Why an Over-Diversified Portfolio Is a Problem
June 14, 2023
Meet Carie Phelps
Wealth Manager at Lucia Capital Group
Together, we’ll craft a personalized strategy to help you work towards your financial goals.
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Connect with Carie Phelps
Carie Phelps Associates
Carie Phelps
Wealth Manager
Carie Phelps joined Lucia Capital Group in September of 2024 as a wealth manager and has more than 24 years of experience in the financial services industry. She began her career with Securities Service Network in 2000 and also worked for Securities Equity Group and Wells Fargo Advisors prior to joining our firm. She graduated from Minnesota State University with a B.A. in Finance and received her MBA at Point Loma Nazarene University in San Diego, CA. She currently holds Series 7, 63, 65, and 24 licenses through LPL Financial, as well as a CA Insurance License #0C78036.
Based in San Diego, CA, Carie provides comprehensive financial planning services for her clients, with a special emphasis on the unique challenges women face. Rather than trying to find the next “hot” sector or market asset, Carie prefers to try to achieve better performance by managing downside risk, which is the very essence of our Bucket Strategy®.
Carie enjoys spending her free time with her husband and her two young children. She also enjoys traveling, Pilates, volunteering at her kids’ school, and attending their many sporting events!
See Carie in Action
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Information About My Transition to Lucia Capital Group and LPL Financial
About the Transition, Frequently Asked Questions, and Next Steps
With the rapidly changing environment, related to the economic and financial sectors. I have been researching how to best serve my clients moving forward.
Starting on October 1, I will be replacing Securities Equity Group (the Broker Dealer firm that provides regulatory compliance and support) with LPL Financial (LPL).
Much of what a broker dealer does on a daily basis happens behind the scenes, so from that standpoint you likely will not notice anything new. I’m confident that you’ll be pleased with the range of services I’ll be able to offer to you as a result.
Additionally, I will be closing my current RIA firm, J2X Legacy Advisors, and joining Lucia Capital Group in the same capacity as a wealth advisor.
The most important thing to note is that I am now, and will continue to be going forward, your financial advisor, just as I always have been. This new affiliation will allow me to delegate much of the paperwork and regulatory duties to them and to my new extended partners, rather than having to handle all of that on my own. I want my focus to remain solely on understanding your unique needs, with the goal of providing you the best financial advice.
Here’s what’s next. Starting today, I’ll be updating my account agreements with you so that I can continue to provide you with ongoing advice and management of your accounts, just as I do now. This is very important, and I’ve made the process simple for you. You’ll receive several emails for your electronic signature. Please sign and return those forms as soon as possible.
Please note that my email and address will be changing as well, as indicated below.
cphelps@luciacap.com
Lucia Capital Group
16789 Bernardo Center Dr. | San Diego, CA 92126
Also, you can download a copy of FINRA’s educational communication regarding factors to consider in determining whether to transfer your assets here.
You can expect further correspondence in the coming days and weeks. If you have any questions do not hesitate to call me or email me.
Is there anything I need to do?
Yes. You will need to sign new account, advisory agreements, money movement and transfer paperwork in order for us to open accounts, transfer assets and continue managing your portfolio. We will send most of these documents to you for electronic signature, but some may require you print and sign and scan the documents back to us. Additionally, throughout the transition you may receive additional paperwork to be signed.
What if I have questions regarding the documentation I receive?
The information used to prepare the documents you receive is information we have in our files. If you have any questions or would like to make updates to any of the information, please let us know. In some cases, as in the case of your years of investment experience and your net worth percentage breakdown, we may round the years or percentages to the nearest 5 or 10 years or percent. If you have any questions, please let us know.
Why did I decide to make a change to LPL?
Because I’m independent, I have choices as to what entities I can use to help support me in my efforts to serve you, and I am constantly looking for ways to improve upon all of the services provided.
Following extensive research and consideration, I am proud to announce that I am replacing Securities Equity Group (the Broker Dealer firm that provides regulatory compliance and support to J2X Legacy Advisors LLC, with LPL Financial (LPL), the country’s largest independent broker dealer firm.
LPL Financial is one of the leading financial services companies and is the largest independent broker/dealer in the nation, representing more than 22,000 independent financial professionals across the country (as reported by LPL). As an LPL Financial professional, we are free to choose the products and services that address your needs because LPL Financial does not offer any proprietary products. This commitment to objective financial advice helps to preserve the integrity of our investment advice. For decades, the firm has served as a partner to financial professionals, supporting them in their goals of helping to protect and grow clients’ wealth. We are excited about our new affiliation, and we’re confident that you’ll be pleased with the range of services you will receive as a result.
Additionally, I will be closing my current RIA firm, J2X Legacy Advisors, and joining Lucia Capital Group in the same capacity as a wealth advisor.
I firmly believe that LPL and Lucia Capital Group will be valuable partners as I move forward.
Will my investments change?
Only if an investment is not transferable will it need to change. All other investments will electronically transfer to LPL. Our advice and how we manage your portfolios will also remain the same. We will have access to additional services and capabilities we have not had previously.
Will my brokerage fees change?
You will likely see a different fee schedule for brokerage-related costs, such as trading costs, IRA fees, and Alternative Investment fees. Some account-specific fees may be higher or lower. We believe overall our clients will experience lower total costs.
Will my distributions change?
No. While you will need to sign new paperwork to update your distributions to our new broker dealer, no other changes will occur.
Will my advisory fees change?
Generally no. We have arranged for our portfolios to move to LPL as they are and negotiated similar client level fees.
Will I have to sign new documents?
Yes. You will need to sign new account, advisory agreements, money movement and transfer paperwork in order for us to open accounts, transfer assets and continue managing your portfolio. We will send most of these documents to you for electronic signature, but some may require you print and sign and scan the documents back to us. Additionally, throughout the transition you may receive additional paperwork to be signed.
Will my statements change?
Yes. Once your account is opened and transferred from Securities Equity Group to LPL, you will begin receiving new statements from LPL. For business held direct, the statement will remain the same (from the sponsor or carrier) but the name of the Broker/Dealer will be updated to LPL. As accounts transfer, you will receive statements from Securities Equity Group showing your account value is zero and a new statement from LPL showing the value of your accounts. The timing of these statements can be different by a few days.
Will I begin receiving information from LPL?
Yes. Once an account is established at LPL for you, you will begin receiving regulatory and disclosure notifications from LPL regarding the account(s) opened, your document settings, changes made to information on your account, the transfer of assets and more. You can review the information listed and contact us with any questions you may have. If you would like to have most notifications sent electronically, you can register for LPLs Account View and select paperless settings for statements, tax documents, trade confirmations or important documents.
How do I get access to my accounts at LPL online?
We suggest waiting until your accounts are opened and all transfers completed before establishing your online access. When you would like to set up access, go to www.myaccountviewonline.com and click Sign Up, enter the information requested and follow the prompts to establish your access.
If I have set up a direct deposit or electronic funds to transfer from my bank account, do I need to do anything?
If we set the transfer up from Securities Equity Group, then the new paperwork we send you will change these instructions. If, however, you set this transfer up directly with your bank, using your banks forms, please contact us and we will discuss what steps should be taken to change the funds transfer to your new LPL account. If you are not sure, feel free to contact us to review the instructions.
How can we help you the most?
Schedule a meeting with Carie Phelps
Step 1: Introductory Call
It all starts with a phone call that allows us to get to know each other and to find out if our advice and philosophy are a good match for your situation. During this call we’ll get into what your specific goals are, where you’d like to be in the future, and how we may be able to help you get there.
Step 2: Meet with Your Advisor
During this meeting, you'll see exactly how we would implement your strategy and what it would look like to work together. At this point, we'll ask you to take some time to think about whether you believe if we're the right fit for you. It's important that you make an informed decision, and we encourage you to take whatever time is necessary.
Step 3: Getting Started
If we all believe this is a good fit, we'll begin the process to get you on board as a client of the firm. We'll take you through our client agreement, your investment policy statement, and the initial logistics of implementing your financial plan.
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