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Frequently Asked Questions

Here are some questions that we are often asked. We hope these help to assist you in finding the financial planning firm that meet your expectations.


Q: What type of documents and financial information do you request to review during your comprehensive financial review with The Barrett, Duncan & Duncan Wealth Advisory Group of Hilliard Lyons (BD&D)?

A: You should be prepared to share the following:

  • Brokerage Investment Account Statements
  • Retirement Account Statements - 401(k), 403(b), IRA, 457 Plan, ESOP, etc…
  • Banking Statements: Checking, Savings, Money Market and CDs.
  • Insurance Information: Annuity, Auto, Life, Disability, Long-term Care, Homeowner's, and Property and Casualty.
  • Real Estate Information - Fair Market Values and Mortgage Amounts/Terms.
  • Estate Planning Documents - Wills, Powers of Attorney, Trusts, etc…
  • Two Years of Tax Returns - Personal and Business, if applicable.
  • Information on all personal debts and liabilities for house, vehicles, etc… (Please provide interest rates, whether tax deductible, year of maturity, and periodic payments)

Q: What type of documents and financial information do you request to review during your comprehensive financial review as a business owner?

A: You should be prepared to share the following:

Required Documents:

  • Most Recent Investment Statement(s) and Performance Report(s)
  • Investment Policy Statement
  • Fiduciary Adviser Acknowledgement
  • Fiduciary Adviser and Service Provider Agreement

Recommended Documents:

  • Documents pertaining to the selection of the Service Provider and the Fiduciary Adviser
  • Investment Committee By-laws
  • Investment Committee Minutes.
  • Code of ethics/conflicts of interests policies and procedures

Q: What makes the BD&D Group different from other financial planning and investment management firms?

A: There are a number of reasons listed below.

Client Experience: We are first and foremost dedicated to providing you with a client experience that focuses on developing and maintaining a long-lasting relationship to ensure you are receiving advice that is appropriate for your circumstances, time frame, risk tolerance, goals and objectives.

True Comprehensive Financial Advice: We simply do not offer investment advice without first getting to know you.  This equips us with the knowledge to provide the best advice to help you pursue your goals. 

Multi-generational Approach: BD&D will team with you to provide integrated solutions on any issue concerning or related to your family's finances. From complex estate planning and investment issues to automobile leases and home mortgages, we can help.  Also, we will develop relationships that extend to your family, whether your spouse, mom, dad, brother, sister, children, and/or grandchildren to ensure a complete understanding of your goals among all interested parties.

Relevant Experience: Our team has more than 65 years of collective experience in the financial planning industry.

Ethical Standards: We act in the best interest of our clients at all times.

Specialty: We are not general practitioners; rather, we are comprehensive wealth managers.

Hilliard Lyons: Having the backing of an investment firm that has been providing financial insight since 1854 provides us with an extensive menu of investments, state-of –the art resources, and access to multiple resources


Q: Who is Hilliard Lyons and how are you affiliated?

A: Since its inception in 1854, Hilliard Lyons has been deeply committed to protecting clients' wealth. First and foremost, they place great emphasis on maintaining the highest standards of integrity and discretion. This cornerstone practice has contributed significantly to their financial strength and stability. They have a legacy of putting proven investment solutions to work when they create customized wealth management plans - for even the most complex of financial pictures. Hilliard Lyons specializes in planning issues that include retirement, business succession, trust /estate planning and education funding.

Hilliard Lyons innovative solutions, technology, and affiliates assist BD&D in creating and managing wealth for our clients.  They offer an extensive menu of investments including professionally managed accounts, stocks, bonds, options, mutual funds, annuities, exchange traded funds, and insurance to facilitate the financial strategies recommended by us. 

We also have direct access to our Research Analysts, Consulting Services Group (which provides platforms consisting of Integrated Portfolio Solutions and Strategic Fund Solutions), Hilliard Lyons Trust Company and our Investment Banking Group.

All members of BD&D are direct employees of Hilliard Lyons and are supervised and licensed through the firm.


Q: Does BD&D work with institutions such as corporations, non-profits and associations?

A: Yes. We can assist your business, non-profit, or association with the implementation and administration of defined benefit plans/defined contribution plans, Municipal Bond Issues (The municipal trading desk located in our Carmel, IN office covers Indiana, Kentucky, Michigan, and Illinois.  They are one of the largest underwriters in terms of municipal deals in the State of Indiana, they are a market maker in Indiana municipals, and deal with both taxable and tax exempt issues.),U. S. Securities, Business Valuations/Mergers/Acquisitions, and Cash/Excess Funds Management.


Q: Can BD&D help me with stock option planning or a highly concentrated equity position?

A: Yes; in fact, many corporate executives with whom we work have benefited from our stock option and concentrated equity position strategies.


Q: How is BD&D compensated for investment management and financial planning services?

A: BD&D provides investment management and financial planning services on a fee and commission basis.  Which type is dependent upon multiple factors that will be discussed in detail with you prior to the implementation of a financial plan.


Q: Does BD&D Wealth Advisory have account minimums for new clients?

A: We do not have account minimums. However we have established a defined levels of service for our clients.  This helps to ensure that our service levels remain commensurate with what our new and existing clients expect and deserve.


Q: Does BD&D prepare tax returns or draft legal documents?

A: BD&D does not prepare tax returns or legal documents; however, our team includes local CPA Firms and Law Firms to which we can refer you. We also utilize the Hilliard Lyons Trust Company, LLC for estate issues. Additionally, we can work directly with your existing accountant and/or lawyer to ensure sharing of information with your written approval.


Q: How are my accounts protected at BD&D?

A: Your account is protected through two institutions; The Securities Investors Protection Corporation (SIPC) and a private insurance carrier. Keep in mind, that the protection mentioned above covers your account against the unlikely insolvency of Hilliard Lyons, it does not insure against investment losses. The first $500,000 (up to $250,000 in cash) of protection is provided through The Securities Investor Protection Corporation. Above the $500,000 threshold of SIPC coverage and its recovery services, Hilliard Lyons has excess-SIPC coverage from a third party insurance carrier. This policy carries a firm-wide maximum liability of $100 million. Therefore, securities not recovered by the SIPC would be directed to the excess SIPC insurance and distributed on a prorated basis.

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 Securities and Advisory Services offered by J. J. B. Hilliard, W.L. Lyons, LLC, A Registered Broker Dealer and Investment Advisor, Member NYSE / FINRA / SIPC. Trust Services are offered through Hilliard Lyons Trust Company, LLC, an affiliate of J. J. B. Hilliard, W.L. Lyons, LLC. Hilliard Lyons does not offer legal, accounting or tax advice. You should consult your own tax or legal counsel prior to making any decision that may affect your tax or legal situation. To understand how Hilliard Lyons is compensated for its services, please click here.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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