Savvy FAQ
A message from Nicole:
I'm excited to be transitioning my advisory relationship from LPL Financial to Savvy Wealth, and I'm sure you have questions! You're welcome to reach out to me via email, in the meantime, I wanted to answer the top questions I expect to be on your mind.
The most important things are staying the same: I’m still your financial advisor, Money Maven Financial is still my practice, and our planning relationship is not changing.
Why are you making this change?
I’m making this move to give clients a better technology and service experience and to spend less time navigating administrative systems and more time focused on financial planning and advice.
Savvy’s independent RIA structure also aligns well with the planning-focused practice I’ve built, and my commitment to serving as a fiduciary, meaning I do my best to do what's best for you.
Are you still my financial advisor?
Yes. I’ll continue to be your advisor and primary point of contact for financial planning, investment management, retirement decisions, and the other financial questions that come up along the way.
Where will my investment accounts be held?
Accounts transitioning with me will generally be custodied through National Financial Services LLC (NFS), an operating subsidiary of Fidelity Investments. There are some instances where we will use Schwab, which is our backup custodian. You will log in through the Savvy dashboard, which you can set up as part of your onboarding process.
Will my investments change?
Not right away, and not without your permission. Part of the decision to move is the goal of reducing the cost and improving the performance in your investments, so next time we connect, I'll want to discuss some recommended investment changes with you.
Will I need to sign paperwork?
Yes. Because your advisory relationship and custody arrangement are changing, there will be new account and advisory documents to review and sign. Most of this will be handled electronically, and I’ll let you know exactly what requires your attention.
What about accounts that aren't held at LPL?
Many accounts held directly with outside institutions will remain where they are. This may include certain 529 plans, employer retirement plans, 403(b)s, annuities, insurance policies, and other outside accounts. These accounts will not be moving or changing.
Will we still use RightCapital?
Yes. We’ll continue using RightCapital for financial planning.
Will my fees change?
The transition itself does not automatically change any fees, and I will be following the same fee schedule as in the past.
Do I have to move my accounts?
No, while I hope you’ll choose to continue working with me, that decision is yours. If you choose not to make the move with me, you'll want to connect with LPL to form a new relationship.
What do I need to do?
You will soon receive electronic documents that need to be reviewed and signed. The process should be very intuitive, but please reach out if you have any questions.
Is your approach to financial planning changing?
No. I’ll continue focusing on how your money supports the life you want to live—not just investment performance, but retirement, family, work, caregiving, generosity, and the other decisions that shape your financial life. The firms and technology supporting my work are what is changing, with the goal of spending more time with you, and less wrestling with technology on the back end.
Still have questions?
Please email me and I'll give you a call as soon as I can. It's important to me that you feel comfortable with the next steps, and this transition as a whole. 💕