Frequently Asked Questions

When we operate in a fee-based relationship, we are required to be a fiduciary per the agreement. As a Certified Financial Planner, our code of ethics also has a fiduciary requirement. Most of our relationships are set up on a fee-basis, which is our preferred method of working with clients to minimize conflicts of interest.We have the ability to do brokerage or commission-based business but seldom choose this option unless it benefits you. We often find clients are sold commission-based products throughout their lifetime, and by having a broker-dealer relationship with LPL Financial, it allows us to service these products. In some cases, you might see this business for large cash positions, concentrated holdings in an investment, annuities, or permanent insurance policies.

There are three things that make us different:

1. We start with your why.
2. We believe in quality vs. quantity when it comes to client relationships.
3. We offer a process that less than 7% of wealth managers are committed to. This process was born from CEG Consulting’s research, interviewing 10,000 families to understand what they wanted from their wealth manager.

Every financial plan is different, and we believe the financial plan, goals, and objectives dictate what investment options are appropriate for each individual family. As we walk through our complimentary second opinion process, we will make you aware of our advisor fee, internal expense ratios from investments, and any platform fees associated with the investment solution we agree upon.

Third Act Wealth Management and LPL Financial are separate entities. Often, when you engage with a licensed financial professional, they will have a custodian they are associated with. This is where your money is held, where you have online access, and where you receive statements from.

We offer a complimentary second opinion process to show you how we work with our clients rather than just tell you. We invest approximately 10-20 hours of our time to earn your trust and provide you with education and clarity on your financial plan. When the second opinion process concludes, we will determine if we are a good fit to partner together.

We have a $1,000,000 minimum for new clients.

We believe a comprehensive financial plan touches on several different areas. Many institutions only offer investment consulting. We believe it’s broken down into several parts: Investment Consulting, Tax Mitigation, Cash Flow Analysis, Estate Planning, Insurance Planning, Charitable Giving, Third Act Planning (Retirement), and Relationship Management.

Your investments are the engine that brings your financial plan to life. Research company Dalbar has shown that we, as human beings, are emotional about our money and that fear and greed often impact our long-term returns. When we partner with your family, we help make logical choices that align your capital with your goals, objectives, and comfort level with risk. We implement a disciplined approach that includes portfolio diversification, continuous market analysis, and regular performance assessments. We utilize comprehensive research, cutting-edge technology, and seasoned analysts to adjust your investments and respond effectively to market dynamics, keeping your financial plan on track.

Our investment philosophy focuses on cost efficiency, tax efficiency, and balancing risk and reward, ensuring your portfolio aligns with your financial goals and risk tolerance.

Disclosure: There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss. Transaction costs only apply to certain platforms at LPL Financial.

Our team is happy to provide you with education and clarity on your financial plan. We ask for a few simple things from you:

1. Cooperation – There are several documents we will need to give you an accurate second opinion. We require these in a timely manner.
2. An open mind – The majority of the people we take through our second opinion process are happy with what they are doing today. We ask, as you walk through this process, if we could provide additional value compared to what you are receiving today, would you consider partnering with Third Act Wealth Management.
3. $1 million minimum – We would love to serve everyone, but our mission of focusing on quality vs. quantity requires us to set minimums.

Third Act Wealth Management was formed after Nick Lalonde worked for some of the largest firms in the country. He realized his clients needed more. He was tired of skating to where the hockey puck was today and wanted to skate to where the hockey puck was going to be. Third Act Wealth Management’s mission is to be the first choice for high achievers as they transition to and live out their Third Act of Life.