Item 1. Introduction
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Item 2. Relationships and Services
What investment services and advice can you provide me?
We provide investment advisory services to you where we charge a fee based on the value of your account(s). We review investments across all individual retirement accounts, taxable accounts, and employee retirement accounts. We will offer you advice on a regular basis, discuss your financial goals and objectives, and design with you an investment portfolio suitable and appropriate for you. Our investment recommendations are not limited to any specific product or service offered by a broker-dealer or insurance company and will generally include advice and recommendations regarding mutual funds and exchange traded funds. We may also advise certain clients on individual securities and legacy positions in certain circumstances. We also provide financial planning to individuals and consultative financial services to retirement plans.
After assets are invested, we help our clients monitor their investments and provide advice related to ongoing financial and investment needs. Client accounts are formally reviewed no less than annually. More frequent reviews of Client accounts may also be triggered by a change in your investment objectives; tax considerations; large deposits or withdrawals; large sales or purchases; or changes in economic climate.
The majority of our clients choose a management format that allows us to buy and sell investments in your account without your prior approval (a “discretionary relationship”), and in some circumstances we have clients that require advice, but the client decides what investments to buy and sell (a “non‐discretionary relationship”). Non-discretionary relationships may also be applicable in held-away accounts. Restrictions on the above discretionary authority are those set by the client on a case by case basis. Our account minimum for on-going advisory services I $250,000 for individual clients, and $1,000,000 for retirement plans. We may make exceptions to these minimums on a case-by-case basis.
We encourage you to ask our financial professionals these key questions about our investment services and accounts.
Item 3. Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
We provide investment advisory services based upon a Percentage of Assets Under Management fee, which depends on the dollar amount of your assets under management, ranging from .60% and 1.20%. We also provide separate financial planning services for a fixed fee, or hourly at $200-300/per hour. Fees are negotiable and are provided in your Investment Advisory Agreement. We are compensated solely by our clients and do not receive compensation or commissions from any other parties. We believe this method of compensation minimizes the conflicts-of-interest that are prevalent in the investment management industry. Generally, the more assets you have in the advisory account, including cash, the more you will pay us. We therefore have an incentive to increase the assets in your account in order to increase our fees. You pay our fee quarterly, in advance, regardless of whether we buy or sell securities within that quarter. Some accounts may have different payment schedules.
All brokerage commissions, stock transfer fees, and other similar charges incurred in connection with transactions for your account will be paid out of the assets in your account and are in addition to the investment management fees paid to us. You may also be required to pay, in addition to our fees, a proportionate share of any mutual fund’s fees.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
We encourage you to ask us any questions you may have regarding our fees or how cost from third parties such as custodians or mutual funds affect your account. For example, start a conversation by asking, “Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?”
Regency is a fee-only registered investment advisor, which means our only form of compensation is from investment management fees paid directly from our clients. We do not earn any commissions or any other payments from anyone else. Our financial professionals are compensated based upon an annual salary, along with bonuses tied to the amount of assets under management by those professionals. More detailed information, including fee schedules and conflicts and disclosures are available in our ADV Part 2A Firm Brochure, which is available at: https://adviserinfo.sec.gov/firm/summary/106990.
Item 4. Disciplinary History
Do you or your financial professionals have legal or disciplinary history?
No. We have no legal or disciplinary actions in our history as a registered investment advisor. We encourage you to visit Investor.gov/CRSfor a free and simple search tool to research any of our financial professionals.
In addition, feel free to ask:
Item 5. Additional Information
If you do have any concerns, please let us know by asking the following questions:
Since our May 14, 2020 Initial Client Relationship Summary, we amended Item 3 to reflect an increase in our financial planning fee.