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AGH Update with LPL

COMING THIS FALL                                                                                                                                      AGH Wealth Management enhances relationship with LPL Financial

As part of our ongoing efforts to serve you, we are enhancing our relationship with our broker/dealer, LPL Financial. Since we joined LPL more than 13 years ago, the industry has adapted to allow investment advisory firms like AGH Wealth Management to become more independent in how we are able to serve clients. Our firm has adopted many of these changes over the years.

Beginning this fall, we will update our agreement with LPL Financial to eliminate unnecessary redundancies, allowing us to reallocate our resources and continue building our team to serve you. Our new arrangement with LPL Financial will only affect those accounts in which we charge an advisory fee (fee-based accounts). If you are receiving this announcement, one or more of your accounts is considered a fee-based account.

Over the coming weeks, we will communicate more details. We are excited to continue streamlining our business to provide the best possible service to you.


Frequently Asked Questions

  1. Will my investment strategies and account number change?

Most accounts will not be affected by this change, which includes no change in account number or investments.

Only one investment strategy we currently oversee will not be available with our updated arrangement with LPL Financial. However, we have found more than one comparable strategy and are working on a transition plan for those clients. For accounts that transition, account numbers will be updated to the new strategy. We will communicate directly with affected clients on their transition plan prior to the change.

  1. Will I still have online access to my accounts?

For most accounts, online access will not change.

For accounts that transition, you will no longer have online access to that account. We will archive all statements and have those available upon request.

  1. Will my account history and statements still be available?

For most accounts, your account history will still be available.

For accounts that transition, account history will only be available on past statements. We will archive all statements and have those available upon request.

  1. Is AGH Wealth Management leaving LPL Financial?

No. We are updating our arrangement with LPL Financial and will continue to custody current assets with them.

  1. Will I get to keep my current financial advisor?

Yes. The advisor(s) who currently work with you will continue to do so moving forward.

  1. Will my fees change?

In our commission-based accounts, transaction charges will not change. In our fee-based accounts, advisory fees will not change. For certain accounts that currently include the $40 per year small-account fee, this fee will now be waived.

  1. I have several different types of accounts. Will this affect all of them?

No. Only the fee-based accounts will be affected by this change and will require signatures on updated paperwork.

  1. Will my cost basis transfer?

Yes. All accounts where we have current cost basis information will transfer, including the accounts that transition to the new investment strategy.

  1. Will this affect my taxes or my tax reporting?

For most accounts, there will be no change to your tax reporting, and you should continue to receive tax statements as you do now.

For accounts that transition, you will receive tax reporting documents from both account numbers if applicable. We do not expect any significant realization of gains to affect those accounts which are taxable (non-IRA) accounts.

  1. How will this affect my recurring deposits or withdrawals and my money movement instructions on my current account(s)?

For most accounts, any money movement instructions or bank connections that currently exist on the accounts will remain unchanged.

For accounts that transition, we will provide updated paperwork to add instructions on the new account.

  1. If I currently have checks or a debit card on my account, will I need to order new checks or a new debit card?

No, you will not need to update your debit card or order new checks for your accounts.

  1. If I have an account that is collateralized with a bank, can I keep my current collateral terms or will I need to create a new collateral agreement with the bank?

This transition will not affect current collateral account terms or agreements.