Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
- Other
Redwood Financial Network Overview
Redwood Financial Network is a fee-only registered investment advisory firm that has been in business since 2014. The firm is headquartered in Solon, OH and offers a wide range of financial planning services and portfolio management for both individuals and small businesses. In addition to these services, Redwood Financial Network also provides portfolio management for businesses or institutional clients. As an insurance broker/agent, Redwood Financial Network offers investment advice alongside other insurance services. The firm's fee-only fee arrangement means that clients can be confident that they are receiving unbiased and independent advice with no conflict of interest. With Redwood Financial Network, clients can benefit from their years of expertise and experience in the industry. Redwood Financial Network can also assist clients in selecting other advisors or professionals that they may need to build a comprehensive financial plan. The firm is committed to providing personalized solutions and building relationships with their clients, ensuring that they feel confident and informed about their financial decisions. Overall, Redwood Financial Network's broad range of services and expertise make them a reliable partner for anyone looking to improve their financial outlook.
REDWOOD FINANCIAL NETWORK offers a diverse range of services for varied types of clients. The firm caters to individuals seeking portfolio management services for their personal investments. Its client base also includes high net worth individuals requiring comprehensive wealth management and financial planning services. REDWOOD FINANCIAL NETWORK offers specialized retirement plan management services for pension and profit sharing plans as well. The firm's clients benefit from the expertise of its experienced financial advisors who leverage their knowledge and skills to provide tailored financial solutions. REDWOOD FINANCIAL NETWORK provides a range of fee structures to suit clients' needs and financial goals. Clients who prefer to pay a percentage of their assets under management (AUM) can opt for this fee structure. Alternatively, clients can choose to pay for advisory services on an hourly basis, depending on the time spent on providing financial advice. Fixed fees are also available for certain services, particularly for newly obtained clients, where a comprehensive review of their existing portfolios is conducted. Other types of fees, such as performance-based fees, may be agreed upon depending on the client's preferences and the specific service provided. REDWOOD FINANCIAL NETWORK prides itself on its fair and transparent fee structures, ensuring its clients always receive value for their money.
Typical Clients, Fee Structures & Investment Minimum
According to the note in their Part 2 Brochure, Redwood Financial Network has a minimum account size of $250,000 for new client accounts. Therefore, clients looking to invest with Redwood must meet this investment minimum in order to establish an account with the firm.
How This Office Can Help Solon, OH Residents
Redwood Financial Network is a financial planning firm based in Solon, OH that offers a range of services to help clients manage their finances. Whether you need help with retirement planning, investment management, or estate planning, Redwood Financial Network has the expertise and knowledge to assist you. Their team understands that each client has unique financial goals and needs, and they work closely with you to develop a personalized financial plan that aligns with your objectives. Clients in Solon, OH may face a variety of financial situations, such as saving for retirement, paying for college, or managing debt. Redwood Financial Network offers solutions to help clients navigate these challenges, such as setting up a diversified investment portfolio, creating a savings plan, or restructuring debt through consolidation. They also provide ongoing support and guidance to help you stay on track and adjust your plan as needed. Overall, Redwood Financial Network is committed to helping clients in Solon, OH achieve financial security and peace of mind.
Services Offered by Redwood Financial Network
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 Redwood Financial Network 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.
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.
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.
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.
Unavailable
Subscription (Newsletter or Periodical)
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).
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
- Mon 9 AM–5 PM
- Tue 9 AM–5 PM
- Wed 9 AM–5 PM
- Thu 9 AM–5 PM
- Fri 9 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
This firm has no other locations.
State Registrations
Redwood Financial Network is registered to service clients in the following states:
- California
- Florida
- Georgia
- North Carolina
- Ohio
- Oregon
- South Carolina
- Texas
Disciplinary History
Redwood Financial Network does not have any disclosures. Please visit it's Form ADV for more details.