About BAY POINT
we always Put clients first
At Bay Point, we do not receive commissions or referral fees, so our advice is never biased toward particular products. Instead, we find solutions that best serve you. In fact, we are required by law to always act in our clients’ best interest. This is known as a fiduciary duty. Read our Fiduciary Oath.
Commission-based or fee-based advisors earn commissions on the financial products they sell to clients. They may also charge fees on top of the commissions. They are not held to the same fiduciary duty as fee-only advisors and do not have the same obligation to openly disclose all fees and conflicts of interest. The risk is that there may be financial incentives to recommend products that are not the best solutions for their clients.
Only a small percentage of financial advisors are fee-only.
Bay Point also does not charge additional fees for our truly comprehensive financial planning, but includes it as part of our investment management service. From cash flow planning to insurance to taxes, we make sure all your bases are covered.
Click here to check Bay Point's compliance record at FINRA.org.
WE TRULY CARE
At Bay Point, our primary purpose is to improve the lives of our clients and their families through highly personalized wealth management.
As a client, you will know we care about you and your family by the way we get involved with nearly every aspect of your financial life - whether helping you refinance your mortgage, update your estate plan, or even get a great deal on a new car. We work closely with a team of professionals to make things easier for you and to make sure everything gets done right.
We will meet with you on a regular basis to establish and prioritize your goals, identify and protect against risks, minimize your taxes, and simplify the complexities of your financial life. We will also help care for those you care about. This can include aging parents, independent children or family members with special needs.
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We are highly competent
We have a unique set of skills and experience that allows us to offer the best solutions, especially for clients with very complex financial concerns. No matter what your situation, we can help you develop the most optimal strategies for meeting your goals.
Our competence is reflected in the designations we have earned and maintain. These are the highest standards in the industry for comprehensive, client-focused, financial, investment and tax planning.
CERTIFIED FINANCIAL PLANNER
Most people think that all financial planners are "certified," but this isn’t true. Anyone can call himself or herself a "financial planner." Only those who have fulfilled the certification and renewal requirements of the CFP Board can display the CFP® certification marks. When selecting a financial planner, you need to feel confident that the person you choose to help you plan for your future is competent and ethical. The CFP® certification provides that sense of security by allowing only those who meet their requirements the right to use the CFP® certification marks. For more information on the CFP® designation, please visit: www.cfp.net.
NATIONAL ASSOCIATION OF PERSONAL FINANCIAL ADVISORS
NAPFA advisors have even more rigorous requirements, including peer reviewed financial planning and twice the number of continuing education requirements as the CFP. All NAPFA advisors must be Fee-Only and take a Fiduciary Oath each year. For more information about NAPFA, please visit:www.napfa.org
CERTIFIED PUBLIC ACCOUNTANT
The CPA designation is limited to those individuals who have met the high standards of examination, professional work experience, and continuing education requirements set by the State Boards of Accountancy. These individuals will have expertise in the areas of accounting, auditing, tax, business valuation, and personal financial planning. For more information about the CPA license, please visit: www.aicpa.org.
CHARTERED FINANCIAL ANALYST
The CFA designation is considered the highest distinction in the investment management profession. Charter holders must meet education and work experience requirements, as well as pass three levels of testing ensuring advanced investment analysis and portfolio management skills. For more information about the CFA, please visit: www.cfainstitute.org
Not all financial advisors are the same!
Brokers, insurance agents, and Registered Investment Advisers (RIA) may all call themselves financial advisors. But, what do these terms really mean? And, how do you know which is right for you?
- Financial advisor is a generic term or title and does not indicate any specific credential.
- Fiduciary is the highest legal duty of one party to another, and requires being bound ethically to act in the other's best interests.
- Registered Investment Adviser (RIA) is a person or firm that is paid by a client to provide investment advice. An RIA is registered with and regulated by the Securities and Exchange Commission (SEC) or if small, by the state securities administrator. An RIA is a fiduciary. Bay Point is an RIA.
- Registered Representative (RR) is a person employed by a brokerage firm to buy and sell investment products to clients. An RR is also known as a broker. A broker is not a fiduciary. Brokers register with the Financial Industry Regulatory Authority (FINRA) a non-governmental self-regulatory organization.
- Fee Based Advisor is usually an RIA and RR (dual registered) who charges fees and can also earn commissions from product sales.
- Fee Only Advisor is an RIA who accepts no commissions or fees from product sales and who provides comprehensive advice. A Fee Only advisor may be paid hourly, as a retainer, as a percentage of assets (AUM), or as a flat fee. Bay Point is a Fee Only advisor.
- Insurance Agent is a salesperson who works for insurance firms and earns commissions by selling insurance products. An insurance agent is not a fiduciary. An insurance agent is licensed at the state level.
- BrokerCheck - A site that allows you to get information about investment professionals such as whether they are an RR (broker) or an RIA, what credentials they have earned, and if there have been any disciplinary actions against them.
- NAPFA - The leading organization of Fee-Only advisors whose site will help you find a Fee-Only advisor in your area.
Proud to Support
Bay Point has been helping those who live, work, or play in the Annapolis area for over 20 years. We are deeply committed to the community and to the organizations that serve it. While there are many great ones, these are the organizations that we have chosen to serve, sponsor, and/or support. We would love to tell you more about the great work they are doing and why we support them.
We do not have any career opportunities available at this time, but we are always interested in talking to great talent! If you would like to discuss our firm and future opportunities, please send your resume to firstname.lastname@example.org.