We realize you are inundated with mailings, emails and other communications which can be overwhelming and confusion. With that understanding, this section is devoted to untangle the web of confusion. Believe us, most companies hate the mailings as much as you do. Many have implemented the ability for you to receive them electronically. Regardless of how you receive your information, they are required to provide you statements either monthly, quarterly or annually.
Integrity First Planners, Inc. (IFP) is a registered investment advisor in the state of Ohio. IFP has the ability, through a written contract to charge fees for advisory services which include verbal advice and written advice. IFP also may enter into agreements with individuals and entities to actively manage money for a fee (usually charged as a percentage of the assets under management). In this arrangement, IFP has an incentive for account values to appreciate as that will increase the income of IFP as well. IFP does not directly posses any client monies. We do not have the ability to add or withdraw monies from anyone’s accounts for our benefit. Monies can only be added or withdrawn from/to the registered account owner. The state of Ohio is responsible for regulating the business practices of IFP. IFP is required to provide disclosures to clients which are available upon request. The most recent disclosures are provided on this website under ‘Disclosures’.
Triad Advisors is a broker dealer. Triad Advisors is a member of FINRA and SIPC. Kenneth P Butze, Jr. is an registered principal with Triad. Triad provides Mr. Butze with various services and business relationships to assist in his business practices. For example, some products are sold on a commission basis, such as 529 college savings plans, alternative investments such as REITS, variable annuities among others. Triad has a responsibility to monitor the business practices of Mr. Butze to protect the interest of the firm, Mr. Butze and clients. Each investment client of Mr. Butze is required to complete a Triad Advisors account form which will document the clients personal information and financial information. This information is not shared with the public. Based on current laws, we (our industry) is obligated to know our clients and with whom we conduct business. The information is also valuable in determining suitability for all our protection.
For example, if we have a client who completes the Triad application indicating the client is very risk adverse and we ‘sell’ the client a risky investment, Triad will question the transaction and request justification which could ultimately cancel the purchase. Conversely, if a client discloses a desire to purchase a risky investment and it is suitable at the time of purchase, the client will have little recourse if the investment result wasn’t as hoped.
CUSTODIANS – Custodians are companies where your money is actually located. When you opened your account, in addition to the paperwork required for IFP and Triad, you had to complete an account application with the custodian. Most likely this information was the exact same as was completed on the other two applications. Custodians, just like IFP and Triad are required to ‘know their client’ as well. Therefore, your relationship with the custodian is between you and them. Either IFP or Ken Butze may be listed as the representative or advisor, but this does not give IFP or Ken Butze the ability to take money from an account. The custodian may only distribute money to the account owner.
IFP and Ken Butze work with an number of custodians and many of you have accounts with several of them. When you consider each of these relationships you can begin to understand why so much paper is generated and how easily it can get confusing. Each of the custodians that we have relationships have websites and provide clients the ability to login to the account(s) directly. They also have client services telephone numbers which permit you to call them directly. If you ever have questions about your money, you can access these resources. Some of the custodians which our clients have accounts are: ING, Schwab, Community National Bank (CNB), AXA, Prudential, American Reality Capital, Phillips Edison, Icon Capital, Franklin Square, American Funds, John Hancock, Alliance Bernstein among others. Links to each of these websites are located on this site in the client account access tab. FYI, each website will likely have their own login or if you have never been to the site, you will need to register.
MORNINGSTAR – Morningstar is a subscription based provider of financial information. They are not an investment company, nor are they a custodian. Morningstar is a service that collects data about your accounts and puts it into a consolidated statement format. IFP will run either a monthly or quarterly report for each client. You will receive an email indicating that a new report has been generated, which will require you to login the Morningstar website to access. Also, Morningstar provides a communication portal. On a going forward basis, we will be using email communications less frequently in favor of using the Morningstar system. We believe this provides greater security and privacy for you. I
FP purchased a subscription for our benefit and your benefit to try to make your financial affairs less confusing. Most of Morningstar is automated, but some is manually inputted. We rely that the data is valid, but occasionally a glitch will occur which needs to be corrected. However, for a quick snap shot, we feel this system is among the best in the industry to consolidate all the various mailings you receive.