We are excited to announce that on September 1, 2015, The Main Street Group will become its own Registered Investment Adviser (RIA). Your current Strategic Asset Management (SAM) account with LPL Financial will now be called a SWM (Strategic Wealth Management) account, but its account number will not change.
The assets in the SWM account will continue to be managed by your advisor at The Main Street Group. LPL Financial continues to serve as the custodian and broker-dealer on the account, and you will continue to receive account statements from LPL.
Forming our own RIA will allow us to expand our services to our clients. We can, for example, offer a wider variety of consulting services (college planning, long-term care planning, and Social Security Benefit planning, just to name a few) on an hourly or flat-fee basis.
We also have more flexibility in determining the minimum balances for certain types of accounts. For example, we can open smaller accounts – such as ROTH IRA’s – for our clients, instead of requiring a $25,000 minimum opening balance.
Your advisor will be contacting you soon to discuss this transition in more detail. We’ve enclosed the Advisory Agreement and the “SAM to SWM” transfer form for your review, and encourage you to ask us if you have any questions about our new RIA.
We appreciate the confidence and trust you have placed in us, and thank you for supporting us as we take this next step in providing greater service to our advisory
Steven G. Crawford, CLU, ChFC, LUTCF, CFS, AEP
Chief Executive Officer