Connolly Financial Group (CFG) acts as a relationship manager, monitoring third-party money managers Capital Investment Counsel (CIC) and Innova Wealth Partners (IWP) and facilitating communication between clients and these managers. CFG selects these managers based on their investment models, minimum account size, client needs, suitability, and investment objectives. CFG may charge an additional fee up to 0.05% for these services, which is fully disclosed to the client.
Fee Structure
Connolly Financial Group (CFG) uses third-party managers for investment management. CFG receives a portion of the fees charged by these managers.
Capital Investment Counsel (CIC) charges:
- First $1,000,000: 1.00% per year
- Next $1,000,000: 0.85% per year
- Next $3,000,000: 0.75% per year
- Above $5,000,000: Negotiable
Innova Wealth Partners (IWP) charges:
- $0-$500,000: 2.15% per year
- $500,001-$1,000,000: 1.9% per year
- $1,000,001-$2,500,000: 1.75% per year
- Over $2,500,000: 1.5% per year
CFG receives 40% of the CIC fee and 50% of the IWP fee.