Growing up in a family of teachers, Joseph Sgroi was well aware of the dedication it took to be a great educator. In the early 1970s Joe’s dad was retiring from the Buffalo Public schools after 40 years of service while his sister was beginning her teacher career. It was then that he realized there was a need to help all educators receive the support and guidance needed to reach their retirement goals. Sgroi Financial was created to provide that needed service in Western New York.
Fast forward to today, Sgroi Financial is still a proud local supporter; assisting over 3,000 teachers, educators and other school employees from over 100 school districts with their 403(b) plans.
What We Offer
- Ability to set up and/or transfer your 403b/Tax Sheltered Annuity (TSA) account.
- Management of your account and the investments selected.
- Among the lowest management and annual fees.
- Online access to your account.
- Guidance for your overall financial plan.
- Availability at any time for questions, assistance or meetings.
How to Set-up Your 403b/Tax Sheltered Annuity (TSA) Account
- Meet with a Sgroi Financial Planner (for your privacy, we prefer to meet in our office).
- We have an easy set-up process that can be as quick as a 30 minute meeting.
- We’ll fill out and submit all the paperwork (including your SRA) to get your account set up.
IT’S THAT SIMPLE!
What Are the Fees?
(for new clients)
At Sgroi Financial, we believe it is important to be transparent in our pricing. Typically, 403(b)’s have a few different pricing components. They include the cost of Professional Money Management, Internal Investment Costs, Fees charged by a Record Keeper, Third Party Administrator(TPA), Surrender Fees and Sales Loads. At Sgroi, our current pricing for all new 403(b) accounts is as follows:
Sgroi Financial Management Fee: 1.1%
Professional Investment Management, based on your assets under management.
Internal Investment Costs: .31 – .40%*
Management Fees & internal operating costs of the actual investments. Our investment fund expenses vary depending on which of our 6 models you invest in.
*Current costs as of 1/1/21
Aspire Custodial Fee: .15%
Aspire Financial is our record keeper that charges on your assets under management.
Aspire annual maintenance Fee: $40.00
In addition, Aspire charges a fixed annual fee.
TPA (Third-Party Administrators) Fee: None
This is a monthly fee.
Surrender Fees: None
Sgroi Financial will not charge you to move your money to another firm or product. You are never locked in and have the freedom to move your account whenever you want.
Sales Loads: None
Some money managers will use Mutual Funds that carry sales loads in their 403(b) product. Sgroi Financial does not.
- Overall, the all-in cost for your investments are between 1.56% – 1.65% plus the $40 annual Aspire custody fee.
- Aspire does charge other miscellaneous fees for setting up loans, taking distributions and for replacing lost checks.
The Pencil Project
Sgroi Financial rewarded five hard-working teachers in Western New York with $500 towards their classrooms as part of their 3nd Annual Pencil Project. Learn more about the promotion and the 2020-2021 award recipients.
Check out the background of our investment professionals on: BrokerCheck
Securities offered through Cadaret, Grant & Co., Inc., member FINRA/SIPC. Advisory services offered through Sgroi Wealth Advisory Group LLC, an SEC Registered Investment Advisor. Sgroi Wealth Advisory Group LLC, Sgroi Financial LLC, and Cadaret, Grant & Co., Inc. are separate entities.
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