Frequently Asked Questions
Please click the questions below to discover the answers.
What distinguishes Turner Financial Group, Inc. from larger, institutional investment advisory firms?
At Turner Financial Group, Inc. we are focused on helping our clients manage their financial lives. Unlike large institutions, we have no dedicated sales force and rely instead on qualified referrals from satisfied clients and professionals. Our family-owned environment is more suitable for getting to know each client personally. We believe this enhances our ability to tailor our services to the specific needs and objectives of each individual client. In contrast, large institutions’ primary contact with clients is generally delegated to sales staff whose job is making sales, not building relationships.
What is your fee and how is it based?
Our investment management fee ranges from 0.75%-1.75% annually as a percentage of assets under management. As a fee-only investment advisor, we do not subscribe to "wrap fee" programs and receive no commission compensation.
For clients who only want financial planning services, we will tailor a financial planning program for a fixed, modular or hourly fee.
For a complete discussion of our fees, see the Turner Financial Group, Inc. ADV Part II and Schedule F.
Who are typical Turner Financial Group, Inc. clients?
Typical clients include doctors, lawyers, corporate executives, small business owners, pre-retirees, retirees, widows and divorcees. We work with most types of accounts including personal, joint, trust, IRA, and profit sharing. We work with our clients on an ongoing basis.
What is a registered investment advisor?
A registered investment advisor (RIA) is a firm that is registered with either an individual state or with the Securities and Exchange Commission (SEC) to provide investment advisory services. A registered investment advisor is required to act in a fiduciary capacity on behalf of clients. This means we are held to a higher standard of disclosure than would be found in a traditional securities brokerage environment.
In addition, most RIAs are compensated on a fee basis (usually as a percentage of assets under management) rather than a commission basis as are brokers. Thus our incentive as adviser is aligned with yours as client. So we want to see increases in your account balance and we want to avoid declines.
Brokerages that do not register their representatives as RIAs are required to have disclosure statements on all of their new account forms, explaining that their interests are not necessarily the same as their clients' and that they may also be compensated by the owners of the investment products they are offering for sale.
As a RIA we are fee only and act as fiduciaries to our clients. We have no proprietary products to sell or commissions to collect. We act in the best interest of our clients.
For a more thorough discussion of the differences between registered representatives (brokers) and registered investment advisors, click here.
How does Turner Financial Group, Inc. operate?
Turner Financial Group, Inc. operates as an independent, discretionary, fee-based investment advisory firm providing comprehensive financial planning and portfolio management to individuals and institutions. We never take custody of any funds (we are not a broker/dealer) and we derive no revenue from commissions or product sales. Accounts are held at a separate independent brokerage firm in the names of our clients and account assets are never commingled with accounts owned by others.
What is the next step?