86 Baker Avenue Extension, Suite 310
Concord, MA 01742
John W. Ohl – President, Founder and Chief Compliance Officer
James C. Catacchio – Executive Vice President and Chief Operations Officer
1. Please describe for our clientsthe foundation that Bay Colony Advisors built your investing philosophies on?
We believe in customizing the client portfolio around the client’s priorities of tax efficiency, whether they desire to invest domestic or global, the client’s risk tolerance and time frame to invest, withdrawal requirements, and their philosophy of value versus growth stock investing. After determining the client priorities, we construct the portfolio to meet their needs. We design custom portfolios which are unique to each client.
2. Please help our Clients understand your philosophy regarding retirement planning and exit strategies?
We believe it is important to construct a comprehensive retirement plan that will determine how long the retirement assets can provide retirement income based on the composition of the portfolio, client annual income needs, and available investment capital. Should a client sell a business we could provide financial planning with our Emoney planning service. The transition from working to retirement is an emotional one. We try to ensure that our clients feel confident in recreating their paycheck as they make the transition to enjoying retirement.
3. Share with our clients a challengingclient you’ve worked with, how you helped and the end result?
An example was a client who could not prioritize what they wanted from their relationship with us and the result is we did not see a fit of engaging in managing the client assets, after completing a comprehensive financial plan. It is important for us to feel that all parties are on the same page regarding strategy, investments, goals, etc. If all parties do not feel comfortable, we feel it would be best to not enter a relationship.
4. Please tell us the top questions our Clients should ask when searching for a Wealth Manager/Financial Advisor?
What is the experience of the advisor as a wealth manager? Does the Advisor have the right platform to service the client in a truly unbiased manner without clients of interest? The advisor should be fee-only, and not be affiliated with a broker-dealer, insurance company, or bank to serve the client’s best interest. The firm should have a team structure, business continuity plan and at least 100 million assets under management and the necessary infrastructure in place to manage client accounts.
5. Since most of our clients are over 50 and high net worth, please tell our Clients what differentiates Bay Colony Advisors from other Wealth Managers/Financial Advisors?
At Bay Colony Advisors, we take a planning first approach to be certain we understand all the important issues that a client faces in the future before designing a financial plan or investment portfolio. We feel our process insures the client will be pleased with the final plan or portfolio design that is customized to their situation.
6. Please explainhow your advisorsreceive compensation?
Our compensation is fee-based. We are paid on a percentage of assets under management or charge a financial planning fee of $ 200 an hour should clients only want a financial plan.
7. Tell our clients where Bay Colony Advisors clients are normally procured?
We are fortunate to receive referrals from accountants, attorneys, and from our existing clients.
8. Share with our clients the average client retention rate of your Advisors?
We retain approximately 95% of our clients many who have worked with us for decades. Our longest standing relationship dates to the mid 1980’s.