Firm Info
Firm Size
Services Offered
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Educational Seminars & Workshops
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
Sound Financial Strategies Group, LLC Overview
Sound Financial Strategies Group, LLC is a fee-based registered investment advisory firm based in Flowood, MS. The firm has been in business since 2017 and offers a range of investment advice services to its clients. The firm's fee arrangement is based on a fee-based structure, which ensure that the interests of the clients are aligned with those of the firm. As a broker-dealer representative and insurance broker/agent, the firm is uniquely equipped to provide its clients with a well-rounded perspective on the investment landscape. Whether it is portfolio management for individuals or small businesses, the team at Sound Financial Strategies Group, LLC is dedicated to helping clients achieve their financial goals by offering expert advice and guidance. In addition to portfolio management services, Sound Financial Strategies Group, LLC also offers educational seminars and workshops to help clients better understand the many complexities of investing. From market trends to investment strategy development, these educational offerings are designed to help clients make informed decisions and navigate the often confusing world of finance.
The SOUND FINANCIAL STRATEGIES GROUP, LLC serves a wide range of clients, including individuals, high net worth individuals, and other corporation types not listed. Their expertise allows them to cater to the unique and varying financial needs of each client, providing them with personalized solutions for their financial goals. Depending on the service provided, SOUND FINANCIAL STRATEGIES GROUP, LLC offers different fee structures. For instance, they charge a percentage of Assets Under Management (AUM) fee for investment management services. This fee is calculated based on the total amount of assets that the firm manages for the client. It's a common fee structure in the investment management industry, where the firm charges an annual percentage of the total AUM, typically ranging between 0.25% to 2%. Other fee structures that SOUND FINANCIAL STRATEGIES GROUP, LLC offers include hourly fees, fixed fees, and performance-based fees. Each fee structure is tailored to the specific service offered, ensuring that clients receive a fair and transparent pricing model.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Sound Financial Strategies Group, LLC is $50,000 for investment management accounts, as stated in their Part 2 Brochure note about investment minimums. The note also indicates that clients may be able to aggregate related accounts or that the firm may be willing to accept a lower minimum in some cases, but this is at their discretion. It is important to note that exceptions to the minimum investment amount may or may not be granted.
How This Office Can Help Flowood, MS Residents
Sound Financial Strategies Group is a financial consulting firm that works with clients in Flowood, MS to help them achieve their financial goals. The team at Sound Financial Strategies Group is committed to helping clients navigate the complexities of personal finance, and they provide a range of services to help clients achieve financial success. Many people in Flowood, MS may be facing challenges related to retirement planning, managing debt, and investing for the future. Sound Financial Strategies Group can help clients plan for retirement by creating personalized strategies that take into account their unique financial situation. They can also help clients manage debt by offering advice on consolidating loans, reducing expenses, and creating a budget. In addition, Sound Financial Strategies Group helps clients invest for the future by offering investment management services designed to maximize returns while minimizing risk. Whether someone is just starting to plan for their financial future or is nearing retirement age, the team at Sound Financial Strategies Group can provide expert guidance to help them achieve their goals.
Services Offered by Sound Financial Strategies Group, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Sound Financial Strategies Group, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Unavailable
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Subscription (Newsletter or Periodical)
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
This firm has no other locations.
State Registrations
Sound Financial Strategies Group, LLC is registered to service clients in the following states:
- Alabama
- Arkansas
- Florida
- Georgia
- Louisiana
- Mississippi
- Tennessee
- Texas
Disciplinary History
Sound Financial Strategies Group, LLC does not have any disclosures. Please visit it's Form ADV for more details.