Yes, financial advice is our specialty. Our firm has provided financial advice to clients since 1957. We have 3 financial advisors located in Cleveland, MS, and 1 financial advisor in Winona, MS. The financial industry is known for describing financial professionals using different terms. You may have heard that you need a financial advisor but are unsure what it means? A financial advisor is another term for a financial professional. Financial professionals often call themselves various names such as:
They all do very similar things. You should always vet out the financial professional or "advisor" that you choose to do business with. Our firm has 3 financial advisors in Cleveland that are Series 7 & 66 licensed and focus primarily on investment management. However, BBP Financial Group does have a Certified Financial Planner on staff as well.
Our financial services work best with residents of Cleveland, MS, and the surrounding Mississippi Delta area. We work with a broad range of individuals, families, and businesses from Cleveland to Indianola to Greenville. However, we offer 100% virtual financial services through various platforms like Zoom, Microsoft Teams, and Google Meet. Our clients are successful and aspiring entrepreneurs, pharmacists, doctors, lawyers, attorneys, and farmers.
Our fee structure varies depending on the financial services that we provide. Our services include investment management, personal and family financial planning, and our personal financial officer (PFO) service.
BBP Financial Group can serve investors in a fee-based or fee-only capacity.
Fee-based investment service
Our fee-based service is tailored for investors that have good knowledge of the financial markets and looking for someone to facilitate financial transactions on their behalf. We either charge commissions to purchase individual stocks or front-end sales loads for ongoing purchases of mutual funds. We typically charge a $40 commission fee per transaction for individual stock trades in the public market. Our mutual fund sales-load fees are based upon various breakpoint schedules set by different mutual fund companies.
Fee-only investment service
Our fiduciary, fee-only service is tailored for hands-off investors that have limited knowledge of the financial markets and looking for someone to manage their entire investment account on a discretionary basis. Our fee-only service aligns our interest with your interest to assure that we do better when you do better. We charge an annual asset management fee that typically ranges from 0.5% to 1%. This fee will vary based upon in-house breakpoint schedules or additional fees set by third-party asset managers (TAMPs).
BBP Financial Group charges a predetermined, non-recurring fee for single-issue financial plans and comprehensive financial plans.
Single-issue financial planning service
BBP Financial Group offers a single issue or single facet financial planning service. This is best for people that need assistance with financial planning in a specific area of their life. This may be social security maximization, college planning, or hyper-focused financial advice. We charge a one-time fee to provide this service that generally ranges from $500 - $800 depending upon the complexity and time required to draft the plan. This service is usually quoted at $150 per hour and generally takes 3 to 4 hours.
Comprehensive financial planning service
BBP Financial Group offers a comprehensive financial planning service. This is best for people that need a wide, broad-based range of financial planning services. Our comprehensive financial planning service covers most of your financial life and not just one corner. It includes a detailed analysis and assessment of your finances. We will draft a detailed financial plan document that includes various assumptions and recommendations including an insurance, tax, estate, investment, and retirement plan. Our comprehensive plans typically require 20 to 40 hours of financial planning work at a rate of $150 per hour. They typical cost for a plan will range from $3,000 to $6,000 and typically take a month to complete.
BBP Financial Group offers a comprehensive investment management and financial planning package for busy people. This will combine our comprehensive financial planning service with our investment management strategies to manage every aspect of your financial life. You will receive an upfront comprehensive financial plan and ongoing monitoring of the plan. You will also receive ongoing investment management services. This program is only available for high-net worth clients with investable assets greater than $250,000 and an ongoing need for financial planning services. Our fee for this program ranges from 1.25% to 1.75% of assets under management annually. There will be no upfront fee for this program.
Our financial advisors build long-term relationships with our clients. We have some clients that have been with us for 20+ years. We provide ongoing annual reviews, weekly market commentaries, and monthly newsletters. We even reach out from time to time and check to see how you're doing. Our clients also get to hear from us every year on their birthday!
Our financial advisors take a highly dynamic approach to investment management. Our investment philosophy is the one that works for you and allows you to sleep at night. Our financial advisors will work with you to determine your risk tolerance, goals, and interests. We believe staying invested over the long-term is the most profitable strategy and will nurture you during periods of elevated stock market volatility to assure that you remain invested during market turbulence. We have sustainable (ESG) strategies for environmentally conscious clients, focused innovation strategies for fast paced clients with a stomach for wild market gyrations, and conservative laddered CD strategies for retirees. We aspire to serve as a comprehensive financial service for you and will be as flexible as possible to assure our financial strategies align with your interests.
Our financial advisors will have you complete a risk tolerance questionnaire before advising you or rendering any financial advice. Once our advisors have determined your tolerance for risk and time horizon, they will help you determine the proper asset allocation for your investment strategy. Asset allocation is your portfolio's breakdown of different investments. An example would be 59% bonds, 31% stocks, 10% alternative investments.
Once the client onboarding process is established, our financial advisors will sign your portfolio a benchmark such as the Russell 2000 index or S&P 500 to track and monitor your portfolio's performance. This will allow us to see if our strategies keep pace with the broader indexes over the long-term and assess the substance of our active investment management strategy.
We use National Financial Services as our custodian through our partnership with Advisor Group and Securities America. This allows us to provide local residents in Cleveland, Mississippi access to the same benefits offered by Wall Street. That's right, a partnership with BBP Financial Group, means getting to work with our institutional investment management partners on Wall Street and never having to leave Main Street Cleveland.
It depends. Any capital gains in an Individual account will be taxable during the year in which it was sold. We do have tax-aware portfolio management strategies for tax-sensitive investors. However, there are tax-deferred retirement account options that will allow you to defer taxes on contributions and capital gains to retirement. Examples of these types of accounts include 401(k)'s, traditional IRAs, Simple IRAs, and certain pension plans.
Our process is relatively simple. The first step is to book a 20-minute call.
BBP Financial Group facilitates 401(k) Rollovers in Cleveland, Mississippi. Once you leave your current job, you will typically have 60 days to get the account rolled over into an Individual Retirement Account. This will allow you to avoid any taxes or penalties associated with early disbursement. It's prudent to act swiftly and consult with your human resource department immediately upon termination or changing jobs to assure that they do not close the account and send you a check. This will trigger taxes and sometimes penalties. If you need to rollover your 401(k), please reach out to us using the button below.
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