About Chemistry Wealth Management

  • Why is your name Chemistry Wealth?

    Chemistry, the study of the properties and behavior of matter, is the foundation for understanding everything around us. It is used to explain interactions, reactions and transformations. These fundamental qualities are central to our approach to wealth management.

    At Chemistry Wealth, we understand that all the elements of your life — from your financial circumstances and ambitions to the world around you — interact, change, and transform over time. Building meaningful long-term relationships while diligently pursuing the science of growing wealth is in our DNA. We look at everything that matters as we integrate wealth planning into the rhythm of your life — helping you and your family navigate and thrive in a complex world.

  • What is a fiduciary?

    As a fiduciary, we are required to always serve our clients’ best interest. All our decisions are guided by our commitment to preserve the trust and confidence clients place in us.

  • What is an RIA?

    A registered investment advisor is a firm that is legally obligated by a fiduciary duty to always act in their clients’ best interests at all times. Chemistry Wealth is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”), the regulatory agency that defines this fiduciary standard.

  • What is your relationship to Schwab?

    Charles Schwab& Co., Inc. (“Schwab”) is an independent third-party custodian that holds and protects our clients’ accounts. We recommend Schwab because they are custodians to more assets than any of their peers, have a client-first culture, financial strength and experience with RIAs.

  • How are you compensated?

    Chemistry Wealth earns its revenue through its wealth management and financial planning fees. As a fee-based wealth advisory firm, we do not receive commissions or additional revenue from product providers for investments in your accounts. This allows us to offer truly objective financial advice and align our goals with those of our clients in protecting and growing their wealth and avoiding the conflicts of interest that can exist in some financial services firms. Our firm charges a percentage of the assets under management, determined according to the total assets managed and the overall complexity of your situation.

    Clients interested in financial planning only or who fall below minimum assets under management thresholds may be charged an agreed-upon flat fee, assessed annually, according to the complexity of the plan. If a client has a need for insurance products, our financial professionals will not be paid an advisory fee, but rather an insurance commission.

  • What are your minimums to work with a client?

    We do not have any specific minimums. Get in touch and let’s determine if we are a good fit for your needs.

Asset Safety and Security

  • Are your clients’ assets insured?

    Schwab is a Securities Investor Protection Corporation (“SIPC”) member brokerage firm as well as maintaining excess SIPC protection. Securities and cash in accounts held at Schwab are insured by SIPC in the event of broker-dealer failure.

    SIPC provides up to $500,000 of protection for brokerage accounts held in each separate capacity (e.g., joint tenant or sole owner), with a limit of $250,000 for claims of uninvested cash balances. More information about SIPC coverage is available at www.sipc.org. Note that commodity interests and cash in futures accounts are not protected by SIPC.

    Your assets at Schwab-affiliated banks are protected by the Federal Deposit Insurance Corporation (“FDIC”). FDIC is an independent agency that is backed by the full faith and credit of the United States government.

    The standard FDIC insurance amount is $250,000 per depositor, per insured bank, based on ownership category, and includes accounts held singly or jointly. The same amount applies to trust-owned accounts. Go to www.fdic.gov to learn more about FDIC coverage.

  • How do you handle/protect against privacy, fraud, etc.? (Privacy concerns)

    In accordance with our Privacy Policy, we only share personal information with third parties as necessary to provide services. The data security policies and procedures employed by these third parties are reviewed and monitored on a regular basis for adherence to strict industry standards.

    We have selected vendors based on their functionality and strong adherence to security best practices.

    Multi-level, multi-factor security measures are employed to provide the highest level of assurance that your sensitive data is protected and transmitted within an encrypted virtual network. We require our staff to use two-factor authentication to access our systems from remote locations.

    Your data is not shared with any third parties for advertising purposes.

Financial Planning

  • What is your financial planning approach?

    As our name would indicate, we integrate the various elements of a client’s financial life. In providing a comprehensive financial plan and applying our investment management expertise, we consider all the component parts of your life to help you achieve your short- and long-term objectives.

    Our approach to financial planning is comprehensive and holistic. We always start with understanding our client’s personal financial goals, principles and values. As the CEO of their own life, our clients lay out their vision to us, while we sit alongside them as their personal CFO. We provide ongoing assessment and tracking of their financial goals and needs, evaluate various possible scenarios, and provide clear and specific strategies and recommendations to empower them to reach their goals.

    We filterthrough the financial information overload our clients face and share, with our clients, those areas that are most impactful to them personally. As your personal CFO, we seek to be a reliable, rational and empathetic sounding board that provides strategies, recommendations and advice according to your personalized financial needs.

    We aim to manage all aspects of our clients’ financial situation. This includes net worth, cash flow and cost of capital analysis, as well as tax planning, investment planning, retirement planning, insurance planning, education planning, and estate planning advice and guidance.

    We organize and facilitate the conversations across our clients’ various professional advisors, such as accountants, benefit directors, insurance agents, attorneys and family members, to fulfill our mandate to maximize our clients’ wealth and minimizethe hassle. At Chemistry Wealth we approach our clients’ financial planning as an ongoing, dynamic process. We proactively engage with our clients through periodic service meetings to make sure that our planning advice is adapting to changes in your life and the global landscape.

Investment Management

  • What is your investment approach?

    In managing our clients’ life savings, we believe in building personalized financial portfolios, based on our clients’ needs, from the bottom up. We develop asset allocation models that are consistent with their personal risk tolerances and time frames. We use a flexible and objective approach, where we may own a combination of individual securities and actively and passively managed funds that can provide the highest risk-adjusted rates of return, net of taxes and cost, over a full market cycle. 

    We adhere to a disciplined value investment philosophy in our investment approach and seek to compound wealth over the longterm by focusing on limiting the downside risk of our clients’ personal wealth. We seek to own companies that are priced at reasonable valuations and possess financial strength, attractive long-term economics and strong, rational management teams that have skin in the game.

  • Are your investment choices limited?

    As an independent registered investment advisor, we access an open architecture investment platform that features thousands of mutual funds, exchange-traded funds (“ETFs”), and alternative investments, as well as traditional equity and fixed income investments. Free from the constraint of proprietary products and investment banking relationships, we can work with our clients to determine which investment options are best suited for their unique financial situation.

Client Service

  • What is your client service approach?

    Another characteristic of our name, Chemistry Wealth, is the “chemistry” that we foster between us and our clients. This is demonstrated and evident by our all-in dedication to building long-term, meaningful relationships, exceptional personal service, and our eagerness to always go the extra mile in order to minimize the time and stress clients usually face when managing their personal wealth.

    Each client works directly with Mark Chemtob when making important investment decisions. In addition, every client is assigned a dedicated Client Relationship Manager. We are committed to accommodating our individual clients’ needs and answering their important questions within 24 hours.

Transition from Ameriprise

  • What’s changed?

    We have launched our own independent, registered investment advisory (RIA) firm but everything you find valuable in working with us will remain the same or improve.

    With the freedom our new structure provides, you will continue to receive the personalized, sophisticated and comprehensive wealth management services you have come to expect from us but with important enhancements. Going forward, you will experience a more customized investment experience, a streamlined website and client portal, and consolidated reporting inclusive of assets you hold outside of our new custodian.

    It's important to note that, while our office address will remain the same, our phone numbers and email addresses have changed. You can now reach us at 212.970.8900 or info@chemistrywealth.com. We can no longer receive correspondence at our ampf.com emails. 

    We will, with your e-signed or signed authorization, move your in-house investments from Ameriprise to our new third-party custodian, Schwab.

  • Why did you choose Schwab as your custodian?

    After a thorough review of custodians in the RIA industry, we felt Schwab was the strongest choice, both for you as a client and for Chemistry Wealth Management. Their industry-leading offering surpassed all the other firms we evaluated, delivering a higher level of support and services. Their experience and knowledge in this business will provide us with the best venue to manage your finances.

    For over 30 years, Schwab has supported independent advisors. They currently work with 13,000 independent advisory firms, more than any other custodian, and hold over $7 trillion in client assets.

  • Are you now an employee of Schwab?

    No. We are our own independent firm. Schwab is simply the custodian we recommend to hold our client accounts.

    We believe they are the strongest custodian for you and will provide the support and service we are looking for, for our clients and Chemistry Wealth. We have the flexibility to choose where we custody your accounts, so Schwab will work hard on behalf of our firm to provide the best ongoing service and platform available.

  • What won’t be changing?

    Under this new model, we can do more of what we do well in a more efficient way. Our incredible team, our personalized advice, and our diligent and thoughtful investment approach will not change.

  • What motivated you to make this change and why now?

    The industry has changed immensely, and, over time, we felt our vision for how we want to continue to serve you became increasingly difficult to execute. We found ourselves gravitating towards a more personalized model that will allow us to deliver a more client-focused experience and services centered on your interests and priorities. Establishing ourselves as an independent, registered investment advisory firm was the next logical step.

    Since we had 22 years of partnership with Ameriprise, we did not come to this decision lightly. After two years of research, we decided the long-term benefits our clients would experience justified any temporary disruption necessary to transition your accounts.

  • How do I reach you?

    You can reach us at info@chemistrywealth.com or by calling us at 212.970.8900.

  • Why didn’t you tell us about this change earlier?

    Given the importance we place on our relationship with you, we would have loved to share this news with you sooner, but we were not permitted to do so. We were bound by a legal contract that stipulated we could not, under any circumstance, let you know any sooner than we did.

    Not being able to tell you sooner was the biggest downside we faced in making this change.

  • What does it mean to be a fiduciary?

    As fiduciaries, we are required to always serve our clients’ best interest. All of our decisions are guided by our commitment to preserve the trust and confidence clients instill in us.

  • Are independent advisors subject to regulatory oversight?

    Yes, as independent registered investment advisor, we are under the supervision of the U.S. Securities and Exchange Commission (“SEC”). The SEC has strict guidelines to meet fiduciary standards, disclosures, recordkeeping and other compliance matters.

    In addition, we have also hired an independent compliance consulting firm that supports hundreds of registered investment advisors. This firm will assist us in ensuring we are fulfilling the more stringent regulatory requirements of this model.

  • What services/features are you able to offer that you were not able to offer before?

    Under this new model, we can offer you the most customized advice using best-in-class tools and technology as well as the widest possible range of investment options.

    You will also be able to access a streamlined client portal through our website and view consolidated reporting inclusive of assets you hold outside of Schwab, our new custodian.

  • How are my personal information and other data protected?

    In accordance with our Privacy Policy, we only share personal information with third parties as necessary to provide our services. The data security policies and procedures employed by these third parties are reviewed and monitored on a regular basis for adherence to strict industry standards.

    Chemistry Wealth realizes data security is an ongoing process. We have selected the best of breed technology partners to provide us with the enhanced functionality and security. Our processes and systems will be consistently upgraded and subject to monitoring in real time, at all hours, by a third party.

    Multi-level, multi-factor security measures are employed to provide the highest level of assurance that your sensitive data is protected and transmitted within an encrypted virtual network.We require our staff to use two-factor authentication to access our systems from remote locations.

    Your data is not shared with any third parties for advertising purposes.

  • What should I expect when transitioning my accounts?

    We will be reaching out in the near future to discuss any questions you have.

    Since we’re changing custodians, we’ll need to establish the same types of accounts and arrangements you had at Ameriprise with Schwab. This will require you to review and sign paperwork, just as you did when establishing accounts with Ameriprise. You will receive this Schwab paperwork soon, if you haven’t already, along with detailed instructions. You will have the opportunity to complete this paperwork digitally.

    This paperwork will facilitate the account opening and transfer of assets process for you. To the extent possible, the forms will be pre-populated and will only require your signatures and some additional information.

    Once your accounts have transitioned, we will arrange for a team member to walk you through our new client portal.

  • What is account transfer process?

    When your paperwork from Schwab arrives, any additional information requirements will be highlighted for you to fill in. We will then submit it to Schwab, and they will start the transfer process, which typically takes 5–7 business days. You will receive confirmation from Schwab once the account(s) have been opened and you will be able to set up online access to your accounts. Once your transfer is complete, you can access your accounts through Schwab.

  • Does this transition have any impact on my taxes?

    No, there will be no negative tax impact as a result of transitioning your accounts.

  • I received the package of paperwork. Can you tell me what is going to change?

    The only difference is that now your accounts will be custodied at Schwab instead of Ameriprise. Once you complete and return the paperwork, we will work with Schwab to open your new accounts and transfer your assets. Rest assured: we will continue managing your finances as we’ve done in the past.

  • What happens to me if I don’t sign this? Who will take care of me?

    If you choose not to sign the new paperwork, your accounts will remain at Ameriprise and may be reassigned to a different advisor. If you have any questions on the documents or process, please contact us.

  • What if I need to get information from when my accounts were at Ameriprise?

    We will work with you on obtaining any information needed to the degree it is available.

  • Can we just keep our accounts where they are?

    Yes. However, if you choose to do so, we will no longer be able to manage your accounts as we are no longer affiliated with Ameriprise.

    If there are accounts that should not transition, we will advise you accordingly.

  • What if I wait?

    Sending the forms back as soon as possible will allow us to have everything we need for year-end tax planning and to start 2022 in the most efficient manner. We also cannot vouch for who at Ameriprise will be assigned to your account and have access to your accounts and information.

  • Are there additional documents I need to return with this package?

    There is likely to be additional documentation required. There will be specific information about this in your package, but examples of what may be needed are:

    • A copy of your most recent statement so Schwab can initiate the transfer of assets.
    • A copy of a preprinted voided check in order to establish ACH instructions.
    • If opening a trust account, certain pages from your trust document.
    • We will work with our Schwab conversion and transition team to identify any other client-specific needs.
  • How long will it take to move my account?

    As soon as I submit your paperwork to Schwab, the account(s) will be opened and submitted for transfer, which typically takes 5–7 business days.

  • How will I access my accounts?

    Once your accounts have been moved from Ameriprise to Schwab, you will be invited to set up an account on our new client portal on our website where you’ll be able to integrate accounts held outside of Schwab in addition to other holdings that contribute to your overall wealth.

    We will be arranging for a team member to walk you through our new client portal.

  • What about recurring arrangements such as my distribution checks, monthly checks, direct deposits, bill payments, systematic savings, payouts, etc.?

    In most cases, the transition paperwork will include everything needed to re-establish any recurring arrangements initiated on our end.

    In cases where additional action steps are required such as re-establishing Social Security Income deposits, payroll direct deposits or automatic mortgage payments, etc., we will work with you to ensure these are reestablished correctly for a smooth transition.

  • What will happen to my Ameriprise banking account?

    Your account is still active, and we will work with you to ensure a new account is opened with Schwab and a cash reserve is built up before closing the Ameriprise banking account to ensure a seamless transition of your banking.

  • What will happen to my Ameriprise credit card(s)?

    You may continue to use your Ameriprise credit card(s).

    If you are currently redeeming your Rewards Points for cash back into your Ameriprise account you will lose the 25% more cash back benefit.

    If you have an Ameriprise® Premier Visa Signature® and your $150 annual fee is currently waived as an Achiever Circle Elite member, you will begin paying the fee one year after your account(s) transfer from Ameriprise to Schwab.

    If you pay your Ameriprise credit card bill from an Ameriprise account, we will help you reestablish those payments from your Schwab accounts after the transfer. 

  • What if I need a check? What do I need to do? How long will it take?

    You have several options:

    1. Call us and arrange for a check to be mailed in 5–7 business days.
    2. If your need is more urgent, we could request overnight delivery.
    3. Schwab offers ACH and the ability to wire funds.
  • How do I make a deposit into my account(s) now?

    You have the following options once your account(s) have been set up:

    You may send checks directly to our offices as you’ve done in the past.

    Mail the check to:

    Chemistry Wealth Management LLC
    111 Broadway, Suite 602
    New York, NY 10006
    Attn: Client Service

    Checks payable to yourself must be signed by all payees on the payee line and write in:

    “For Deposit Only to Account xxxx-xxxx”

    Example: A check made payable to John Doe AND Jane Doe, must be endorsed by both John and Jane.

    Checks may also be made payable to Charles Schwab. These will not have to be endorsed. However, the following must be written on the back of the check:

    “For Deposit to Account xxxx-xxxx” or “For Deposit Only to Charles Schwab Account xxxx-xxxx”

  • I found a mistake on the forms you sent me. What should I do?

    Please get in touch with us as soon as possible so that we can determine whether the forms need to be corrected and resent to you. You may reach out to us directly at our new email addresses or by calling us at 212.970.8900.

  • Can someone help me with the forms?

    Absolutely. We will reach out and walk you through the forms as soon as they are sent, or you may contact us directly with any questions.

  • Do I need to log on to the Schwab site to select paperless?

    Paperless statement enrollment is an activity that we cannot complete for clients. Because we are an independent firm and not employees of Schwab, there are specific safeguards in place for your account log-in information. This provides additional protection for your personal and private information.

    We can send you an email with simple instructions that will help you enroll for paperless statements, or you can initiate the process on your own by logging into your account online.

    You can also find instructions by visiting http://content.schwab.com/learningcenter/index.html.

  • All these online systems are new to me. Can someone help walk me through them? Are there instructions on how to navigate the system?

    Absolutely. Our Technology Onboarding Specialists will reach out as soon as accounts are established to walk you through our new client portal and new tools and capabilities.

  • Will I lose access to banking and lending?

    No. You will continue to have access to the same banking and lending features that you were utilizing before but may experience new account number changes (i.e., new checking account number and debit cards) as we make the transition over to the Schwab platform.

  • Will there be a fee to transfer to Schwab?

    There will be an account transfer fee of $125 per account from Ameriprise prior to account transfer. Those fees will be reimbursed within approximately five business days after the account transfer process is complete.

  • What measures does Schwab take to protect my assets?

    Schwab is committed to safeguarding your private information and financial data. Click below to read their complete privacy policy and for additional information regarding account security.