Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
Heritage Financial Services, LLC Overview
Heritage Financial Services, LLC is a registered investment advisory firm based in Westwood, MA. With over 15 years of experience in providing investment advice, this firm exclusively offers fee-only services, ensuring that its clients always receive objective advice that considers their best interests. Heritage Financial specializes in financial planning and portfolio management for individuals and small businesses. The team at Heritage Financial Services is dedicated to helping its clients achieve their financial goals in a personalized and efficient manner. By offering investment advice only, this firm ensures that it remains focused on its core areas of expertise. Clients of Heritage Financial can trust that their portfolio management and financial planning needs will be expertly managed. Since its founding in 2005, Heritage Financial Services has built a strong reputation for helping clients navigate the complexities of financial planning and investing. The firm's commitment to providing transparent and objective advice has made it a trusted partner for individuals and small business owners seeking to make the most of their financial resources. If you're looking for an investment advisory firm that puts your best interests first, Heritage Financial Services is a top choice.
Heritage Financial Services, LLC is a full-service financial advisory firm catering to a diverse range of clients. The firm has developed a reputation for delivering expert financial counsel to individuals, high net worth individuals, and charitable organizations. Heritage Financial Services, LLC understands the unique financial needs of each client and is committed to delivering customized financial solutions that are tailored to meet these needs. When it comes to fee structures, Heritage Financial Services, LLC offers a range of options depending on the specific services provided. One popular fee structure that Heritage Financial Services, LLC offers is a percentage of AUM, which refers to the assets under management. Under this arrangement, clients pay a percentage of their total assets under management as the fee for services rendered. This fee structure works well for clients who have significant assets to manage and who require ongoing support and investment management services. Other fee structures may include hourly rates or flat fees, which may be more appropriate for clients seeking one-time financial advice or consulting services. Regardless of the fee structure selected, Heritage Financial Services, LLC always strives to provide its clients with excellent value and exceptional customer service.
Typical Clients, Fee Structures & Investment Minimum
According to the note in HERITAGE FINANCIAL SERVICES, LLC's Part 2 Brochure, the minimum household size to obtain advisory, financial planning, and asset management services is generally $1,000,000. However, households below this minimum may be accepted at the firm's discretion. It is also noted that the performance of smaller accounts may vary from the performance of accounts with more dollars invested due to smaller accounts potentially having more concentrated portfolios.
How This Office Can Help Laguna Niguel, CA Residents
Heritage Financial Services is dedicated to providing quality financial planning and investment management services to clients in Laguna Niguel, CA. Our team of experienced advisors works with individuals, families, and businesses to help them achieve their financial goals and build long-term wealth. Living in Laguna Niguel, many clients may be facing unique financial situations, such as managing complex investment portfolios, planning for retirement, navigating tax laws, or creating estate plans. Heritage Financial Services can provide guidance and tailored solutions to help navigate these challenges and achieve financial security. Whether you are just starting your career, saving for your child's education, or planning for retirement, Heritage Financial Services has the expertise to help you succeed.
Services Offered by Heritage Financial Services, 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 Heritage Financial Services, 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
Firm Headquarters
This firm has no other locations.
State Registrations
Heritage Financial Services, LLC is registered to service clients in the following states:
- California
- Connecticut
- Florida
- Georgia
- Illinois
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Rhode Island
- South Carolina
- Texas
- Vermont
- Virginia
Disciplinary History
Heritage Financial Services, LLC does not have any disclosures. Please visit it's Form ADV for more details.