Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
- Other
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
- Charitable Organizations
- Other Investment Advisors
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Beacon Wealth Consultants, Inc. Overview
Beacon Wealth Consultants, Inc. is a fee-based investment advisory firm headquartered in Roanoke, VA. The firm was established in 2020 and has been in business for a little over a year. They are registered as an investment advice only firm, meaning they solely provide investment advice and do not engage in any other type of investment activity. Beacon Wealth Consultants, Inc. offers a range of services to their clients. These include financial planning to help individuals and small businesses manage their finances. They also offer portfolio management services for individuals and small businesses to help them grow their wealth over time. In addition, the firm also offers portfolio management services for businesses and institutional clients. Apart from investment advice, Beacon Wealth Consultants, Inc. also provides other services, including pension consulting services. This service is aimed at helping clients manage their pension portfolios effectively to achieve their retirement objectives. Additionally, the firm provides estate administration services and legacy coaching to help clients plan their estate effectively and ensure their legacy lives on even after they are gone. Overall, Beacon Wealth Consultants, Inc. is a comprehensive investment advisory firm that caters to various clients' needs, offering a range of services to help them meet their investment and financial objectives.
BEACON WEALTH CONSULTANTS, INC. is a financial advisory firm that caters to a diverse range of clients. They work with individuals, high net worth individuals, pension or profit sharing plans, charitable organizations, other investment advisors, and various corporation types not listed. BEACON WEALTH CONSULTANTS, INC. focuses on delivering customized financial solutions to satisfy each client's unique needs and goals. The firm offers flexible fee structures depending on the services provided. The fee structure may be based on the percentage of Assets Under Management (AUM), which means that the fees scale as the investment portfolio grows. Alternatively, BEACON WEALTH CONSULTANTS, INC. also offers hourly rates where the client pays for only the time and the advice they receive - useful for people who require a more specific and limited scope of services. The fixed fee structure, on the other hand, is suitable for clients that want a predictable fee structure. Under this model, BEACON WEALTH CONSULTANTS, INC. offers a flat rate depending on the complexity of a particular client's portfolio. Thus, whoever needs sound financial advice, BEACON WEALTH CONSULTANTS, INC. is an excellent choice that provides flexible fee structures.
Typical Clients, Fee Structures & Investment Minimum
According to the note in their Part 2 Brochure, BEACON WEALTH CONSULTANTS, INC. has an investment minimum for their Select Equity Portfolios, which is $500,000. The note specifies that this program is a "strategic asset allocation program," but it does not mention any investment minimums for their other programs or services. Therefore, it seems that the investment minimum only applies to the Select Equity Portfolios and not to other investment options that may be available through the firm.
How This Office Can Help Salem, VA Residents
Beacon Wealth Consultants, Inc. provides comprehensive financial planning and investment management services to clients in Salem, VA. The company understands the unique financial challenges that individuals and families in this area may face. For example, many in Salem may be concerned about saving for retirement, funding their children's education, and preparing for unexpected life events like a health crisis or job loss. Beacon Wealth Consultants, Inc. works with clients to develop customized financial plans that address these concerns and help them work towards their long-term financial goals. They also provide ongoing support and guidance as clients navigate life's uncertainties and work towards achieving financial security for themselves and their families.
Services Offered by Beacon Wealth Consultants, Inc.
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 Beacon Wealth Consultants, Inc. 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
Firm Headquarters
This firm has no other locations.
State Registrations
Beacon Wealth Consultants, Inc. is registered to service clients in the following states:
- Florida
- New Jersey
- North Carolina
- Oregon
- Pennsylvania
- Tennessee
- Texas
- Virginia
- West Virginia
Disciplinary History
Beacon Wealth Consultants, Inc. does not have any disclosures. Please visit it's Form ADV for more details.