As a fiduciary financial advisor in Norfolk, Holland Capital helps physicians, researchers and faculty in academic medicine, including those at EVMS now that it has joined Old Dominion University, sort their current benefits and older retirement accounts into one written plan. Norfolk clients work with us mostly by video and phone, and we can sit down by appointment at the Regus center in Dominion Tower downtown.
A medical school now part of a university. Accounts from training and earlier jobs. No single picture of where it all stands.
Norfolk has about 231,000 residents. Naval Station Norfolk is here, along with Old Dominion University, its Eastern Virginia Medical School and CHKD, the children’s hospital.
An integration like this is a natural moment to review the whole picture. You may have a current workplace plan, an account from residency and an IRA opened years ago. Nothing has to move for you to understand it. A fixed-fee written plan shows how the pieces fit and what, if anything, to change. Before trusting anyone’s advice on this, ask whether they serve as a fiduciary and how their pay works.
Start with the Benefits You Have Today
We begin with your current benefits summary and plan documents, as they read now. We do not assume anything has changed. Open questions go on a list for your benefits team.
Then we add accounts from training, prior hospitals or other universities. The result is one list showing each account, its balance and how it is invested.
Deciding What Stays and What Combines
Some accounts may be worth combining, and some may be better left alone. The answer can depend on costs, investment choices, plan rules and taxes. Our guide to financial planning for physicians covers related topics such as student loans and a later start to saving.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Investing the Accounts as One Portfolio
Once you can see everything, the accounts can be considered as one portfolio, even when they remain in different plans. Which investments sit in which type of account can affect taxes, as our guide to asset location explains.
If you would like us to handle it, investment management is an optional later step, with a written investment policy statement behind it.
How We Work with Clients in Norfolk
Holland Capital Management is an independent registered investment adviser and a fiduciary. M. Chad Holland, CFA, CFP® works directly with clients and is responsible for the planning and advice.
Bring your current benefits summary, a statement for every retirement account from each stage of your career, and recent pay information.
You leave with a written plan, priced as a fixed fee agreed before we begin. Carry it out on your own, through an advisor you already trust or with us.
The first conversation is free. If there is work worth doing after that, we will define the scope and cost before you decide whether to move forward.
Our offices are in Charlotte, North Carolina and Winter Park, Florida. We work with clients in Norfolk primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center in Dominion Tower, 999 Waterside Drive, Suite 2525.
For clients whose investments we manage, accounts are held directly at Charles Schwab in the client’s own name. Holland Capital manages the investments but does not take custody of client assets. If a client ever needs in-person assistance from Schwab, the closest branch is in Virginia Beach at 4701 Virginia Beach Boulevard.
We work with clients throughout Virginia. You can see the other Virginia communities we serve here.
Our what we do page explains how a planning engagement works.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Frequently Asked Questions
Should I Combine My Old Retirement Accounts?
Possibly, but not automatically. Combining can make accounts easier to track, while some plans have features worth keeping.
What Does a Fiduciary Financial Advisor Add When Sorting Old Accounts?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. In this case, we may suggest leaving an account in a current or former employer’s plan when that serves you better.
You pay a fixed, pre-agreed fee for the plan itself; should you later ask us to manage your investments, that is a separate fee we explain before you choose.
Can We Meet in Person in Norfolk?
Yes. Meetings are by appointment at Dominion Tower, 999 Waterside Drive, Suite 2525, Norfolk. Most of our work together runs by video or phone, around clinic and lab time.
Photo: Bruce Emmerling / Wikimedia Commons / CC BY-SA 4.0, cropped.
