JoycePayne Partners – Overview

JoycePayne Partners is a fee-only financial planning and investment management firm with offices in Richmond, VA and Bethlehem, PA. 

The firm provides personalized and customized financial strategy solutions to successful individuals and families. 

Founded in 1993, JoycePayne Partners now manages over $500 million in assets.

Many of the advisors at the firm hold CFP, CFA, and CPA designations as well as other financial industry designations and advanced degrees.

The firm has 18 employees, 8 of who are financial advisors.

JoycePayne Partners has been consistently chosen as one of the top 250 wealth advisors in the US by Worth magazine. It is also rated as one of the top 100 independent financial advisors by Barron’s magazine.

The firm prides itself in its core values of trust, integrity, personalization (it looks at a client and see the whole person, not just his or her financial picture), objectivity, individual excellence, responsiveness, open communication, and innovation.

JoycePayne Partners

Image Source: JoycePayne Partners

What We Like About JoycePayne Partners

1. JoycePayne Partners is fee-only: The firm’s fees are calculated as a percentage of the assets it manages. They are not derived from commissions from the sale of financial products to clients nor are they compensation-based from recommending a particular course of action to clients.

A fee-only advisor is also under a fiduciary duty to his or her clients. The advisor must always place a client’s interest before his or her own.   

2. JoycePayne Partners has a great reputation: The firm has received many accolades in the financial press, including the Financial Times, Barron’s, and Worth magazine.

3. JoycePayne Partners is involved in the local and wider community. The firm supports a number of community organizations through the giving of time and/or money.

4. Account Protection: JoycePayne Partners does not have custody of client funds or securities except for $24,479,264 held in private funds. The firm uses TD Ameritrade Institutional and Fidelity Institutional as custodians for client assets.

5. JoycePayne Partners has prestigious professional affiliations. The firm is affiliated with the American Institute of Certified Public Accountants (AICPA), CFA Institute, Estate Planning Council of Richmond Virginia, Estate Planning Council of the Lehigh Valley, Financial Planning Association, Institute of Private Investors, and National Association of Personal Financial Advisors (NAPFA).

6. JoycePayne Partners also plays a custodian role. The firm acts as custodian for 87 clients with total securities valued at $24,334,895. Although this represents just 4% of the total assets under management (AUM), it is a substantial amount and demonstrates the trust that clients place in the firm. It also paradoxically adds an additional layer of protection since, by virtue of acting as a custodian, the firm is subject to random surprise audits by a nationally accredited accounting firm.

10. JoycePayne Partners engages in side-by-side management. We believe that this exposes the firm to the challenge of seeking alpha, which will improve its overall investment management capabilities. Side-by-side management occurs when the same portfolio manager simultaneously makes investment decisions for a registered investment company and a private fund.

Although there is a potential for conflicts of interest to arise, the risk here is minimal since the private funds constitute a mere 4% of the firm’s (AUM). The potential conflicts of interest arise because managers of private funds earn performance fees while managers of registered investment companies typically do not.

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Assets Under Management (AUM)

Discretionary: $571,393,020

All accounts are discretionary. A discretionary account allows the investment manager to make investment decisions on a client’s behalf. A non-discretionary account requires a client’s authorization before any investment action is taken.

JoycePayne Partners Fee Schedule (As of 2015)

Clients are charged for investment advisory services either by a fixed fee or by AUM.

The present (as of 2015) fee structure is:

  • First $2,000,000: 1.00%
  • Next $8,000,000: 0.50%
  • In excess of $10,000,000: 0.35%                                                                                                       

JoycePayne Partners Address Information

1. Bethlehem: 74 W Broad St Ste 320, Bethlehem, PA 18018-5738

Phone: (610) 882-3882

2. Head Office at Stony Point:  9030 Stony Point Pkwy Ste 100, Richmond, VA 23235-1941

Phone: (804) 358-2702

To contact JoycePayne Partners

JoycePayne Partners Contact Page:

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