What type of a personal finance consultancy is Anglia Advisors?
Why is it important to only work with a financial advisor who operates under the Fiduciary Standard?
If your advisor cannot confirm that they are bound by the Fiduciary Standard at all times and/or cannot on the spot produce a Form ADV Part 2 to confirm this, then they are almost certainly covered by the much weaker Suitability Standard instead and is essentially a commission-based product salesman with a higher responsibility to his employer and himself than to you. See here for more about why you are putting yourself at risk by working with a non-fiduciary advisor.
Is Anglia Advisors a fiduciary for the purposes of all types of engagements?
Yes. With Anglia Advisors as a Registered Investment Advisor and Simon as a CERTIFIED FINANCIAL PLANNER™ professional and your personal finance consultant, we have chosen to place ourselves under the Fiduciary Standard in all our dealings with clients. You can see this commitment in writing here.
Can Anglia Advisors give me tax or legal advice?
No. While a CERTIFIED FINANCIAL PLANNER™ professional may describe the tax or legal landscape in the context of certain financial planning subjects such as investments, retirement or estate planning, even for domestic US national clients we are specifically disqualified from giving direct tax advice in the way that a Certified Public Accountant or Enrolled Agent can, nor are we qualified to offer direct legal opinions, strategy or advice in the way that a qualified attorney can. We do, however, have an extensive network of professionals who are tax and legal specialists that we can refer to give such advice when needed.
Does Anglia Advisors get paid any compensation from third parties to sell, recommend or promote any types of investments, insurances or any other products to me?
No. Never. Our only compensation for an engagement comes from the client in the form of fees. We do not pay or receive any payments to or from any investment company, fund provider, insurance company or any other third party to push certain products over others onto our clients in return for financial gain. It is precisely this that separates us from the vast majority of financial advisors. Our only criteria for recommendations is that we believe them to be in the best interests of the client. All introductions and referrals to such allied professionals are free of charge to Anglia Advisors clients, although clients may be responsible for any professional fees that might be charged by these professionals if they choose to use their services. No referral fees are ever paid to/from Anglia Advisors from/to members of our professional network in respect of any client introductions.
Who regulates Simon and Anglia Advisors?
As a New York Registered Investment Advisor (RIA), Anglia Advisors is overseen, regulated and liable to audit by the State of New York, which takes much of its RIA regulation from that of the Securities and Exchange Commission (SEC), which takes over RIA regulation from the state once over $100m in assets is under management by the firm. As a fully-qualified CERTIFIED FINANCIAL PLANNER™ professional, I am also bound by the CFP Board’s Code of Ethics and Standards of Conduct.
Not at all. I am authorized to work with clients anywhere in the United States, although Anglia Advisors may be required to register in states other than New York if a particular number of clients from that state is exceeded. We have a very robust video-call and screen-share system and will work beyond regular East Coast business hours if necessary.
Do I need to live in the New York area to become a client of Anglia Advisors?
No, no and one more time, no. No-one at Anglia Advisors has a license to sell any kind of insurance (life, disability, long term care, auto, homeowners etc) and very deliberately so. So we will not sell you any insurance since if we did so, it would create an inherent conflict of interest. If we see an insurance or annuity need with a client, we are able to bring in an independent outside insurance specialist who will work with our clients for no fee, is not tied to one carrier and will shop around all providers for the best deal for our client.
Will Anglia Advisors try to sell me any kind of insurance product?
Working With Us
Does Simon or Anglia Advisors ever take custody of my money?
Never. Our only compensation for an engagement comes from the client in the form of fees. All introductions and referrals to allied professionals are free of charge to Anglia Advisors clients, although clients may be responsible for any professional fees that may be charged by these professionals if they choose to use their services. No referral fees are ever paid to/from Anglia Advisors from/to members of our professional network in respect of client introductions.
Does Anglia Advisors pay or receive any referral fees to/from any of the outside professionals to whom I may be referred?
Anglia Advisors has contracted with MyRepChat for technology that encrypts and archives all text messages sent to our secure number. Unlike messages sent to and from a private, unsecured number that other advisors may use, this is compliant with recently updated regulations. Simply use the regular texting feature of your phone to text message with our specific number.
What if I want to communicate with my advisor by text message?
Simply email us at firstname.lastname@example.org and request one. Prospects will always be sent a copy before engaging with us and existing clients will receive updated versions at least once a year, as per regulation.
How can I get a copy of Anglia Advisors’ most recent Form ADV Part 2?
If you engage the services of a third party professional, you may be required to pay their professional fees (for example an estate attorney preparing a will for you or a tax preparer filing your taxes) which are often discounted to the client due to the client’s connection with Anglia Advisors. In managed portfolios just as in any other kind of portfolio, clients are responsible for annual expense ratios of the exchange traded funds (ETFs) or mutual funds utilized in the portfolio, but these will tend to be very low cost, highly liquid ETFs. For those with assets held under our management, there are no transaction fees of any kind or account maintenance fees.
Will I have to pay any fees beyond those shown on the service description page?
On our Disclosures page.
Where can I see Anglia Advisors’ Core Investment Policy Statement ?
See it in our Form ADV Part 2 or a version of it here.
No, we do not collect or store such data.
If I enter online account credentials to connect accounts or my SSN, is that data collected and stored by Anglia Advisors?
Yes, in a case where Simon is unable to contact you due to illness, incapacitation or death, you will be contacted by a legal professional who will advise you as to next steps. Contingency plans for these steps have already been put in place. In no case will your complete, unrestricted access to your invested money be affected.
Is there a succession plan is in place if something happens to Simon or to the firm?
When and how do I pay for an Hourly-Based Session?
You will be invoiced for the session once you have signed the client engagement agreement. This can be paid for by check made out to Anglia Inc. You can pay electronically via Zelle in advance of the session or else bring the check and present it to us at the beginning of the session.
As many as you like. Most clients will set up a series of sessions to address as many issues as possible and then again at times of “life events”
How many Hourly-Based Sessions can I book?
Absolutely. Indeed, many of our Hourly-Based Sessions result in portfolio management afterwards. For this reason, our Single Session client engagement agreements will include paperwork for portfolio management in case it is requested.
If I hire Anglia Advisors for an Hourly-Based Session, can I then afterwards get Portfolio Management as well?
Yes. If the subject matter of the Hourly-based Session merits or requires the assistance of an outside professional from within our network, we can make the referral.
Can I still be referred to outside professionals from the Anglia network from an Hourly-Based Session?
Foreign National Consultation
While a Foreign National Consultation is a form of two-hour session, it is very different in that it focuses exclusively on what a foreign national here on a visa or green card (particularly a recent or even imminent arrival) needs to understand about living and working in the US as a non-citizen. As such, it is educative about a highly specialized and sometimes complex set of topics and provides information that is extremely hard to find elsewhere. Most financial planners do not have any expertise in this area, indeed many shy away from it and some have even referred their non-citizen clients to us for a consultation.
What is the difference between a regular Hourly-Based Session and a Foreign National Consultation and why are the prices different?
It depends. If you are currently living outside the US, but are imminently coming over here to live as a foreign national on a visa or green card and require advice on what to expect from a financial and legal standpoint then, yes, a consultation by video-conference before you get on the plane would be invaluable. If, however, you are are US national or of any other citizenship resident outside of the US, then we are by regulation not permitted to accept an engagement during the time that you are domiciled outside of the country, unless it is exclusively to manage US-based assets or to advise upon imminent US residency. We are not permitted to advise into non-US jurisdictions.
To benefit from a Foreign National Consultation, do I need to be already living in the US? Can Anglia Advisors advise me if I live outside the US?
To us, absolutely not. We do not discriminate. However, you may find that the “category” of country you come from may come into play when checking into other services such as credit development, mortgages and other loans, life insurance etc. Broadly speaking, people from those countries with what US institutions would regard as stable, developed and transparent financial and legal systems will generally have an easier time of it than those from other countries. If you hold a G or A visa of any kind, things can get particularly complex from a tax perspective and, in those cases, we may refer you to a specialist firm.
Does it make any difference what kind of visa I hold?
No. While a CERTIFIED FINANCIAL PLANNER™ professional may describe the tax or legal landscape in the context of certain financial planning subjects such as investments, retirement or estate planning, even for domestic US national clients we are specifically disqualified from giving direct tax advice in the way that a Certified Public Accountant or Enrolled Agent can, nor are we qualified to offer direct legal opinions, strategy or advice in the way that a qualified attorney can. This is even more important to adhere to when it comes to the much more complex world of international tax and law.
Can Anglia Advisors provide me with direct international tax or legal advice?
Definitely. The Anglia Advisors Professional Network includes many foreign national-specific specialist professionals and would be more than happy to make the referral and put you in touch.
Can I still be referred to outside professionals from the Anglia network from a Foreign National Consultation?
We have no minimum asset level for our portfolio management under any of our plans.
What is the minimum amount that Anglia Advisors will professionally manage?
No. Our Core Investment Policy makes it clear that we do not act as stock-pickers or stock-brokers trading individual stocks or bonds, preferring instead to invest our clients in highly diversified, liquid, low cost exchange traded funds (ETFs) or sometimes index mutual funds.
Will Anglia Advisors act as my stockbroker, offering advice on picking/buying/selling of individual stocks?
Yes, indeed that is the whole point of the Portfolio Management Only service. Broader financial questions will only be asked in so far as it is important for us to know a degree of information to allocate your assets appropriately. This engagement does not touch on non-investment items such as estate planning or insurance nor will we address the asset allocation of investments held in accounts that Anglia Advisors is not managing.
Can Anglia Advisors professionally manage my money without the need for full financial planning?
Yes. Almost uniquely among financial advisors, Anglia Advisors has the technology to – with the client’s permission – analyze, allocate, manage, rebalance and monitor client investments in their current, in-service qualified retirement plan such as 401ks, 403bs, 457 Deferred Comp plans or federal Thrift Savings Plans. Management fees are the same as our low portfolio management fees that would be applied if the assets were on our platform. This service is available to all clients on any of our plans. Contact us for more details.
Can Anglia Advisors manage my current, in-service 401k or 403b plan?
Yes. Unlike most financial advisors, Anglia Advisors has the technology to – with the client’s permission – analyze, allocate, manage, rebalance and monitor client investments in their accounts “held away” at other brokerage firms without the client having to move the accounts. Management fees are the same as our low portfolio management fees that would be applied if the assets were on our platform. This service is available to all clients on any of our plans.
Can Anglia Advisors still manage my investments even if I keep them with my current brokerage firm and not move them onto Anglia’s platform?
Yes. Our platform can accommodate investment strategies that incorporate smart beta, value, socially responsible/ESG investing, momentum/value among others. Indeed, we encourage diversification of investment strategies just as we encourage diversification of company size, geography etc. We also offer “Quant-Folios” that are algorithmically-run portfolios that react to market changes in a totally rules-based environment. Call us to discuss if this is appropriate for you.
Are various different investment strategies available to be implemented on the Anglia Advisors platform?
Nope. I am not qualified to. I can refer you either to a professional tax preparer or a service that will review and comment on your Turbo-Tax or Tax Act style submission before you submit it.
Can Simon do my taxes for me?
No, I deliberately do not hold a license permitting me to sell you insurance and with good reason. If I was able to sell you insurance, it would create a conflict of interest because I could simply tell you that you needed it just so that I could sell you the solution and get the commission (which is how the vast majority of conflicted insurance company salesmen out there operate, simply selling life insurance on commission, but who nevertheless still misleadingly call themselves “financial advisors”).
Can Simon sell me insurance?
I cannot. While I can talk extensively about estate planning in general, the reasons you may need estate documents, what is the consequence of not having them etc., when it comes to actually drafting the documents, it needs to be done by a qualified trusts and estates attorney, not a financial planner. I have relationships with a number of estate planning attorneys at different price points, with particular specialties etc. and can always make a referral if need be.
Can Simon draft my will?