Frequently Asked Questions
Why should I work with you? How are you different?
Treece Financial Group is different in several ways:
- We have a fiduciary duty to you to always put your interests first including a duty of loyalty and utmost care. (Many financial advisors do not have this fiduciary duty and have a lower “suitability” standard).
- We are holistic in that we are dedicated to all aspects of a client’s financial well-being, not just managing investments. This includes planning for major transitions like retirement, emergencies due to death or disability, end of life scenarios, cross- generational planning, analyzing “what if” scenarios, and so much more. Please see the “Success Stories” tab to see the real life history of how we have advocated for our clients.
- We are dually-licensed which means that we are supervised by our broker dealer, Cetera Advisors, and by FINRA, the financial regulatory authority. (Many investment advisors choose not to affiliate with a broker dealer and have less direct supervision and are generally responsible for their own compliance).
Who holds my assets? How do I know my money is in safe hands?
All assets are held at a third party custodian, most often Pershing LLC, which is part of the Bank of New York, Mellon. The custodian prepares tax documents and performance reports and provides online access to your account. We never take custody of your assets. For more information, please see the Cetera Advisors flyer about Pershing called “ Protecting Your Assets .”
What services do you offer?
Our services include:
- the preparation of financial plans using software such as Money Guide Pro
- portfolio reviews using Morningstar software to analyze your holdings
- investment advice and management
- personal trust services through Bok Financial
- Social Security analysis and recommendations
- stock option advice
- advice on “sudden money” such as an inheritance or legal settlement
- insurance and beneficiary reviews
- income planning
- end of life planning
- eldercare referrals and assistance
- referrals to many outside experts, and
- almost anything connected to your financial well-being, including just giving a second opinion on your investments or current financial plan.
We do not give tax or legal advice, but we have many established relationships with outstanding attorneys and accountants.
What are your qualifications, experience, and your educational and professional background?
David Treece has been in the financial services industry for over 20 years, and Treece Financial Group has been at its current location for ten years. David Treece has several securities registrations (Series 6, 65, 62, 63 and 22) and also life, health and annuity insurance licenses. Treece is an Accredited Investment Fiduciary (AIF), and has an MBA from the University of Michigan, Ann Arbor. He has been involved in the South Florida community for the past 25 years and has been widely featured in the media for his financial services and community work.
Please describe your typical client.
We specialize in retirement planning and most of our clients are saving for retirement, close to retiring, or already in retirement. We have many married couples or couples who are in a domestic partnership. We also have many clients who are single, including many who are older and alone, and we pride ourselves in being able to offer high levels of service to these clients. We have a strong relationship with the LGBT community in South Florida. Our clients come from more than 20 different countries and a wide variety of backgrounds. David Treece and his executive assistant, Marcela Cid, are both fluent in Spanish.
How do you get paid? What are your charges?
We are fee-based and are generally compensated by the assets we have under management. These fees vary based on the size of the account and the specific money management, but our fees are very competitive, fully disclosed, and mutually agreed upon. We work to make sure that our clients are getting value for the fees charged. The benefits of an ongoing fee-based relationship include:
- Regular, personalized communication
- Regular review meetings once or more per year
- Quarterly performance reports
- Professional guidance on investments and all financial matters
- Greater transparency
- A more disciplined approach to investing
- A mutual incentive: we are genuinely motivated to grow your portfolio and preserve your wealth because it is in our best interest, too.
- Potential tax benefits---fees for advisory accounts are generally deductible against your federal income taxes
We may also charge for the preparation of a financial plan, for providing advice on 401k plans, and we may also receive a commission on insurance products. We often make referrals to other professionals (insurance agents, attorneys, accountants, etc.) but we never receive any compensation from these referrals. As part of our fiduciary duty, we assiduously avoid conflicts of interest, and any such possible conflicts must be fully disclosed to the client.
Do you have a minimum account size?
Many of the programs we use have minimum account sizes of $25,000 or $50,000. Others have minimums of $100,000. There is no minimum account size for the preparation of a financial plan.