I got a nasty and obtuse letter from a California attorney threatening all kinds of things if I didn’t stop using the name “Silver Sage Advisers”. My doing so would apparently cause great harm to his client, who doesn’t even do business in Oregon under that name. Not really caring one way or the other, and not wanting to harm anybody, I’m bypassing this battle and have re-registered my investment adviser company (RIA) under the name “Duell Wealth Preservation“, which more accurately reflects my main mission anyway.
In a weirdly literal interpretation of Oregon Statutes, the Department of Finance & Corporate Securities (which regulates RIAs) says I must charge fees for my services or I can’t be a Registered Investment Adviser. My advisory contract and fee schedule are posted on my website under “Links”. Fees are split into three different areas: (1)Assets under management, (2)Flat fee for a comprehensive financial plan, and (3)Hourly fees for specific tasks. With any particular client I charge only one type of fee; there will be no Dagwood sandwiching of fees. I’m not sure how this protects consumers but I’m Mr. Compliance when it comes to the regulatory agencies.