FAQs
What professional credentials do you hold and what must you do to maintain those credentials?
Jean Jacques Borno holds the Certified Investment Management Analyst (CIMA®) and Chartered Financial Consultant (ChFC®) professional designations. The CIMA designation requires it licensees to maintain 20 hours of continuing education (CE) each year. The ChFC requires it designees to maintain 15 of CE each year.
Are you a member of any professional organizations?
Jean Jacques Borno is member of the Investment Management Consultants Association.
What is an investment policy statement and why is it important?
An Investment Policy Statement (IPS) a written strategic plan for managing your investment portfolio. It covers your investment objectives, your tolerance for risk, your asset allocation strategy, and your criteria for selecting investments. Your IPS can serve as a benchmark to measure success and monitor results.
What are the benefits of asset allocation and why is it important?
Asset Allocation is built upon academic research. Asset Allocation is a strategy to diversify your investments. The aim to help investors achieve the most efficient risk adjusted return.
Where are my assets held?
Your assets are held at a qualified brokerage custodian such as Charles Schwab, TD Ameritrade, or Scott Trade.
How often do I receive my statements?
Your qualified custodian (Schwab, TD Ameritrade, or Scott Trade) will send your statements monthly or quarterly if there is not investment activity. In addition, clients can visit the custodian’s website to get updated account information. Performance review statements are sent on a quarterly basis.
How do I pay for your services?
PRIVATE WEALTH CFOs charges a fee for Asset Management Services. The fee is a percentage of the assets under management, and billed quarterly in advance. For Financial Planning Services, PRIVATE WEALTH CFOs charges a flat fee or hourly fee.
How often will we meet?
We offer to meet with our clients on a quarterly basis.
Do you provide a written analysis of my financial situation?
Yes. We offer a comprehensive written financial plan.
Do you offer ongoing advice on my financial plan?
Yes. PRIVATE WEALTH CFOs will monitor financial plans for clients that sign up for our annual financial planning retainer services.
Can you coordinate my wealth planning with my attorney and CPAs?
Yes. To best help clients manage their wealth, we can collaborate with our client’s trusted advisors. In addition, PRIVATE WEALTH CFOs has access to secure technology to aid in all the trusted advisors work on solutions for their mutual clients.
Do you have a minimum account size?
PRIVATE WEALTH CFOs typical client has more than $1,000,000 to invest. PRIVATE WEALTH CFOs’ minimum asset management fee is $10,000 per year, and our maximum fee is 2.5% per year. Clients with less than $400,000 in assets under management may be subject to the maximum fee.
What is PRIVATE WEALTH CFOs’ TOTAL VIEW?
TOTALVIEW is PRIVATE WEALTH CFOs’ account aggregation tool. TOTALVIEW offers a holistic view of clients’ assets and liabilities. In addition, TOTALVIEW updates the account balances nightly.
Do you offer performance reporting for all my assets?
Yes. Many of our clients are looking for one source to find how they doing vs. their stated goals. PRIVATE WEALTH CFOs account aggregation tool allows us to report performance on 401ks, IRAs, checking accounts, etc.
