Our FAQ section is a general list of helpful topics. For more information, please contact our office and one of our team members will be happy to help.
Getting Started
Can anyone get an investment proposal?
We encourage anyone who is seriously considering hiring a portfolio manager to request an investment proposal so long as they are financially qualified investors. However, we reserve the right not to write a proposal (or to withdraw a proposal) if we feel a person is not financially qualified or committed to a long-term relationship with our company or if that person does not agree with the guiding principles of our firm.
Does CrossPoint Wealth™ charge if I receive a proposal but do not open an account?
Our investment proposals are a service we provide to you at no cost. We understand that selecting a financial advisor is an important long-term decision for you and your family. Because our investment strategy works best with a long-term commitment, we encourage our prospective clients to consider our investment proposals carefully before agreeing to our services.
What is the minimum size portfolio needed to get started?
CrossPoint Wealth does not require a minimum to be met. During the interview process the advisor/firm will determine if the client will be a good fit for our services.
Will you give me advice on all my assets even if you are not managing them?
We only advise and manage assets that are set aside in specific TD Ameritrade Institutional accounts and placed under our care. We do not consult on financial assets a client holds outside of these managed accounts.
Will you accept stocks, bonds, and mutual funds that I transfer in?
We will accept securities into an account, but most will not be retained unless they are the same securities that we used in your investment proposal. Our responsibility is to manage your portfolio to the best of our ability. That includes selecting and monitoring all securities held in your account.
What do I do if I have mutual funds or other securities that I want to keep?
Any investment that you currently own and want to keep should be placed in a separate self-managed account. We can help you set up a non-managed TD Ameritrade Institutional account; however, we will not take responsibility for the account or oversee the assets in the account.
Investment Strategy
Am I involved in the day-to-day portfolio decisions?
Each portfolio follows a predetermined investment strategy. The portfolio you chose will largely be based on your risk tolerance, time horizon, and current financial situation. You are hiring CrossPoint Wealth to manage your accounts day-to-day according to this plan.
How will I know a trade has occurred in my account?
TD Ameritrade Institutionalwill notify you by mail or email each time CrossPoint Wealth makes a trade in your account. All trades are conducted in accordance with your written Investment Policy Statement. You do not need to contact anyone when you see a trade has been made. Please contact us if you have a question about a trade.
How do you select one fund over another?
No two indexes are created equal, no two index funds or ETFs are managed in exactly the same way. We analyze the underlying structure and range of each fund to find the ones that best represent each asset class in a portfolio. Other important factors are the volume at which the security trades and the cost to own the position.
Do you publish the past performance of your strategies?
As fiduciaries, we adhere to the strictest performance reporting standards. Each client receives a personal quarterly performance report benchmarked to their investment policy. While we do calculate composite performance information on all portfolio strategies, we do not publish this data in the public domain because these composite results have not been verified by an independent third party.
Account Operations & Reports
What custodian do we use at CrossPoint Wealth?
At CrossPoint Wealth we use TD Ameritrade Institutional as the custodian and licensed broker-dealer. CrossPoint Wealth has selected TD Ameritrade Institutional as custodian because of our trust level in their ability and commitment to client service, low trading cost, and a dedication to operational efficiency. Our management fees are kept competitive because of the operational efficiency created by having only one custodian.
Is CrossPoint Wealth affiliated with TD Ameritrade Institutional?
No. CrossPoint Wealth is not affiliated with TD Ameritrade Institutional or their parent company, nor are we compensated by that company in any way through fees, commission, or incentives. TD Ameritrade does provide our firm with the necessary software that allows our in-house portfolio management system to work efficiently and cleanly with TD’s back-office operations and trading desks. This software is available to all investment advisors affiliated with TD Ameritrade Institutional.
Do I have to go to a TD retail office to open an account?
No. You will be signing TD Institutional paperwork that we will send to you in order to open an account.
Will I have internet access to my account?
Yes. You may access your account(s) with CrossPoint Wealth 24 hours per day, 7 days per week through our client login section. The client login section will display a basic summary of all of your account(s) with us, including your current portfolio value, allocation, and quarterly performance reviews. For access to more detailed account information, such as account activity and year-end tax reports, clients can access everything through TD Ameritrade’s login.
How often do I receive statements and reports?
TD Ameritrade Institutional will send monthly statements to all clients for all accounts. These statements show account balances, trades, cash flows, and unrealized gains, etc. Statements are available in paper as well as through email. In addition, CrossPoint Wealth may utilize outside service providers who will send a performance report representing the current quarter performance, since inception performance, position holdings, etc.
Will I receive reports that will help with tax preparation?
At the end of each year, TD Ameritrade Institutional will send 1099’s to each client that has a taxable account. In addition, a realized gain/loss statement is available online from TD.
Is there a cost to terminate the agreement if I am not satisfied with your services?
No, CrossPoint Wealth does not charge a fee to terminate the agreement. Either party can terminate the Agreement at any time and for any reason. A final invoice will be drafted based on the number of days during the current quarter that the account was under management.
Asset Transfer & Withdraws
Transferring Assets
Once you’re ready to invest with CrossPoint Wealth, the first step is to create an account with our custodian, TD Ameritrade Institutional. Rest assured, our customer service team will aid you in this simple process, sending you all paperwork required to open accounts and transfer assets to TD.
Once this custodial account has been set up, your assets can then transfer seamlessly into this account either by wire or check. From start to finish, the entire process usually requires three to five business days to complete. However, depending on the type of security to be transferred, it may take up to several weeks.
Typically we do not place securities into our portfolios that do not align with our investment strategy. We understand that many of our clients may have securities in existing taxable accounts and by selling those securities, a taxable gain would be realized. Should you not wish to liquidate a taxable security, we will arrange for those securities to be transferred into a non-managed TD Ameritrade account under the same name as the managed account.
Withdrawing Assets
Clients may choose to withdraw money from a managed account at any time, either by automatic cash transfer or by mailing a traditional paper check. Automatic cash transfers can move money electronically from your TD account directly to your bank checking account. This process takes 24-72 hours and the transfer is completed at no cost through a TD MoneyLink
Statements & Reports
Does anyone at CrossPoint Wealth have access to my money?
CrossPoint Wealth has limited power of attorney to do three things; 1) trade securities with discretion, 2) request that TD Ameritrade send a check to a Client directly or to a Client’s bank, and 3) be paid a quarterly management fee from the account based on the contract rate. We have no other access or authority.
How is my privacy protected?
CrossPoint Wealth complies with all privacy laws affecting financial institutions. Each year our clients receive a Privacy Statement that outlines this responsibility in detail. Those standards are reviewed regularly to ensure they cover all forms of communication. Briefly, we will not release any information to any person who is not directly named on your account unless we have your permission to do so, with the exception of legal and regulatory authorities.
What does it mean to be a Registered Investment Advisor?
CrossPoint Wealth is a registered advisory firm with the state of Illinois. All professional investment management companies are required to register with the U.S. Securities and Exchange Commission (SEC) and/or the State(s) in which the firm conducts business activities. That registration is called an ADV, and it is available in two parts. ADV Part I is basic information about the advisory business, and ADV Part II is about the individual investment advisor.
How does an RIA differ from a brokerage firm?
RIAs (Registered Investment Advisors) are in the investment management business and have specific regulation agencies to monitor them closely. CrossPoint Wealth is regulated in its home state by the Illinois Securities Act. In contrast, brokerage firms are primarily in the financial product sales and distribution business, and they are regulated by the Securities Act of 1933 as well as other laws. As an RIA, we have a higher level of fiduciary responsibilitythan brokerage firms. We are required by law to work in our client’s best interest. Our fee is based on assets under management (AUM) rather than the brokerage model that is tied to the sale and distribution of financial products.
What ethical standards does CrossPoint Wealth adhere to?
All personnel including management personnel are required to sign an Annual Ethics Statement that outlines our ethical standards. Everyone at CrossPoint Wealth adheres to that strict ethical code as part of our daily operations.
Prospective investors may request an information package by phone or email. For inquiries by phone, please call (630) 799-8350 . For email inquiries, our email address can be found by clicking the “Contact” section.