Most frequent questions and answers

Yes. As a Registered Investment Advisor*, Carmichael Hill has a fiduciary responsibility for our clients’ assets that we manage. That means that we are bound by law to act in our clients’ interest and not our own. Stockbrokers and insurance agents are not fiduciaries unless they are also registered investment advisors and acting in an advisory capacity. A non-fiduciary advisor does not work under this obligation.

*Registration does not imply that the SEC has endorsed or approved the qualifications of Carmichael Hill or its respective representatives to provide any advisory services.

No. We are a fee-only Investment Advisor with a fiduciary duty to our clients. We do not sell any financial products including insurance or annuities.

We don’t have any minimums, but most of our clients tend to range from a few hundred thousand dollars to several million dollars. If you’re not in this range don’t sweat it, contact us anyway. We may be able to handle the bulk of your questions in the initial consultation, which is free. If not, we’ll happily provide you with a few other names to check out as you search for a planner that works for you.

We start with a brief 10-15 minute call to make sure that we’re in a position to help. If we’re well suited for what you need, we’ll schedule a no cost/no obligation meeting to drill down further and find common ground. We’ll sign an engagement agreement specifying the scope of work to be completed and associated fees following the meeting if you decide to move forward with us.

If you decide we’re not a good fit, or if we’re not in a position to provide what you need, we’ll happily provide you with a few other names to check out as you search for a planner that works well for you.

We use Charles Schwab as the custodian for our client’s accounts. You will receive statements and documents from both Schwab and us should you become a client.

Anyone can call themselves a financial planner or a financial advisor. Those aren’t legally protected titles, which can create confusion as many brokers and insurance salespeople choose to market themselves under those monikers. A CERTIFIED FINANCIAL PLANNER™ (CFP®) practitioner is a protected title and must be earned.

CFP® certification is widely seen as the most difficult and comprehensive in the industry, spanning over 100 topics and taking an average of 1.5 years to complete. Certificants must adhere to high moral and ethical standards and maintain good financial standing at all times.

We do! Our clients span coast to coast. We can work virtually with anyone that would like to engage us, although we’d love to see you in person when you’re in our neighborhood!

Our clients are billed a fee directly by us. That’s it! It’s our only revenue stream.

We communicate with nearly all clients on a quarterly basis, although sometimes this is more frequent as circumstances dictate.