Q: What makes Shore to Summit different?
A: We believe one of the many things that makes Shore to Summit different is the fact that the core of advisors on the team Scott, Ben and Kelly have worked together for over twenty years. The consistency of these seasoned professionals gives our clients the added comfort of knowing they are working with a competent team who will be around for many years to come. Furthermore, we have surrounded ourselves with a truly diverse and talented team that should make any client or potential client feel comfortable working with us. Finally, having offices in both Annapolis, MD and Bozeman, MT makes us more accessible than most other advisory practices.
Q: What are your qualifications?
A: Scott L. Brown has been a registered wealth management advisor since 1994 and a branch manager since 1998. He holds his Series 7,9,10,24,63,65 as well as his Life, Health and Long-Term Care Insurance Licenses. He has also earned his CFP®, CIMA®, CRPC® and CFS industry recognized designations. He was also recognized as a Barron’s Top 1,200 Advisor for 3 consecutive years in 2011, 2012, and 2013.* Benjamin D. Spiker has been a registered wealth management advisor since 1998. He holds his Series 7, 63, 65, 24 as well as his Life, Health and Long-Term Care Insurance Licenses. He has also earned his CFP® and CRPC® industry recognized designations. Ben has been recognized as a Five Star Wealth Manager for 2013, 2015, 2019, and most recently for 2020.**
Q: What types of clients do you specialize in?
A: Our wide-ranging client base consists of corporate executives, business owners and other high-net-worth individuals, couples and families. We also work closely with physicians, dentists, attorneys and other personal service professionals.
Q: How will our relationship work?
A: At Shore to Summit Wealth Management (STSWM) we take client service very seriously. Our relationship is an advisor-client relationship in which both parties should expect honestly, trust, full-disclosure and prompt and timely responses to requests. Our relationships are built on comprehensive planning as Scott and Ben are both CFP®’s and Scott, Kelly and Ben are all CRPC®’s. We review a minimum of four topics with each client every year and in most cases several times per year. These include but are not limited to; a balance sheet and cash flow statement review, a goals and objectives review, a risk profile review, a basic estate planning review, an asset allocation review, a performance review and discussions regarding our economic and capital market outlook and how that impacts changes to your portfolio and overall investment strategy. You can also expect timely and informative e-mails, mailings and surveys.
Q: How much contact do you have with your clients?
A: Shore to Summit Wealth Management employs a robust service model that entails a minimum of four scheduled meetings or calls annually. In addition to this, our staff will contact you periodically to “check-in” or to see if there is anything you may need. In addition, any client that calls in and needs to speak with their primary advisor can expect to be connected within 24 hours if not immediately! In addition to this, we communicate electronically with all of our clients via email and through LinkedIn and our Facebook page.
Q: Will I be working only with you or with a team?
A: Each client has a lead relationship with one of the team's financial advisors as well as one of the team’s relationship managers. In support of those direct relationships, we apply as a team our complementary skill sets and collective wisdom that have developed over the years. We believe that we can address the many levels of complexity in your financial life.
Q: How do you get paid?
A: Advisors can use a variety of fee structures. To keep it simple and avoid conflicts of interest, we focus primarily on a fee-based relationship. That is approximately 93% of our revenue is derived from a flat percentage fee charged to our clients assets that we manage. However, there are certain products or securities that may involve a commission to STSWM. As such, we will always fully disclose our fees prior to clients making any investment with STSWM. We also provide all of our clients with an annual fee and service disclosure letter in the first quarter of each year.
Q: What are my all-in costs?
A: All of your costs are disclosed at the time of investment and in our annual fee disclosure letter. Some products may have an additional management fee paid directly to the investment manager that is separate from the STSWM wealth management advisory fee. These are all fully disclosed and may range from .04% to in excess of 1%.
Q: What hours are you open?
A: Our offices are open from 9am until 6pm Eastern Standard Time.
*The Barron’s Top 1,200 Advisors rankings are based on data provided by thousands of advisors. Factors included in the rankings were assets under management, revenue produced for the firm, regulatory record, length of service, quality of practice and client retention.
**The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Actively licensed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com. 1,865 Baltimore area wealth managers were considered for the award; 265 (14 percent of candidates) were named 2019 Five Star Wealth Managers. 2018: 1,759 considered, 232 winners; 2017: 1,093 considered, 355 winners; 2016: 1,215 considered, 356 winners; 2015: 1,749 considered, 412 winners; 2014: 1,484 considered, 395 winners; 2013: 1,490 considered, 448 winners; 2012: 1,470 considered, 262 winners.
The fees for advisory programs are asset-based and assessed quarterly in advance. There may be a minimum fee to maintain this type of account. Fees include advisory services, performance measurement, transaction costs, custody services, and trading. These fees do not cover the fees and expenses of any underlying exchange traded fund (ETF), closed-end funds, or mutual funds in the portfolio. Advisory accounts are not designed for excessively traded or inactive accounts and may not be suitable for all investors. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services, including fees and expenses. The minimum account size for these programs will vary.
Wells Fargo Advisors Financial Network and Shore to Summit Wealth Management are not legal or tax advisors. You should consult with your attorney, accountant and/or estate planner before taking any action.