FAQ
Straightforward answers about how we work, how we’re compensated, and what it means to have a fiduciary in your corner.
We’ve compiled answers to questions we hear most often from families we serve in Minnesota and Virginia. If you don’t see yours below, we’d be glad to talk it through in a discovery meeting.
Working With Millstone
Who is Great Valley Advisor Group?
Great Valley Advisor Group (GVA) is a Registered Investment Advisor. Investment advice is offered through GVA. Millstone Wealth Management and Great Valley Advisor Group are separate entities. GVA also provides the market research, compliance, and operations specialists who support our advisors and clients.
Where do I find my tax documents?
If your accounts are held at Fidelity, tax forms are on Fidelity.com under Documents, then Tax Forms. Schwab clients can retrieve tax documents from the Documents area of Schwab Alliance. If you are unsure which custodian holds an account, contact us and we will point you to the right login.
What is a fiduciary?
A fiduciary must place the client’s interest before their own. They are required to disclose conflicts of interest and provide recommendations tailored to your unique situation. Millstone Wealth Management is a fiduciary.
Do you have an investment minimum?
There is no minimum to work with Millstone. During our initial discovery meeting, we will examine whether working together is a good fit for you and for our firm.
How are you compensated?
We are compensated in two ways. For ongoing wealth management, we charge an assets-under-management fee—a percentage of the assets held with our firm. That fee encompasses trading and account costs. We also offer a one-time, written and delivered comprehensive financial plan for clients who want a plan without an ongoing advisory relationship.
Where are your offices?
We serve clients from two locations: Saint Louis Park, Minnesota (5801 Cedar Lake Rd S) and Haymarket, Virginia (5840 Waterloo Bridge Circle).
How do I log in to my accounts?
Use Client Login in the header to open Fidelity, Schwab, or eMoney. Choose the portal that matches the account you need.
Planning & Advice
What does the planning process look like?
Our client experience moves through discovery, data gathering, analysis and design, a plan presentation, implementation, and an ongoing partnership. Hover or tap the millstone on the Process page for the detail of each step.
How often will we meet?
Meeting frequency depends on your needs. We typically review progress on a regular cadence and stay in touch when markets, taxes, or life events call for a closer look.
Do you provide tax preparation services?
We do not prepare tax returns. Tax considerations are built into our planning, and we work alongside your CPA so strategies stay coordinated.
Who is LPL Financial?
LPL Financial is an independent broker-dealer that provides technology, research, clearing, and practice-management support. Securities may be offered through LPL Financial, Member FINRA/SIPC. LPL offers no proprietary investment products, which supports our ability to give objective advice.
Retirement, Investing & Taxes
How do I create retirement income?
Creating retirement income typically involves coordinating savings, investments, Social Security, pensions, and other assets. A retirement income strategy can help align those resources with your spending needs and long-term goals.
How should my investments change as I get closer to retirement?
As retirement approaches, many investors review their portfolio against time horizon, income needs, and risk tolerance. Any changes should follow your individual circumstances and overall plan.
How do you help with concentrated stock?
We help clients diversify large holdings through individual lot sales, gifting stock to family or children, charitable gifts via a donor-advised fund, or—when suitable—option strategies such as covered calls.
What is tax-efficient investing?
Tax-efficient investing considers the potential tax impact of trades, account types, tax-loss harvesting, and withdrawal strategies. The goal is better after-tax outcomes while staying aligned with your objectives.
How can charitable giving impact taxes?
Charitable giving may provide tax benefits depending on your situation, filing status, and the type of assets donated. Gifting appreciated stock to a donor-advised fund is one approach we often discuss alongside concentrated-stock planning.
Estate Planning
What do wills and trusts do?
Wills and trusts are estate planning tools that can help direct how assets are managed and distributed. The appropriate use of each depends on your goals, family circumstances, and overall estate planning needs.
What documents should everyone have in place?
Common documents include a will, financial power of attorney, healthcare directive, and current beneficiary designations. Additional tools may be appropriate depending on your goals.
How often should I update my estate plan?
Review periodically and after major life events such as marriage, divorce, the birth of a child, a change in financial circumstances, or updates to estate-planning law.
Still have questions?
Schedule an introductory meeting and we’ll walk through your situation together.