Take Off With Us!
We are pleased to announce that we have launched Opal Wealth Advisors. We’ve gone independent so that we can offer you a collection of superior new services, tools, and resources.
As we begin this exciting next chapter in the history of our business, we want you with us. Our goal is to make your transition to our new firm as smooth and simple as possible. Below, you will find detailed information to answer your questions and help you through the paperwork process.
We understand that this is a significant change, and we are here to assist you every step of the way. At any time, if you have additional questions or need help, please contact us at firstname.lastname@example.org or 516.388.7980.
Why We Formed Opal Wealth Advisors
After much soul-searching, we made the decision to become an independent advisory firm. Our new business model was specifically chosen with your needs in mind, and we designed it to provide you with strategic advantages for achieving success.
A key element of our new model is the separation of financial advice from products, research and account custody. This eliminates the potential for conflicts of interest. Going forward, we will continue to serve your planning and advisory needs, while all other aspects of service provision will be selected for their verifiable benefits to you.
Our New Service Model
As a registered investment advisor (RIA), Opal Wealth Advisors will provide our clients with total access to a full range of financial services.
|Description||TOTAL ACCESS Opal Model||vs.||LIMITED ACCESS Wirehouse Model|
|Advisory and planning solutions||Provided by Opal Wealth Advisors||Provided by wirehouse employees|
|Financial products||Supplied by independent providers selected by Opal across the full range of opportunities||May be proprietary to wirehouse|
|Financial services and reporting||Supplied by independent providers selected by Opal across the full range of opportunities||Proprietary to wirehouse|
|Technology platform, research, and analysis||Supplied by independent providers based on proven effectiveness and leading-edge capabilities||Proprietary to wirehouse|
|Custodial maintenance of client accounts||Accounts maintained by Opal’s carefully selected qualified custodian||Accounts maintained by wirehouse|
What’s In It for You
We know this move will require some adjustments on your part—and we wouldn’t be asking you to make them if we didn’t wholeheartedly believe that you’ll be better served. By unbundling the services we provide to you, your options and opportunities are greatly expanded. Among other benefits, we will be providing:
- Institutional-caliber financial solutions to suit your specific goals and objectives.
- Access to the highest quality financial planning and reporting tools, trading software, and research services.
- Advice that’s directly tied to our industry expertise, experience and passion.
- A fee structure that’s simple, transparent, and easy to understand.
What’s the Same
Your relationships with your team of advisors and support staff will remain exactly the same, as will our dedication to meeting your needs. By establishing an independent business, we are fulfilling our dream of providing you with our very own brand of individualized service. We remain committed to supporting you on your personal pathway to a life of freedom, joy and abundance—using advanced technologies and leading-edge solutions.
You will need to sign up with Opal Wealth Advisors and transfer your account(s) to our chosen custodian, Charles Schwab & Co., Inc. (“Schwab”). We’ll supply you with all the necessary paperwork, ready for signatures. The changeover will be prompt and efficient. You’ll be able to visit us at a convenient new office and you’ll experience enhancements in our services, across the board. That’s it.
Making Your Transition Easy
First of all, please know that we are here to assist you every step of the way. Our goal is to make your transition to our new firm as smooth and simple as possible, and we have an entire team ready to help with all of your needs. Below, you will find detailed information to answer your questions and explain the paperwork process.
At any time, if you have additional questions or need help, please contact us at email@example.com or 516.388.7980.
Simple Steps for Transitioning Your Accounts
You will need to complete a set of documents authorizing transfer of your accounts. We’ll supply you with all the necessary paperwork, ready for signatures. To make it as easy as possible for you, a courier will deliver your document packet and pick it up again when it is completed. We will be calling to arrange a convenient time for you to receive your paperwork.
- When your paperwork arrives, please sign/initial and date at every sticker. We’ve prepopulated the forms, but there may be some additional information you need to complete. If so, it’s been highlighted.
- Along with the completed, signed and dated forms, please include the following additional documents in your packet, if possible:
- A copy of your most recent account statement(s). Required to initiate the transfer of assets.
- A copy of a preprinted, voided check for all accounts. Required to establish ACH instructions.
- A copy of your trust, for any trust account(s) you are opening.
- A copy of the “summary of accounts” section of your most recent statement.
- When your documents are signed, simply call us for pickup or return the paperwork in the enclosed, prepaid UPS envelope.
- We’ll submit your documents to Schwab, the account(s) will be established, and the transfers initiated. Transfers should be completed in 5-7 business days.
- You will receive confirmation when your account(s) are open for use. At that point, you will be able to set up online access to your account(s).
PAPERWORK CONTAINED IN YOUR PACKET
- Discretionary Wealth Management Agreement
- Letter of Authorization to provide Opal Wealth Advisors with a copy of your account statement.
- Schwab account application(s) to establish your new account(s).
- Transfer Form to transfer your assets, as well as supplemental forms based on the account type.
- Disclosures and information about Schwab.
Why We Are Working with Charles Schwab & Co., Inc.
Independent advisors must select a custodian to hold and safeguard client assets. This provides a system of checks and balances because your money is not held by the same entity that advises you on how to invest it.
After a thorough review of possible custodians, we chose Schwab for their strength, services and stability. In addition, their reputation as an industry leader and innovator convinced us they were the best choice. We truly believe they are great partners, and that you will feel the same confidence in them as you transition.
Schwab also provides you with these additional advantages:
- No account service fees (including no IRA service fees).
- Online account access to real-time positions, transactions, quotes and market news.
- Institutional equity and bond trading coverage.
- Block trading capabilities and direct access to Schwab’s equity trading desk.
- Electronic trading at discounted commission rates.
Going Forward, Together
The relationships we’ve built with you, our valued clients, mean everything to us. Continuing to earn the privilege of serving you is a responsibility we take to heart. We developed our new business model to provide you with the fullest possible support on your chosen pathway to success. We hope you will accept our personal invitation to join us at Opal Wealth Advisors.