Wealth of Insight

We have exciting news to share. Effective immediately, we have left Morgan Stanley to start our own firm, Kimery Wealth Management, as a privately held investment advisory practice. Charles Schwab & Co., Inc. (“Schwab”), a subsidiary of The Charles Schwab Corporation, has been selected as our transition partner and custodian of record. Your investments will not change; your team will not change. Every member of The Kimery Group has joined Kimery Wealth Management. We are in the same building in a new and more appropriate office space located on the first floor.

When it comes to serving our clients, and caring for their financial well-being, we have never settled for “good enough,” and we certainly cannot abide by not having the best possible resources available in the industry today. Ultimately, that guiding principle led us to choose Schwab as our custodian of record and partner. Schwab supports over 7,000 firms with over $2.95 trillion[1] in client assets and boasts a 25-year track record of supporting the independent advisor and their clients. We found their long history of profitability and financial viability to be very comforting in today’s uncertain and sometimes volatile environment. As a point of reference, in the 2008 financial crisis Schwab neither asked for, nor was forced to receive, a government bailout. Additionally, they remained independent and were not forced to merge with another firm to remain solvent.

The financial industry is moving in a different direction and that fact is becoming more apparent every day. Large retail banks no longer cherish the personal relationship that is one of the cornerstones that we have built our business upon. Our team has spent decades earning the trust of our clients and we recognized that in order to maintain that trust, we needed to evolve into a fully transparent, independent financial advisory business. By definition of the law, an investment advisory business must absolutely hold itself accountable in adherence with the Fiduciary Standard of Care – a standard our old firm never willingly accepted until recent changes in the law forced them to do so on a limited basis. That fact simply made no sense to us and does not align with our core principles.

Kimery Wealth Management is the same team of people you have come to know and count on with the same commitment to client service. Hopefully it is obvious to everyone that we thoroughly enjoy making a positive impact on, and being a part of, your life. Every day we are excited to help relieve the stress and complexities of wealth management for the individuals, families and businesses we are fortunate to call our clients.

Thank you for sharing this experience with us. We are honored that you depend on and trust us with your financial well-being. We will be reaching out to you directly in the not so distant future to discuss the details of the above-mentioned change and guide you through the next steps. We have included some frequently asked questions to this letter that we believe will be helpful.

[1] As of April 30, 2017.

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