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
- Pension & Profit Sharing Plans
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Cornerstone Wealth Management Overview
Cornerstone Wealth Management Group is a Fee Only registered investment advisory firm headquartered in Greeneville, TN. The firm was established in 2022 and has since worked exclusively in offering investment advice. Its services are focused on providing financial planning and portfolio management services for individuals as well as small businesses. As a Fee Only firm, Cornerstone Wealth Management Group puts your financial interest first. They do not receive any commissions or incentives for the investment products they recommend or execute on your behalf. Your financial progress is their top priority and they provide expert investment advice with the knowledge that your success equals their success. With their years of experience in providing investment advice, the professionals at Cornerstone Wealth Management Group offer critical financial insights that enable their clients to attain their financial objectives. Their services are tailored to meet the specific and unique needs of their clients, and with their expert guidance and management of investment portfolios, clients experience financial peace of mind knowing their investments are being handled by knowledgeable and experienced professionals.
Cornerstone Wealth Management Group provides comprehensive financial planning and investment management services to a variety of clients. Their clients include individuals, high net worth individuals, and charitable organizations. Cornerstone Wealth Management Group recognizes that each client has unique needs and goals, and they work with each client to develop a customized financial plan tailored to their specific circumstances. Cornerstone Wealth Management Group offers different fee structures depending on the services provided. For their investment management services, they charge a percentage of assets under management (AUM). This fee is calculated as a percentage of the total value of the assets they manage on behalf of their clients. For financial planning services, Cornerstone Wealth Management Group offers hourly billing. This fee structure is used when the services provided are project-based or when clients require a one-time financial analysis. Lastly, fixed fees are available for certain services, such as estate planning or tax preparation. This fee structure is pre-agreed, and can be helpful for clients who want to know the exact cost of a service upfront. Regardless of which fee structure is used, Cornerstone Wealth Management Group's clients can be assured that they will receive high-quality financial advice and services.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for Cornerstone Wealth Management Group does not mention anything about an investment minimum. Therefore, it is unclear what the firm's investment minimum may be. Interested investors should contact the firm directly to inquire about their investment minimums and other relevant details.
How This Office Can Help Westlake, OH Residents
Cornerstone Wealth Management is a financial advisory firm that assists clients in Westlake, OH with their unique financial goals and objectives. The firm offers an array of services, such as investment management, retirement planning, tax planning, and estate planning, to help clients navigate through their financial challenges. For instance, many people living in Westlake, OH are nearing retirement and may not have enough savings to support themselves throughout their golden years. Cornerstone Wealth Management helps these clients create a comprehensive retirement plan that accounts for their specific needs, such as healthcare costs, lifestyle preferences, and the desire to leave a legacy. Moreover, many individuals living in Westlake, OH also have children attending college or starting a business, which can be overwhelming and expensive. Cornerstone Wealth Management works closely with clients to create a customized financial plan that supports their children's goals while still maintaining their own financial security. In sum, Cornerstone Wealth Management provides personalized financial advice to clients to ensure that they achieve their financial dreams and live a comfortable life free of financial worry.
Services Offered by Cornerstone Wealth Management
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 Cornerstone Wealth Management 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
Cornerstone Wealth Management is registered to service clients in the following states:
- California
- Colorado
- Florida
- Georgia
- Kentucky
- Louisiana
- Michigan
- New Hampshire
- New Jersey
- Ohio
- Texas
Disciplinary History
Cornerstone Wealth Management does not have any disclosures. Please visit it's Form ADV for more details.