Merino Wealth

 

When do I need a fee-only financial advisor?

We believe that everyone could benefit from some form of financial planning, but at Merino Wealth we find that we do our best work for clients who have the ability to allocate at least $1,500/mo. towards their financial goals or have $100K in investable assets.  

We also find that big life transitions such as starting a new job, divorce, marriage, having a child, receiving a promotion, a relocation, or a financial windfall can be great opportunities to engage in professional financial advice. 

 

What do you offer that other advisors don’t?

We take a down to earth approach to help our clients reach their financial possibilities.  Our process focuses on investing in equality by helping those individuals who have not traditionally been embraced by the financial services industry (such as women, LGBTQ, individuals of color).  

As a fee-only financial advisory firm, we have the freedom to choose the financial products that grow your wealth; we do not receive any kickbacks or commissions.

Our team utilizes decades of experience along with advanced financial certifications including CFP® and CIMA®:   to provide personalized service and planning that meets your individual needs and goals.  We have an affinity for high-quality advice in traditional financial planning and asset management as well as detailed cash flow expertise and ESG (Environmental, Social, Governance) investing.

Accounts held through Merino Wealth are not proprietary so we are able to offer a level of investing that isn’t available through many of our large name competitors.  We also take a team approach to offer greater resources than an individual advisor. We think it’s the best of both worlds!

 

How does financial planning work?

We use a 6 step process to determine your individual needs to help you reach your personal goals.  For more details see Financial Planning.

 

How long is my commitment?

We do our best work when it’s a long term engagement, so we’d love to work with you on an on-going basis.  A number of our clients have been with us for 10 years or more!  

Comprehensive planning means figuring out your goals, both short and long term, and working toward them together.  We intend to commit to you for the long term, but you will need to renew our services annually to continue the relationship.  It’s our goal to earn this privilege for years to come.

NOTE:  We do not currently offer one-time financial planning or project-based work.

 

What if I want to cancel my services?

When you pay your financial planning fee, you’re committing to at least one year with Merino Wealth. If at any time you don’t feel that Merino Wealth is a good fit for you, you are free and encouraged to leave.

 

Are you a fiduciary? Jessica Merino is a CFP® (Certified Financial Planner) and a fiduciary. The fiduciary standard of care requires that a financial adviser act solely in the client’s best interest when offering personalized financial advice. Learn more about our team here.

 

How do I move my accounts to Merino Wealth?

Moving your money can feel overwhelming, but at Merino Wealth it’s our goal to make this easy for you.  Our team will review your current assets and determine the specific steps needed for the type of accounts that you have.  We’ll prepare the appropriate paperwork and will have you review and sign off on these documents during your In-Person Consultation.  

If you have existing brokerage accounts we’ll electronically transfer the investments “in-kind” to your new account at Merino Wealth.  

If we’re initiating a rollover from a previous employer we’ll navigate the plan administrator’s process and will hold your hand through completion.

Cash and stock into your accounts will be moved electronically or through a physical deposits.  (NOTE: We accept checks, but we do not accept physical cash.)

It’s as simple as that!

 

Do I need to live in Chicago to work with Merino Wealth?

No!  We can meet you in our Chicago office, but if you don’t live in the area or can’t make it into the office, we can meet with you over Google Meet.

 

Where do we meet?

You can come to our Chicago office or we can meet you virtually through Google Meet.  If you have a physical impairment or a physical disability, please let us know and we’ll try our best to accommodate your particular needs.

 

Where does my money go? 

Most of our accounts are held at Schwab, which is a subsidiary of the Bank of New York Mellon Corporation, but some accounts are held at TD Ameritrade and other accounts are held through the product companies directly like an insurance company, 529 providers, etc.  

 

How will my money be invested?

As an Independent Financial Advisory practice, we have thousands of different investment options and will diligently choose the options that make the most sense for your personal financial situation.  The majority of our clients have fee-based accounts held at Schwab invested in low cost and ESG mutual funds and ETFs.  

Note:  We do not have any proprietary products, nor do we receive additional incentives to recommend one company over another.

 

How do I access my accounts? 

You will be given online access to all of your accounts held with Merino Wealth management so that you can view your accounts 24/7. Check out the Client Account Center here.

We can set up ongoing instructions to move money into or out of your account depending on your particular situation.  During your meetings, we’ll review your accounts in detail and make adjusts to investments or deposits.

If you need to move money on a one off basis, we’re available during normal business hours to make these transfers as smooth as possible.  Note:  Please allow 24-48 hours for minor updates to go into effect.  For large money movement, we recommend that you allow one week for the request to be fully processed.

 

What is the annual financial planning fee?

We offer Comprehensive and Advanced Comprehensive Planning. See our Pricing page for more details.

 

What are the asset management fees?

We provide hands-on asset management services on accounts held at Merino Wealth.  Most of your accounts here will be held in Fee-based accounts with the following fee schedule:

• 1.5% annual management fee*:  Accounts valued between $10,000-$99,999
• 1.25% annual management fee*:  Accounts valued between $100,000-$249,999
• 1.25% annual management fee*:  Accounts over $250,000 

*All asset management fees are billed quarterly, and the fees are paid directly out of the account.

Note:  This fee is in addition to your annual financial planning fee.

See our Pricing page for more details (link to Services - Pricing)

 

How do I pay my annual fee? 

Your annual fee can be paid directly from your brokerage account, via credit or debit card, or through Apple Pay or Google Pay.

 

How do I schedule a meeting? 

If you're a new client, in the top right-hand corner of the website, click the "Schedule Your Consultation" link to fill out the required form and then you will be prompted to schedule your meeting. For existing clients, click the "Client Center" link at the top of the website and choose the "Online Scheduling" link.

 

What information do you need from me? 

When signing up to become a Merino Wealth client we will need basic account opening info (the same type of information that you would provide when opening up a bank account), such as full name, date of birth, social security number and such. In order for us to provide you with financial planning recommendations, we also require documents such a recent bank statements, credit card and loan statements, investment account statements, a recent tax return and so forth. 

 

What if I need to cancel my meeting? 

We require 48 hours notice when canceling your scheduled appointment. If you booked your appointment via Calendly, you can cancel and/or reschedule your appointment via your initial appointment confirmation notification email. You can also contact us directly by email or phone to cancel your appointment. 

 

How do I access my money? 

We require verbal confirmation when requesting money from your accounts and recommend that you request money at least one week prior to the required date that you are in need of your money.

 

How do I get a hold of you? 

You can contact us by phone (312-809-1109) or by email.