Yes, we chose to be a fiduciary from the start. Acting in your best interest is our highest priority. How can we do anything but that if you are entrusting us with your life savings and financial future? We believe doing what is best for you is best for us in the long-term. We would rather give you advice that may hurt our business near-term because that is the right thing. It is how we invest in your success. More specifically, we adhere to the definition of fiduciary under the Investment Advisers Act of 1940, the fiduciary guidelines under the CFP Board, and being fee-only to meet the standards set by NAPFA, the National Association of Personal Financial Advisors.
Bill Kan has been providing advice in the financial services industry for over three decades. For over the last 10 years, Bill had focused on financial planning and investment management for families and high net worth individuals. His preparation began as a member of the research staff studying macroeconomics at the Federal Reserve Board in Washington, D.C. Bill joined Wall Street as a research economist supporting stocks and Treasury bond trading desks. From there, he transitioned to investment strategy covering various markets that included small cap stocks, private equity, and emerging market stocks for institutional investors. Bill is a Certified Financial Planning(TM) Professional and is a Certified Financial Analyst (CFA®) charterholder. Bill has a MBA in Finance from the Columbia Business School. He studied economics and graduated Phi Beta Kappa from Rutgers University.
Our only source of compensation is what our clients pay us directly. We did that on purpose in order to minimize conflicts of interest. This means that we do not accept sales-related commissions or referral fees. There are three ways to calculate our compensation. It can be a percentage of assets under management, a fixed-dollar arrangement, or a hourly rate depending on the service we provide clients.
Definitely. We wouldn’t be doing our job if we don’t. Lower costs are preferable for a better investment experience. In general, clients pay commissions to buy or sell securities, and ongoing management fees for open end mutual funds and exchange traded funds (ETFs). Securities and funds account for the bulk of the investment products that we recommend. Note that there are other types of costs involved with investing that we would be happy to discuss. They include the bid-ask spread, market impact, and others.
Always! For wealth management (ongoing financial planning and investment management), we charge a one-time engagement fee for wealth management and a percent of assets under management (AUM). Clients that decide to continue with ongoing planning and investment management after the initial engagement will receive a credit based on their engagement fee that will applied toward their AUM related charge during the first year of wealth management. For financial consulting, we charge hourly or by project. We do not charge commissions. Your custodian may charge commissions for transactions, which will be listed on the account statement and trade confirmations.
Candent will not. However, the custodian or other financial institutions related to your investment portfolio may charge. This is a great question to ask when choosing a custodian.
For wealth management, we will be communicating throughout the year. We will meet more structured meetings in the first year to get things rolling. Count on four to eight times in year one. In reality, we will meet as needed to get things done. In year two, we aim to formal meetings at least twice per year. Don’t hesitate to reach out to us even when you have something you want to discuss. We are here to support you.
Most clients choose to meet virtually from the convenience of their location of choice. Virtual also gives us them more flexibility if they want to involve other family members in the discussion. We are happy to meet in person in San Francisco, CA.
Yes. We are there to advise you in downturns, upturns, or any other turn in between. Expect us to reach out to you and would certainly welcome you to reach out to us to review the situation, consider how the situation may impact you, discuss the pros and cons of options, and construct an action plan based on the option that you choose. Ideally, the planning we did beforehand prepared us for the downturn and enables us to see the opportunities that it presents.
Yes, we manage investment portfolios for clients that hire us for wealth management. At Candent, wealth management in ongoing financial planning and investment management.
Investing involves putting capital (usually money) to work with expectations of receiving gains and income. It also involves risk. There are many different definitions of risk. Two of the most important are the risk of your not having the resources for your financial goals and the possibility of losing money permanently. Investing is about controlling what you can control and knowing what you can’t. We believe investment portfolios should be customized to your needs and circumstances. Everyone is different. We are not fans of cookie-cutter or one size fits all solutions when it comes to personal finances and investment portfolios. We construct portfolios tailored to you that are low cost, tax-efficient and broadly diversified. By making these decisions, you can can keep more of what your portfolio earns and reduce the risk for when undesired events happen. We use funds from various fund companies including Vanguard, iShares, DFA, Avantis. PIMCO, American Funds, Dodge & Cox, Jensen, and others.
Candent creates and manages investment portfolios using authority that you grant us through limited power of attorney at the start of our relationship. We invest on your behalf, which does not involve accepting sales commissions for product sales or referral fees from other professionals. The investment portfolios that we manage consist of securities that include publicly listed securities, open end mutual funds and exchange traded funds. We can incorporate private investments such as investment property, private businesses, or private equity, venture capital, hedge funds, and other forms, into your comprehensive financial plan.
For your security, your portfolio will be held in your name at the custodian of your choice. While we will recommend a custodian(s) where we have operating privileges, the choice is yours. Currently, we recommend that our wealth management clients custody with TD Ameritrade Institutional, which is in the process of being integrated with Schwab after their merger.
AN EMPHATIC NO! We believe that selling investment or insurance products could compromise our ability to serve in your best interests and to give you objective advice. As an independent, fee-only registered investment adviser, Candent does not accept any sales-related compensation or referral fees. Client fees are our only source of income.
NEVER. We would not want to affiliate with firms that would impose such a requirement. Such a requirement would be a conflict of interest in our eyes. We believe clients should have the freedom of choice.
Quarterly and more. We send portfolio reports every quarter to keep you informed about your holdings. Technology enables us to monitor your portfolio regularly. Instead of a set schedule, we will rebalance portfolios and execute trades as needed. We may adjust portfolios to manage risk or to accommodate changes in your goals and circumstances.
As a client, you have 24/7 access to the details of your portfolio. We send detailed quarterly portfolio reviews, and monthly summaries. We seek to have meetings at least two times per year via videoconference. Phone meetings and meeting in person in San Francisco are always available.
Candent is in the business of providing customized financial planning advice and investment management. We are dedicated to providing objective, well researched advice and actionable solutions. We do not sell investment products.
Yes, but do remember that your particular situation and our recommendations are fluid. Changes happen and can make descriptions and recommendations out-of-date.
Candent is dedicated to providing objective, well researched advice and actionable solutions regarding financial planning and investment management tailored to each of our clients. We do not provide tax or legal advice but are happy to collaborate with your existing team of advisors or recommend professionals at your request.
Based in San Francisco, our clients are busy professonals in technology and other STEM related fields. Many have children and some assist in caring for their parents. Many receive stock compensation from their employers and own investment property. We specialize in retirement planning and helping families make informed decisions to achieve their definition of the American Dream.
Busy professionals that lack the time, energy, or inspiration to manage their wealth.