Frequently Asked Questions
What happens with my Vanguard funds when I move to Stone Loft Wealth Management?
Most Vanguard funds (and indeed most mutual funds in general) can be held outside of Vanguard. When you move over to Stone Loft, we’ll transfer these funds in-kind through an electronic transfer. This means there’s no taxable event triggered by the move. All of your cost basis (purchase information) comes with it, so we remain fully aware of your capital gains position going forward whenever we make changes.
Where does the name “Stone Loft” come from?
The name has a personal story. After moving back to Pennsylvania from the New York area, our family settled in a historic 1750s stone barn. During COVID, while working from home, I set up my office in the loft of that barn—and that’s how the name “Stone Loft” came to be.
Will I have a Schwab login?
Yes, you will have a Schwab login, but you won’t need it for much. You’ll primarily use Stone Loft’s client portal, which is more user-friendly and tailored to your needs. Schwab, as our custodian, still provides official tax documents, but we’ll upload those directly into your Stone Loft portal so you don’t have to track them down.
What if something happens to you?
It’s an important question. In the future, I plan to expand the team, but even now there’s a solid contingency plan. If something were to happen to me, Schwab advisors are available and fully capable of stepping in. And for clients who joined me from Vanguard, you would also have the option of being reassigned to an advisor there if you preferred. On my end, I’m doing all I can—keeping up with health and wellness—so hopefully this never becomes an issue. But if it ever did, you’d be in good hands.
What are the fees?
The fee schedule is the same as what I used at Vanguard, designed to be transparent and fair:
0.30% (30 bps) on the first $5 million
0.20% (20 bps) on the next $5 million
0.10% (10 bps) on assets above $10 million
These are progressive rates, so for example, a $10 million portfolio works out to an effective blended rate of about 0.25%. Like at Vanguard, I don’t charge on cash, and once investments are converted to ETFs, there are no transaction fees.
What’s changing?
The core remains familiar—same transparent fee structure and investment philosophy. The difference is in the level of service and flexibility. At Stone Loft, I can speak freely about assets not directly under management, review outside items like insurance policies, and take a more holistic planning approach. I’m also intentionally limiting my practice to fewer than 75 families (versus the 200 I served at Vanguard) so I can provide a more tailored, boutique experience. In short, you’re getting the same foundation with a more personal and comprehensive touch.
Why would you leave a large firm to start a boutique firm?
I founded Stone Loft because I wanted to stay true to my values and clients. At Vanguard, the culture began shifting toward pushing certain products rather than focusing purely on what was best for each client. By creating Stone Loft, I have the freedom to put clients first, respond quickly to their needs, and deliver a more personalized, client-centered service.
If we want to move forward, what are the next steps?
The first step is to get a copy of your statements so I can review your holdings and ensure they transfer correctly. I’ll also need your accounts page for the full account numbers (not shown on statements). To make it easy, I’ll send you a secure Dropbox link for uploads.
From there, my assistant will send you electronic transfer documents to e-sign. You won’t need to contact Vanguard about the transfer, but before we move assets, we’ll want to convert any mutual funds to ETFs where possible. That keeps things tax-efficient and lowers expense ratios. We’ll also confirm your cost basis method (ideally not average cost).
If you’d like, I can hop on Zoom to walk you through the process step by step.