Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Wealth management: any experience with Sequoia or Cerity?
Old 05-08-2021, 10:12 AM   #1
Thinks s/he gets paid by the post
The Cosmic Avenger's Avatar
 
Join Date: May 2016
Location: Mid-Atlantic
Posts: 2,654
Wealth management: any experience with Sequoia or Cerity?

Anyone ever use Sequoia Financial Group or Cerity Partners for wealth management? I've been referred to them for (fee or hourly based, of course) advice about my portfolio, and I'm going to talk to them both to see if I want to do so, but I was wondering if anyone has used either of them or has heard anything first-hand about them.
__________________
-Looking to FIRE in the mid-2020s, which would be our mid-50s.
The Cosmic Avenger is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-10-2021, 03:44 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Jun 2017
Location: Western NC
Posts: 4,607
Sequoia Financial Group seems to be a debt collector...did you mean Sequoia Wealth Management?

High AUM fees:

https://smartasset.com/financial-adv...agement-review

Cerity Partners review:

https://www.magnifymoney.com/blog/in...rs-review-ria/

"Cerity Partner’s standard fee for its wealth management services is typically 1.25% of assets under management, with a minimum annual fee of $25,000."

Sure you don't want to try something like Plan Vision first instead?

https://planvisionmn.com

($189 first year, then renews at $96/year)
ncbill is offline   Reply With Quote
Old 05-10-2021, 03:53 PM   #3
Thinks s/he gets paid by the post
The Cosmic Avenger's Avatar
 
Join Date: May 2016
Location: Mid-Atlantic
Posts: 2,654
They are both supposed to have fee-based options, and this is the Sequoia Financial Group that I am considering. Thanks for the link to the review about Cerity, that matches what I've heard so far. But I'm not looking for an AUM arrangement, as I said, just considering a fee-based consultation, basically a check-up and possible refinement of where we are and what we're doing.
__________________
-Looking to FIRE in the mid-2020s, which would be our mid-50s.
The Cosmic Avenger is offline   Reply With Quote
Old 05-10-2021, 04:29 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,793
Just me, but since I've had to pay for the mistakes of those who "helped" me (for a fee) I've decided I can screw up without anyone else's help, thank you very much. I heartily endorse (at least the idea of) fee-for-service HOURLY CFP or similar. Other than that - my suggestion would be to "roll your own." Keep in mind, I've made all the mistakes in the book - except saving like a fiend. YMMV
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Old 05-10-2021, 04:46 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 10,331
Quote:
Originally Posted by The Cosmic Avenger View Post
... fee-based options ...
Just a caution, in the FA business "fee based" means that the advisor doesn't get paid on commission. An FA charging fees bases on AUM is considered to be "fee based."

When the client is paying fees directly I think that is automatically a fiduciary relationship, but certainly ask.

Also I suggest https://brokercheck.finra.org/ for anyone you talk to, ideally before the meeting.
__________________
Ignoramus et ignorabimus
OldShooter is offline   Reply With Quote
Old 05-10-2021, 04:56 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 10,331
Quote:
Originally Posted by The Cosmic Avenger View Post
Anyone ever use Sequoia Financial Group or Cerity Partners for wealth management? I've been referred to them for (fee or hourly based, of course) advice about my portfolio, and I'm going to talk to them both to see if I want to do so, but I was wondering if anyone has used either of them or has heard anything first-hand about them.
I just skimmed the Cerity review and see that they invest in private equity and hedge funds. Do you have a personal IPS with a prohibited investment list? DW and my prohibited list includes both of those due to illiquidity and opaqueness. YMMV, of course.

IMO it would be good to go into both meetings with your IPS and prohibited asset list.
__________________
Ignoramus et ignorabimus
OldShooter is offline   Reply With Quote
Old 05-10-2021, 06:17 PM   #7
Thinks s/he gets paid by the post
The Cosmic Avenger's Avatar
 
Join Date: May 2016
Location: Mid-Atlantic
Posts: 2,654
I made it clear I'm not planning on letting them control anything, they can make recommendations, and I'm mostly interested in withdrawal and tax strategies rather than investment planning. But thanks, those give me clearer ideas of how to state what I'm looking for.
__________________
-Looking to FIRE in the mid-2020s, which would be our mid-50s.
The Cosmic Avenger is offline   Reply With Quote
Old 05-10-2021, 06:57 PM   #8
Thinks s/he gets paid by the post
Ready's Avatar
 
Join Date: Mar 2013
Location: Southern California
Posts: 3,995
I think your experience with them will depend on the skills of the individual they assign to your account. You can read a lot of reviews about the company overall but since you are likely to be primarily working with one person I would try to get some reviews from other clients who have used the specific individual they assign to you. What you are looking for is very specific and we really have no idea if they have the expertise you need.

But my general observation is that tax strategies might be better to discuss with a CPA than a wealth advisor.
Ready is offline   Reply With Quote
Old 05-11-2021, 04:16 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,793
Quote:
Originally Posted by OldShooter View Post
Just a caution, in the FA business "fee based" means that the advisor doesn't get paid on commission. An FA charging fees bases on AUM is considered to be "fee based."

When the client is paying fees directly I think that is automatically a fiduciary relationship, but certainly ask.

Also I suggest https://brokercheck.finra.org/ for anyone you talk to, ideally before the meeting.
Good point. I would only consider an hourly CFP at this point in my life but YMMV.
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is the best time of year to visit Sequoia National Forest? LRDave Travel Information 8 03-02-2020 09:26 AM
Retirement wealth management : Annuities & Mutual Funds walkinwood FIRE and Money 2 08-11-2009 09:40 AM
Joshua Tree, Death Valley, Las Vegas, Sequoia TromboneAl Other topics 38 04-25-2009 08:36 AM
Sequoia and Kings Canyon National Park boutros Travel Information 3 06-13-2008 05:00 PM
Sequoia Fund : First Opportunity in 25 years gryffindor FIRE and Money 8 04-27-2008 04:53 PM

» Quick Links

 
All times are GMT -6. The time now is 02:26 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.