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Jean Lee, CFP®, CRPC™ is a wealth manager at Lucia Capital Group, joining the team in June 2024. With over 10 years of experience in the financial services industry, Jean has previously worked for both Bank of America / Merrill Lynch and Wells Fargo. She graduated from Cal Poly Pomona with a B.A. in Business Administration in 2015 and currently holds a Series 7, and Series 66 with LPL Financial. She is also fluent in Korean.
Based in San Diego, CA, Jean provides comprehensive financial planning services, with a primary focus on assisting individuals in the Korean American community. Her passion lies in working with small business owners, helping them with exit planning strategies, RSUs/concentrated stock portfolios, and tax-efficient planning strategies.
Jean resides in San Diego with her partner, Tim, their dog, Maxima, and their cat, Penderyn. In her spare time, she enjoys volunteering, traveling with family and friends, and hiking with Maxima. She is also a board member of the Korean American Association of San Diego.
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It’s my pleasure to share with you some exciting news!
Starting on June 17th, I will be joining Lucia Capital Group and replacing Merrill Lynch with LPL Financial (LPL).
Much of what a broker dealer does on a daily basis happens behind the scenes, so from that standpoint you may not notice anything new, but I’m excited about this affiliation, and I’m confident that you’ll be pleased with the range of services I’ll be able to offer to you as a result.
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. Absolutely nothing will change there. This new affiliation with LCG and LPL will simply allow me to delegate much of the paperwork and regulatory duties to them, rather than having to handle all of that on my own. I want my focus to remain solely on meeting with each of you personally, with the goal of providing you with the best financial advice to help you meet your retirement objectives.
It’s similar to this: a doctor works best when seeing his or her patients all day, and dispensing medical advice to each individual based on their needs. Getting bogged down in medical and insurance paperwork is an onerous task that’s best done by a team of professionals who specialize in those areas. In that regard, I’ve decided to allow a team of professionals to take care of the back-office work for me as well.
So 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. The important part is you need to sign those as soon as possible, because I can’t manage your accounts at LPL until I have your signature on those documents.
This is just my initial announcement to you, and I’ll provide you with further details as they become available. Please note that my contact information, address, and phone number will be changing as well, so please update my information as indicated below.
Jean Lee, CFP® CRPC™
Wealth Manager
(800) 644-1150 x1745 | jlee@luciacap.com
Lucia Capital Group
16789 Bernardo Center Dr. | San Diego, CA 92126
Also, you can download FINRA’s educational communication regarding factors to consider in determining whether to transfer your assets here.
Again, you can expect further correspondence from me with some important details in the coming days and weeks. As always, thank you for the trust you put in me!
Yes. You will need to sign some new account paperwork, advisory agreements, money movement and transfer paperwork in order for me to open accounts, transfer assets and continue managing your portfolio. I will send most of these documents to you for electronic signature, but some may require you to print and sign and scan the documents back to me.
The information used to prepare the documents you receive is information I have in my files. If you have any questions or would like to make updates to any of the information, please let me know. In some cases, such as your years of investment experience and your net worth percentage breakdown, I may round the years or percentages to the nearest 5 or 10 years or percent. If you have any questions, please let me know.
Because I’m independent, I have choices as to what entities I may use to help support me in my efforts to serve you, and I’m constantly looking for ways to improve upon all the services I provide.
This new affiliation with LPL will simply 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. In this industry, there is a LOT of required paperwork that is normally handled by a back-office support staff. LPL can take over those tasks for me, so that my focus can remain solely on meeting with each you personally, with the goal of providing you with the best financial advice to help you meet your retirement objectives.
It’s similar to this: a doctor works best when seeing his or her patients all day, and dispensing medical advice to each individual based on their needs. Getting bogged down in medical and insurance paperwork is an onerous task that’s best done by a team of professionals who specialize in those areas. In that regard, I’ve decided to allow a team of professionals to take care of the back-office work for me as well.
I firmly believe they will be valuable partners with me going forward.
No. Your investments will electronically transfer to LPL. My advice and how I manage your portfolios will also remain the same.
You will likely see a different fee schedule for brokerage-related costs, such as trading costs or IRA fees. Some account-specific fees may be higher or lower. I believe overall my clients will experience lower total costs.
No. While you will need to sign new paperwork to update your distributions to the new broker dealer, no other changes will occur.
Generally no. I’ve arranged for my portfolios to move to LPL as they are and negotiated similar client level fees.
Yes. You will need to sign new account paperwork, advisory agreements and transfer paperwork in order for me to continue managing your portfolio. I will send most of these documents to you for electronic signature, but some may require you to print and sign and scan the documents back to me.
Yes. Once your account is opened and transferred from Merrill Lynch 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 Merrill Lynch 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.
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 me with any questions you may have.
My team will help you establish your online access once the transition is complete, or, if you’d like to set up access sooner, once one account has been opened for you, you can go to www.myaccountviewonline.com and click Sign Up, enter the information requested and follow the prompts to establish your account.
If I set the transfer up from Merrill Lynch, then the new paperwork I send you will change these instructions. If, however, you set this transfer up directly with your bank, using your banks forms, please contact me and I’ll discuss with you what steps should be taken to change the funds transfer to your new LPL account. If you’re not sure, feel free to contact me to review the instructions.
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.
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.
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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