Education / FAQ’s
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Frequently Asked Questions
How do your fees compare with the fees charged by other firms?
Our fees are very attractive when compared to most brokerage firms and banks. We keep our internal costs low and pass on these efficiencies to our clients.
What is a typical ongoing management fee?
This fee is generally between 1.00% and 1.75% per year of the assets we manage.
How long has the company been in business?
The company was founded in 2010 by Stephen Salley who has over 11 years of experience in the financial services industry.
What kinds of clients does the firm focus on serving?
Salley Wealth Management is a specialized firm that serves a select group of clients. While nearly everyone could benefit from good financial advice, we have chosen to focus on a narrow market. Our clients have different passions and come from all backgrounds, but they all have the following characteristics in common: – They look forward to having a long-term relationship with a firm they trust – They like the fact that we look at their total financial picture and not just a single account – They are open to advice – They are willing to take action and implement the financial advice we provide them – They understand and appreciate the need for financial planning and investment advice – They are friendly and easy to serve – While we have no account minimums, we are best suited to help clients with total household investable assets of $250,000 and above.
How does Salley Wealth Management typically get new clients?
Unlike the huge brokerage firms, we do not have an advertising budget. Our clients come to us exclusively from existing clients and other professionals—CPAs and attorneys, for example—who have experienced our service and refer people to us.
Can I review a copy of your Form ADV and other disclosures?
Absolutely. Send us a request, and we will provide you with a copy of our Form ADV. In addition, you may view Stephen Salley’s Broker Check Report at www.finra.org.
How often will we meet face to face?
Typically, we see our clients between two and four times per year—and more often if necessary. Some clients prefer to hold these meetings over the phone as well. It’s important for us to know what is happening in your life so we can determine if there are any financial implications and/or strategies we can recommend. For example, it’s always helpful if we know about any large one-time expenses in advance, any changes to your employment, issues at work, or hundreds of other issues that can come up in a conversation. We take advantage of the quarterly meeting to go over a client’s portfolio’s performance over the last three months. It is a great time to discuss what’s happening in the economy and in financial markets, what we predict for the future and any specific allocation changes we recommend for a client’s portfolios.
What kind of investments do you use?
A portfolio may typically utilize mutual funds and exchange-traded funds. At times, we may also utilize individual fixed income positions and alternative investments as well as insurance-based solutions such as life insurance and annuities depending on your financial plan. We are not stock pickers and are not in the businesses of trading positions for short-term profits.
Do you develop financial plans?
Yes. We believe that comprehensive wealth management begins and continues with a financial plan. Each plan is unique to each client and may address a variety of areas. Planning services are charged at an hourly basis.
What kind of research do you perform on your clients’ investments?
Because we are an independent firm, we have access to almost an unlimited amount of research. In other words, we are not tied to just the research our firm produces since we don’t produce any proprietary research of our own. This gives us great flexibility. It also takes a tremendous amount of work. Life would be much easier if we generated our own research and went with it, but it wouldn’t necessarily be better for our clients. We like to look at all of the factors, read research arguing both sides of the topic, and make our own decisions. Our research includes a tremendous amount of reading and digging. We use software and technology to help us gather and analyze the data.