Monument is a fee-only financial advisor firm that’s based in Alexandria, Virginia. It has a small group of on-staff advisors that handle hundreds of millions of dollars in clients' assets under management (AUM). Monument works with a couple hundred individual clients, which are divided nearly evenly between those with and without a high net worth.
Monument Wealth Management Background
Monument Wealth Management is an independent firm that opened its doors in 2008. The firm’s co-presidents and co-founders David Armstrong and Dean Catino remain principal owners to this day. The duo has spent, on average, over 20 years in the financial services industry.
Although the staff at Monument is fairly small, it does boast a few advisory certifications. In fact, the firm employs four Certified Financial Planners™ (CFP®), two chartered financial analysts (CFA) and one certified private wealth advisor (CPWA).
Monument Wealth Management Client Types and Minimum Account Sizes
Monument Wealth Management’s client base is entirely made up of individuals with and without a high net worth.
The firm does have a $3 million minimum account size. However, the firm may be willing, under certain circumstances, to waive or reduce this requirement at its sole discretion.
Services Offered by Monument Wealth Management
The services available at Monument Wealth Management are fairly standard. They are divided into three overarching categories: investment management, asset management and financial planning. Check out its specific offerings below:
- Investment management
- Discretionary management
- Security trade execution
- Custodial services
- Return reporting
- Asset management
- Continuous and active account supervision
- Customizable account management based on:
- Personal financial circumstances
- Risk tolerance
- Investment objectives
- Investment advice
- Purchases
- Sales
- Reinvesting
- Holding
- Financial planning
- Written financial plans
- Retirement planning
- Investment planning
- Estate planning
- Insurance planning
- Risk management
- Tax planning
- Education fund planning
- Real estate planning
- Investment portfolio review
- Asset allocation
- One-time consultations
- 401(k)
- Profit-sharing plans
Monument Wealth Management Investment Philosophy
Monument Wealth Management utilizes a five-step process that aims to take you from a new client to a fully integrated account holder. Everything begins with a “blueprint meeting” with your advisory team to iron out exactly what your financial goals, risk tolerance, liquidity needs and time horizon are. This information will then allow the firm to formulate a specific financial plan not only for the present, but also the future.
Your financial plan is then implemented as an investment portfolio. Monument focuses on three principles throughout all of its portfolios: tax efficiency, widespread diversification and low trading cost. Once your money is invested, the firm pledges to continue the management of your account. This involves rebalances, regular evaluations of your financial plans, support for you and your family and more. Exchange-traded funds (ETFs), stocks, mutual funds and structured notes are Monument’s premier investment types.
Monument Wealth Management Fees
Monument Wealth Management’s asset management and investment management services share a fee schedule, whereas its financial planning services adhere to their own specifications. Depending on the complexity of your situation, your fee rate will range up to a maximum of 1.50% annually.
On the other hand, financial planning at Monument calls for fixed fees that normally reside between $2,500 and $25,000. Factors such as the services you’re receiving, the overall intricacy of your situation and if you have any past relationship with the firm will come into play when determining your rate. All fees will be quoted to you prior to being implemented.
Monument Wealth Management Awards and Recogntion
Monument Wealth Management holds a spot on SmartAsset's list of the top financial advisor firms in Alexandria, Virginia.
Monument Wealth Management was also named by Financial Advisor Magazine as one of America's Top RIAs on its 2024 list. In fact, this is the sixth time the firm has received this commendation.
What to Watch Out For
According to its SEC-filed Form ADV, Monument Wealth Management has no disclosures on its record.
Opening an Account With Monument Wealth Management
To become a client of Monument Wealth Management, you can either visit the firm in Alexandria, Virginia or call (703) 504-9600. You can also reach the firm via email at info@monumentwm.com.
All information is accurate as of the writing of this article.
Tax Planning Tips
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