WHO HOLDS & PRESERVES MY INVESTMENTS IF YOU ARE MY ADVISOR?
Sorum Financial does not custody assets. At no point in time do we have control or access to client funds and accounts. Your money is always kept at third party custodians, whether it be at a clearing firm, such as LPL Financial, or a product company. The broker-dealer we are associated with maintains strict compliance controls and supervision over our activities, and your accounts are covered against fraud by the SIPC. Of course this does not guarantee against normal losses that would be due to decline in the value of your financial investments. If you want more details about the custody and safety of your assets, please do not hesitate to ask. You may also visit www.sipc.org.
WHAT DOES IT COST TO TRANSFER MY ACCOUNTS TO YOU?
Usually if you have a direct account with a product sponsor, it does not cost anything to transfer your account, and we can handle the transfer for you. Your investment account remains exactly the same, except you’ll see a different name on the statement as the new servicing advisor.
Most of the time a transfer from a brokerage account can be accomplished simply by signing a transfer request that we provide. Usually the outgoing firm will charge a closure and/or transfer fee which often will range from $25 to $150.
If you have an old retirement account at a previous employer that you wish to transfer, you may be required to contact the employer and order distribution paperwork from them or give instructions over the phone. If that is the case, we can help you complete the transfer paperwork, which is quite simple. This transfer usually doesn’t cost anything to do.
Regardless of what situation applies to you, the transfer process is usually quite simple and painless, can many times be initiated on my end, and may cost nothing to do, or at least very little. Please let me know if you have questions about how this applies to you specifically.
DURING AN INITIAL APPOINTMENT... AND BEYOND?
I believe that the core principles by which I operate Sorum Financial have led to many fantastic client relationships, but I will be the first to tell you that we are not the right fit for everyone. I invite you to schedule a complimentary visit to see for yourself if we might be a good fit for you. An initial appointment will usually take about an hour or so, is completely without cost and without obligation. You can ask whatever questions you want and we can discuss whatever you want to discuss. Bottom line, it is a no hassle way to explore the possibilities of working together.
The two things you will never get from us - whether during our initial appointment or anytime thereafter - are formalities and pressure! You’ll rarely see us in a tie and more often will find us in blue jeans. We're down-to-earth and simply try to treat you the way we'd want to be treated if we were in your shoes. No pretentiousness, no preconceived notions…just always coming at things with an open mind, ready to help the best we can. We’ll give you easy-to-understand reasons behind recommendations and the pros and cons, and let you decide where to go from there. You’ll never feel a bit of pressure from us to do anything.