Frequently Asked Questions
What does Prio Wealth do for me as a client?
We believe the foundation of a great client relationship is having the right conversations about what really matters. Prio Wealth helps guide our clients in identifying and prioritizing what they are investing for. Our team of Wealth Advisors and specialists creates a comprehensive, customized and clear financial snapshot to address your financial priorities and life goals. This financial snapshot then informs an optimal asset allocation and investment strategy for your financial assets. Our team monitors your portfolio, manages investment changes and communicates regularly with you to review your personal and financial situation. Our goal is to provide you with clarity, confidence, and control of your financial life.
Can you describe Prio Wealth’s history and company values?
Founded in Boston thirty-four years ago, we have discovered that life’s priorities drive monetary decisions. Our clients’ values and views on finances and wealth are what’s central to our financial advisory solutions and investment strategies
Prio Wealth is proudly an independent partnership. We are a multi-disciplinary group of credentialed and experienced professionals with diverse skills to ensure that you get the most valuable advice when you need it the most. We pride ourselves on acting with integrity, respect and objectivity. We always put our clients’ interests and priorities first.
What type of client does Prio Wealth typically serve?
Many of Prio Wealth’s clients are individuals and families we’ve worked with for years, and even decades. Current clients may have earned their wealth as professionals, business owners and entrepreneurs. In some cases, our clients came by their money through inheritance and rely upon our stewardship and wealth advisory. We proudly work with multiple generations of the same family, offering wealth management services that encompass the well-being of parents, children and grandchildren as well as their specific philanthropic endeavors. This is a testament to the strong relationships we build with our clients based on their long-term priorities and values.
Beyond that, our clients are individuals, trusts, charitable trusts, retirement plans, IRAs, foundations, endowments and other institutions.
Who answers questions about my portfolio?
At Prio Wealth you will have a specific team dedicated to addressing your financial questions and needs. While all Advisors have extensive experience in investment management and wealth planning, we frequently consult with our investment and planning specialists to address a specific client’s needs. Any questions you might have will be addressed thoroughly and promptly by our client-focused employees.
Can Prio Wealth work with my current accounts and holdings?
Yes. Prio invests in individual securities, which enables us to manage your legacy positions. We can also recommend tax-efficient strategies to reallocate from current holdings into more suitable target holdings if applicable. Our team can recommend a plan to consolidate your various accounts to simplify your financial affairs.
What is a fiduciary and what does that ultimately mean to a client and their experience?
A fiduciary is required by law to provide a duty of loyalty and care, which means that the advisor must put their client’s interests above their own. Registered investment advisors (“RIAs”) have a fiduciary duty to clients, while broker-dealers have to meet the less-stringent suitability standard which doesn’t require putting the client’s interests ahead of their own. There is quite a difference between these types of advisors, and one that should not be taken lightly when deciding with whom to work. Importantly, an RIA is not motivated by commissions and must do their best to make sure investment advice is made using accurate and complete information.
How is Prio Wealth compensated?
Prio Wealth is a 100% fee-only adviser. This means Prio’s only compensation from you is a professional fee based on the scope of services provided and the size and complexity of your portfolio. Our fees are based on a percentage of the market value of the assets under management in your portfolio. If the value of your portfolio increases, so does our fee. If the portfolio value declines, our fee declines, so our interests are aligned.
How do I set up an initial appointment?
Contact us by calling 617-224-1900. You may also email any one of us personally or reach out to email@example.com. We will put you in touch with one of our Wealth Advisors for a brief preliminary conversation to discuss your unique situation and needs. After this, our next step is normally to schedule an in-depth meeting at time convenient to you.
If you were introduced to Prio by a friend or family member, please let us know. The greatest compliment a current client can provide is the introduction of a friend or family member, so we want to thank them.
Disclaimer: Financial planning and investment advisory services are offered through Prio Wealth, L.P. (“Prio Wealth”, the “Firm” or “us/our”). Additional information about our services, account minimums, fees, potential conflicts of interests, etc. can be found in the Firms Form ADV Part 2A and Part 3 (Form CRS) which can be found on our website at www.priowealth.com or on the SEC’s website at www.advisorinfo.sec.gov