Who do I contact with initial questions?
Email info@sperosmith.com, or contact Jeff Malbasa at jeff@sperosmith.com.  Alternatively, you may call us at 1-800-794-7545

back to top

How does Spero-Smith structure its client relationships?
Our clients’ achievements and long-term relationships with Spero-Smith have been based on our ability to understand client issues, apply our expertise to specific situations, and effectively communicate our viewpoints to clients. Accordingly, our clients have achieved success in their financial affairs while having peace of mind about their future.

We believe the collaborative relationship we have with our clients and within Spero-Smith is the key to achieving success for our clients. Each client has a relationship advisor, a portfolio manager, an assistant portfolio manager and a client-service liaison assigned to their care.

The relationship advisor is responsible for the overall investment strategy of each client, based on his/her unique set of goals and constraints. They are also responsible for addressing other financial planning issues. This individual holds an advanced degree in business or law, or has obtained the Certified Financial Planner designation or Chartered Financial Analyst designation.

The portfolio manager is responsible for implementing each client’s investment strategy within the context of the overall firm philosophy, applying these decisions to the individual accounts of the client. Investment decisions are made by our Chief Investment Officer, Mimi Lord and Chief Executive Officer, Robert Smith.

The assistant portfolio manager is responsible for supporting the portfolio manager and relationship advisor with various financial planning and investment related research projects to assist the client.

The client-service liaison is responsible for assisting the client with deposit and withdrawal requests, account set-up and various other tasks that involve the client and the custodian (The organization where assets are held).

Our clients appreciate the unbiased practical wisdom and commitment to their success that our team approach yields.

back to top

What is the process for becoming a client?
See link: Timeline of Becoming a Client

back to top

What is the fee-structure of a relationship with Spero-Smith?
Annual fees for our services are as follows.

• 1.0% on assets under management up to $1 million
• 0.7% on assets exceeding $1 million up to $3 million
• 0.5% on assets exceeding 3 million

We target clients with investment assets in excess of $1 million. The minimum annual fee is $5,000. For clients with annual fees totaling less than $10,000, there is a $1,000 set-up fee. Fees are deducted quarterly, in advance, and are based on the value of the portfolio at the end of the month preceding quarterly billing.

back to top

What is Spero-Smith’s history?
Our firm was founded by Karen Spero in 1972. Driven by her experience-derived belief that combining financial planning with investment management provides superior results for clients, Karen merged her financial planning expertise with Bob Smith’s asset management background in 1993, forming Spero-Smith Investment Advisers, Inc. The combination of these two unique individuals and their talents laid the framework for our current client services.

Today, we have a staff of 15 talented individuals including 5 CFPs, 4 MBAs, 1 CFA and a breadth of experience to help you succeed in reaching your financial goals.

back to top

• Average Client Age: 62 years old
• Average Client Assets Managed by Spero-Smith (12/31/2007): $1,412,415
• Assets Under Management (12/31/2007): $378,527,198
• Average Length of Relationship: 8 years (Over 25% of our existing relationships have been with us more than 12 years).

back to top

Is Spero-Smith a Fee-Only, Independent Registered Investment Advisor?
Yes.

back to top

What is a fee-only advisor?
A fee-only advisor is one who is compensated solely by the client. They may not accept compensation that is contingent upon the purchase or sale of a financial product, and therefore, may not receive commissions, rebates, awards, finder’s fees, bonuses or any form of compensation from others as a result of their relationship with the client.

back to top

“A financial planner who has a financial stake in the course of action that he/she recommends to a client faces an inherent conflict of interest and cannot be considered objective and unbiased. This is true even if the planner truly believes that he/she has only the best interests of the client at heart. Unfortunately, the vast majority of financial advisors in the United States are sellers of financial products. Some or all of their income may be dependent upon their ability to steer their clients to a limited number of the thousands of financial products available today. (Putting aside the conflict-of-interest factor, this limiting of choices, in and of itself, often is enough to impact the quality of investment advice.)

These advisors include stock-brokers, analysts, insurance agents, accountants and attorneys, as well as financial planners. Many of their clients are not aware of their advisors’ dependence on selling products, or do not recognize its significance.

NAPFA believes that many of the problems that beset Americans today in their financial affairs-including the mis-management of debt, failure to protect retirement assets and poor allocation of savings and investments – relate directly to the conflicts of interest that pervade the marketplace.“

For more detail on understanding Objective Investment Advice, please click the following link: Investing in More Objective Advice: A Guide to Working With an Independent Registered Investment Advisor.

back to top

Are you a NAPFA member?
Senior Vice Presidents, Mimi Lord & Matt Olver are active individual members of NAPFA.

The National Association of Personal Financial Advisors is the nation’s leading organization of Fee-Only comprehensive financial planning professionals.

For more detail about NAPFA, please visit their website at www.napfa.org. 

back to top