TD Ameritrade Institutional (TDAI) is the main custodian used to house client assets. TDAI provides custodial services to over 6,000 Registered Investment Advisors, including Keystone Wealth Management, and provides trading and investing services to over 11 million client accounts with assets totaling over $1 Trillion. Innovation has been a hallmark of TDAI for over 40 years. They were the first firm to execute an online trade in 1994, the first in the industry to guarantee a trade execution in 10 seconds and the first to offer a trading platform via a mobile device. More recently, TDAI has rolled out VeoOne, their highly integrated and scalable online platform for Registered Investment Advisors to monitor, manage and analyze client portfolios. In addition, their award-winning iRebal program sets the industry standard for account rebalancing and trading programs. All of this innovation allows small, independent advisory firms like Keystone Wealth Management the same tools that only large institutional firms had access to just a few years ago. Click on the links below to learn more about the benefits of VeoOne and iRebal:
https://www.tdainstitutional.com/offerings/technology-platforms/irebal.html
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Advyzon is the award-winning portfolio management suite that Keystone Wealth and over 1,000 other Registered Investment Advisors have chosen to partner with for consolidated client reporting. Investing can become very complicated and overwhelming, so Advyzon consolidates all of the information in a client's portfolio and delivers it to them in a clear and concise manner. For clients that desire only the basics when reviewing their portfolios, Advyzon offers an intuitive online portal for account data, custodial statements and tax documents. Clients who desire more detailed information will not be disappointed. Advyzon offers information on allocation as a complete portfolio or account by account, account activity, customized date ranges and performance versus benchmarks. All of this information is also available to clients via their mobile app. For many clients, Advyzon is the only source they will utilize to track the progress of their investment portfolios. To see a demonstration of the client portal, please go to the online access section of this website (Resources, Online Account Access).
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Many advisors focus almost exclusively on performance, and it's easy to lose track of a client's objectives and risk tolerance in doing so. Gauging a client's risk is one of the most difficult tasks an advisor will undertake, as it can change not only with market fluctuations, but also with life circumstances that may have nothing to do with finances. Riskalyze strives to take the guesswork out of quantifying a client's risk tolerance. Read below to learn about the development of this industry-altering solution:
https://cdn2.hubspot.net/hubfs/2258134/PDF%20Content/Core/application-of-preference-measurement.pdf
This video shows how Riskalyze works and how it can benefit clients:
https://vimeo.com/riskalyze/review/188361232/8901561e23
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If you fail to plan, you plan to fail.
-Benjamin Franklin
Many investors (and some advisors, for that matter) are good savers, but not necessarily good planners. While the two may sound synonymous, they are quite different. Money Guide Pro from Envestnet is a robust program that we regularly utilize to help clients develop a "roadmap" of not only how much they need to save to achieve their goals, but also how much they can spend once that saving goal has been accomplished. This analysis is supported by Monte Carlo simulations for every client scenario. In the past, advisors used a fixed growth rate to calculate whether a client would have enough money to meet their objective within a desired timeframe. However, as we all know, investment markets don't return the same amount year-in and year-out. Monte Carlo simulations look at how a particular scenario would have performed across 1000 historical situations. These simulations consider the fluctuations of returns and the timing of losses to determine whether a plan is robust enough to be successful. Having your plan pass the Monte Carlo test is a harder feat than the traditional method, but prudence dictates such extra effort. If you'd like to learn more about the benefits of Monte Carlo simulations in retirement planning and why this program focuses not only on the accumulation of wealth, but also on the distribution of that wealth, read the following from Moody's Analytics:
https://www.moodysanalytics.com/-/media/whitepaper/2014/model-risk-in-retirement-planning.pdf
The following video will walk you through what a retirement calculation from Money Guide Pro looks like:
While many of Keystone Wealth Management’s professional partnerships involve programs to assist with the management of client assets, Entreda works in a more indirect way to protect client non-public personal information from being stolen. Entreda's main sectors of focus are financial professionals and the highly-regulated healthcare industry. Their software identifies security risks to a network, fixes those issues and provides ongoing protection, including real-time auto-remediation of any non-compliance issues that are detected, continuous network vulnerability and automated penetration tests, adaptive email phishing campaigns and assessment of risk posed by third-party vendors and other business partners. Though no cybersecurity solution can guarantee absolute success, Entreda brings over 100 years of combined experience in cybersecurity technology and is a great partner to secure vital client information for Keystone Wealth Management.
Social Security Analysis
According to the Social Security Administration, Social Security replaces approximately 38% of past earnings (2019 data). Clearly, Social Security Is a vital income source for most retirees. The question often arises, "Which Social Security strategy will give me the most money?" There are software programs that analyze this, though they are typically glorified spreadsheets that look at Social Security in isolation. They tend to look at a client's early, normal and late benefits and the cumulative benefit they will receive over time. Since benefits are higher the later you elect them, these programs almost always recommend delayed benefits. This fails to consider the impact of higher withdrawal rates from your investment accounts in the years between retirement and when you start to receive Social Security benefits. We have scoured the programs available on the market that evaluate Social Security filing strategy and have not found one that approaches this in a holistic way. Therefore, we have developed a proprietary method for evaluating your Social Security options within the context of your investment accounts. Once we complete this analysis we can enter this strategy into your overall retirement plan to determine which option may be best for you.
Morningstar is an independent third-party investment research firm with over 5200 employees in 27 countries. They provide Keystone Wealth Management with the quantitative and qualitative data on investment options which allows us to keep up with the ever-changing investment landscape. Through Morningstar's Advisor Workstation, we are able to quickly analyze a client's portfolio for risk, diversification, expenses and performance in a client-friendly format. Salespeople rely on stories while professionals rely on data. Morningstar is our main hub to gather pertinent data on investment options.
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Investment Companies
Keystone Wealth leverages a wide variety of investment companies that specialize in various areas of financial management to help us deliver what we believe to be the best solutions for clients in their own unique financial situations. These investment companies are an invaluable resource to us as we navigate changes in the market landscape, new product innovations or changes to existing products, client seminars and product solutions.
Coordination with Other Professionals
We regularly coordinate with other members of a client's financial team. This commonly includes consultation with CPAs and attorneys. We can also make referrals to local professionals who specialize in these areas of expertise.
This website is intended for informational purposes only. Despite our efforts to be accurate, these pages may contain errors and information that is no longer current. The information published on this website is subject to change on a regular basis without notice. This website should not be regarded as a complete analysis of the subjects discussed.