Opal Wealth Advisors Invites You to Join Us in a Future of Expanded Opportunity

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 info@opalwealthadvisors.com 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.

What’s Changing

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 info@opalwealthadvisors.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.

  1. 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.
  2. 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.
  3. When your documents are signed, simply call us for pickup or return the paperwork in the enclosed, prepaid UPS envelope.
  4. 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.
  5. 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.

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Frequently Asked Questions

Questions About the Transition

Why do I need to complete the transition paperwork?

 

Since we’re changing custodians, we need to transfer your assets “in kind”—meaning without liquidating them—and establish your same types of accounts at Schwab. The provided paperwork facilitates that process for you.

What happens if I wait to complete the paperwork?

 

We hope that’s not the case, but if you choose to wait, your accounts will remain behind with a new broker who has no connection with you or your financial plan and goals.

Is there a fee to transfer to Schwab?

 

If any transfer fees are charged, Schwab will credit them back to you in your new account.

Why are you asking for my SSN again? Don’t you have that already?

 

To protect your privacy, and consistent with our contractual commitments to our prior employer, we retained only public client information, which did not include your social security number. Please be assured that your personal information will only be provided to Schwab, and it will be kept secure.

Questions About Account Activities

How will I access my account(s)?

 

As soon as your accounts have been moved to our new firm, we will call to provide you with login credentials to our innovative new client portal.

What happens with my distribution/monthly check, etc.?

 

Any distributions/ACH/money movements will be set up exactly as they currently are.

Will I lose access to banking and lending services?

 

No. In fact, we’ll have a significant banking and lending platform through Schwab Bank, one that we believe will be even more competitive than our past offerings.

What if I need a check?  What do I need to do?  How long will it take?

 

You have a several options:

  • Call us, and we’ll arrange for a check to be mailed in 5-7 business days.
  • If your need is more urgent, we can request overnight delivery.
  • We can also arrange to have you pick up your check at a Schwab branch.
  • Schwab offers ACH and ability to wire funds as well.

How do I make my deposits?

 

You’ll have several options including e-deposits and banking by mail, just as you already enjoy.

Can you set me up to receive paperless statements?

 

There are specific safeguards in place for your personal login information. This added layer of security requires that you be the one to complete the enrollment process. You can log into your account online and set up paperless statements in a matter of minutes.  For instructions, visit Schwab Client Learning Center. Or, we can send you an email that will help you get started, and then you just follow the simple instructions for completing enrollment.

Questions About Other Concerns You May Have

Why didn’t you tell us about this change earlier?

 

While we would have loved to share our news with you sooner, we were governed by strict employment agreements that forbid advance notification to clients.

Can someone help me if you are not in the office?

 

Schwab Alliance is a platform dedicated to providing client service outside of advisors’ normal business hours, or if your advisor is unavailable. The platform consists of a service team, a website, and a mobile application—all dedicated to serving you at no cost. The service team can be reached at 800-515-2157, the website is and the app can be downloaded on your smartphone. Some of the convenient benefits of this platform include:

  • Electronic approvals: Approve forms and wires online, without having to print, sign, and fax paperwork.
  • Mobile access: Pull up key information and access financial tools on the go (including mobile check deposit) via Schwab mobile application.
  • Online account access: Obtain direct online access to account balances, positions, etc.
  • Self-service: Go to for routine self-service tasks, or call the Alliance service team for personalized assistance.
  • Electronic documents: Enroll for paperless delivery of important documents, including statements, confirmations, and regulatory materials.

Questions About Safety, Security and Privacy

How will Opal Wealth Advisors protect my personal information and other data?

 

Concern for your privacy and security is of paramount importance to us. Below are the protective measures we have in place.

What measures does Schwab take to protect my investments?

 

We want you to have the highest level of confidence as you transition to Opal Wealth Advisors, and safety is one reason we choose Schwab. Here is how they provide for your security.

  • An on-going commitment to protect client privacy and safeguard information.
  • Continuous monitoring of systems to keep client personal and financial information safe online.
  • Advanced encryption technology, automated alerts, pattern analysis and sophisticated analytical systems to help secure communications and detect suspicious activity.
  • Schwab works collaboratively with government agencies, law enforcement and other financial services firms to address potential threats.

Live a Life of Financial Freedom, Joy and Abundance

We look forward to serving you for generations to come!

Your Wealthcare Advocates 

2 Jericho Plaza / Suite 208 / Jericho, NY 11753 / t. 516.388.7980 / f. 516.388.7968

RSVP Now

 

IMPORTANT NOTICE

You are now leaving the “Opal Wealth Advisors” website and will be entering the Charles Schwab & Co., Inc. (“Schwab”) website.

Schwab is a registered broker-dealer, and is not affiliated with “Opal Wealth Advisors” or any advisor(s) whose name(s) appear(s) on this website. “Opal Wealth Advisors” is independently owned and operated. Regardless of any referral or recommendation, Schwab does not endorse or recommend the investment strategy of any advisor. Schwab has agreements with “Opal Wealth Advisors” under which Schwab provides “Opal Wealth Advisors” with services related to your account. Schwab does not review the “Opal Wealth Advisors” website, and makes no representation regarding information contained in the “Opal Wealth Advisors” website, which should not be considered to be either a recommendation by Schwab or a solicitation of any offer to purchase or sell any securities.

These materials have been independently produced by Opal Wealth Advisors. Opal Wealth Advisors is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC. Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. Opal Wealth Advisors provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.