Frequently Asked Questions
Helpful Information When Deciding if Parsec is the Right Fit for You
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We provide investment management, financial planning, tax planning, trust services and
business retirement services to more than 1,700 individuals and businesses in six offices across
Parsec has six offices across North Carolina. Our headquarters is in downtown Asheville and our tax services team is in South Asheville. We also have offices in Charlotte, Winston-Salem, Tryon and Southern Pines. For all of our contact information, please visit parsecfinancial.com/offices
As of June 1, 2020, we have 65 employees and 36 of those provide investment advisory services. Learn more about our team here: parsecfinancial.com/our-people
We do not have a minimum. Some of our Emerging Wealth clients do not have any investable assets with us and they are just charged a flat quarterly fee.
|Asset Level||Annual Rate|
|$1 – $1,000,000||1.00%|
|Next $1 million ($1,000,001 – $2,000,000)||0.80%|
|Next $3 million ($2,000,001 – $5,000,000)||0.60%|
|Next $10 million ($5,000,001 – $15,000,000)||0.40%|
|$15,000,001 and above||0.20%|
Emerging Wealth: $750 quarterly, plus an additional fee for any assets that Parsec manages. This additional fee follows our standard fee schedule above, with a 50% discount on the first $500,000 in assets.
Tax Services: Fees for tax preparation services will typically range between $500 – $1,500 based on the level of complexity. Fees are charged in arrears. We offer Premier Wealth clients tax planning and consultation at no additional charge.
Trust Services: NATCO provides trustee services for Parsec’s clients. Parsec does not receive compensation for this service.
Business Retirement Services: For ERISA-qualified plan (daily valuation) consulting arrangements, the fee schedule is:
|Asset Level||Annual Rate|
|$1 – $1,000,000||0.50%|
|Next $2 million ($1,000,001 – $3,000,000)||0.35%|
|Next $2 million ($3,000,001 – $5,000,000)||0.25%|
|Next $10 million ($5,000,001 – $15,000,000)||0.20%|
|$15,000,001 and above||0.10%|
Yes, part of our wealth management service includes financial planning. We believe this is critical to align our client’s investment strategy with their financial plan. The financial planning process will generally address the areas of cash flow planning, retirement planning, investment planning, insurance planning, tax planning and estate planning. This holistic approach can give clients a greater understanding of the inter-related issues that determine their financial success and provides greater peace of mind.
Parsec was founded in 1980 by Bart Boyer in Asheville, North Carolina. Thus, we are proudly
celebrating our 40th anniversary in 2020! Read our story: parsecfinancial.com/our-story
Parsec has always been fee-only as that is a core belief across our firm. As fee-only advisors, our advice is not biased by sales commissions or other conflicts of interest. Instead, our objectivity aligns our interests with our clients’ interests.
Yes, absolutely! Under the fiduciary standard, advisors are required to put their client’s interests above their own and be up front and transparent about any potential conflicts of interest. Registered investment advisors, better known as RIAs, operate under this standard and always act as fiduciaries. Learn more about how we prioritize ethics and transparency here: parsecfinancial.com/ethics-transparency
As of March 31, 2020, we managed $2.5 billion in assets.
- December 31, 2016: $2,005,201,806
- December 31, 2017: $2,559,399,068
- December 31, 2018: $2,442,313,196
- December 31, 2019: $2,992,247,470
On average, we managed $1.67 million per client as of December 31, 2019.
We firmly believe in the power of long-term investing. Certain asset classes, such as equities, are only suited for long time frames, such as ten years or more. We also believe that the design and diversification of the portfolio as a whole is more important than the selection of any particular security within the portfolio. Moreover, we strongly believe that investors should not attempt to guess which direction the market will go as it is highly unlikely to increase long-term investment returns.
In general, we believe equities are the best asset class for long-term investing for clients with the appropriate risk tolerance. We use fixed income for short-term spending needs and to dampen the volatility of a portfolio. We understand our clients have different needs. Therefore, we have seven portfolio options that we use to address different clients’ specific financial plan, ranging from very conservative (consisting entirely in fixed income or cash vehicles) to very aggressive (consisting entirely of equities).
All three are wealth management services, so a combination of financial planning and investment management. Emerging Wealth clients are those in the accumulation phase of their lives with less than $500,000 in investable assets. Wealth Management clients have between $500,000 and $4 million in investable assets. Premier Wealth clients have more than $4 million in investable assets. We split the services apart so that we can offer custom services and tailored materials to each group. For example, our Emerging Wealth clients normally need more guidance around debt management, budgeting and cash flow planning, whereas our Premier Wealth clients are normally more focused on topics like estate planning and tax strategy.
We serve more than 1,700 individuals and businesses so it is hard to summarize but we have large percentages of retirees, small business owners and physicians.
We work with independent custodians so that your money stays in your name. This helps ensure transparency and accountability. We encourage you to research the security and privacy policies of the custodian you utilize.
We use Charles Schwab & Co., Fidelity and TD Ameritrade.
Beyond guiding you to financial security (which is the biggest benefit in our opinion!), we want to ensure you have a beneficial and fruitful hopefully life-long relationship with us. Thus, we host a variety of thought leadership events (such as our 2019 Longevity Forum and quarterly economic webinars) and other year-round client appreciation events. We send clients quarterly newsletters and monthly emails on specific topics of interest. We also send on-demand emails as needed to keep clients informed throughout difficult periods, such as the 2020 pandemic.
As a client, you have access to Parsec’s client portal, an up-to-date, secure and interactive website where you can view your holdings, performance, asset allocation, transactions, and download your quarterly reports. You also have access to Parsec’s financial planning software to work on your budgeting and savings goals.
Par.sec/par-sek is a unit of distance equivalent to 206,265 times the distance to the sun, or 3.26 light-years. Founder Bart Boyer chose this name strategically for the firm because of his fascination with astronomy and the notion of truly going the distance for our clients.
- Bart Boyer, Founder, Chairman of the Board
- Rick Manske, CFP®, BFA™, Chief Executive Officer
- Bill Hansen, CFA, President, Chief Investment Officer
- Harli Palme, CFA, CFP®, Chief Operating Officer, Chief Compliance Officer
- Travis Boyer, CFA, CFP®, Senior Financial Advisor
- Roger A. James, Jr., JD, CTFA, Partner and Director of Trust
- Gregory D. James, CFP®, Partner
- Michael J. Ziemer, CFP®, Partner
We value continuing education. Below is a list of some credentials our advisors have. You can read more about each credential and see which advisors have which credentials on our team credentials page.
- CFA: Chartered Financial Analyst®
- CPA: Certified Public Accountant
- CFP®: Certified Financial Planner™
- FPQP™: Financial Paraplanner Qualified Professional™
- BFA™: Behavioral Financial Advisor™
- CTFA™: Certified Trust and Financial Advisor™
- MBA: Masters in Business Administration
- CRPC: Chartered Retirement Planning Counselor
- AIF®: Accredited Investment Fiduciary®
- CDFA®: Certified Divorce Financial Analyst®
- ChFEBC℠: Chartered Federal Employee Benefits Consultant℠
- CEBS: Certified Employee Benefit Specialist
- PFS: Personal Financial Specialist
- AAMS®: Accredited Asset Management Specialist®
- CSRIC™: Chartered SRI Counselor™
Per the SEC: “Form ADV is the uniform form used by investment advisers to register with both the Securities and Exchange Commission (SEC) and state securities authorities. The form consists of two parts. Part 1 requires information about the investment adviser’s business, ownership, clients, employees, business practices, affiliations, and any disciplinary events of the adviser or its employees. Part 1 is organized in a check-the-box, fill-in-the-blank format. The SEC reviews the information from this part of the form to process registrations and manage its regulatory and examination programs. Although designed for a regulatory purpose, investment adviser filings of Part 1 are available to the public on the SEC’s Investment Adviser Public Disclosure (IAPD) website at www.adviserinfo.sec.gov. Beginning in 2011, Part 2 requires investment advisers to prepare narrative brochures written in plain English that contain information such as the types of advisory services offered, the adviser’s fee schedule, disciplinary information, conflicts of interest, and the educational and business background of management and key advisory personnel of the adviser. The brochure is the primary disclosure document that investment advisers provide to their clients. When filed, the brochures are available to the public on the IAPD website.”
Using Our 40 Years of Excellence to Help Define Your Path Forward
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