Frequently Asked Questions
Who are your clients?
How will you communicate with me regarding my investments?
What is the difference between a Registered Investment Advisor (Maxim) and a traditional stockbroker?
How and when is Maxim compensated?
Where will my assets be held?
Will I have online access to my accounts?
What type of reports will I receive and how often?
Will I have to liquidate my current investments to work with you?
Will you advise me how to invest my Company's retirement plan or 401(k)?
How do you interact with my other trusted advisors?
How do we begin working together?
Who are your clients?
Our clients are very culturally diverse and have a broad range of
ages, professional backgrounds and investment goals. The majority of
our clients are individual families or trusts, but we also work with
company retirement plans and foundations. Our clients are primarily U.S. citizens, American expatriates, dual-nationals and permanent U.S. residents living all over the world, with a concentration in the United States and Western Europe. We also work for a number of non-U.S.
citizens who choose to hold their investment assets in U.S.-based
institutions due to the many benefits of the U.S. capital markets. In
most cases, we require new clients to have a minimum level of investable
assets available for management—we encourage you to contact us to
discuss your specific investment needs and situation.
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How will you communicate with me regarding my investments?
Every client of Maxim is supported by a wealth advisory team and is assigned a dedicated Client Advisor. We maintain an "open door" policy
with clients and are available by phone, e-mail and in person at your
convenience. Clear and candid communication is central to our wealth
management approach. We strive to conduct face-to-face client meetings
at least once a quarter throughout the first year of your Maxim
relationship. Beyond this time period, we allow our clients to dictate
meeting frequency, but generally prefer to meet at least once annually
to review your situation in person.
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What is the difference between a Registered Investment Advisor (Maxim) and a traditional stockbroker?
In the United States, Registered Investment Advisors (RIAs) like
Maxim are governed by the Securities and Exchange Commission (SEC) and
are held to a higher standard known as a client fiduciary. We are
required by law to place the interests of our clients first. We are
allowed to charge an advisory fee, but cannot accept any hidden
commissions or revenue sharing payments from third parties. Traditional
stockbrokers are governed in the United States by the Financial
Industry Regulatory Authority (FINRA), formally known as the NASD, and
are not required to act in their investor's best interest or to
disclose all sources of compensation. They generally are paid through
upfront and deferred sales commissions, cash incentives linked to the
sale of specific products, and ongoing revenue sharing payments from
the investments their clients hold. The major banks and brokerages are
increasingly promoting fee-based pricing models in combination with the
other methods, which are often confused with the "fee-only" model of an
independent RIA.
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How and when is Maxim compensated?
Maxim is a fee-only investment advisor. This means that our only
compensation comes from our asset-based fee, which is calculated as a
percentage of your total assets under management. The fee is calculated
quarterly and is deducted directly from the client account(s) at the
beginning of each calendar quarter. Please contact us for additional
details regarding our management fee schedules.
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Where will my assets be held?
Maxim maintains relationships with two leading account custodians:
Charles Schwab and Fidelity Investments. Client assets are never
transferred into our possession. We will help to consolidate your
assets at one custodian, including taxable accounts, trusts, IRAs, Roth
IRAs and any inactive 401(k) plans. From there, we obtain a limited
power of attorney to act on your behalf inside of your investment
accounts.
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Will I have online access to my accounts?
Yes, clients maintain full access to their investments through their
independent custodian's Web site. Clients can log in to view current
balances and transaction history, as well as a record of previous
statements.
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What type of reports will I receive and how often?
You will receive monthly statements, trade confirmations and year-end tax reports, as well as complete online access to your investment accounts and past statements directly from your independent custodian. Additionally, you will receive a detailed quarterly
reporting package from Maxim which includes account statements,
performance reports and a fee invoice. We will also provide you with a
supplemental year-end tax report summarizing all taxable gains and
losses.
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Will I have to liquidate my current investments to work with you?
Generally, Maxim will make significant changes to your holdings
during our investment implementation. However, we never sell anything
without first analyzing the fees and tax implications. In most cases, our investment programs can be customized to allow for low-basis stock positions, concentrated holdings, as well as a client's desire to hold certain investments or avoid others. In all cases, we will
customize our solution to your specific needs and will work to maximize
your investment returns by minimizing unnecessary taxes and fees.
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Will you advise me how to invest my Company's retirement plan or 401(k)?
Yes, Maxim will provide you with guidance on how to allocate your
retirement plan in keeping with your stated investment objectives. This
investment advice is included in our comprehensive wealth management
service—you will not be charged additional fees for retirement advising.
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How do you interact with my other trusted advisors?
One of the benefits of our position as your fiduciary is that we are
free to work closely with any of your trusted professional consultants,
including your tax professional, attorney or other advisor. We realize
that each of these professionals may charge you a fee for their time;
therefore, we only consult these sources at your request. We can also refer you to competent and well-qualified professionals should you need one.
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How do we begin working together?
We have built our reputation on personal relationships based upon
candid advice and trust. If you are interested in exploring a
relationship with Maxim Global Wealth Advisors, we invite you to
schedule a brief phone call so we may understand your overall
objectives and needs, as well as plan an initial meeting.
During this initial meeting, which normally lasts 1 ½–2 hours, we will
explore your needs and expectations in much more detail, introduce you
to our investment approach and discuss how it may be applied to your
unique situation. We will also answer any further questions you may
have about how we work.
If at this point you decide that our wealth management services align
with your requirements, a Client Advisor will meet with you to
develop a specific investment plan. We will detail how we will build
your customized investment program and incorporate any necessary
financial planning and tax strategies. This process is very flexible
and can encompass a broad array of elements, depending on your
circumstances.
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