Flat Fee Portfolios - FAQs
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Who is MACRO Consulting Group?
Flat Fee Portfolios is an offering of MACRO Consulting Group, a distinguished wealth management firm located in New Jersey. As an independent firm, we remain flexible in our offerings of investment products and services.
MACRO Consulting Group's Senior Partner, Mark Cortazzo, CFP®, is highly accomplished and well recognized in the industry. Since founding MACRO in 1992, Mark has been profiled in many industry publications and has earned numerous awards and accolades. Mark was recently named to the Barron’s 2014 Top Advisor List for the sixth consecutive yeari. Other achievements include being chosen as “Advisor of the Year” by Boomer Market Advisor magazineii and being named to “Top Advisor” lists by Research magazine,iii Registered Rep,iv Worth,v and Fortune.vi He has been recognized in his home state on the “Top Forty Under 40” list by NJ Bizvii and in the “Five Star Wealth Manager” rankings which are featured in NJ Monthly magazine.viii
Mark is regularly called upon as a resource for many national publications and periodicals, including The Wall Street Journal, Barron's, Kiplinger's Personal Finance Magazine, InvestmentNews and Bloomberg Personal Finance. He has made multiple television appearances including co-hosting FOX Business, as well as appearing as a repeat guest on CNBC’s Business Day programs and Consuelo Mack’s “WealthTrack” on PBS.
i Based on assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. (2009-2014); ii Based on extensive industry knowledge and experience, the ability to navigate his clients through the downturn, his approach to addressing longevity and income issues, and the power to stand out from the competition (2010); iii Based on minimum of 15 years industry experience, assets under management, client service, peer recognition, and selected by a panel of judges (2003); iv Based on proprietary ranking methodology (2009 & 2011); v Based on nominations, industry associations, background, professional designations, client retention rates, and average portfolio returns (2002); vi Based on proprietary ranking methodology (2008); vii The Top Forty Under 40 is based on age, leadership, and a record of achievement (2004); viii Award is based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of the Five Star Wealth Managers. (2011-2014)
What are the fees for this service?
Please visit Our Fees page.
What is the minimum amount needed to establish a portfolio?
The aggregate household minimum to become a Flat Fee Portfolios client is $200,000. Each model portfolio has its own account minimum. Visit Our Fees page for more information.
What is included in the management fee?
The fee includes an annual client review with a dedicated advisor, online account access with consolidated portfolio values, quarterly performance reports with market commentary, and quarterly state of the market webinars. View Offering page for more information.
What is not included with Flat Fee Portfolios?
Flat Fee Portfolios is a low-cost asset management program. The service does not include financial planning. If you are interested in financial planning services, such as retirement income planning, insurance, and tax planning, please call 973-451-9400 to speak with a MACRO Consulting Group Advisor regarding offerings available outside the Flat Fee Portfolios program.
Are these the only fees?
Outside of our quarterly management fee, mutual funds and Exchange Traded Funds (ETFs) also have their own internal expenses. Additionally, separate transaction costs may be charged by the custodian to place trades in the accounts. These trades will be executed at a discounted rate with the custodian when possible. Please note that MACRO does not receive any portion of these additional fees.
Where are my accounts held?
Clients in the Flat Fee Portfolios program have the comfort of knowing their accounts are held at a third party custodian. In this type of arrangement, clients grant us limited power of attorney to (1) monitor the accounts on a daily basis, (2) place trades on a discretionary basis, and (3) deduct our management fee from the account.
MACRO recommends TD Ameritrade Inc and/or Fidelity Investments as the custodian for client investment management assets. For disclosures from both custodians, please see below.
Fidelity Investments is an independent company, unaffiliated with MACRO Consulting Group. Fidelity Investments is a service provider to MACRO Consulting Group. There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by MACRO Consulting Group and does not guarantee or assume any responsibility for its content. Fidelity Investments is a registered service mark of FMR LLC. Clearing, custody, or other brokerage services may be provided by National Financial Services LLC or Fidelity Brokerage Services LLC. eReview # 621499.1.0
TD Ameritrade, Inc. is the firm that we use to custody our client assets. TD Ameritrade and MACRO Consulting Group are separate and unaffiliated firms, and are not responsible for each other’s services or policies. TD Ameritrade does not endorse or recommend any advisor and the use of the TD Ameritrade logo does not represent the endorsement or recommendation of any advisor. Brokerage services provided by TD Ameritrade Institutional, Division of TD Ameritrade, Inc., member FINRA/SIPC/NFA. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. Used with permission.
Does the Flat Fee Portfolio team have to contact me before executing trades in my account?
No. Each portfolio is managed on a discretionary basis according to the strategy agreed upon between the investor and the advisor. Once your account is established, we regularly assess the account’s investment objective with you during your annual review.
Will I get trade confirmations after changes are made in my portfolio?
The custodian automatically notifies you by regular mail or e-mail.
Can I add money to an account after it's established?
Yes, you can deposit additional funds into an account at any time.
How easily can I withdraw funds from the account after it's established? Are there any penalties?
MACRO Consulting Group does not assess any penalties if you need to withdraw funds; however these portfolios are managed according to a philosophy of long-term investing and periodic withdrawals may affect the performance of the account. The proceeds of a sale in your account are available after the settlement period which may take up to three business days from when the trades are placed. Please be aware that withdrawals made from qualified accounts prior to age 59 ½ are subject to an IRS penalty tax, and gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Additionally, if you choose to transfer the account to another institution, the custodian may charge a transfer fee.
What is the cost to terminate the Flat Fee Portfolio program?
The Investment Advisory Agreement between MACRO Consulting Group and the client will continue in effect until terminated by either party by written notice in accordance with the terms of the Agreement. Upon termination, MACRO shall refund the pro-rated portion of the advanced advisory fee paid based upon the number of days remaining in the billing quarter. We cannot be responsible for any fee charged directly by the custodian.
What is the relationship between MACRO Consulting Group and the custodians?
MACRO Consulting Group is not affiliated with the custodians who hold our clients' accounts and we receive no direct compensation by way of fees or commissions from them. Our compensation is derived directly from our client relationships. The custodians do make available the use of their proprietary technology for account management, trading, and access to research reports. We may also attend custodian sponsored professional education conferences.
Is my personal information kept secure?
How often will I receive statements?
You will receive monthly statements directly from the custodian which document holdings and detail transactions in your account. You may also access your accounts online through the custodian’s website. Additionally, you will receive quarterly performance reports with market commentary from MACRO Consulting Group posted directly to your online account portal.
I have additional mutual funds, stocks and bonds that I do not want to sell. Can I hold them in a Flat Fee Portfolio account?
No, you cannot hold additional mutual funds, stocks, and bonds in your Flat Fee Portfolios account because it is managed based on a specific strategy.
How quickly can I get started?
Visit our Get Started Now page or call us at 855-223-2300. We look forward to hearing from you and talking further about Flat Fee Portfolios.