Q: Is Boulevard Wealth Management, Inc. (dba BOULEVARD) a fiduciary?
Yes. As BOULEVARD (“the firm”) delivers advisory services as a financial planning firm organized under the 1940 Investment Advisors Act, as a Registered Investment Advisor (RIA) – independent of any broker-dealer, custodian or other financial institution. Further, BOULEVARD does not affiliate with, or receive revenue- sharing from, any third parties. The firm only represents its clients to the various intermediaries involved with developing, implementing and managing a financial planning process.
For more about advisory firm and professional types, please read the whitepaper “Finding Your Fiduciary” available at: www.boulevardwealth.com/fiduciary
Q: Is BOULEVARD a brokerage, or does it employ brokerage professionals?
BOULEVARD is an independent wealth management firm, not a brokerage. However, the firm handles multiple brokerage relationships on behalf of its clients. Although some of the advisory professionals are former brokers, no advisory professional at BOULEVARD carries a brokerage license. All advice delivery is provided by a professional carrying advanced financial designations, including CFP® and CFA. This approach to advice also meets SEC and state-level regulatory compliance requirements.
For more about RIA’s as fiduciaries, visit: https://www.sec.gov/divisions/investment/advoverview.htm
Q: Is BOULEVARD a custodian?
No. BOULEVARD does not take custody of its clients' assets. The firm relies upon at least one primary, third-party custodian to house client assets, manage operations, and clear trades. BOULEVARD also relies on its primary custodian to facilitate fee billing from client accounts, so as not to inadvertently become a custodian. While BOULEVARD may change its primary custodian and may use multiple custodians at once, the following primary custodial relationship is currently in place: TD Ameritrade Institutional.
Q: How is BOULEVARD unique?
BOULEVARD is a full-service wealth management firm based in Eden Prairie, Minnesota. The firm is privately-owned by Christian financial professionals, and faith-based in its approach to financial planning. Started during the 2008 financial crisis, BOULEVARD maintains active investment advisory registrations and is a licensed insurance agency. The firm is best known for managing aggregate portfolio risk for investors with Mean Variance Optimization (MVO) techniques and portfolio models originated in 2006. Since 2013, BOULEVARD has offered comprehensive financial planning based on The Life Cycle of Wealth™ - a life planning framework for client-advisor relationships.
For more about The Life Cycle of Wealth™, please visit www.boulevardwealth.com/lifecycle.
Q: What are the services offered and costs involved?
There are three primary types of services, available together or separately:
1. Strategic Advisory Services with MoneyWorks™
These financial planning projects are completed for a pre-determined fee. All fee estimates are provided prior to engagement. Customized assessments are offered, and major risk factors are managed according to your values and goals. You can review your plans regularly through ongoing review meetings, and via the MoneyWorks™ Client Portal.
2. Portfolio Advisory Services
BOULEVARD is an asset aggregation firm. Portfolio Advisory Services allows you to see the entirety of your holdings in one view and make decisions accordingly. For investment management clients, BOULEVARD will pursue its 3-part portfolio process: www.boulevardwealth.com/portfolio-process. These services are billed as a quarterly
fee on assets under management, according to the most current fee schedule in our Form ADV.
3. Insurance Advisory Services
BOULEVARD Insurance Advisory Services addresses the picture of your financial life from a risk management view. Through its independent agency, BOULEVARD clients undergo internal pre-underwriting prior to application with any of over 50 insurance carriers available for Life, Disability, and/or Long-term Care Insurance coverage.
Please review the CLIENT SERVICE MENU for complete information about available Client Services
Q: Who are BOULEVARD's client families?
BOULEVARD clients are most frequently families with complex situations and/or life transitions. Common examples include: job changes, retirement, estate settlements, liquidity events, and other significant financial changes. They recognize certain issues in their planning, and desire to delegate some financial management responsibility to professionals. Although each client family and engagement is unique, the current fee schedule is separated between non-accredited and accredited investors. The minimum annual fee for all Strategic Advisory Services is $1,500 for non-accredited families and $2,500 for accredited families. The minimum annual fees for Portfolio Advisory Services are $1,250 for non-accredited families and $12,500 for accredited families.
Q: How do I engage BOULEVARD? What about the planning process?
BOULEVARD offers prospective clients a comfortable discovery process to examine life goals from a financial perspective. A no-fee discovery meeting is available for all prospective clients. If a planning engagement results, financial data is released to BOULEVARD. The firm will complete a comprehensive analysis and develop recommendations across 6 areas: cash flow, taxes, retirement, investments, insurance, and estate planning. A strategy meeting is then held to review recommendations and create a partnership in implementing and managing the plan. All prospective clients receive a copy BOULEVARD’s Form ADV, and planning assessments at the beginning of the discovery process. If a client/advisor relationship is established, a client agreement is executed.
For more information, please reference the BOULEVARD Form ADV, which outlines the firm’s registrations and business practices in more detail.