Frequently Asked Questions
Are you a fiduciary?
Yes! As a fiduciary, I'm legally and ethically bound to prioritize the needs of my clients above my own. We believe this is the only way to serve clients, and it's why we eliminated conflicts of interest like commissions from the sale of insurance or investment products.
I don't have equity compensation. Can I still work with you?
Yes! UWM has specialized expertise in planning for executives and employees with equity compensation, but we also work with clients in various professions with different financial situations if we both feel there's a fit.
Do you work with clients nationwide?
Yes! UWM is equipped to work virtually with clients across the United States.
How are you paid and what do UWM's services cost?
Our only compensation comes from the fees paid by our clients. This is purposeful because it removes conflicts of interest and potential incentives to make recommendations that aren't in your best interest. You can view UWM's service tiers and pricing on the pricing page.
How am I billed?
Billing is done quarterly, in arrears, and pro-rated for the number of days in the quarter. Investment management fees are based on the average daily balance (ADB) of the client's accounts. For example: • A client's contract starts with 40 days left in the third quarter • Their annual planning fee is $10,000, and the ADB of their accounts was $2,500,000 Their first bill would be due in early October and would be calculated as follows: • Planning: $10,000*(40 days as a client/365 days in the year) = $1,095.89. • Investment Management: $2,500,000*(40 days as a client/365 days in the year)*.0035 = $958.90. The full fourth quarter fee would be due in early January. • Planning: $2,500 ($10,000/4) • Investment Management: (ADB*.0035)/4 Barring any changes in the relationship, this would continue each quarter. Terminated relationships will be issued a final, pro-rated bill. Clients can choose planning, investment management, or both.
Am I locked into a contract?
When we start a client relationship, we expect it to last for decades. But you're free to terminate our relationship any time with no questions asked if you don't feel we're holding up our end of the deal.
Why should I hire you when I can do it myself?
Great question! The truth is, you shouldn't hire an advisor unless you're confident they can deliver value in excess of their fee. That's why our prospective client process is designed to help you evaluate whether we or any other firm you're considering can deliver that value. Research by Vanguard concluded that a financial advisor could add up to, or even exceed 3% in net returns for clients. For more information, read our blog post, Are Financial Advisors Worth the Fee?
What if I don't have substantial assets to manage?
No problem! UWM offers ongoing financial planning services to help clients in the early stages of the accumulation phase.
Where is my money held?
For clients who engage us for investment management services, accounts are opened and held at Charles Schwab, an unaffiliated custodian. Clients maintain direct access to their accounts and can revoke UWM's permissions at any time.
What are your qualifications?
Matthew Garasic is a CERTIFIED FINANCIAL PLANNER™ Professional CFP® professionals are held to strict ethical standards to ensure financial planning recommendations are in your best interest. What’s more, a CFP® professional must acquire several years of experience related to delivering financial planning services to clients and pass the comprehensive CFP® Certification Exam before they can use the CFP® designation. A NAPFA Registered Financial Advisor The National Association of Personal Financial Advisors (NAPFA) is a leading professional association of Fee-Only financial advisors—highly trained professionals who are committed to working in the best interests of those they serve. A member of XY Planning Network The XY Planning Network is the leading organization of fee-only financial advisors who are focused on working with Generation X and Generation Y clients. A member of Fee-Only Network A platform dedicated to providing consumers easy access to profiles of vetted financial advisors working under a transparent fee structure with a legal obligation to provide unbiased financial advice. No sales. Period.