Question 1

Who is your typical client?

Accepted Answer

Our typical clietn is someone age 50 plus with $1 million or more of investable financial assets. In addition, you are likely a good fit if you: Prefer to delegate to an expert so you can enjoy retirement without the stress of money. Want to know your spouse will be in not just good, but great hands Value having a "certainty of outcome" over "beating the market" We serve over 150 families and their employers vary. However, here is a list of major employers of clients we serve: Dominion Virginia Power Huntington Ingles Industries Sentara Healthcare Riverside Regional Medical Center Ferguson Enterprises Capital One Financial Group

Question 2

What is a fee-only financial planner?

Accepted Answer

A fee-only financial planner is a registered investment advisor and fiduciary who is required by law to always put client interests first. Fee-only financial advisors do not receive any compensation or commissions for the sale of products. Fee-only planners have less conflicts of interest and often provide more comprehensive advice than other types of financial advisors.   The National Association of Personal Financial Advisors (NAPFA) is the most recognized professional association for fee-only financial planners. NAPFA financial advisors are frequently quoted by the financial media due to their perceived competence and form of compensation, which reduces conflicts of interest.   Fee-only advisors are different because they don't receive commissions and must always act as a fiduciary to clients. Less than 5% of financial advisors are fee-only.

Question 3

What are your qualifications to help me with my finances?

Accepted Answer

At Covenant Wealth Advisors, clients work with a team of advisors with the credentials and experience you deserve. Your team will include a Certified Financial Planner, a CPA, and an investment expert. We work together as a team to provide you trusted, consistent advice and guidance. We're passionate about what we do. We're good at what we do.   Mark Fonville: Senior Financial Advisor Certified Financial Planner™ (CFP®) BS in Finance from Virginia Tech 18 years of financial experience Has advised over 1,000 individuals on financial matters Has trained over 3,000 financial advisors on investment strategy Scott Hurt: Senior Financial Advisor Certified Financial Planner™ (CFP®) Certified Public Accountant (CPA) 15 years of financial experience Has advised over 300 individuals on financial matters Rob Smith: Senior Financial Advisor Certified Financial Planner™ (CFP®) MBA from The College of William and Mary B.S. from the U.S Naval Academy   Katherine Fonville: Original founder of Covenant Wealth Advisors 15 years of financial experience BA in Marketing from James Madison University

Question 4

How are you paid?

Accepted Answer

Covenant Wealth Advisors is a Registered Investment Advisor. We work on a fee-only basis and do not sell commission-based products. This gives us the freedom to develop your financial plan and investment strategy without outside influence.   You may view our fees here.   Financial Plannning + Investment Management   Our management fee is calculated as a percentage of the value of a client’s account(s) per year.* We use a standardized scale to generate this percentage fee, which ranges from 0.40% to 1.25% depending upon your combined account values under management.   Financial Planning   For clients who just want a financial plan without investment management, we typically charge between $1,500 to $4,500 depending upon your situation. Fees are charged hourly or via a fixed fee, depending upon client needs. We do not receive commissions or payments from product companies.   *Investment Management Fees are payable quarterly and deducted automatically from the portfolio.

Question 5

What are the benefits of working with Covenant Wealth Advisors?

Accepted Answer

We simplify our clients’ financial lives. We know that time is your most valuable commodity, which is why we focus on Total Wealth Management, a holistic approach to financial planning and investment management.   Whether it is planning for retirement, managing investments, or planning for college, you can rest easy knowing that we’ll ensure your goals are met.   We’ve also designed programs that target clients’ specific needs. Whether you are a high income earner seeking advice to reduce taxes and save more, or you are nearing retirement and you need help creating reliable income in retirement, we can help.

Question 6

Do you have an investment minimum?

Accepted Answer

Our typical investment minimum is $1 million. However, we reserve the right to waive this minimum depending upon the situation.

Question 7

Who holds my money?

Accepted Answer

Our clients’ funds are typically custodied with either Charles Schwab or Fidelity. For many clients, this provides reassurance and a system of checks and balances, as their money is not physically held by the same company who advises on how to invest it.

Question 8

How do I get started?

Accepted Answer

Click here to fill out our secure online contact form. You may also call us at 1-888-320-7400. We have offices in Richmond and Williamsburg, VA or can meet you via video conference. You’ll receive an email from one of our financial advisors to schedule your free initial consultation. There is no obligation. We just want to determine if we’re a good match for your needs.

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Hours of Operation:

WILLIAMSBURG VA LOCATION

RICHMOND VA LOCATION