |
| Certifications, Accreditations & Designations: |
CERTIFIED FINANCIAL PLANNER™ Certificant, Certified Public Accountant (CPA), Accredited Asset Management Specialist (AAMS®), Personal Financial Specialist (PFS), Chartered Mutual Fund Counselor (CMFC®)
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| Securities Licenses: |
Series 65, Series 63, Series 24, Series 7
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| Insurance and Annuity Licenses: |
Annuity, Disability, Variable Life, Health, Variable Annuity, Life, Long Term Care
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| Financial Organization Memberships: |
Financial Planning Association (FPA), American Institute of Certified Public Accountants (AICPA), NAAIM, Paladin Registry
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| Non-Financial Organization Memberships: |
Naperville Chamber of Commerce
Crossroads Community Church
Naperville Country Club
Stone Canyon Country Club
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Firm Information |
| Number of Advisors in Office: |
Up to 10 employees
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| I work with clients as part of a team: |
Yes
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| Firm's Number of Clients: |
180
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| Firm's Number of Planning Clients: |
160
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| Firm's Number of Managed Clients: |
160
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| Assets Managed by Firm: |
$82,000,000
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| Advisor's Number of Clients: |
180
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| Advisor's Number of Managed Clients: |
160
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| Advisor's Number of Planning Clients: |
160
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| Assets Managed by Advisor: |
$82,000,000
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Compliance |
| Registered Investment Advisor: |
Yes
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| Registered Representative: |
Yes
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| Investment Advisor Representative: |
Yes
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| I am an acknowledged fiduciary: |
Yes
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| Compliance Disclosures in Last 5 years: |
I have a clean record
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| Criminal Disclosures in Last 5 years: |
I have a clean record
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Compensation & Fees |
| Fee Structure: |
I am a fee-based financial professional
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| Minimum Portfolio Size for New Managed Accounts: |
$250,000
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| Compensation Methods: |
Flat Fee, Hourly, Based on Assets, Commissions
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| Fee % Based on Assets: |
1.00-1.75%
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| Additional Details on Charges: |
Advisory fees for Portfolio Management vary based on assets under management and whether the portfolio is actively or passively managed. Hourly and flat fees apply to financial planning engagements and advice.
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| Minimum Fee Charged for Hourly Planning Accounts: |
$250
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| Prepared By: |
Kevin P. Holland, CFP®, CPA/PFS, AAMS, CMFC, MBA |
Frequently Asked Questions |
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Do you have a customer satisfaction or refund policy? |
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A full or partial refund will be given if client is not fully satisfied with the financial planning advice. A pro rata portion of investment advisory fees are refunded when an investment advisory account is closed. |
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| Q. |
What are your qualifications? What is your education background? |
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Professional Designations: CPA/PFS, CFP, AAMS, CMFC
Education: BA - Accounting (Highest Honors) DePaul University; MBA - Investment Finance (High Honors) DePaul University; Past Chairperson Personal Financial Planning Committee - Illinois CPA Society
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| Q. |
What is your approach to financial planning? |
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Comprehensive & holistic in nature. Segmented/issued based also offered. |
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| Q. |
What services do you offer? |
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Active & passive investment management. Investment work is nearly all in advisory accounts with a very small percentage (< 5%)in commission accounts. Financial plannning advice is also provided in areas such as; investments, insurance, estate planning, retirement planning, college funding, debt management, cash flow, succession planning, charitable giving, etc. |
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| Q. |
How many clients do you currently manage? |
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Optimal Wealth & Investments, Inc. has approximately 160 active clients. |
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| Q. |
Will you be the only person working with me? |
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Yes with respect to advice. |
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| Q. |
How are you compensated? How will I pay for your services? |
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Investment services are nearly all (>95%)based on advisory fees based on amount being managed and whether portfolio is actively or passively managed. Accounts not meeting our advisory account minimums are generally invested in load mutual funds. Financial planning related fees are based on an hourly fee or project fee. |
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| Q. |
If you are going to manage my account, will you obtain my permission every time you buy or sell something? |
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Virtually all the advisory investment accounts are managed on a discretionary basis using no load institutional class mutual funds & Exchange Traded Funds. Permission for discretion needed for individual securities. |
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| Q. |
Do you offer any guaranteed results? |
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No, it is illegal to guarantee investment returns! |
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| Q. |
How much risk should I be willing to take? |
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Client's risk will depend on several factors including but no limited to: objective of the funds invested, time horizon before funds are needed, risk tolerance of client, past experiences as an investor, neeed for liquidity, current financial & cash flow positions, etc. A clients willingness & ability to assume a given level of risk is likely to change due to personal & outside influences. |
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| Q. |
Have you ever been charged with any breaches? |
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What carrier(s) do you represent? |
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Several. I'm not a captive agent. |
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| Q. |
Are there any pre-existing conditions that you can not cover? |
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How long does it take to complete the application and approval process? |
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Is there a maximum age that you can insure? |
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Depends on particular insurance company. |
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| Q. |
What services do you provide? What are your specialties? |
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OWI is a comprehensive wealth management advisory firm. Services include: financial planning, investment management (active & passive), and insurance coverage implementation. |
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| Q. |
What is your experience? How many clients do you currently manage? |
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I've been a professional in the financial planning/investment/insurance business for 27 years. Prior to that practiced as a CPA for KPMG (Big 4 Accounting Firm) in taxation and auditing. Manage approximately 180 household clients, 160 actively. |
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| Q. |
What financial institution(s) do you represent? |
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My broker dealer custodian is LPL Financial, the largest independent broker dealer in the U.S. Able to represent several insurance companies. |
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| Q. |
How do you charge for your services? |
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Predominately advisory fees for investment management, with very little in commissions. Financial planning related advice based on flat fees or hourly fees. |
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| Q. |
Do you provide a free initial consultation? |
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Yes, which generally lasts between 1 - 2 hours. |
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| Q. |
Why should I choose you as my financial advisor? |
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Extraordianary technical expertise in wide range of disciplines due to experience, designations and quest for perfection. My prior role as VP - Financial Regulation - CME Group is but one indication of the trust others place in me. I embrace the fudiciary relationship I have with clients. |
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| Q. |
What are your management fees? |
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I provide ongoing investment advice to 401k Plan participants with respect to their investment options, including self directed brokerage accounts, when available to plan participant. Flat fee arrangement depends on nature of engagement. |
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What kind of plans do you specialize in? |
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All corporate and not for profit retirement plans. |
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| Q. |
Do you have a minimum requirement for number of employees or total investment value? |
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What type of plans do you offer? |
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Do you offer any additional services? |
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Investment advice respecting investment options in plans. |
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| Q. |
What are your qualifications? |
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Professional designations and experience coupled with course work specifically on 529 Plans reflect my expertise. |
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What is your approach to Education Planning? |
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Comprehensive & holistice in nature in seeking optimal solutions for college funding. |
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| Q. |
How long does the process of setting up an Education Plan usually take? |
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Engagements vary. Typical engagements last about 2 hours. |
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| Q. |
What financial institutions do you represent? |
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My broker dealer custodian is LPL Financial. I represent numerous mutual fund companies which have 529 Plans, Coverdall Education Plans, etc. |
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| Q. |
How many years of experience do you have? |
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I have 31 years experience in financial planning while addressing college planning & funding and related planning. |
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| Q. |
What are your fees for this service? |
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Advice may be charged at $250 hour or waived if client implements applicable recommendations. This advice is almost always delivered in conjunction with other financial planning advice. |
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| Q. |
How many Education Planning clients do you currently manage? |
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Educational planning is but a component of overall planning for virtually all of our clients with children and grandchildren. |
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| Q. |
Why should I work with you on setting up an Education Plan? |
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By virtue of my professional and eduactional credentials together with my extensive experience, I would suggest that there aren't many advisors more qualified than me. |
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| Q. |
Do you provide a free initial consultation? |
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Free consulations focus around topics and issues to determine if there is a good fit to enable prospective client and me to work together. |
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| Q. |
What are your qualifications? |
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I have 31 years of experience in wealth management/financial planning. I also have 2 1/2 years in public accounting with tax experience and 13 years as VP - Financial Regulation @ The CME Group. This overall experience would place me among the elite advisors in the United States. |
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| Q. |
What is your approach to 401 K plan rollovers? |
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Examine related tax issues when applicable (i.e. company owned stock), comparison to alternative option, e.g., lump sum vs. annuity payout, and investment opportunities in Traditional IRA or Roth IRAs. |
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How long does the process of rolling over a 401K plan usually take? |
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Anywhere from a few days up to a few months if plan only allows rollovers after calendar quarter ends. |
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What financial institutions do you represent? |
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My broker dealer in LPL Financial, the largest independent broker dealer in the U.S and fifth largest broker dealer in the U.S. I also represent nearly all mutual fund companies and several insurance complanies. The vast majority of 401k Plan rollovers are into advisory accounts wherein investment options are nearly endless. |
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| Q. |
How many years of experience do you have? |
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I have 31 years of experience in wealth management/financial planning. I also have 2 1/2 years in public accounting with tax experience and 13 years as VP - Financial Regulation @ The CME Group. This overall experience would place me among the elite advisors in the United States. |
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What are your fees for this service? |
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Generally advice pertaining to 401k Plan rollovers is free of charge as compensation is covered by investment management advisory fees related to asset management of the rollover. |
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| Q. |
How many 401K rollover clients do you currently manage? |
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Nearly all clients have Traditional IRAs & Roth IRAs the majority of which eminated from corporate retirement plans such as 401k Plans. |
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| Q. |
Why should I roll over my 401K plan to your firm? |
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By virtue of my professional and educational credentials together with my extensive experience, I would suggest that there aren't many advisors more qualified than me. |
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| Q. |
Do you provide a free initial consultation? |
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Free consultations focus around topics and issues to determine if there is a good fit to enable prospective client and me to work together. |
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