What is the minimum engagement amount?
We don’t require an annual minimum fee, but we have a preferred minimum asset level of at least $1 million because we’ve discovered that’s where we can provide maximum value for our clients. This can include assets in multiple accounts and/or assets of multiple family members.
How is Republic Wealth Advisors compensated?
Republic Wealth Advisors is a fee-only advisor. Clients pay an annual percentage of assets, which is billed quarterly. A copy of our current fee schedule is available on request.
Who manages my assets?
Investment decisions are made by Republic Wealth Advisors with allocations to proprietary and pooled investment strategies.
Where are my assets held?
We have custodial relationships with Fidelity Institutional Wealth Services, TD Ameritrade Institutional, and Charles Schwab Institutional.
Are my assets pooled with other client’s assets?
No, all clients maintain their assets in individual accounts. Each account appears in the client’s name.
How are my assets protected?
Assets at all three of our primary custodians offer asset protection insurance from the Securities Investor Protection Corporation (SIPC) which protects securities customers of its members up to $500,000, including cash claims limited to $250,000.
All three custodians also offer protection in addition to the SIPC coverage.
In addition to SIPC protection, Fidelity provides its brokerage customers with additional “excess of SIPC” coverage. The excess coverage would only be used when SIPC coverage is exhausted. Total aggregate excess of SIPC coverage available through Fidelity’s excess of SIPC policy is $1 billion. Within Fidelity’s excess of SIPC coverage, there is no per customer dollar limit on coverage of securities, but there is a per customer limit of $1.9 million on coverage of cash awaiting investment. This is the maximum excess of SIPC protection currently available in the brokerage industry.
Charles Schwab & Co., Inc. provides additional brokerage insurance with Lloyd’s of London and other London insurers. Combined with SIPC coverage, Schwab provides protection of securities and cash up to an aggregate of $600 million, and is limited to a combined return to any customer from a Trustee, SIPC, and London insurers of $150 million, including cash of up to $1,150,000. This additional protection becomes available in the event that SIPC limits are exhausted.
TD Ameritrade provides each client $149.5 million worth of protection for securities and $2 million of protection for cash through supplemental coverage provided by London insurers in excess of SIPC protection. In the event of a brokerage insolvency, a client may receive amounts due from the trustee in bankruptcy and then SIPC. Supplemental coverage is paid out after the trustee and SIPC payouts and under such coverage each client is limited to a combined return of $152 million from a trustee, SIPC and London insurers. The TD Ameritrade supplemental coverage has an aggregate limit of $500 million over all customers.
For other custodians, the protection available varies in each case. Please contact Republic Wealth Advisors for questions specific to other custodians.
Please note: SIPC and additional insurance coverage does not protect against a decline in the market value of securities. Therefore, it is wise to discuss your tolerance for risk with your investment advisor and invest responsibly.
Can you provide references?
Yes, we are happy to provide references. Because we respect the privacy and confidentiality of our clients, we prefer to provide references in the later stages of the introductory phase if requested.