Monument is a fee-only financial advisor firm 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.
Although the staff at Monument is fairly small, it does boast a few advisory certifications. In fact, the firm has four advisors on staff who hold the Certified Financial Planner™ (CFP®) designation, as well as 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:
- 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 builds client portfolios primarily with exchange-traded funds, mutual funds, and individual equities to achieve diversification. Their philosophy emphasizes long-term, fundamentals-driven investing while avoiding market timing, though modest cash adjustments may be made in response to risk tolerance and market expectations. They tailor strategies to each client’s needs, including special considerations such as concentrated stock positions, inheritance or tax issues.
The firm offers multiple strategies, including dividend-focused stock portfolios, growth-oriented stock selections, tax-efficient index-optimized portfolios, income strategies and global macro ETF portfolios. Analysis relies heavily on fundamental research, complemented by technical, cyclical and charting approaches. They view cash as an asset class, remain open to client-imposed restrictions and adjust portfolios through ongoing monitoring and review.
Monument Wealth Management Fees
Monument Wealth Management charges negotiable annual fees up to 1.50% of assets under management, generally billed quarterly in advance and based on account value at quarter-end. Fees vary by account size, complexity and client relationship, and may sometimes be fixed instead of asset-based. Clients also pay underlying fund expenses, custodial fees and transaction costs. Financial planning and consultation services are offered for separate fixed fees, typically ranging from $2,500 to $25,000.
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.
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