Broker Check

FAQ

  • Hanover prides itself on our team’s robust educational background and tenured experience, but this wealth of knowledge does not mean we view ourselves as investment gurus. Research has consistently shown that, over time, no individual stock picker can consistently outperform the market. Instead of picking and choosing individual stocks, Hanover constructs diversified portfolios that are driven by macroeconomic analysis, targeted to clients’ personal risk tolerance, and focused on driving down costs. Rather than chasing returns from one quarter to the next, Hanover’s portfolios are designed to generate true wealth over the long term.

  • The term “investment adviser” can encompass many things. Everybody from a broker-dealer at a major financial institution to a financial planner who manages investments via a turnkey platform can call themselves as an “adviser.” A registered investment advisor (RIA), however, is registered with the Securities Exchange Commission (SEC), which provides an additional layer of oversight and regulation, so RIA clients have the peace of mind knowing that their advisor is always working in the client’s best interests. RIAs are held to a fiduciary standard, meaning Hanover has a legal and ethical obligation to always put out clients’ interests first, avoid conflicts of interest and ensure complete transparency. Rather than a guardrail preventing us from doing certain things, Hanover views our status as a truly independent fiduciary advisor as an empowering thing, because we are not beholden to any one company’s products or looking for the investments that would best pad our bottom line; instead, we are able to focus on finding the best investments to serve our clients’ financial goals.

  • As a fee-only RIA, Hanover only makes money in one way: a flat fee based on the assets under management (AUM). This means we receive no commissions, transaction fees, or other hidden costs. Many advisors are “fee-based,” meaning that, in addition to an AUM fee, they receive additional compensation in the form of commissions, transaction fees, and service charges, which could incentivize them to recommend specific products or transactions that would pad their bottom line. As a fee-only RIA, Hanover’s only incentive is to increase your wealth and help you achieve your goals.

  • Hanover prides itself on working with clients in every phase of their financial lives, whether you have already accumulated a good deal of wealth and are looking for retirement income and estate planning or are just starting out and looking to fund goals like homeownership or your children’s education. Oftentimes, investors who have amassed a certain level of wealth feel like their financial goals have been met. They believe that they have earned and saved a sufficient amount to fund retirement, children’s educational costs, and estate planning, but the funds are typically spread out across a variety of 401k’s, IRAs, individual investment accounts, and savings at the bank. Working with Hanover can help coordinate your resources and create a comprehensive financial plan that will allow your holdings to act synergistically, better managing taxable events, spend down strategies, and ensuring that the wealth you worked so hard to accumulate is working for you as efficiently as possible. Conversely, investors just starting out sometimes feel like they do not have enough to meaningfully invest, but young investors have access to the most valuable resource of all: time. The power of compounding means that starting out early, even with limited contributions, can put young investors far ahead of where they would be if they had waited. If two people save $100 a month for retirement, but one starts at 25 and the other at 35, the early saver will have nearly twice as much by age 65. Hanover has a wealth of experience working with self-employed entrepreneurs who face unique challenges in retirement planning and financial planning. Regardless of where you are today, Hanover can help get you where you want to be in the future.

  • After an introductory meeting to discuss the client’s goals and concerns, the first step Hanover takes when working with a new client is to perform a comprehensive risk assessment. Hanover goes above and beyond assigning a generic risk category like “aggressive” or “moderate” and employs risk management software that identifies a particular risk number that we will build the portfolio around. The risk number also shows how much a client portfolio stands to lose or gain at that risk level, so clients are always aware of the material impact different risk tolerances can have. Clients will also meet with someone from Hanover’s financial planning team to discuss long- term goals, such as retirement income planning, educational expenses, estate planning, tax management, and any other hurdles that clients need to overcome to achieve financial security. During the initial 30 days, Hanover’s operations team will also work with clients to ensure that all accounts at BNY Mellon, Hanover’s custodial partner, are established correctly. Hanover’s relationship with BNY also affords clients the opportunity to pursue lines of credit, mortgages that are typically below market rate, and other concierge banking services that they may need. Hanover’s operations team will also assist in establishing and accessing your account with Black Diamond, which provides third-party monitoring and reporting on your assets, available 24/7 and updated at the market’s close each day.