FAQ on the Pakola, Steichen & Company, LLP Transition
What change is taking place at Pakola, Steichen & Company, LLP?
Founders Howard Pakola and Dan Steichen are dissolving their formal partnership and will be launching separate, independent firms. The partners will remain closely associated; they merely desire more autonomy for their respective practices going forward. This is a cooperative and friendly agreement they have carefully considered for some time.
What are the new firms named?
Howard is forming PSC Financial, LLC. Dan is starting Personal Wealth Partners, LLC.
(Advisor Sue Isaacson will practice with Dan at Personal Wealth Partners.)
What is the effective date?
Pakola Steichen will begin to phase out on October 15, 2014, the day the separate, new firms officially launch. The transition process will take place over the next several months.
Will clients get to keep their preferred advisor?
Yes, clients will continue to work with the same advisor they have in the past, unless they prefer to make a change at this time. The firms will certainly accommodate client wishes.
Will clients have to change their investments?
No. Both new companies will continue to custody investments with LPL Financial, as Pakola Steichen does today. Clients keep their investments in place with LPL, with no change in performance history or account numbers—only a new website portal. (See new URLs under contact information below.)
Will fees change?
No. There will be no change in fee structure at either firm.
Will the missions or investment approach of the two firms change?
Both firms will continue to meet the investment, financial, and estate planning needs of businesses, families and individuals. They will each continue to offer all the sophisticated and highly personalized options that clients enjoy today.
Will there be staff changes?
Most of our staff will remain in their current roles with one of the firms. Your advisor will notify you of any change in the support staff who will serve you.
Will mailing, web addresses and contact information change?
Both firms will remain in their current office at 1550 American Blvd. E., Suite 640, Bloomington, Minnesota for the immediate future.
Founders Howard Pakola and Dan Steichen are dissolving their formal partnership and will be launching separate, independent firms. The partners will remain closely associated; they merely desire more autonomy for their respective practices going forward. This is a cooperative and friendly agreement they have carefully considered for some time.
What are the new firms named?
Howard is forming PSC Financial, LLC. Dan is starting Personal Wealth Partners, LLC.
(Advisor Sue Isaacson will practice with Dan at Personal Wealth Partners.)
What is the effective date?
Pakola Steichen will begin to phase out on October 15, 2014, the day the separate, new firms officially launch. The transition process will take place over the next several months.
Will clients get to keep their preferred advisor?
Yes, clients will continue to work with the same advisor they have in the past, unless they prefer to make a change at this time. The firms will certainly accommodate client wishes.
Will clients have to change their investments?
No. Both new companies will continue to custody investments with LPL Financial, as Pakola Steichen does today. Clients keep their investments in place with LPL, with no change in performance history or account numbers—only a new website portal. (See new URLs under contact information below.)
Will fees change?
No. There will be no change in fee structure at either firm.
Will the missions or investment approach of the two firms change?
Both firms will continue to meet the investment, financial, and estate planning needs of businesses, families and individuals. They will each continue to offer all the sophisticated and highly personalized options that clients enjoy today.
Will there be staff changes?
Most of our staff will remain in their current roles with one of the firms. Your advisor will notify you of any change in the support staff who will serve you.
Will mailing, web addresses and contact information change?
Both firms will remain in their current office at 1550 American Blvd. E., Suite 640, Bloomington, Minnesota for the immediate future.
Please use the following new contact information starting October 15, 2014:
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PSC Financial, LLC (Howard)
7900 International Drive, Suite 1075 Bloomington, MN 55425 Web: www.PSCFinancial.com Phones: 952-777-3955 / 844-413-1691 Fax: 952-777-3929 [email protected] [email protected] (Other staff will use this same email convention.) |
Personal Wealth Partners, LLC (Dan and Sue)
1550 American Blvd. E., Suite 640 Bloomington, MN 55425 Web: PersonalWealthPartners.com Phones: 952-955-9781 / 844-413-1733 Fax: 952-955-4673 [email protected] [email protected] (Other staff will use this same email convention.) |