Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
- Selection of Others Advisors
- 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
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Cooper/Haims Advisors, LLC Overview
Cooper/Haims Advisors, LLC is a registered investment advisory firm that has been in the business since 2002. The firm is headquartered in Victor, NY, and operates on a fee-based arrangement. This means that the firm charges a fee for its services, rather than earning commissions on investments. As an investment advice-only firm, Cooper/Haims Advisors offers a range of services designed to help individuals, small businesses, and institutional clients manage their portfolios. This includes financial planning, portfolio management, and pension consulting services. The firm also offers educational seminars and workshops to help clients make informed decisions about their investments. In addition, Cooper/Haims Advisors can assist clients with selecting other advisors who can provide specialized advice based on their specific needs. Overall, Cooper/Haims Advisors, LLC is committed to helping clients achieve their financial goals by providing personalized, expert investment advice. With years of experience and a range of comprehensive services, the firm has established itself as a trusted partner for individuals and businesses in need of sound financial guidance.
COOPER/HAIMS ADVISORS, LLC serves a diverse range of clients in need of financial planning and investment management services. They work with individuals, high net worth individuals, charitable organizations, and various types of corporations who seek their expert guidance. Their financial advisory team understands the unique needs of each client and tailors their services to suit individual requirements. COOPER/HAIMS ADVISORS, LLC provides a variety of fee structures to choose from based on the nature of each client's engagement. Clients can opt for a percentage of assets under management fee, hourly fee, or fixed fee. These fee structures are designed to cater to different clients' needs and ensure transparency in billing. COOPER/HAIMS ADVISORS, LLC is committed to providing unparalleled financial advice and support to their clients.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Cooper/Haims Advisors, LLC is $1,000,000 for comprehensive financial planning and asset management services, as stated in their Part 2 Brochure note about investment minimums.
How This Office Can Help Monroe County, NY Residents
Cooper/Haims Advisors, LLC provides personalized financial planning and investment management services to clients in Monroe County, NY and the surrounding areas. The firm’s experienced advisors help clients overcome a range of financial challenges, such as saving for retirement, managing debt and expenses, navigating a job loss or career change, funding education for children or grandchildren, and planning for succession and estate transfer. The team at Cooper/Haims Advisors, LLC takes a comprehensive approach to financial planning, taking into account each client’s unique goals, risk tolerance, and financial situation. They help clients create a financial plan that aligns with their values and priorities, while also minimizing tax implications and maximizing investment return. In addition, the firm provides ongoing support and education to ensure clients feel confident and in control of their financial future.
Services Offered by Cooper/Haims Advisors, 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 Cooper/Haims Advisors, 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.
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.
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).
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
Cooper/Haims Advisors, LLC is registered to service clients in the following states:
- Arizona
- California
- District of Columbia
- Florida
- Georgia
- Massachusetts
- New York
- North Carolina
- Pennsylvania
- Texas
- Virginia
Disciplinary History
Cooper/Haims Advisors, LLC does not have any disclosures. Please visit it's Form ADV for more details.