Who is Evident Financial? 

Evident Financial is a Registered Investment Advisor supervised by the Pennsylvania Department of Banking & Securities. Located in Erie, PA, Evident Financial is a private money management firm serving people approaching or recently retired and people in retirement. Through guidance from the firm's Founder, David Cullen and President Eric Presogna, Evident Financial is a highly respected financial advisory firm. 

What is a “fiduciary” and why should I care?

Evident Financial is a fiduciary. As such, we have a legal duty to act in your best interest. Of the more than 300 advisors in the Erie region, only a few work to a fiduciary standard, the highest standard of care in the industry.

Working with an advisor who is not a fiduciary puts you and your investments at risk. The good news for investors is that brokers who are incentivized to sell high-fee investment products such as annuities and mutual funds are finally coming under greater scrutiny to become more transparent and fair. The bad news is that until pending reform rules go into effect, these brokers can continue charging high fees and receiving incentives for the products they sell, oftentimes unbeknownst to investors.

What types of accounts does Evident Financial offer?

We offer a variety of accounts to help you save and invest:

  • Personal investment account
  • Traditional IRA
  • Roth IRA
  • IRA Rollover
  • Employer retirement plan 401(k) and 403(b) transfers
  • Agent for Trustee

What is the minimum amount required to open an account?

An initial investment of $250,000 is typically required.

How are my investments managed?

Evident Financial will build you a diversified portfolio of low-cost exchange traded funds (ETFs), choosing from more than 5,000 available funds. Your portfolio is customized to your investment goals and how much risk you are willing and able to take.

How do I benefit from having you manage my money the way you do? 

Decades of research supports the benefit of investing in a diverse set of funds that charge minimal fees. And the reason is simple: over time, it’s impossible to pick individual stocks or bonds that outperform the market as a whole, especially when high fees drag down returns. Investing in index funds, even when the market goes down over the short term, is advantageous because in the long run the market goes up.

What are exchanged traded funds (ETFs)?

An ETF is a basket of hundreds or thousands of stocks or bonds in a single fund. Owning many stocks or bonds wrapped up into one fund is less expensive and less risky than owning individual stocks or bonds.

What is an index fund?

Index funds are used as a benchmark to gauge how the market or sector of the market is performing as a whole. For instance, the most common index ETFs track the S&P 500, a basket of 500 large US companies.

Who holds my money?

Charles Schwab, one of the world’s leading investment firms with over $3 trillion in total client assets, holds your assets. Evident Financial never directly handles client funds, and only you have access to your money. Your personal information and money are safeguarded under Schwab’s Security Guarantee, the highest level of data protection in the financial industry.

What’s involved with switching my account to Evident Financial?

Switching your financial advisor may be easier and faster than you think. After your new account is opened with Evident Financial, Charles Schwab handles everything involved in transferring your funds.

What are your fees?

Evident Financial charges one simple annual management fee based on a percentage of assets managed. You do not pay sales commissions of any kind.

In some cases, you may pay a modest securities's trading fee directly to Charles Schwab. The only other fee is a low fund-level fee, averaging about 0.07%, which is paid directly to the investment fund sponsor such as Vanguard or Charles Schwab.

Our management fee schedule is as follows:

First $250,000          1.00%
Next $250,000          0.80%
Next $500,000          0.60%
Next $1,000,000       0.40%
Over $2,000,000       0.30%

Where is Evident Financial located? 

Evident Financial is located at 900 State Street in downtown Erie, PA in the Erie Technology Incubator at Gannon University. It is a privilege to be in the company of other progressive-thinking businesses on the cusp of bringing transformational changes to our city.