Last year when we made our Sound 2.0 transition and formed our own hybrid RIA, we related to you, our client, several reasons for taking this path. We wanted to be able to work with outside partners and be able to cut out the unnecessary middlemen and to also be as transparent as we could regarding fees. We believe the improvements we make in these two areas will set our firm apart from the industry in how we can serve our clients, but more importantly, we simply believe it is the right thing to do! In light of that, we want to let you know about what you’ll see in your April advisory account report.

First, in this upcoming advisory report, you’ll notice a few changes. You may see fees that are titled Sponsor Fee, Advisory Fee, Management Fee and/or Platform, for the 1st and/or 2nd Quarter. We are reporting the fees you pay in the most clear and understandable manner as possible.

At Sound, we always try to completely explain the full fees you pay. We recognize our industry is notorious for “hiding” fees and/or sales commissions, which can be confusing to clients. We do not agree with this, nor do we believe it should be that complicated. In fact, we would encourage you to please talk with your advisor to see how each of these fees can impact your account. The best way to understand how each fee may impact your unique situation is with an honest conversation with your advisor, and we look forward to having that conversation with you!

Secondly, we are pleased to say, we’ve been successful in cutting out middlemen, so we can more directly negotiate for our clients. Doing so has allowed us to add greater technology and investment expertise to better serve you, and still keep the costs to our clients at similar levels. You’ll notice in the April advisory report that the overall pricing for you is generally the same when compared to our old pricing at NPC. However, NPC planned a significant price increase in nearly all areas. This went into effect soon after we terminated from NPC. Compared to this, most clients should see a cost savings. We are pleased to say we’ve added value, without adding costs for most clients.

We are always grateful for the trust you put in us at Sound Financial. We don’t take that trust lightly. All of our work, thought, and effort is to better serve you today and into the future.

Thank you.


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