Frequently Asked Questions
If you don't see your question below, or have other questions, please contact us.
Why should jazz wealth manage my money?
There are many investors who wish to do it themselves, but many make mistakes that cost them a lot of time and money. Many other advisors out there are actually only compensated by selling you high-fee products, or claim to charge very little fees, but make it up by hiding the rest. While we're sure that many of them have good intentions, they do have to pay for those big buildings and commercials somehow!
At Jazz Wealth we've combined a proven, award winning investment approach with complete transparency on our fees. This gives our clients peace of mind knowing that their money is being invested properly, all for one low fee.
At Jazz Wealth we've combined a proven, award winning investment approach with complete transparency on our fees. This gives our clients peace of mind knowing that their money is being invested properly, all for one low fee.
who is folio?
Folio Investments, Inc. (“Folio Institutional”) is a registered clearing broker-dealer with the U.S. Securities and Exchange Commission (“SEC”) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (“SIPC”). Folio Institutional, among other things, holds public and non-public/unlisted securities and cash on behalf of its customers.
Folio Institutional is based in McLean, VA and is not affiliated with Invest Forward, Inc. Folio Institutional is not responsible for and does not approve, endorse, review, recommend or guarantee the services of Invest Forward, Inc. Folio Institutional does not question, investigate, analyze, monitor, or otherwise evaluate the suitability of any investment made in your brokerage account or review the prudence, merits, viability, or suitability of any security as an investment for you or the decision to purchase or hold securities. You have access to your account with Folio Institutional at www.folioclient.com.
Folio Institutional is based in McLean, VA and is not affiliated with Invest Forward, Inc. Folio Institutional is not responsible for and does not approve, endorse, review, recommend or guarantee the services of Invest Forward, Inc. Folio Institutional does not question, investigate, analyze, monitor, or otherwise evaluate the suitability of any investment made in your brokerage account or review the prudence, merits, viability, or suitability of any security as an investment for you or the decision to purchase or hold securities. You have access to your account with Folio Institutional at www.folioclient.com.
WHAT TYPES OF ACCOUNTS DO YOU MANAGE?
We manage traditional IRA'S, Roth IRA'S, SEP-IRA plans, and can assist you with rolling over an old 401(k) to a plan that is best suited for you. We also manage taxable, and other retirement accounts as well.
what are your fees, and how do i pay jazz?
We have one simple fee structure based on the assets that we manage for you. We never charge for financial advice and you will always have direct access to your advisor. You can also get a full a clear picture of your financial health in NestEgg, our custom client portal. Our fee is per year and is broken up monthly to come right out of your account, so there is no need to pay us directly. We offer all this at 1.5% of the assets we manage, and the fee gradually reduces as you grow.
do you have an account minimum?
We use fractional shares to maximize growth even with the smallest of accounts but we do suggest a minimum starting balance of $2000.
what type of investments will be in my account?
We use a strategic mix of stocks, low-cost index funds as well as globally diversified exchange traded funds. There are now officially more exchange traded funds than individual stocks which has helped drive fees down severely. We focus on liquid ETF's with the lowest possible cost.
HOW DO I KNOW YOU WONT STEAL MY MONEY?
Trust is earned and at Jazz Wealth we earn it on day one. We never have access to your money, period. Once you open your account we will only have access to manage the investments. We can add investments or remove investments and that's it. You will never send Jazz Wealth your money and we will never send you ours!
do you have authority to make withdrawAls?
No. Jazz Wealth will never have the ability to remove funds from your account.
why do you work with beginners?
To have a financial advisor that works for one of the large firms you need to be wealthy. How is one supposed to get wealthy if they don't have the right financial advice? Our goal is to be a full service financial advisor for the little guy, without the full service fees.
Can i cancel anytime?
Yes! You may cancel at anytime with no penalty or additional fees. We will even assist you in moving your account wherever you wish.
do you invest in mutual funds?
Only when a client insists. We have access to every product on the planet, and that is no joke. With so many low, or no cost offerings it is the opinion of Jazz Wealth Managers that there is no need to invest in mutual funds anymore.
where can i see my money?
You can see all your accounts by logging in directly from our client login page. From there you can access your account directly or check out your personal portal on NestEgg.
what happens if folio becomes insolvent?
In the unlikely event that Folio Institutional were to become insolvent, your brokerage accounts are covered by SIPC insurance, SIPC insurance protects against losses stemming from the financial failure of SIPC member brokerage firms. SIPC insurance protects the securities and cash in a brokerage account up to $500,000 (which includes a limit of $250,000 protection for cash in an account). SIPC insurance protection for customers with multiple accounts is determined by “separate capacity” as defined by SIPC. A brochure explaining SIPC coverage is available on the SIPC website (www.sipc.org).
Independent of and in addition to SIPC coverage, Folio Institutional provides brokerage customers with additional supplemental insurance coverage, which would only be used when SIPC insurance coverage is exhausted. Purchased from underwriters at Lloyds of London this separate, supplemental insurance provides coverage for an additional amount of loss to clients limited to a combined aggregate return to all customer from SIPC and certain underwriters at Lloyds of London of $10 million each with a sub-limit of $900,000 to cover cash based on any one customer’s presentation of an excess SIPC claim.
Neither SIPC insurance nor the supplemental insurance coverage protects against investment losses from the decline in the market value of securities.
In addition to the SIPC insurance coverage for cash, you also may be entitled to insurance through the Federal Deposit Insurance Corporation (“FDIC”). All cash deposits held in Folio Institutional’s bank sweep program (“the Program” as defined in Exhibit 2 to the Folio Institutional Customer Agreement), by account ownership category as recognized by the FDIC, are covered by insurance from the FDIC, up to certain amounts.
Under the Program, Folio Institutional provides extended FDIC insurance by placing your cash, by account ownership category, in a bank or multiple banks when it would exceed the limits of any one bank. For the number and identity of the current banks in the Program, the available FDIC insurance, and a full explanation of the Program please see Folio’s website.
You can get publicly available financial information concerning any or all of the banks at http://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx and more detail on FDIC insurance from http://www.fdic.gov/deposit/deposits/index.html by contacting the FDIC Public Information Center by mail at 3501 North Fairfax Drive, Room E-1005, Arlington, VA 22226 or by phone at (877) 275-3342 or (703) 562-2200.
Independent of and in addition to SIPC coverage, Folio Institutional provides brokerage customers with additional supplemental insurance coverage, which would only be used when SIPC insurance coverage is exhausted. Purchased from underwriters at Lloyds of London this separate, supplemental insurance provides coverage for an additional amount of loss to clients limited to a combined aggregate return to all customer from SIPC and certain underwriters at Lloyds of London of $10 million each with a sub-limit of $900,000 to cover cash based on any one customer’s presentation of an excess SIPC claim.
Neither SIPC insurance nor the supplemental insurance coverage protects against investment losses from the decline in the market value of securities.
In addition to the SIPC insurance coverage for cash, you also may be entitled to insurance through the Federal Deposit Insurance Corporation (“FDIC”). All cash deposits held in Folio Institutional’s bank sweep program (“the Program” as defined in Exhibit 2 to the Folio Institutional Customer Agreement), by account ownership category as recognized by the FDIC, are covered by insurance from the FDIC, up to certain amounts.
Under the Program, Folio Institutional provides extended FDIC insurance by placing your cash, by account ownership category, in a bank or multiple banks when it would exceed the limits of any one bank. For the number and identity of the current banks in the Program, the available FDIC insurance, and a full explanation of the Program please see Folio’s website.
You can get publicly available financial information concerning any or all of the banks at http://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx and more detail on FDIC insurance from http://www.fdic.gov/deposit/deposits/index.html by contacting the FDIC Public Information Center by mail at 3501 North Fairfax Drive, Room E-1005, Arlington, VA 22226 or by phone at (877) 275-3342 or (703) 562-2200.
