Encore Wealth Advisors - August 2025 Newsletter
Changes Coming to Encore
We are getting towards the end of summer, and the days are getting shorter. While typically our business is a bit slower during the summer months, it is not this year. There is a good reason for that, and it is time to share it with you.
What's Happening?
We are in the process of consolidating custodians into one, or at most two. This will simplify your experience. You will receive less mail and fewer statements.
We are moving to a fee-only business model and taking on the responsibility of being a full-time fiduciary in advisory relationships. This is the highest standard of care in the industry, and we are willing to take on this responsibility with all our clients. Currently some of our clients are under this higher standard of care and some are not based on their account type. In the future all will be.
We will also take on full trading authority so we can make more timely adjustments to your investments throughout the year. While we cannot guarantee higher returns, in the last ten years we have been managing money in this fashion with good results. This change simply offers this management method to all clients.
Moving to fewer custodians will allow us to negotiate lower fees as our business continues to grow. Many of our clients will immediately see lower asset management fees. Some will stay the same. Since there are no commissions, some will pay a smaller management fee than they paid for commissions.
While we can’t make blanket statements for all accounts, our goal is to reduce asset management costs, wherever possible. Thanks to our current size and scale, we’re able to negotiate better terms- and we’ll cover transfer costs, if any, involved in the consolidation.
In the future our clients will pay no trade commissions to us so we will have full flexibility to manage assets without paying trading fees. This will cover nearly every investment scenario. In almost every case this will increase the ability to diversify across even more money managers than we have today.
What do you need to do?
Nothing right now.
Starting in mid-September, we will contact you via email. The email will direct you to e-sign some transfer documents to consolidate custodians. We believe it will take just a couple of minutes at most. You don’t have to be a tech guru and if you get stuck, we are here to help.
Please note that until you sign the transfer documents to the custodian, we will NOT be able to manage your money, invest new money, or withdraw money. We have planned to handle emergencies.
In a separate mailing we will send you information on how to log into the new custodian and electronically access your account. You will continue to receive paper statements unless you choose to go paperless.
That’s it!
We’ll take it from there and continue to manage your investments as we have before. This extra work will be worth it as we work with an ever-increasing number of clients. We appreciate each and every one of you and look forward to these changes setting us up to serve you and your family more efficiently and for years to come.
If you have any questions, please let us know.
Warm Regards,
.png)