HBW Advisory Contacts
HBW ADVISORY CONTACTS AND DUTIES
Compliance Manual and Code of Ethics (please review and sign the acknowledgement forms. Let todd.penrod@hbwadvisory.com know if you have any questions)
Compliance-Manual - Compliance Manual Acknowledgement Form (Sign the Acknowledgement)
Code-of-Ethics - Code of Ethics Acknowledgement Form (Sign the acknowledgment)
Correspondence Setup and Review
Review your disclosure documents and email todd.penrod@hbwadvisory.com for any changes These disclosure documents must be provided to clients at or prior to the time of sale.
Important: All email communication are done through HBW email. You must setup your HBW email to receive these communications.
You can use the templates below if you're only registered with HBW Advisory Services. If you're also registered with Cetera Advisor Networks you'll need to change the logo and disclosure language on the templates using the dual disclosure link below.
Email Setup Email Instructions
Secure Email: (use this website when sending sensitive information to keep the information secure) If you're new to using the site click on new user. https://w.deliveryslip.com/hbwadvisory
Text Message Setup Text Message Instructions
Important: You must sign up for text messaging through MyRepChat before communicating with your clients by text message
Business Card Template Email mike.linder@hbwadvisory.com to have a business card created. You can also use an outside vendor if you prefer a specific design
Letterhead Template HBW Advisory Letterhead IA registered only example
Fax Cover Template HBW Advisory Services Fax Coversheet IA Registered Only
Dual Disclosure Use these disclosures if you're also registered with the broker-dealer through HBW Partners
Getting Registered with Custodians
At HBW Advisory you can conduct business with any custodians we have selling agreements with. Each custodian has their own paperwork for opening an account which must be completed along with our HBW Advisory paperwork. Betterment accounts don't require our HBW Advisory paperwork to be completed. You can find our HBW Advisory paperwork packages on our forms page All paperwork gets submitted to trades@hbwadvisory.com for approval before being sent to the custodian. Refer to our small balance accounts policy which outlines minimum account balance requirements.
Small Balance Accounts Policy
AXOS Advisor Services
Email shannon.kent@hbwadvisory.com to get registered with AXOS Advisor Services
Multi Money Manager Platform focused on Absolute Return Strategy. Minimum $25,000 per account. AXOS portal for both advisors and clients is called Liberty. Below are the links for access:
Liberty for Professionals
Liberty for Investors
Forms link
Charles Schwab (Schwab)
(Email todd.penrod@hbwadvisory.com to get registered)
Schwab Service Team (Institutional Group 16 - post conversion) (link)
Fee Schedule
Example Charles Schwab Fee Schedule
You might do something like the following:
HBW Advisory will default to a tiered pay schedule rather than linear or flat rates unless you explicitly request a linear or flat schedule. Under the above example a tiered schedule would result in the first 250K being billed at the 1.5% and every dollar above that up to the next break point being billed at 1.25%. If you choose a linear payout all of the assets would be billed at the lower rate. So that if the account balance were 251K the 1.25% would apply to the entire balance. You should also keep in mind that your schedule may limit the availability of some platforms should a new fiduciary rule include a level fee requirement. For instance, under many solicitor arrangements the maximum compensation to the firms and rep is 1.25%. If your small account rate is 1.5% as above, then those solicitor options would not be available to you because it would put you and HBW in violation of the rule.
Of course you can play with the above numbers to suit your markets. Think carefully before setting your fee schedule as changes to the fee schedule usually require that all of your clients be notified and could also require a new contract for financial advice.
Schwab Training
Once you've been registered with Schwab you'll want to watch training videos to learn how to navigate their website. After you've logged into their site click Support in the upper right of the page and then RIA EdCenter at the bottom of the dropdown.
Schwab - iRebal Training
This will show you how to build models and place trades through Schwab. We don't know if Schwab will require video training prior to accessing the system but expect that it will. Check the Solutions page and then Leverage Technology after September 5, 2023.
DocuSign Setup
HBW has created a Docusign Crash Course (this requires an update post Schwab)
Please refer to the Crash Course document for how lo load the template for HBW Paperwork
Betterment for Advisors
Register for Betterment: Advisor signup link
Betterment's platform is good for much more than taxable accounts it just happens to excel in the area of tax-manged accounts. Betterment has a getting started guide as well as a powerpoint file that contains a 2-page marketing piece you can use with clients. Be sure to update the invitation link on page 2 to reflect your personal url for signing up clients. There is also this piece which shows you the account funding options. You can watch an overview of the platform here.
We also have a recorded Webex session for understanding the Betterment sales proposition. This covers the "why" of Betterment.
Betterment for Advisors now offers portfolios that are unique to the advisory platform. Meaning they are not also available to retail investors. Advisors now have the ability to choose portfolios managed by either Goldman Sachs or Vanguard as well as the Betterment run portfolios. More information can be found on their portfolios page. You can also access a recorded webinar on the new portfolios here.
Betterment also offers 401k plans
For 401k information you can speak to Connor Diamond at connor@bettermentforbusiness.com.
Betterment 401k platform overview
Example Proposal
Nationwide (Contact Nationwide directly to get appointed)
Nationwide offers a low flat cost VA used for Non-Qualified accounts. $25,000 minimum. Service center (866) 667-0564. Nationwide accounts can be managed through AXOS Advisor Services and most of E*TRADE Advisor services platform managers are available inside Nationwide policies.
