GETTING STARTED
Q: How do I get started?
A: Contact us now at (773) 391-2808 or lisa@arcusfos.com for a brief introduction and to schedule a consultation where you will be able to understand if your needs can be met by Arcus.
Q: How do you charge for your services?
A: Based on our extensive client experiences and an initial consultation we are able to determine an appropriate, reasonable fee and create an agreement that includes a detailed statement of work to be signed by Arcus and you. We have found that our fees consistently fall within the expectations of potential clients. Once we start working with you, we will take an deeper review of what you would like for us to handle, the complexity of your financial situation and get started. Onboarding of complex situations and highly specialized reporting may take more time for us to understand in addition to the partners (investment, wealth, legal and accountant) you currently work with and your personal preferences. Arcus offers all clients, which is built into our agreements, a three-month review to discuss the initial agreed upon fee and if that fee is commensurate with the complexity of your needs once we have had time to work with you. Fees will be discussed and adjusted if services are added or removed at any point accordingly.
Our goal is to create a seamless onboarding process that is accurate, efficient, and timely. We believe it is critical to focus on the upfront conversion of information into our systems and to continually work with your advisors to maintain a long-term, effective relationship. The best way to achieve this is by gaining a clear understanding of your financial picture and objectives by obtaining, organizing, and reviewing all the relevant information.
Q: What if I decide not to continue?
A: While we sign an engagement letter that runs for one year and renews automatically, you are free to cancel the service at any time with a 30 day notice.
BOOKKEEPING AND BILLPAY
Q: How do my bills and other financial documents get to you?
A: Most clients will change the mailing or email address on their bills, so they come directly to us. Arcus has a PO Box or a direct email that will be used for forwarding. Additionally, if you chose to keep all mail and emails going to you personally to send or forward to us, there will be a little lapse in the speed it will get to us. If local, we will arrange for mail to be picked up directly from your home. If at a home that is not local or you are traveling, we will work with you to arrange for mail to be sent to our PO Box.
Q: If my bills go directly to you, when will I see them?
A: While many clients ask us to scan all bills and paid receipts into a shared file to cut down on paper files in the home, we will also, on a monthly or quarterly basis, mail all the paid bills summarizing what we have taken care of.
Q: Do I lose control of my accounts?
A: No, you have the opportunity to review every payment and can access your accounts directly at any time. You may even feel more in control, because our cash flow reports give you a better understanding of where your money goes.
Q: How do you know what to pay?
A: Most bills have to be paid in full (your utilities, mortgage payments, car leases, etc.). Where there is discretion, (medical, remodel, bills that we are seeing for the first time that you have not brought to our attention) we get your approval prior to payment.
Q: How and where do you get the funds to pay my bills?
A: Our clients are all unique in the way that they work with us. Clients will either give us access to their account(s) used for bill pay, open a separate account with our partner bank to fund on a monthly basis or have us work with their wealth or investment advisor. Accounts are then connected to our software to report on if agreed to by the client.
Q: What if I go out of town for the summer or winter?
A: If your bills come to us directly, you won’t have to worry about mail or emails going where you’re not. If they are mailed to you personally, we will work with your contact(s) to ensure mail is sent to us. We will rely on our clients to continuously send emails that may not be sent directly to Arcus. If we mail your bills back to you, we can send all directly to you wherever you might be.
Q: How can I get information from you when I need it quickly?
A: You are always a phone call away from your dedicated Relationship Manager. Our staff, because of the level of individuals and families that we work with, are normally always available or a backup is assigned. If you do go into a voicemail, clients are called back within the hour.
Q: How do you dispute or sign on my behalf if/when needed?
A: The CEO of Arcus could hold a Limited Power of Attorney if it were determined to be a need as part of our services provided to you. This could be used for a specific period of time or for the duration of your relationship with Arcus. Any transaction that warrants the use of the Limited Power of Attorney is approved by our client prior to any use and documented by Arcus.
Q: What if I am still running a company and need Arcus to help with certain functions?
A: Many of our individuals and families are not yet retired and will ask Arcus to step in to act in the capacity of a CFO, administrative assistant, manage staff, run payroll, manage rental property income and expenses.
Q: What types of reporting and how do you deliver/provide reports?
A: We will discuss your reporting requirements during our onboarding phase and agree on deliverables and timing. We will work in conjunction with your advisors and provide financial reporting to you and/or your advisors on a monthly, quarterly, annual, or otherwise mutually agreed upon basis. We understand that each family has unique needs, so we create a process to capture information to accommodate your customized reporting requests.
We can deliver reports directly to you electronically, which is our preferred method, or via hardcopy. The electronic delivery can be done through your personal share file client folder, via an encrypted email. Some of our clients elect to have a monthly call or summary of services in lieu of a full reporting package when finances are not complicated.
We will establish necessary processes and procedures for your unique requirements and create a process to capture information to accommodate your customized reporting requests.
Q: What do you do to help me organize for my annual tax filing?
A: With the information we are tracking, we will work with your wealth/investment and tax advisors to providing them with financial reports and any supplemental reports relating to your accounts.
LIFESTYLE CONCIERGE SERVICES
Q: What types of services are included in lifestyle concierge services?
A: The customization of unique lifestyle services that Arcus offers our clients allows them to work with Arcus as a one stop firm in addition to bill pay is extensive.
Have a private plane(s) or boat(s) to manage? Need a luxury rental – home, plane, car, boat? Need someone to manage your home and staff? Run your payroll? Book your travel? Need a dinner reservation? Plan a party? Need a service vendor?
Most needs of our clients have been or can be met with the experience, knowledge, contacts and partners that Arcus has in our network.
Specific to Investment, Tax and Legal Advisors
Arcus partners with established providers on a wide range of services to enhance the quality of capabilities that successful advisors can offer their affluent clients. A combination of our custom designed service packages, personal financial management and consolidated reporting complements the what you are already offering your clients but cannot effectively support. We simplify and organize your clients’ lives leaving the opportunity for you to expand your client relationships, grow your practice and alleviate the added overhead of additional staff.