Frequently Asked Questions

$1,000,000

Yes, we have been a fiduciary since our founding in 2000.

Charles Schwab, Fidelity and TD Ameritrade are the preferred custodians we utilize for our clients.

No. We have two relationships with the most well-known discount brokerage firms so that our clients have choices. We find that some clients have an affinity toward one or the other.

No. Your money is always held with the custodian (Schwab or Fidelity). We are granted limited rights such as trading, disbursement to your address of record and limited withdrawal rights as it only pertains to our agreed-upon fees (of which Schwab and Fidelity monitor and authorize release).

No. Your investments are ALWAYS held in your specific account, under your name (or trust or entity of your direction) and your tax ID number. Your money is separate and distinct to you.

We have limited access to just trading and the collection of our agreed upon fee which the custodian monitors. We have the ability to process distributions to your address of record and to accounts for which a signed authorization by you is registered with the custodian.

No.

No.

Many of our retirees receive scheduled monthly deposits to their preferred banks.

Yes. However, that needs to be done via your signature and set up and authorized by the custodian.

• All wire or distribution requests have to be verified with a phone call.
• Any distribution requests to addresses or non-linked accounts (such as indicated above) can’t be done without you signing new paperwork authorizing such a distribution (per Schwab and Fidelity rules, they will not act on instructions from our office without your signature).

You are notified of such a change, and your account is put on distribution restrictions for a period of time.

Schwab has handpicked approximately 200 firms nationwide and Fidelity about 100 to which they refer clients. MW is on a very short list of firms “approved” on both platforms. For perspective, there are approximately 26,000 firms in the country.

Schwab Advisor Network (SAN®)

Fidelity Wealth Advisor Solutions (WAS®)

Yes. There are a number of quality checks they perform themselves. From time to time, they also require third parties to conduct audits.

We've been with Schwab (SAN®) since 2003 and Fidelity (WAS®) since 2010.

Yes. Once enabled, our clients have 24/7 access to their accounts and a secure document vault.

Yes, our conversations are confidential. We adhere to industry and professional ethics standards.

Mission Wealth Privacy Policy

Since we are not attorneys, however, our files and our staff can be compelled by court order to share information.

Non-discretionary management means that the client needs to approve the timing, amount and pricing of each trade.

Discretionary trading allows your advisor to make transactions on your behalf without your approval on each transaction. Mission Wealth operates on a discretionary basis, which allows us to rebalance, replace investments and manage the collective investments of our clients in an efficient and timely manner. For each client, before we invest money, we come to a mutual agreement regarding the asset allocation and risk levels, and we stick to those agreed-upon parameters. If we deem a change to those parameters to be warranted, we obtain permission with the client on those modifications.

Your money is held directly with the custodians, and we are simply a servicing advisor you have linked to your accounts. While we have disaster recovery and backup systems in place, you can always assign a new advisor with the stroke of a pen.

With how the financial industry is structured, your funds are not assets of the custodian (with the exception of “cash” or money market funds, which have SIPC protection limits). In the unlikely event they were to go out of business, you can transfer your funds to another institution (i.e., just like the brokerage clients of Lehman Brothers and Bear Stearns did in the 2008 crisis).

“How Your Assets are Protected at Schwab”

Fidelity's “Safeguarding Your Accounts”