What level of service can I expect from THOR?
The relationship managers at THOR meet with our clients at least annually. Regardless of the frequency of the meetings, we work to exceed expectations when it comes to service. We have an operations team whose sole goal is to handle client needs and requests on a daily basis.
We want to be as closely-aligned with our clients as we can. THOR has a policy that employees can only invest in securities that our clients are invested in. In other words, our employees cannot buy a stock, ETF, mutual fund, bond, etc.. for their own personal account if we do not own the investment in our clients’ portfolios.
Does THOR use mutual funds or individual stocks/bonds in clients’ portfolios?
We want to generate the highest rate of return for a given level of risk for our clients. The securities we use to accomplish this task depend primarily on the client’s investment goals and objectives and THOR’s investment model.
If I transfer an existing account(s) to THOR, will all of my existing positions be sold?
Not necessarily. There are several factors to consider. Typically, we transfer an existing account in-kind to the new Schwab account. We then begin evaluating the quality of the investments in the portfolio to determine which to hold and which to sell. Taxes are a consideration in this analysis. If a wholesale liquidation of the account is warranted, we will work with the client to spread out any tax liability over an appropriate time period.
What is the difference between utilizing the services of a fee-only registered investment advisor like THOR and a traditional stockbroker?
Fee-only investment advisors’ incentives are aligned with client account growth. Increases in the account value translate into increased fees and, conversely, a decrease in your portfolio value reduces fees. Additionally, since THOR is completely independent, we have taken the necessary steps to eliminate any potential conflicts of interests, putting us in a position to select the best qualified investments for our clients’ portfolios. On the other hand, a traditional stockbroker is compensated with commissions or a combination of commissions and fees. Commissions are paid whether the client account increases or decreases in value. Because of this, brokers do not necessarily have their financial interests aligned with the client’s interest.
Why does THOR work with Charles Schwab & Co.?
We have voluntarily chosen to utilize Schwab as our custodian for a number of reasons. Schwab serves as our back office – executing trades, taking care of check requests, handling account transfers and other similar transactions. Schwab’s technology platform is one of the best in the business, so THOR and our clients benefit from a very efficient, streamlined organization.
How do I withdraw funds from my account?
You may place a single secure phone call to THOR’s operations department and we will handle the rest, in conjunction with Schwab. You will then receive a check in the mail or an electronic transfers to your local checking or savings account for the amount you requested.
How am I, the client, protected from fraud or negligence?
THOR has purposely never taken custody of our clients’ assets – all of THOR’s client assets are held at Schwab. When you hire THOR, you grant us the authority to make trades in your account, but we are never given access to your funds. Schwab accounts are SIPC insured, which protects each client account up to $500,000, should Schwab ever fail.
Will THOR help me with my tax return?
As a wealth manager, one of the key areas THOR provides financial advice in is tax planning. We periodically review client tax returns before they are submitted to the IRS. However, we typically do not prepare tax returns for clients. We will work with your tax preparer or we can help you establish a relationship with a tax preparer.