Check this page for answers. Or, you can call us at 678-608-0420
Imagine a world where you are given financial advice, in real-time, in real world scenarios, personalized to YOU.
Wela is changing the way financial advice is delivered. By combining data driven mobile technology with real human advisors, Wela is able to provide instant feedback on how your daily actions affect your longterm financial goals.
This holistic financial experience meets anyone's needs...From defining an investment strategy, to cashflow management, to budgeting, to learning saving and debt relief tactics.
JOIN THE THOUSANDS OF USERS TRACKING THEIR FINANCIAL HEALTH FOR FREE
Benjamin is able to run a complete analysis as soon as you link an account of any kind to our web or mobile application. This will you improve the accuracy and output of your Daily Spend Limit and tracking of your goals.
If you choose not to link an account, he will still be able to set a defined Daily Spend Limit by merely gauging your personally defined household income.
Along with these foundational metrics, Benjamin will also be able to deliver personalized insights on demand to help you stay on track to reach your daily, weekly, and monthly goals.
Wela is an Old English word meaning wealth or prosperity. We chose this name because the word wealth can be intimidating and limiting. We believe everyone’s definition of “wealth” is different. Whatever your definition, we’re here to help you achieve Wela.
The goal of Wela is to give everyone access to free financial advice. It is free to set up an account, and use our tools to help you track and work towards your financial goals. You can also always access a financial advisor for your financial questions, and to help set up your unique financial game plan.
If you decide to become an investment client of Wela Strategies, an annual fee is charged based on the assets under management. See the table below for the breakdown of the annualized fees.
$0 - $250,000
$250,000 - $500,000
$500,000 - $1,000,000
Speak with Wela.
The total fee will be based on an aggregate of all portfolios under management with advisor and any affiliate of advisor. Fees are calculated based on market value at the close of the last business day of each calendar quarter (i.e. March, June, September and December). Fees are due in arrears or at the end of each calendar quarter.
If you’re ready to start investing with Wela Strategies you’ll need to first sign up for a Wela account. Once you’re inside the portal you can click on the My Advisor tab at the top of the page.
At the bottom of the page you will click the button that says, “Invest Now” which will open up a questionnaire.
This questionnaire will help find an investment strategy that best suits your preferences and needs. Once you have filled it out, you’ll be taken to a screen which will give you a breakdown on how Wela Strategies would suggest that you invest. From here you can either choose to discuss your allocation with your personal advisor or you can choose to move forward with opening an account.
If you choose to meet with your advisor, you’ll be prompted to schedule a meeting by either chatting online with your advisor, or having a video conference call or phone call to discuss your allocation with your advisor.
If you’re ready to open your account, you’ll just need to select this option and click the “Save & Next” button. From here you’ll be prompted to fill out information on the type of account you want to open at Wela along with the account details needed to get started.
IRA Rollover Considerations
It is important for you to understand many employers permit former employees to keep their retirement assets in their company plan. Also, current employees can sometimes move assets out of their company plan before they retire or change jobs. In determining whether to complete the rollover to an IRA, and to the extent the following options are available, you should consider the costs and benefits of each.
An employee will typically have four options:
Leave the funds in your employer's (former employer's) plan.
Move the funds to a new employer's retirement plan.
Cash out and taking a taxable distribution from the plan.
Roll the funds into an IRA rollover account.
Each of these options has advantages and disadvantages and before making a change we encourage you to speak with your CPA and/or tax attorney.
If you are considering rolling over your retirement funds to an IRA for us to manage it is important you understand the following:
Determine whether the investment options in your employer's retirement plan address your needs or whether you might want to consider other types of investments.
Employer retirement plans generally have a more limited investment menu than IRAs.
Employer retirement plans may have unique investment options not available to the public such as employer securities, or previously closed funds.
Your current plan may have lower fees than our fees.
If you are interested in investing only in mutual funds, you should understand the cost structure of the share classes available in your employer's retirement plan and how the costs of those share classes compare with those available in an IRA.
You should understand the various products and services you might take advantage of at an IRA provider and the potential costs of those products and services.
It is likely you will not be charged a management fee and will not receive ongoing asset management services unless you elect to have such services. In the event your plan offers asset management or model management, there may be a fee associated with the services that is more or less than our asset management fee.
Our strategy may have higher risk than the option(s) provided to you in your plan.
Your current plan may offer financial advice, guidance, and/or model management or portfolio options at no additional cost.
If you keep your assets titled in a 401k or retirement account, you could potentially delay your required minimum distribution beyond age 70.5 (70 ½).
Your 401k may offer more liability protection than a rollover IRA; each state may vary.
Generally, federal law protects assets in qualified plans from creditors. Since 2005, IRA assets have been generally protected from creditors in bankruptcies. However, there can be some exceptions to the general rules so you should consult an attorney if you are concerned about protecting your retirement plan assets from creditors.
You may be able to take out a loan on your 401k, but not from an IRA.
IRA assets can be accessed any time; however, distributions are subject to ordinary income tax and may also be subject to a 10% early distribution penalty unless they qualify for an exception such as disability, higher education expenses or the purchase of a home.
If you own company stock in your plan, you may be able to liquidate those shares at a lower capital gains tax rate.
Your plan may allow you to hire us as the manager and keep the assets titled in the plan name.
It is important that you understand the differences between these types of accounts and to decide whether a rollover is best for you. Prior to proceeding, if you have questions contact an investment adviser representative.