Boardwalk Capital Management
Scott Sadler is the founder and president of Boardwalk Capital Management, the Southeast’s only wealth management firm that is also a Certified B Corporation. Boardwalk’s social mission is to help as many investors as possible to invest for impact and for a “triple bottom line”.
Atlanta-based Boardwalk Capital Management is an independent Registered Investment Advisor specializing in Sustainable and Responsible Investing. Scott and his team's principals have decades of combined financial experience, providing counsel to individuals and institutions all over the country. They offer both proprietary investment solutions, and premier third-party managed strategies, in order to meet the unique needs of each client.
From the major investment houses to his own firm, Scott has advised affluent individuals, families and institutions more than 30 years, including seven years running a top-ranked emerging markets mutual fund. He has been a Chartered Financial Analyst (CFA) since 1990, and today, he specializes in tax-efficient investing, sustainable (ESG) equity portfolios, social impact investments and renewable energy partnerships.
He currently sits on many boards, and is the Board Chairman of the Green Chamber of the South.
BS, Commerce, University of Virginia
Assets Under Management:
I would separate the oversight/audit function from the investment one. The CPA can keep an eye on what the financial advisor is doing to make sure that everything works together and is above board. Having someone in charge of both functions, while likely simpler, requires that person to be good at everything and concentrates power in one individual's hands.
Cars are seldom an investment. A necessary expense, perhaps. And an item of passion for some, surely. But unless you are buying a classic collectible car, and don't plan to drive it, a car is an expense. Given the situation you described (driving only on weekends), the buy/lease decision is just the tip of the expense iceberg. In short, add up the costs of car ownership: Purchase/lease, taxes, insurance, maintenance, fuel. (It's a much larger number than most people believe.) Then, decide how much you plan to drive (days, miles, etc.). If the answer to the second question is relatively small, then consider short term rentals, Uber/Lyft, etc., as an alternative. It might not fit, but it's an exercise worth doing.
If the answer is I NEED A CAR, then at a minimum, dispense with the idea that one needs a NEW car. To me, leasing a new car is a lot like financing a purchase over a longer period of time. It's never paid off. And in some states, like mine, you pay taxes on the entire purchase, even though you are only leasing it. Very expensive!
In the end, a lease is about getting you to pay for the early depreciation, which is the biggest avoidable cost of car ownership. In exchange for this cost, you get the new car smell more often, higher reliability, warranty coverage, etc. But cars last longer than ever. It's not unusual to see cars for sale that have more than 200,000 miles on them. Check Consumer Reports to judge the reliability of your candidates, and then find a reliable used car to buy. On average, your costs will be lower, even factoring in an occasional repair.
Not sure what you mean by "eligibility", but to answer the rest of your question, funds continuously charge a small portion of the annual fee over the course of the year. So, if you bought and sold in a short period of time, you'd be paying a similar proportion of the annual fee. As in, very little.
Caveats: Watch out for funds that have fees that discourage short-term trading (i.e., a 1% fee if sold within 60 days of purchase). And note that your question pertains solely to management fees, not sales loads. Those are usually charged up front.
If you are buying funds with 0.05% expense ratios, you're off to a good start in managing your costs. Just don't let the tail (fee) wag the dog (fund). Sometimes you get what you pay for with an actively managed fund.
I'm not sure that you have much leeway here since they are unlikely to be able to adjust the plan provisions just for you. Instead, if I were you, I would express my disappointment that the company does not match 401(k) contributions. Then, I'd focus on other aspects of total compensation. Don't forget about healthcare -- deductibles, Healthcare Savings Accounts, and the like.
If you are like most people, you don't have a traditional pension plan either. If that's the case, then they have effectively said that you are "on your own," when it comes to retirement. It's not unreasonable to expect a company to match the first 3% of salary that you contribute. Even small businesses do this. If properly structured, this match permits the senior execs/founders to contribute more pre-tax.
So, my advice to you: Lean on them about getting a better plan for everyone, but negotiate a higher salary and bonus for yourself.
Best of luck!