Our Financial Services
About Our Financial Services
When Fred Matarazzo began our family firm in 1958, he started life as an accountant. However, he constantly found himself providing financial advice that was outside the realm of accounting. That’s why a few decades later, Fred became one of the first Certified Financial Planners (CFP) in the country. At HeartStone Advisors, we carry on Fred’s tradition of holistic financial planning to this day.
Regardless of your age, income, or goals, we will work with you to assess your needs and make an objective plan for your financial future. Frankly, the process can sometimes be as much work for you as it is for us! A full-fledged financial plan involves analyzing your tax return, investments, insurance, and any other pertinent documents you may have for your unique situation. In most cases, the more data you can provide us, the better!
We also recognize that no financial plan is set in stone once we “press print.” We continually work with our clients to monitor that financial plan to assure that their needs and goals remain in alignment with the plan. We aim to be the financial sounding board for our clients: one stop shopping for every financial question you may have. We give our opinion on everything from “15 year vs. 30-year mortgage” to “which cell phone plan is best for me?” We aim to assist you, and we really mean it.
We believe HeartStone’s ‘manager of managers’ approach is the best way to provide fiduciary advice to our clients. Through investment vehicles such as ETFs, SMAs, and institutionally-priced mutual funds, we are able to meet the needs and objectives of virtually any client. Because we’re paid by you, the client, we are able to remain objective in our work. We operate with discretion, continuously monitoring investment performance and costs within our clients’ accounts. If a fund is underperforming or deemed too expensive, it’s placed on a watchlist for replacement.
As a ‘manager of managers’, HeartStone is in charge of proper asset allocation for our client accounts. We believe in reversion to the mean and the value of long-term investing. To find value in the markets, we speak frequently with portfolio managers and aim to digest as much data as possible coming out of Wall Street and the government. We keep a keen eye on risk relative to our clients’ appetites for it. This discussion of risk is quantified using a variety of software and metrics.
401(k) & Pension Fiduciary Services
Plenty of financial advisors, especially brokers, treat 401(k) plans as products to be sold. There generally is no fee transparency. 401(k) plan participants are unable to see how much they are truly paying for their plan because these costs are embedded in opaque mutual fund expenses. HeartStone does not operate this way. We are ERISA 3(38) fiduciaries. This is the highest level of fiduciary care anyone can bring to your pension or 401(k) plan. As ERISA 3(38) managers, we take on full liability in writing for the investment management of your corporate retirement plan. Only ERISA 3(38) managers can provide plan sponsors and trustees this level of relief from liability. As a 3(38), we must disclose all fees being paid from the retirement plan. These fees are clear, accounted for, and visible on all participant statements. Our fees are also generally far lower than those of bundled plan providers who lack fee transparency.
Many small to medium sized businesses lack the funds or expertise to have an in-house investment committee monitoring the nuances of their 401(k) or pension plan. HeartStone is the expert consultant for these businesses. We seek to meet at least annually with plan sponsors to monitor plan investments, and we also pride ourselves in providing employee education whenever possible.
HeartStone recognizes the unique bond between business owner and business – we’re business owners ourselves, of course! Some of our most engaging client experiences come from business owners. By managing both personal assets of a business owner and the company assets of his/her business (401(k), pension plan, etc.) we are able to provide truly holistic planning. We’re also able to do it at a lower relative cost by managing all of these assets under one roof! Clients are elated to find they only need one firm to handle financial matters for themselves and their business – a direct line for a variety of financial assistance. From family owned real estate companies to steel manufacturers and law firms, we have provided innovative financial solutions for businesses in a variety of fields. We are confident we can help your business as well.
The financial planning process is at the core of all retirement planning, estate planning, and tax planning. Many other firms gloss over financial planning in an attempt to sell investment products. HeartStone takes the time to understand the unique financial background of every client. Remember, as fiduciaries, we answer to you, not mutual fund or insurance companies. The heart of any financial plan is good data. We will ask you to complete our HeartStone Data Gatherer (either via paper or electronically.) Frankly, this process requires more work from you than it does for us! The data gatherer will ask for every data point of your financial life – the more the better. Mortgage statements, credit card bills, tax returns – you name it, we want it! Block off a weekend, crack open a bottle of wine, and let the data gathering process take shape.
Once we have gathered data from you, we use a variety of financial modeling tools to project cash flow, needs, and goals. Our analyses allow us unparalleled flexibility in projecting your financial future. Planning for a wedding in 5 years time? We can see how that will affect your cash flow. What if your spouse dies in 3 years with your current amount of life insurance? We can model that too. With concrete data, almost any scenario can be accounted for in the HeartStone financial planning process.
Retirement planning can be a daunting thought. Along with financial planning, there is a need for a strategy that includes the determination of the client’s current financial condition, short-term goals, long-term goals, and the tolerance of certain risks.
There is no “set in stone” plan because it is all about how you want to achieve it. We will be there throughout the process to guide you and offer any advice. Before we can get started will need to assess the following:
- Determine cash flow needs in order to recognize the quality of life you hope to achieve after retirement.
- Develop cash flow-based, long-range wealth projections so you can be comfortable in your decision making once your work-based income ends.
- Evaluate sources of income and propose alternative strategies in order to help assure that you will have options in your future earnings.
- Assess tax implications of retirement options to make sure there are no surprises if and when Uncle Sam comes knocking on the door.
- Facilitate informed pension payout decisions so you are dispersing your funds in a smart manner that will make sure you have enough to be comfortable with, yet ensure you have enough funds to last.
Estate planning can cover a wide range of needs. When you partner with HeartStone Advisors to help with your estate planning we will analyze and explain tax consequences of current estate structure, review existing documents and beneficiary designations, and provide referrals to estate attorneys as needed, and be there to assist with any needs you may have.
Get Started Investing Today
No matter your goals, the one thing we have going for us – or against us – is time. The quicker you begin planning for you and your family’s future, the better off you will be when it comes to reaching your goals.
With over sixty years combined experience in the financial services industry, we’re proud to have helped so many clients from so many different backgrounds reach and exceed their goals. No matter your current financial standing or background, HeartStone offers the same level of care and attention to all of our clients.
Should you like us to partner with you on your journal to fiscal freedom, or should you want more information on how we can help you, please do not hesitate to reach out. We’ll be here.