Frequently Asked Questions

Why should I work with a Financial Advisor?
Retirement plans like working with Westgate Capital Consultants due to their interaction with plan participants, knowledge of industry regulatory environment, willingness to become an investment co-fiduciary, and custom investment line-up development. These services create greater participant satisfaction because they have someone to consult about their situation, and greater plan trustee confidence that they have managed their obligations.

Our clients like working with Westgate Capital Consultants because we start with their goals and desires at top of mind and then objectively evaluate each unique situation to formulate a comprehensive financial plan. With this plan in mind, the financial advisor creates an investment portfolio designed to help pursue their long-term goals. Periodic review of the financial plan and associated investment portfolio helps ensure staying on track with goals.

How do you determine who will be my advisor?
Westgate Capital Consultants operates as a true team. While there are six registered representatives, each team member serves a different functionality at the firm. When working with a new client, we consider the needs of that client to ensure that the correct team members are involved.

How much does it cost for an initial consultation?
There is no cost for our initial meeting. We feel it's time well spent to first get to know one another — before we establish a formal business relationship.

How do you get paid?
Our revenues are derived from fully disclosed professional fees and are based on the amount of assets in the client’s account(s).

Retirement Plans: We are paid an agreed upon and fair percentage directly from the investment company. This fee is deducted from Plan or Participants’ accounts and that information is disclosed. Recent Department of Labor regulations (July 2012) require full fee disclosure, in that all fees must be openly provided to Plan Sponsors, Trustees, Fiduciaries, and Participants – something our firm has already been doing for many years.

Individual Investment Management: We are paid quarterly from our broker/dealer, LPL Financial. This fee is deducted from your account and illustrated on the quarterly statements from LPL Financial. And speaking of fees, you'll find that the total cost of our individual investment management services are among the most competitive.

Have you received any special designations or awards?
Both Scott A. Shelton and Ian W. Hartley hold the Accredited Investment Fiduciary (AIF) designations, and both have been awarded the 2013 Five Star Wealth Managersm. *

What does the AIF designation mean?
The Accredited Investment Fiduciary (AIF) designation required formal, off-site training and evaluation to enable us to serve as an investment co-fiduciary to 401(c) and 403(b) plans. The maintenance of this designation requires annual education to stay current with the changing regulatory environment. While many of these best practices have been in place for years, our retirement plan clients appreciate knowing that we have the legal responsibility to follow prudent investment practices, as well as to serve the client’s best interests.

What is a Fiduciary?
A Fiduciary is a person who is responsible for managing the assets of another person and who stands in a special relationship of trust, confidence, and/or legal responsibility. As a Fiduciary, we have the legal responsibility to follow prudent investment practices, as well as to serve the client’s best interests. We have designed our operations to reflect prudent practices and procedures.

Do you have references or a sample client list?
Yes. Please contact us for references.

Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC

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* The Five Star Wealth Manager award does not evaluate the quality of service provided to clients. Recipients of the award may have had unfavorable ratings. 2,978 award candidates in the Seattle area were considered for the Five Star Wealth Manager award. 597, approximately 20 percent of award candidates, were named 2013 Five Star Wealth Managers. The 597 award winners represent less than 7 percent of the total wealth managers in the area. The award is not indicative of the wealth manager's future performance. The Five Star Wealth Manager Award is administered by Crescendo Business Services, LLC (dba Five Star Professional). Candidates and winners do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Once awarded, winners, may opt to purchase additional profile ad space or related award promotional products.

The Five Star Wealth Manager Award is based on the following criteria: Eligibility Criteria Required 1. Credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney. 2. Actively employed as a credentialed professional in the financial services industry for a minimum of five years. 3. Favorable regulatory and complaint history review*. 4. Fulfilled their firm review based on internal firm standards. 5. Accepting new clients. Evaluation Criteria – Considered 1. One-year client retention rate. 2. Five-year client retention rates. 3. Non-institutional discretionary and/or nondiscretionary client assets administered. 4. Number of client households served. 5. Education and professional designations. *A favorable regulatory and complaint history review is defined by Five Star Professional, as the person cannot have: (1) Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine, (2) Had more than a total of three customer complaints filed against them (settled or pending) with any regulatory authority or Five Star Professional's consumer complaint process, (3) Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority, (4) Filed for personal bankruptcy, or(5) Been convicted of a felony.