ROSS ANDERSON:

Hi. Ross Anderson, here. I'm one of the certified financial planners with Motley Fool Wealth Management, and I am joined by three of my colleagues here today, Nick Crow, Megan Brinsfield, and Jill Ralph. Thank you guys for joining me.

NICK CROW:

Hey, Ross.

ROSS ANDERSON:

We're getting together just because we've got one more day before the bonus deposit expires and we've got a lot of great questions coming in from prospective members — people that have been considering Motley Fool Wealth Management. They're excited about it, but they aren't quite sure whether or not it's the right thing for them. So we just wanted to sit down with you guys and talk about what they'd be signing up for, what that product looks like, and what the experience really is going to be. And we're really excited to go through some of that together.

Nick, I really just wanted to start with you. Motley Fool Wealth Management is sort of a new thing, just coming up on about two years old. Can you tell us why Motley Fool Wealth Management is here? What's the purpose of it and why has it been created?

NICK CROW:

I'm really surprised at this question, but it's really an exciting answer, I think. Motley Fool has been serving stock ideas to generations of investors for a long period of time, but that level of service isn't suitable for most people. A lot of people like to do other things with their time rather than monitor their email and try to choose which stocks they should pick themselves.

We recognized that, and so we're here. And by we, I mean Motley Fool Wealth Management's here to bring Foolish investing to people's actual portfolios without them having to do almost anything. Really! They have to join, they have to figure out a way to get their money over to Interactive Brokers, which is a fairly easy process. There's industry-standard ways to do that, and then we take over all the management for them. I believe we'll be able to get more consistent outcomes for people than they would be able to achieve on their own, and I'm really excited about that.

ROSS ANDERSON:

Megan, you're the director of financial planning for Motley Fool Wealth Management. Talk to us about who's using this service, who Fool Wealth is trying to help, and how that's working.

MEGAN BRINSFIELD:

Our clients are mainly folks that, as Nick said, have decided that managing their own portfolio is really too cumbersome for them, and they're looking to offload that responsibility to managers that we have on staff. And with our management team, we have portfolio managers that are watching over these accounts on a daily basis. We have traders who are monitoring the accounts on a daily basis, and so that's really work that you don't have to do.

My team, including myself, you, and our colleagues is really responsible for shepherding our new clients into this program and making sure that the accounts that they've set up are right for them and are appropriate for their goals. That's why we offer a 30-minute onboarding appointment to everyone that joins — so we can really have that personal connection to go along with this automated, easy, and convenient account management.

ROSS ANDERSON:

That's fantastic. Now Jill, many of the folks that join us at Motley Fool Wealth Management have historically been members of one of the Motley Fool, LLC's newsletter services, and maybe have been following the Fool for a long time. How are the offerings at Fool Wealth different from those newsletters?

JILL RALPH:

It's a great question. I think the first thing you need to remember is that we are actually a separate entity. We are a registered investment advisor at Motley Fool Wealth Management and so although we're sitting here in the walls of The Motley Fool, we are a different company.

So what we've chosen to do is build these SMA strategies for our clients that are really inspired by the philosophies that people may have come to know and love, like Million Dollar Portfolio, PRO, Supernova, and Tom's Everlasting Portfolio. So we've got similar blood, but we're operating differently and, as Nick and Megan were talking about, it's not the do-it-yourself method. It's more of the "we'll-do-it-for-you" method.

NICK CROW:

And just to add on there, we've got human portfolio managers who understand that philosophy very well, but they're picking all their own stocks and all their own research, and they're really helping customize these portfolios for our clients.

ROSS ANDERSON:

That's great. As we think about what we have, here, at Motley Fool Wealth Management, it looks somewhat similar in cases to what's called a robo-advisor, and there's been some new players in the investing world that are under that kind of moniker. How is Motley Fool Wealth Management different from that and what's the experience like with the Fool Wealth team?

NICK CROW:

I would say the typical definition of a robo-advisor, for those watching at home who might not understand that term, is an online investment advisor who's providing asset allocation advice and investing their clients in ETFs, so it's a passive investing approach. They're making no attempt to outperform the market or any particular index.

Honestly, I think robo-advisors are part of the good guys. There are fiduciaries, out there, who are doing the best they can for their clients in a very low-cost way. I think they're adding value on a net basis.

But for me, personally (someone who believes that good stock picking and good investing has the potential to outperform the market) that's something that I'm proud to strive for. There's a real differentiator right there — the active management our portfolio managers are doing and offering on behalf of our clients versus that passive strategy.

Also, many of those passive strategies are purely automated. And I think it's great — the time-saving ability of automation that it might bring to those firms and their ability to scale their costs — but automation isn't the same thing.

I would consider ourselves more of a hybrid advisor. I've got a great team — these three Fools here — plus seven portfolio managers. Lots of financial planners. Three traders. Real people who are working on behalf of our clients. I think there's a material differentiation between the human approach — with active management — from a robo approach that's only offering passive management.

JILL RALPH:

And I might add onto that. People watching may hear us talk about limiting the number of seats that we can have, here, right now for Wealth Management, and that's because I think another differentiator that Megan touched on is that we're providing a high level of personalized service as you're coming in the door. We want to know who you are, and all about you and your accounts before we take you through the SMA strategies that might be right for you. And I think that is a level of service where we're different than a robo-advisor.

ROSS ANDERSON:

So Megan, as a financial planner, as you think about these portfolios and how they might apply to people at different phases in their life (whether they're accumulating, or nearing retirement, or even in retirement) how does the Fool Wealth team help somebody through that process and what does that look like on customizing that portfolio to make sure that it's the right fit for them?

MEGAN BRINSFIELD:

A great question, Ross. So if anyone's thinking about joining, they're wondering how we're going to make sure that this portfolio is appropriate for their phase in life. And the first thing that we do, actually, when you log into Fool Wealth, is ask you about yourself and about your market temperament and about other aspects that would lead to our risk tolerance for you and an appropriate asset mix.

And we're going to propose that your assets be allocated across as many asset classes as we can get for you based on your investment size and that's really a starting point. We usually then have a conversation with a member of my team to go through and talk about why you might want to adjust that proposed allocation.

Our default is to assume that any money that you're giving to us is everything that you have, and so there might be mitigating circumstances where you would want to be more risky in your SMA, or less risky, and we do allow for that flexibility.

ROSS ANDERSON:

That's a great question that we'll get into hopefully a little bit deeper, but just the amount of risk that's being taken. Jill, as you think about different investors, what's the minimum level of risk that people are taking and the maximum that people are taking in these SMAs?

JILL RALPH:

There's not a hard-number answer there, but I think, as Megan was talking about, we spend time getting to know you and how comfortable with risk you actually are with your account, whether that's a taxable account or a tax-deferred account. And so both through the concierge onboarding appointment (where we can talk to you and better get a sense of your risk profile), and the online profiling tool, we're working with you online and presenting what we believe is a suitable portfolio, but then giving you the option.

"I'm a little scared of the market right now. I think I might tamp down my equity exposure and maybe up my fixed income exposure." Or, "You know what? Now's a great time to buy, so I'm going to do the inverse there, and bring fixed income down and up my equity."

NICK CROW:

When we think of risk, we think of a couple of different things. And one of those things is going to be the permanent loss of capital. And the best way for us to mitigate the permanent loss of capital is one, invest in companies that we understand and we believe in, and that we think have a low probability of going to zero or going bankrupt.

But two, building portfolios that we think match your temperament best, because the biggest risk we have for permanent loss of capital is that when the market gets rocky, you change your mind, and you exit that equity or fixed income portfolio and go to cash. You take what might be temporary paper losses and make them permanent losses, and that's a permanent loss of capital that is very hard to recover from, and that's what people are probably scared of.

So we do our very best to build a portfolio based on the answers to our questions that we think you'll be able to ride out, even when the market inevitably drops. I mean, the market dropping is not a new factor. We know it has occurred. It's happened this past month and it's going to happen again in the future, so it's one of those things. We have to just build portfolios that allow you to ride that out.

MEGAN BRINSFIELD:

I think we hear that question a lot. People want to know, "How do you know this is the best portfolio for me?" And really the best portfolio for you is the one that you're going to stick with, so we want to get to a point that you're comfortable with how we're investing for you so that you do ride out those market fluctuations.

ROSS ANDERSON:

So for somebody that is setting up one of these accounts and just mechanically has maybe not had a separately managed account in the past, can you talk about the ability to withdraw money? What does that process look like? Megan, you're on the phone helping people with this pretty regularly. What does that look like for you and the customers?

MEGAN BRINSFIELD:

Well, the first thing to keep in mind is that we really want you investing money that is long-term money. So if you have short-term needs that you're anticipating (an upcoming purchase or ongoing cash needs to fund your lifestyle for the next 12 to 36 months) we want you to keep that separate from the SMA, because we want to allow time for these investments to grow and the portfolio managers' thesis to play out on these stocks.

That being said, we do understand people have needs that they need to withdraw (for example, required minimum distributions for retirees), and so we do facilitate withdrawals on a consistent basis. You would just reach out to our team, tell us how much you want to withdraw, and our traders will then liquidate enough to fund that withdrawal.

JILL RALPH:

I think one great thing is Separately Managed Accounts may be a foreign term to many people. It's great to remember it's your account, so even though the Motley Fool Wealth Management team is investing on your behalf, it is still your account. You can log in. You have what we'll call "ultimate control" of that account, even though the day-to-day management of the portfolio is being done by Wealth Management.

 

ROSS ANDERSON:

That's a great point. Thank you. So what I'd love to do is transition to some of the questions that we have gotten from prospective members. Just to be clear, we're not offering personalized financial advice. Certainly that's something that you will get from the Motley Fool Wealth Management team when you join the service, but more generally here, as we talk about these today.

We've got a question from John. I think we touched on this a little bit, but John asks, "As a retiree, too much risk in my portfolio is a big concern for me. Does Fool Wealth use any risk management tools to prevent the loss of funds below my initial investment?"

NICK CROW:

John is asking a question here, and what it sounds like he really wants to know is if he puts $100,000 into his account today, will it stay at least $100,000 and stay the same or get bigger? And in no case does he want to see that at $99,000. I don't think that's a realistic expectation for any investor to have. Investing is putting capital at risk to earn more capital in the future, and he's asking not to put any capital at risk, essentially. I don't think that's the right expectation.

That said, what I also see, here, is someone who might not be particularly risk-tolerant. So Megan's earlier recommendation would be John, don't put any money in here that you're going to need over the next 12 to 36 months so that we can build a conservative portfolio where you won't have a need to draw from it and therefore, if it's temporarily down to $99,000, in our example, it's not a problem. We'll be investing in investments that we think have a positive-expected return, so when you do need that money, we expect that you'll be in a better place than had you not invested at all.

So as far as risk management is concerned, we use asset allocation and diversified portfolios across those strategies to minimize risk. So minimizing business risk. Minimizing risk going into different industries. Minimizing interest rate risk to the extent that that's possible through a laddered fixed-income strategy. There's lots of risks we're looking at mitigating, but the risk of losing any value — that's not something we can control for and we wouldn't expect that there's any place that can do that for him.

ROSS ANDERSON:

That's a great answer. We've got another question here from Larry, and Larry wants to know, "I know that your SMAs will let me have another account related to a different Social Security number along with my own, but I was wondering how many different accounts can be managed under a single Social Security number?" So if Larry's got more than one by himself, can he have his IRA and taxable account managed by Fool Wealth?

 

 

JILL RALPH:

Yes, Larry. I think one beautiful thing about joining us at Motley Fool Wealth Management right now is that it's an unlimited number of accounts for you and this other Social Security number or Tax Identification number. So the answer is yes. Come on in. We've got you covered. We can handle the accounts, the IRAs, taxable accounts, joint accounts.

ROSS ANDERSON:

So if he's one or more of each of those, we'll just do all those?

JILL RALPH:

Yes. So we're advising, as you guys know, on an account level. What Larry could expect, here, is first he'll come and talk to us about his IRA. We'll get an understanding of his risk profile in that account and we'll recommend an allocation for him there. Then we'll have him come back through for the next account. Then we'll have him come back through, maybe, for his wife, or his child and have them come through. They may have a totally different risk profile, so we'd want to advise on their accounts differently.

ROSS ANDERSON:

And Megan, one of the things along that same line that we've seen people do is think about their accounts maybe in different risk classes. They might have some assets that may be more risky in their mind — that's like a longer-term bucket for them — versus something that may be spent in that three-to-five year time frame, as we were talking about might be appropriate. Can you talk about how people have been structuring that and maybe using the tool in that sort of way?

MEGAN BRINSFIELD:

That's right. We're going to, as Jill said, start with a basic allocation for each account and people can modify the allocation from there. So if someone opens a Roth IRA, for example, for many people that is really much longer-term money maybe set aside for heirs, so it has a longer time horizon. It can handle more volatility, and so you could dial the risk up on those accounts. Whereas a taxable account — or an IRA that you know you're going to be drawing from over the course of time — they might want to be more conservative, and so you have that flexibility on an account-by-account basis.

ROSS ANDERSON:

Nick, we get the question a lot, as well, that if I set my risk tolerance now, or if I set it with the way that I'm comfortable, am I able to change that moving forward? Is that something that's going to shift?

 

NICK CROW:

I actually expect people to do that. So if you take it just over the course of your investing life, which for most people is going to be multiple decades (20 to 40 to 60 years wouldn't surprise me as to how early you started investing), over that period of time I expect your risk tolerance is going to change, as well as your time horizon.


If you're a young person investing, and it's a very long time horizon, or if you're in semi-retirement, you might be drawing somewhat regularly from your investments. In both those cases, we're going to expect all people to move through those life stages and with it, their risk tolerance might change with it.

So on annual basis, at the very minimum, we ask our clients to come back through and just have that conversation with us and let us know that something's changed, and we'll serve up new advice to you, which you have the opportunity to adjust, as well.

ROSS ANDERSON:

Megan, this is one I want to direct to you. This question comes from Joyce and she said, "I currently have accounts across several brokerages, including two Roth IRAs. A small 529 for my kids. Will you take care of moving these accounts over, and what about moving over my taxable annuities?"

MEGAN BRINSFIELD:

These are great questions, so it's important to revisit the account types that we can manage and those are taxable accounts, IRAs (including Roth IRAs) as well as revocable trusts. So if you have accounts that are outside of those parameters, we wouldn't be able to manage them at this time, so 529 accounts are not part of the account types that we handle. Annuities are its own sort of animal. We wouldn't want to presume to know if you can move those over or not. It may require a liquidation ahead of time and certainly there are special considerations with each individual annuity.

What is important is that when Joyce asks if we will take care of moving these accounts over — we're here as support for that process, but we are not actually doing that for you. What happens is when you set up the account at IB, IB wants you to tell them what funds to expect to come in. We call that a deposit notification, and then you would initiate transfer with your existing brokerages.

JILL RALPH:

And just in case listeners might not recognize what IB is, that's Interactive Brokers. We're using a little inside baseball, here. That's our brokerage partner that actually houses your SMA account. So we aren't holding the money for you. We've partnered with Interactive Brokers, where you'd go and create your Separately Managed Account that we would then come in and manage for you.

NICK CROW:

And why can't we do a 529? It sounds kind of mean when someone has a small 529 for their kids and we aren't willing to help them out with that. What's the reason behind that?

MEGAN BRINSFIELD:

Part of that is because the money is invested for someone else. We have your profile, your risk tolerance, and investment plan. We don't know anything about the potential beneficiaries of those plans. Additionally, each state has its own 529 and investment options, and so at this point it's just a very cumbersome account to try to have external management on.

ROSS ANDERSON:

I want to go back to the question about the annuities, because it's not necessarily included directly with the SMAs, but Motley Fool Wealth Management does do financial planning. If Joyce wanted somebody to review these annuities, is that something that your team can do, Megan?

MEGAN BRINSFIELD:

Absolutely. What's great is when we talk to people, a lot of folks want to say, "This is great investment advice for my SMA. I have these other factors to consider in my personal life." And something like holding one or more annuities might be something that they want to consider as part of their overall investment plan.

And so we do offer some financial planning packages that could be added onto the SMA service on an a la carte basis. You just tell us which package sounds appealing to you and we're happy to deliver on that. And a lot of times, it helps to add some color to the conversation around the investments.

ROSS ANDERSON:

We've got another question from Rocky. Rocky asks, "I'm considering enrolling in the Wealth Management program and I have a question about how much control I have over my money. For example, can I move or sell stocks in the SMA myself?"

NICK CROW:

That's a great name. Rocky. One thing you need to consider, here, is by hiring professional asset managers to take care of your portfolio, you're freed from having that control. You no longer have that responsibility. So I'd say that's a huge benefit. But no, we don't provide you the opportunity to buy and sell from this account. That's not something that you need to do any longer. Go play golf or go boxing.

That said, if there's stocks in your portfolio, you can move stocks from your other accounts into this one, here. So we support the ACATS transfer process that allows you to fund this account with a stock portfolio. You can also, if there's something in here and you wanted to move it out, you could have that conversation with us and we could move a stock out that you have moved into another account for other reasons. We've done that on specific cases and on a number of occasions. But I really need to hear, Rocky, that you understand. You're handing over the control, here, because you no longer want that responsibility and think that we will do a better job for you.

ROSS ANDERSON:

Fantastic. Nick, this may also go to you, as well. Robert asks, "I'm a member of Motley Fool PRO and I'm consider joining your SMA service to let you manage the trades for me. Regarding the SMA PRO strategy, who will decide which options trades are made in my SMA? Will you follow Jeff Fischer's recommendations," (who is the portfolio manager or the lead adviser to the Motley Fool's PRO newsletter), "or will the PRO SMA manager make his or her own trading decisions?"

NICK CROW:

It's a good question and we get this one a lot. I'm sure you're serving this up to me because prior to Wealth Management, I worked on the Motley Fool PRO service with Jeff Fischer and now in Wealth Management we run a completely separate strategy from Jeff's. We follow the same philosophies there, which is a philosophy that's rooted in an absolute return strategy and use many things like the options that were mentioned here in Robert's question as well as shorts, and ETFs, and ways that we can really express a thesis in a number of different ways.

In this particular case, who will decide which options to trade? Bryan Hinmon is the lead portfolio manager for Wealth Management for the PRO strategy, and though he's following that same philosophy as Jeff Fischer, the options strategies that someone sees in their portfolio could be completely different from Jeff Fischer's, so they're not making those same decisions. The portfolio risks that he's trying to mitigate are individual and specific to the SMA clients that we have and have a totally need than the newsletter that's run by Motley Fool and Jeff Fischer. I think that's a complete answer.

ROSS ANDERSON:

Absolutely. Megan, I think this one is great for you. Matthew asks, "I have a brokerage account and would like to transfer it over to Motley Fool Wealth Management. Would this be taxed as income if I were to liquidate the account? What's my best approach here?" As our resident CPA, can we talk about some of the tax implications of moving an account to Fool ONE?

 

MEGAN BRINSFIELD:

Yes, and I thank Matthew for asking a tax question in this forum. One thing that you should keep in mind is that when you do that ACATS transfer, you're transferring over existing stock holdings. What our traders are going to do is actually take a look at if there are any stocks in common with the model that we would be investing you in anyway.

And so we're not going to just carte blanche sell everything. We are going to retain any positions that are in common with the model. They may need to be rightsized — buy up or sold down a little bit. But that is important to consider if you're transferring over positions that have a large embedded gain. Any sales will have capital gains implications, so you want to take a look at that before you commit to moving that money over, because once you transfer that money to Interactive Brokers and you've given us the green light to trade on your behalf, we're going to assume that those are positions that can be liquidated and reinvested in our models.

NICK CROW:

What sort of accounts? Let's talk about a little bit further refinement, here, since our clients have sent us all sorts of different stocks and all sorts of different accounts. What accounts don't they have to worry about this particular problem with?

MEGAN BRINSFIELD:

If you have IRAs or Roth IRAs. Those are the accounts that you're not going to see immediate tax implications from buying and selling within those accounts. You're only going to see the capital gains implications from taxable accounts, which would be your brokerage (either individual or joint) or that revocable trust account.

JILL RALPH:

I might put another plug in, now, for the concierge onboarding, because we know that your situation is truly your own, and so in these specials (they're one-on-one conversations with the financial planning team) you can bring these things up and have these conversations with Megan and the rest of the team.

ROSS ANDERSON:

Jill, I'm going to come right back to you because we get a lot of questions about what level of communication people are going to get from the Fool Wealth team. If they move to this program, maybe they're used to one of the Motley Fool's newsletter services that sends them quite a few emails about things that they might consider in their accounts. What's the communication level like from Fool Wealth and can you walk us through that?

 

 

JILL RALPH:

Sure. I think when you first join at Fool Wealth, you're going to get a lot of communication from us because we want to make sure we answer all the questions as you're getting onboarded with us and familiarizing yourself with how the service works. We're going to prompt you along the steps from creating your account at Interactive Brokers all the way through to funding it and then give you that congratulatory moment when you've finished funding and we finally start trading for you.

We really want to be relevant to you in your inbox, not noisy to you, so I think if you've come from The Motley Fool, LLC newsletter world and you're used to getting maybe daily emails from a newsletter service, that's not going to be us. We want you to hear from us when there's something about your account, your portfolio that you need to hear about. We've instituted a quarterly update from the portfolio managers so you'll get to hear how they're thinking about the market, a little review over the past quarter, and maybe a little forward-looking information. What they're expecting from the market.

And one beautiful thing that I really love is we're constantly asking for feedback on how we're doing so that clients can help us shape the service going forward. We want to know. If you do want to hear from us all the time, maybe we'll figure out a way to ratchet up the communications with you. If you want to be on auto-pilot, and we'll talk to you in a few years, that's good, too. We really want to make this service right for you because as we know, no two investors are the same.

ROSS ANDERSON:

We do have a question here from Ron. Ron asks, "My wife and I are both 66 and retired. We're exploring a more comprehensive investing strategy to suit our needs. Can you tell me how often you make investment changes in the SMA strategies, what those changes will be based on, and how will I know what those changes are?"

NICK CROW:

Boy, a lot of things in there. So I commend you on looking for a more comprehensive investing strategy. I don't where you're coming from. Maybe it's newsletters or whatever, but recognizing that your portfolio doesn't necessarily match your specific situation is a big step for a lot of investors, and I think a very good one to make.

We talked about how often we make investment changes to the SMA strategies — as often is as necessary. That seems like a cop-out, but what we really have, here, is a team of seven portfolio managers and their sole responsibility is managing portfolios. So they're looking at that portfolio every day and making sure it's invested exactly how they want it to be.

They're looking at earnings reports, and market news, and setting their own capital market expectations, and so when they're looking at a stock and they're like, "You know what? That stock is down today and I would like to add 1% in here, because I think that's a smart decision for these portfolios," they're going to add 1% to that stock, let our traders know, and they're going to implement those trades in our clients' accounts.

Conversely if they go, "Hey, you know what? Something's really changed in this industry here and I no longer have the same confidence in this industry that I used to," they might sell a number of different stocks and industries, lighten up our risk there, and invest somewhere that they're more satisfied in. So sometimes there will be a flurry of changes, all in a couple of days, as they're morphing that portfolio to meet their thesis or their overall picture. So as often as is necessary.

Oftentimes, though, we're long-term buy-and-hold investors. It's really boring. Like nothing's going to happen. They like the portfolio and like nothing's happening for weeks on end. We only make changes when we think it's going to be better for your portfolio.

JILL RALPH:

And again, with the Separately Managed Account type, it's your account, and so there's transparency into what we're doing at any given time. You can log into your account, see all your holdings, your transaction history just like you can in any brokerage account.

ROSS ANDERSON:

So they can see the actual stocks that they own in these accounts all the time.

JILL RALPH:

Absolutely.

NICK CROW:

And the actual trades. Like they'll see them actually go through as if they made them themselves. It's completely transparent, all the changes that go through.

What is a little bit different is if you're a newsletter subscriber used to getting an email saying, "Hey, we're going to do this thing," and you used to think real hard and go, "Maybe I'm going to do this thing, too. What am I going to sell so I can make that purchase," you don't have any of those decisions and therefore we're not communicating all those same reasons to you. But no one has to be there to convince you to take an action. We're taking action on your behalf, so there's a little bit less upfront communication in that case.

ROSS ANDERSON:

So it's almost like if people want to know what the portfolio managers like, they should just look at their accounts and see what's in there.

 

NICK CROW:

Exactly. Exactly.

ROSS ANDERSON:

Those are all the stocks that they like the most, that's why they bought them for you.

NICK CROW:

You got it.

JILL RALPH:

Exactly.

ROSS ANDERSON:

Fantastic. Megan, your team (and myself included) have been answering a lot of questions inbound for stuff like this. If people have additional questions, where should they send them?

MEGAN BRINSFIELD:

We have online support through our question and answer function if you send us an email at AskUs@FoolWealth.com. A member of my team will get back to you. We are also on the line 9:00 to 5:00 every day ET at 1-844-408-4391.

ROSS ANDERSON:

And just in case you missed that, I'm sure that's on the screen.

MEGAN BRINSFIELD:

Probably below here.

ROSS ANDERSON:

Right below the video right now.

NICK CROW:

Flashing and…

 

 

ROSS ANDERSON:

We did mention at the very top that there is a $1,000 bonus. Nick, can you tell us about that and what the time frame is that they have left on it?

NICK CROW:

The time frame is the most important thing, so if you're going to pay attention to anything, it's that this bonus expires tomorrow at midnight. Also, we have a cap on the number of people we're accepting, and if you're thinking about how those two things work together, you would want to join to get that bonus.

So if right now you're listening to us and you're thinking this is the right solution for you, you should join now so that you don't miss out on that $1,000 bonus. There will be details on the same page, here, that will tell you exactly how that works, but essentially we're going to put money in your account once you join us and fund. So take advantage of that. It's important.

ROSS ANDERSON:

Jill, for somebody that buys today, if they make that decision and they do decide to move forward, what's next for them?

JILL RALPH:

They will come through the process, and they'll be prompted to schedule their concierge appointment. That's on the schedule that works for them — the time, the date. They can choose the team member that they want to have this appointment with. And then what we'll ask them to do is then go online and maybe explore the site. See the type of portfolio advice we're going to provide to them based on their risk profile and the questionnaire we put in front of them online.

And then what happens is when the appointment comes, someone from this team gives the member a call and has a conversation about what they saw, or answers a question. Because again, every person's situation is truly their own, and so I think this concierge onboarding appointment is really like the gift of an amazing 30 minutes or so of time, one-on-one, with someone who can help you through the whole process.

ROSS ANDERSON:

That's fantastic. And I would remind folks that if they're on the fence about this, there is a membership-fee-back guarantee through the onboarding period. So if folks get into the product and for whatever reason decide that it's not the right fit for them, they can get their entire membership fee back, and even if, let's say, you sign up for five years and get three years into it, you still would get a prorated refund for any unused time. We don't want people ever paying us for time that they're not getting to appreciate and enjoy the service.

We want to thank everybody for tuning in with my team, here. Thanks to Nick, Jill, and Megan for joining us, spending time answering our prospective members' questions. Prospective clients' questions. Thanks for your interest and Fool on!

[End]

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