Frequently Asked Questions

Basics

A financial advisor is there to help you invest and manage your hard-earned money for whatever future goals you might have. Just like many other professionals, financial advisors’ style, results and costs may vary significantly.

If you have a legal problem, you would probably want to hire a lawyer, unless you have a high degree of legal expertise. If you have a medical problem, you would probably want to see a doctor unless you are a doctor yourself. If you want to remodel your bathroom, you would probably hire a contractor, unless you have the expertise and the time to do it yourself.

So unless you are very comfortable with markets and investing, and have the time and patience to manage your funds, it is a good idea to hire a professional.

Eureka Wealth Solutions utilizes the latest methodology and technology to create sensible and affordable financial solutions for our clients. We automatically allocate and manage your low-cost investment portfolio based on your risk profile. It may sound similar to the so-called robo-advisors, but we do not believe that one size fits all.

Many institutional investment managers would cost more, yet may be unable to fully customize your portfolio for various reasons. They may be constrained by a prospectus of their fund, being part of a larger institution may limit risk by imposing institutional mandates on portfolio allocations, and finally, their career and compensation may prevent them from taking the appropriate risk.

What sets us apart is the ability to provide you with a highly customizable combination of thematic and impact portfolios designed around your values and ideas, while keeping your fees low.

We offer wealth management services. That includes creating and maintaining investment portfolios across multiple account types, as well as some additional services such as tax harvesting and optimization. We also help our clients with all aspects of their financial lives such as tax planning, financial planning and estate planning.

Please note that we do not provide the following services:

  • Real Estate transactions. We do not advise or execute individual real estate transactions. Please contact your licensed real estate agent.
  • Brokerage Services. We are not a broker/dealer, but we work with several to execute transactions in your portfolio.
  • Deposits, loans, credit cards. We do not have a banking license.

Please contact us if you have further questions.

  • Individual or joint brokerage accounts
  • UGMA/UGTA or Trust accounts
  • Individual retirement accounts (IRA, Roth IRA, individual 401(k) or 403(b), SIMPLE IRA)

Please contact us for other types of accounts.

There is no minimum to invest, but there is a minimum annual fee. Please make sure to check out our Fees & Brokers page. Also, please bear in mind that each broker may have their own account minimum.

A fiduciary is a person or legal entity, such as a bank or brokerage firm, that has the power and responsibility of acting for another (usually called the beneficiary or principal) in situations requiring total trust, good faith and honesty.

In its most basic form, a fiduciary is an investment professional who must act in his or her clients’ best interests. Some, but not all, financial advisors are fiduciaries.

In practice, this generally means:

  • The adviser uses an objective, documented process for evaluating and recommending cost-effective investment options based on a thorough understanding of each client’s unique investment objectives and risk tolerance.
  • The adviser is paid directly by the client, usually as a percentage of the assets he or she manages for the client.
  • The adviser receives no commission or other payouts from investment companies or funds recommended to clients.
  • The adviser must minimize and disclose potential conflicts of interest that could affect his or her ability to serve in a client’s best interests.

Read more about it on Wikipedia.

We’re serving all 50 states and US territories, but you have to be a US citizen or permanent resident.

If you or any member of your household is affiliated with or employed by a member of a stock exchange or the Financial Industry Regulatory Authority (FINRA), you may be required to have that Associated Person fill out a Rule 3210 letter from their employer, which would allow you to open and maintain accounts at other member-firms by sending duplicate statements and confirmations.

Please contact the Member Firm’s Compliance Department and if required, a compliance officer should fill out a Rule 3210 letter and it should be submitted directly to your broker or to Passed Pawn Advisors by email at Compliance@EurekaWealthSolutions.com.

Please note that unlike brokerage accounts, advisor accounts typically do not have to be held only at the brokers pre-approved by the Member Firm.

An “accredited investor” is a person or entity with exclusive access to complex, loosely regulated and often opaque investments like hedge funds, leveraged buyouts and startups. To qualify as an accredited investor, according to Rule 501 of the Securities Act, a person must meet one of two tests:

  1. Have an annual income of at least $200,000 (or $300,000 for joint income with a spouse) for the last two years with the expectation of earning the same or higher income in the current year; or
  2. Have a net worth exceeding $1 million, either individually or jointly with their spouse, excluding the value of primary residence; or
  3. Be a “knowledgeable employee” of the fund, with respect to investments in a private fund, or hold certain professional certifications, designations, or accreditations.

A qualified investor is a category of investors that are exempt from the provision of the Investment Advisers Act of 1940 that prohibits private investment funds from charging performance-based fees.

A qualified investor can be one of the following:

  • A natural person who, or a company that, immediately after entering into the contract has at least $1,000,000 under the management of the investment, or;
  • A natural person who, or a company that, the investment adviser entering into the contract (and any person acting on his behalf) reasonably believes, immediately prior to entering into the contract, either:
    1. has a net worth (together, in the case of a natural person, with assets held jointly with a spouse) of more than $2,000,000, or;
    2. is a qualified purchaser as defined in section 2(a)(51)(A) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(51)(A)) at the time the contract is entered into;
  • A natural person who immediately prior to entering into the contract is:
    1. An executive officer, director, trustee, general partner, or person serving in a similar capacity, of the investment adviser, or;
    2. An employee of the investment adviser (other than an employee performing solely clerical, secretarial or administrative functions with regard to the investment adviser) who, in connection with his or her regular functions or duties, participates in the investment activities of such investment adviser, provided that such employee has been performing such functions and duties for or on behalf of the investment adviser, or substantially similar functions or duties for or on behalf of another company for at least 12 months.

Accounts

We offer three simple plans:

  • Starter – a basic fully digital option
  • Impact – includes a semi-annual call with an advisor
  • Power – a full-featured advisor account

More information on features and pricing is available on our Brokers & Fees page.

Getting started is as easy as answering a few simple questions. Just head over to the Get Started page and fill in the questionnaire.

This information is available on our Brokers & Fees page.

This information is available on our Brokers & Fees page.

Folio Investing is a new generation broker that allows clients to build a custom portfolio of up to 100 stocks or exchange-traded securities and trade that “folio” in a single transaction. Their advisor services allow us to create custom client portfolios at significantly lower cost than through traditional brokers. We recommend using Folio as a complimentary, tactical portfolio, or consider using it exclusively for smaller investment portfolios. They also provide a custody platform for private investments.

You absolutely can. You can build your own portfolio and even use Ready-To-Go folios created by the broker. However, our folios are not public. You will be responsible for transaction fees and also won’t be able to take advantage of our automated rebalancing, portfolio allocation, and ongoing portfolio management.

Absolutely. We actually never handle your money, bank accounts or credit cards. The custody of your investments and cash balances stays with the brokers at all times. The brokers provide bank-level encryption to guard your financial and personal information, and your money is covered by both SIPC and external insurance. See Folio Investing and Interactive Brokers for more information.

Our fees are deducted by the brokers directly from your investment accounts. All confidential client information that we retain is likewise encrypted and never stays on our website.

Your account fees will be automatically taken out of your brokerage account quarterly. There is no need to provide us with your bank account or credit card numbers.

Tax reporting is the responsibility of the brokerage. All of the tax documents will come from them.

Investing

Your answers to our questionnaire allow us to assess your risk tolerance and time horizon, which determine your core portfolio allocation. It will be made up of low-cost, highly liquid, pre-screened ETFs. You can always update your asset allocation by changing your answers.

Satellite, or non-core, investments are typically smaller portions of the portfolio designed to provide a different type of risk exposure based on your own ideas. We do not believe in a cookie-cutter approach to all portfolios. Providing you an opportunity to add an investment into what you value or believe in is our way to make your portfolio uniquely yours, while still maintaining the core that you need.

Technology today allows us to simplify and automate many tasks. One of them is our proprietary algorithm for portfolio allocation. Some things, however, are best left to humans. Designing and maintaining thematic and impact portfolios is one of them. Designing specialized investment solutions and addressing individual needs is another. One size doesn’t fit all. Automatically allocated, expertly managed – that’s the hybrid investment approach we believe is the future of this business.

Thematic investing is a technique of recognizing a trend – due to economic, demographic, geopolitical, regulatory or technological factors – and identifying the investment opportunities that would benefit from that trend. It has long been a staple in institutional portfolios, but it traditionally required dedicated research teams and active management, making it prohibitively expensive to individual investors. At Eureka Wealth Solutions, we create and manage a diverse group of thematic portfolios.

Impact investing is associated with positive social and environmental change in addition to financial returns. While it has not always been profitable, impact investing now allows for a number of investment opportunities that can reasonably be expected to generate positive returns in addition to doing good. At Eureka Wealth Solutions, we create and manage a diverse group of portfolios designed for impact investing.

We maintain over 400 custom portfolios, and we’re always adding more. If we don’t have the right theme for you, we will build it.

Investments in the Starter and Impact plans will be managed exclusively using ETFs and customized equity Folios, as described above. Although we are not limited in the investment instruments we can choose for our clients in the Power plan, there are some that we believe provide our clients with the types of risk/reward characteristics and cost we can recommend. Then there are others that we feel do not fit this category. Investments we may recommend

  • Mutual funds without front load
  • Equity and fixed-income ETFs
  • Equity and fixed-income CEFs
  • Custom equity portfolios*
  • Alternative investments, including REITs, MLPs, BDCs

Investments we won’t recommend

  • Front-load mutual funds
  • “Penny” stocks
  • Leveraged ETFs
  • Forwards and other OTC derivatives
  • Art, wine, classic cars, coins, stamps or other collectibles
  • Any investment we did not research

* While we typically do not recommend individual stocks due to higher investment risks, we offer custom-built equity portfolios for our clients if we are unable to recommend a comparable exchange-traded product.

Absolutely. More and more investors care about what they invest into, and we’re happy to provide you with completely transparent account statements, and answer your questions.

We will take your values and requests into consideration, and will do our best to accommodate. Any specific industry, region or security can usually be added or avoided if desired.

We act as a fiduciary on your behalf and fully abide by the Fiduciary Standard. Being an independent advisor allows us the freedom to do so without the internal conflicts of a large broker-dealer. We don’t make any money on your trade commissions, on interest on your cash balances, or by charging you for margin loans. Our broker partners are chosen specifically for their features and low transaction costs. We are not affiliated with any investment companies, so we are not compensated by any fund we recommend. If we had any conflict of interest, we would disclose it to you. Our recommendations are based on independent, unbiased research, and we only charge for our advice.

The purpose of portfolio rebalance is to realign the weights of allocations in your portfolio to what was originally intended. In other words, we would be selling some of the winners and buying some of the losers, in order readjust risk exposure. While it’s a good practice, doing it too often may incur additional transaction costs and unnecessary tax consequences, and doing it too seldom may leave your portfolio with undesired risk. We typically would rebalance your portfolio semi-annually, unless a different arrangement was agreed upon or a rebalance was required to a particular custom portfolio. This rebalance is absolutely free, except for applicable broker transaction costs.

Dividends will be deposited to your account as cash. We will not reinvest small amounts in order to avoid unnecessary transaction costs. The exception is mutual funds in the Power plan, where reinvesting into the fund is free of commissions and will be always be done by default.

It’s important to keep in mind that every investment has risks. They vary in types and degrees, but risk includes the possibility of losing some or all of the original investment. Past performance does not guarantee future results. Our job is to provide you with the most potential upside within the limits of your risk tolerance.

Retirement accounts excluded, typical brokerage accounts can have margins. Margin account can provide leverage, but would increase investing costs and could also present significant additional risks. We generally discourage the use of these forms of loans, but would consider it for interested clients with aggressive risk profiles.

Misc

The best way to reach us is to use the Contact Us page, email us or call us at 646-927-0871.

Different people have different needs in terms of advisor communications. This is why we provide different levels of accounts. If you prefer to have a semi-annual call with our advisors to discuss your performance, goals and have all your questions answered, please choose the Impact plan. For unlimited access to an advisor, consider the Power plan. If you choose the Starter plan, you can still get help with your account through the Contact Us page, but any answers regarding your investments may be limited. You should find most of the answers right here, in the FAQs. You’re also welcome to upgrade your account at any time.

We believe in socially responsible investing (SRI). To reflect our commitment to SRI, we contribute 2% of our fees annually to the charity of your choice. We use multiple factors to select the best charity from each of the following five categories you can pick from:

  • Children & Education
  • Community & Human Services
  • Environment
  • Healthcare
  • Technology & Science

The charities we selected are the top ones in each of the five major categories based on unbiased, independent research. While we may extend the list in the future, these are currently the only charity choices available.

We don’t sell your personal information. We’re here to help you with your investment needs and consider keeping your trust a top priority.

We would love to! A big part of our mission is investor education. We provide a number of resources on our website and through social media:

  • Our Investing News page provides curated Twitter news feeds for topics ranging from markets news, to specific investing topics, to emerging technologies (aka Passed Pawns!), to Personal Finance such as retirement, banking, and real estate
  • Our Newspapers provides links to daily generated thematic investing papers. You can subscribe and get the papers you’re interested in delivered straight to your mailbox daily!
  • Our Market Data page provides near real-time market data including major indices, asset classes, ETFs, and a large number of stocks organized by sectors and sub-sectors
  • More Investor Resources includes videos of our recent investing webinars, which you can also follow on our YouTube channel, and links with more useful investing information
  • Our LinkedIn page posts covers general investing news and information
  • Our Facebook page provides multiple daily posts focusing on markets news, emerging technologies, and personal finance
  • Our Twitter feed includes startup news and specific company news and analysis, in addition to what Facebook covers

If you would like to see any other particular subject covered, please let us know.

Please use the online form on the Contact Us page to provide your feedback.

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Help Me Succeed

Do you have questions about your finances?
Do you want investments that reflect your values?
Don’t want to spend a fortune?

Whether you like to talk to an advisor or do it all online, we’ve got you covered. Our pricing is competitive and very straightforward – no hidden costs.

Whatever your personal situation, your goals and values, or your investable capital, we’ll work with you to create a portfolio that is right for you. And as your fiduciary, we’ll cover all your financial needs beyond investing as well, to help you achieve your goals.

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