Fee-Only Advisors Monitoring Your Account & Keeping In Touch

Fiduciary Advisor

STEVE ROBBINS, CFP® is an independent fiduciary, fee-only investment adviser, who accepts no payment or economic benefit for professional services from any source other than client fees.

Fiduciary Standard

For years, many advisers have followed the Suitability Standard. This means they are only expected to make recommendations that are considered "suitable" for their clients. This allows advisers to give advice that may be in the adviser’s best interest, but not necessarily in the client's best interest, as long as that advice can technically still be considered "suitable."

There is, however, a higher standard that some advisers hold to. It's called the Fiduciary Standard. Advisers who are fiduciaries put their clients' interests before their own. Even if the advice that an adviser gives is less good for the adviser, they must give it if that's what is best for the client.

Fiducary Defined

On December 15, 2020, the Department of Labor issued its interpretation of fiduciary. Basically, when we provide investment advice to you regarding your retirement plan or individual retirement account (IRA), we are fiduciaries under the laws governing retirement accounts.  As a fiduciary we must (1) meet a professional standard of care when making investment recommendations (give prudent advice); (2) never put our financial interests ahead of yours when making recommendations (give loyal advice); (3)avoid misleading statements about conflicts of interest, fees, and investments; (4) follow policies and procedures designed to ensure that we give advice that is in your best interest; (5) charge no more than is reasonable for our services; and (6) give you basic information about conflicts of interest.

In the End

So, what does all of this mean for our firm? Absolutely nothing.

You see, we have been following the Fiduciary Standard for years. We've always put our clients' interests first. There are three reasons for this. First, because we know the only way we can be successful is if our clients are successful. Second, because our greatest passion is helping people work toward their financial goals, and we believe that acting as a fiduciary is the best way to do that. Third, and most importantly, we've always followed the Fiduciary Standard because we believe it's the right thing to do. So, for us, it's business as usual.

Safeguarding Your Investments

An important - and indelicate (so we'll ask it for you) - question is "how secure are my accounts?" "Who would have access to them?" STEVE ROBBINS, CFP^® takes the security of client funds very seriously and has adopted a number of "check and balance" systems to protect you.

Custodians

For instance, all client accounts are held - "custodian" - at major, independent third-party financial institutions, not at STEVE ROBBINS, CFP^®.  Pershing, L.L.C. and Nationwide Advisory Solutions serve as our primary custodians. Transfers go directly to the custodial institution, and when you want money, checks are sent directly to you from the institution. All accounts are titled directly in your name. All checks are to be made out directly from you to the custodian institution - never to STEVE ROBBINS, CFP^® or its personnel.

Confidentiality

Likewise, we take the security of your personal, confidential information very seriously, and have a host of procedures to protect it, both in paper and electronic form. To view a copy of our company Privacy Principles detailing these procedures click here.

Q: What happens if key personnel die or retire?

A: As part of our required business continuity and disaster recovery plan, we have written systems in place for continued management of your portfolios in the event of the loss of one or more key personnel. Although our internal office entails a staff of five full-time team members, we are supported by outside parties in order to ensure continuous monitoring and management of your investments in the event of a disaster or death. All STEVE ROBBINS, CFP^® managed accounts are custodied at Pershing, L.L.C. or Nationwide Advisory Solutions, and are titled directly in the names or trusts of our clients. As such, your accounts would remain at these custodians in your name.

Pershing, L.L.C. is the industry's largest global business solutions provider, with more customers who clear with them than any other firm. For more information about Pershing, L.L.C. click here. Nationwide Advisory Solutions began as Jefferson National Life Insurance Company.  Founded in 1937, Jefferson National is a recognized innovator of tax-deferred investing solutions for Registered Investment Advisors, fee-based advisors, and their clients. For more information about Nationwide Advisory solutions, click here.

In addition to account custodians, through our association with Envestnet Asset Management, Inc., your accounts remain accessible via online account viewing, continued daily account aggregation, transaction and cost basis reporting. Envestnet is one of the largest providers of wealth management solutions in the financial industry. For more information about Envestnet, click here.

Steve Robbins is a Registered Investment Advisor of STEVE ROBBINS, CFP^®.  He maintains the ongoing educational and ethical qualifications associated with the Certified Financial Planner™ Professional designations.  Samantha Robbins is a Financial Paraplanner Qualified Professional™  and responsible for assisting with research, monitoring, management and placing trades for all client accounts. All staff is well-versed in the methodology, resources, and research tools used to manage and make trade decisions on client portfolios. All personnel is familiar with the activities involved in running our firm and providing services to our existing clients. The loss of any one or two of us could be handled by the remaining staff, albeit with some outside assistance from the aforementioned institutions we are associated with. Our systems are designed to avoid disruption of our ability to continuously deliver results and service to our clients. Our policies and procedures are in place to engender continuity of service, excellence, and the firm's dedication to its values and your needs and goals.