[billethkid]

Originally Posted by chelsea24

FYI They can afford an "in your face" building because they do such an outstanding job for their clients and if you can find "an understated professional who will gladly share with you his wealth, how he invested, " Share it with us all!!!!! haha! It doesn't exist. I, myself, do not trust "understated". Good luck!

WE LOVE FROSS & FROSS!!!

To each their own. It certainly does in fact exist.

I personally know several that could by a Fross & Fross each day!!! That does not make one better or lessor; not even in the equation...merely a stated preference....nothing more.

btk

[paperclip202]

It looks like there are several people in this tread that are happy with Fross and Fross. They seem to have several hundred clients in TV and spend significant time marketing their services.

Can someone enlighten us on the following:
- Are they a fee-only advisor or fee plus commission?
- Are they a fiduciary for you the investor? This is huge and I highly recommend that you only work with a fee-only fiduciary advisor. Here is a good article that highlights the differences.
Does Your Broker Make You Broker? | Terry Savage

- What types of investments are in your portfolio? Mutual funds like American Funds, ETF's or other investments? Do you have A shares, B shares, C shares or no load funds? Do you pay 12b-1 fees back to Fross and Fross?
- Do they compare your portfolio to a custom benchmark/ index every quarter so you can track performance? This will help you determine if they add value over time.
- It looks like they also sell insurance? Do they try to sell you equity indexed annuities or other high commission insurance products?
- Who do they custody your money with? Where is your money held? Is it at Schwab, Fidelity, TD Ameritrade or someplace else?
- Here is their firm brochure. It looks like they are part of SII Investments, Inc. They are required to give the firm brochure to every client and prospect once per year. Are people really paying this high fee schedule or are you getting some sort of TV discount for "private wealth management for select individuals"? At this tiered schedule you would pay $21,249 per year for $1 Million (this is very expensive)!!!! What are people actually paying?

Fross and Foss firm brochure from SEC
IAPD - Part 2

Standard Linear Fee Schedule - from SII Investments, Inc ADV2 brochure 2013
Portfolio Value Maximum Annual Fee
$0 - $49,999.99 2.75%
$50,000 - $99,999.99 2.75%
$100,000 - $249,999.99 2.50%
$250,000 - $499,999.99 2.25%
$500,000 - $749,999.99 1.90%
$750,000 - $999,999.99 1.75%
$1,000,000 - $1,249,999.99 1.75%
$1,250,000 - $1,749,999.99 1.50%
$1,750,000 - $1,999,999.99 1.40%

When it comes to investing, details matter. We hope to learn more about their approach. Thanks.

[784caroline]

It looks like there are several people in this tread that are happy with Fross and Fross. They seem to have several hundred clients in TV and spend significant time marketing their services.

Can someone enlighten us on the following:
- Are they a fee-only advisor or fee plus commission? (FEE ONLY)
- Are they a fiduciary for you the investor? This is huge and I highly recommend that you only work with a fee-only fiduciary advisor. Here is a good article that highlights the differences.
Does Your Broker Make You Broker? | Terry Savage

- What types of investments are in your portfolio? Mutual funds like American Funds, ETF's or other investments? (MF, ETFs, Bonds, REITs ...would vary depending upon a clients need) Do you have A shares, B shares, C shares or no load funds? (Typically "I" or "Advisor" class funds - no commission or back charges) Do you pay 12b-1 fees back to Fross and Fross?(All 12b-1 fees are rebated back to your cash balance)
- Do they compare your portfolio to a custom benchmark/ index every quarter so you can track performance? (YES....You can work with them to determine the best benchmark to use...not everyone is for full charge growth ) This will help you determine if they add value over time.
- It looks like they also sell insurance? Do they try to sell you equity indexed annuities or other high commission insurance products?(They are licensed to sell insurance or annunity products. Each clients situation is much different than the next so its hard to generalize. If a client needs some guaranteed income (or downside safety)an annunity may fit their need, this however, is not their primary sell.
- Who do they custody your money with? Where is your money held? Is it at Schwab, Fidelity, TD Ameritrade or someplace else? (SII Investments)
- Here is their firm brochure. It looks like they are part of SII Investments, Inc. They are required to give the firm brochure to every client and prospect once per year. Are people really paying this high fee schedule or are you getting some sort of TV discount for "private wealth management for select individuals"? At this tiered schedule you would pay $21,249 per year for $1 Million (this is very expensive)!!!! What are people actually paying? (The fee schedule(s) you included are part of SIIs package, however in addition to these schedules there is an option for a FLAT fee. Fross and Fross uses a 1% annual flat fee...which is very reasonable for a managed account.)

Fross and Foss firm brochure from SEC
IAPD - Part 2

Standard Linear Fee Schedule - from SII Investments, Inc ADV2 brochure 2013
Portfolio Value Maximum Annual Fee
$0 - $49,999.99 2.75%
$50,000 - $99,999.99 2.75%
$100,000 - $249,999.99 2.50%
$250,000 - $499,999.99 2.25%
$500,000 - $749,999.99 1.90%
$750,000 - $999,999.99 1.75%
$1,000,000 - $1,249,999.99 1.75%
$1,250,000 - $1,749,999.99 1.50%
$1,750,000 - $1,999,999.99 1.40%

When it comes to investing, details matter. We hope to learn more about their approach. Thanks

[keithwand]

I wii stick with Bernie Madoff and his stellar returns.

[Jrs1958]

Originally Posted by cab1948

I have checked previous threads on Fross and Fross Investment Firm. There is some positive and negative info. My husband and I have a firm in Massachusetts who currently handle our funds. We would prefer to have someone local handle it for us. We talked with Fross and Fross and had decided to go with them but our current advisor told us that he looked into their firm and warned us against them. He said that no one there was designated as a Certified Financial Planner and their really employed by SII Investments. They never mentioned anything about selling us annuities, like some people have said. We are confused. If your with Fross are you happy? Any info would be appreciated.

I use Interactive Brokers and they are excellent and cheap although they don't offer advice. I have set my account up as follows and it generates an excellent income stream and I think is conservative.

10% cash
10% acg
10% vti
10% fam
10% pff
10% awf
10% lqd
10% pcef
10% dia
10% nma

I reinvest dividends to keep these balances. IB charges .05 per share traded

[Mallory Voice]

Originally Posted by cab1948

I have checked previous threads on Fross and Fross Investment Firm. There is some positive and negative info. My husband and I have a firm in Massachusetts who currently handle our funds. We would prefer to have someone local handle it for us. We talked with Fross and Fross and had decided to go with them but our current advisor told us that he looked into their firm and warned us against them. He said that no one there was designated as a Certified Financial Planner and their really employed by SII Investments. They never mentioned anything about selling us annuities, like some people have said. We are confused. If your with Fross are you happy? Any info would be appreciated.

Interesting - did you know that Fross & Fross handles the Morse portfolios?
Tom is a regular on the TV financial news stations? They handle annuities because they are safe investments for seniors with assets to protect. Just makes sense right? We've personally talked to several of their clients and they have all said that they are making money, assets are protected, and they're happy. We have transferred all our investments to them. We trust them. You'll be in better hands with Fross & Fross than any other financial institution in our area - bare none because we have been with them all from time to time!
Hope this helps! MV

[bmac007]

Sounds like good experiences with Fross & Fross. Any other recent feedback?

[STLRAY]

Before employing anyone to manage your finances you should check out FINRA.ORG and click on Broker Check. Thomas Fross has had numerous complaints from clients. Use your best judgement.

[petsetc]

paulmerriman.com - read his 3 FREE ebooks - at least read the one titled "Get Smart or Get Screwed" before making new investments.

[dewilson58]

Give them $1mil to invest for you.
After 10 years, you paid them over $200,000.
Ouch.

[Dan9871]

I've been happy with Steve Resler of Hallmark Capital. He is a CFP and a fiduciary. (407)-567-2934.

Originally Posted by cab1948

I have checked previous threads on Fross and Fross Investment Firm. There is some positive info. My husband and I have a firm in Massachusetts who currently handle our funds. We would prefer to have someone local handle it for us. We talked with Fross and Fross and had decided to go with them but our current advisor told us that he looked into their firm and warned us against them. He said that no one there was designated as a Certified Financial Planner and their really employed by SII Investments. They never mentioned anything about selling us annuities, like some people have said. If your with Fross are you happy? Any info would be appreciated.

Home | Fross & Fross Wealth Management
This is their website.....

[Hifred]

We had several meetings with Fross and Fross. They seemed very professional and we were ready to transfer our money to them. We got the paperwork and read it noticing that they were with LPL financial. If you look at emails you get from them you will notice it states LPL financial. LPL was fined numerous times once for 11.7 million dollars by FINRA, another time for 10 million, another time for 6.5 million and has been cited in a number of attorney general complaints and improper regulatory actions. You can look up LPL financial and read for yourself before making a decision. We personally found that to be disconcerting and chose not to invest with Fross and Fross. However, investments are a personal decision so it is important you do your research and come to your own conclusions. Some of the problems with LPL was they were charged with sales of complicated REITS or non-traded REITS to unsophisticated investors, failing to maintain a proper supervisory system with respect to the sales, employee misconduct, and the like. The people at Fross and Fross did seem efficient and caring however, after reading horror stories of others who worked with offices also owned by LPL I decided against it.

[CoachKandSportsguy]

The key to the current questions is how will they invest your money in an inflationary environment of 5% or greater? how will they invest your money in a rising interest rate environment? Fidelity told us in December they did not see a recession in the next 12 months. . . hmmmm. . . the question is how quickly do they adapt to changes in the market environment, or do they set it and forget it? Given your answers to their risk profile questions, can they show you how a similar proposed portfolio returned with the investment changes over the last 20 years? the biggest uncertainty right now is that the US bond market has been in a deflationary trend for 40 years, which ended with the pandemic when interest rates went to ZERO. That positive market support is now gone from a long term basis.

finance guy, which this type of question is all about, future investments and returns

[CoachKandSportsguy]

Originally Posted by Hifred

We had several meetings with Fross and Fross. They seemed very professional and we were ready to transfer our money to them. We got the paperwork and read it noticing that they were with LPL financial. If you look at emails you get from them you will notice it states LPL financial. LPL was fined numerous times once for 11.7 million dollars by FINRA, another time for 10 million, another time for 6.5 million and has been cited in a number of attorney general complaints and improper regulatory actions. You can look up LPL financial and read for yourself before making a decision. We personally found that to be disconcerting and chose not to invest with Fross and Fross. However, investments are a personal decision so it is important you do your research and come to your own conclusions. Some of the problems with LPL was they were charged with sales of complicated REITS or non-traded REITS to unsophisticated investors, failing to maintain a proper supervisory system with respect to the sales, employee misconduct, and the like. The people at Fross and Fross did seem efficient and caring however, after reading horror stories of others who worked with offices also owned by LPL I decided against it.

Most all customer facing investment professionals should and will present that way. However, that should have no bearing on how they handle your money. Money investments is a process to adapt to changing environments and forecasts. There will always be a historical data to their performance, you just have to look at it to see if it makes sense to you with changing outlooks such as high valuations, rising interest rates, increasing systemic risks.

[retiredguy123]

Originally Posted by dewilson58

Give them $1mil to invest for you.
After 10 years, you paid them over $200,000.
Ouch.

I never have and never would pay someone a percentage of my assets to invest for me.