David has fourteen years of experience in the financial services industry. He grew up in Ellicott City, Maryland and traveled south to The Georgia Institute of Technology to earn a degree in engineering. As many STEM graduates do, David decided to apply his technical education to the field of finance and joined T. Rowe Price Group, Inc. in Baltimore to start his career in 2007. In 2011, he launched Middleton Advisory LLC and offered financial advisory services to the public. David has earned the CERTIFIED FINANCIAL PLANNER (TM) designation by taking coursework through New York University and passing a two day, ten hour exam. David also earned the Accredited Investment Fiduciary® designation by taking coursework though Stetson University and passing an exam. David is passionate about offering investment education to the public and providing holistic financial planning and investment management to qualified clients. He lives in Burtonsville, Maryland with his wife and two kids.
Middleton Advisory is a fee-only Registered Investment Adviser in Bethesda, MD, founded by David Middleton to begin his private practice. Services are offered in the entire state and surrounding areas, with the ability to take on clients across the country. David's mission is to help clients implement the best possible investment strategies based on their unique needs.
After several years of experience at T. Rowe Price, David founded a completely independent firm, with no obligation to any broker-dealer or investment company. This allows Middleton Advisory to completely avoid investments that carry sales loads or commissions. Instead, a variety of low-cost investment funds are used to implement prudent strategies, following the principles of diversification and asset allocation.
General Information |
| Firm Start Year: | 2010 | |
| No. of Employees: | 1 | |
| States Licensed in: | MD |
| Number of Years with Current Firm: | 10 |
| Work with the following types of clients: | Businesses, Individual Investors, Non-Profit Organizations |
| Advisory Services Provided: | Financial Planning for Businesses, Financial Advice & Consulting, Investment Advice & Management, Financial Planning, Portfolio Management, Financial Planning for Individuals, Education Funding and Planning, Risk Management, Money Management, Wealth Management, 401K Rollovers, Retirement Planning |
Services |
| Investment Types: | Mutual Funds, Bonds, Stocks, Exchange Traded Funds (ETFs), Socially Responsible Investments (SRI) |
| Can meet clients in the following ways: | Email, Your Office, Phone, Video Conference, Your Home, Our Office |
Firm Information |
| Advisor's Number of Clients: | 23 |
| Advisor's Number of Managed Clients: | 23 |
| Advisor's Number of Planning Clients: | 23 |
| Assets Managed by Advisor: | ~$16,000,000 |
Compensation and Fees |
| Fee Structure: | Fee-Only |
| Minimum Portfolio Size for New Managed Accounts: | $500,000 |
| Fee % Based on Assets: | 0.92% |
Education |
| Bachelors of Science - Mechanical Engineering | Georgia Institute of Technology - Atlanta, GA -May 2007 |
| Certificate in Financial Planning - Financial Planning | New York University -May 2014 |
Financial Services |
| Financial Planning for Individuals
After thorough discussion and analysis, clients receive a financial plan from me that outlines the proper investments and strategies for their unique circumstances. I then implement the plan with a limited power of attorney agreement. Remember, I will never take custody of your assets and cannot transfer assets between accounts. |
| Portfolio Management
Implementing an appropriate portfolio of investments is the heart of every wealth management plan. Every client is treated as a unique individual while finding the proper low-cost mix of stocks, bonds, commodities, and cash equivalents. Every one of a client's accounts, including IRA's, brokerage accounts, 401(k)'s and trusts are all considered as pieces of a whole. I use modern portfolio theory to construct an appropriate and diversified mix of investments with a reasonable expected rate of return based on market expectations, risk tolerance, and any special circumstances. If desired, Middleton Advisory clients are able to invest their portfolio in a way that favors companies fitting certain social and environmental criteria. Investing in this way allows you to express world views through your investments and exert a small influence on corporate decision makers who are ultimately driven by the price of their companies stock. This method does not necessarily require clients to accept lower rates of return. |
| Retirement Planning
Retirement planning is about managing uncertainty. How long will you live? How much money will you need to spend every year after you retire? How much will your investment portfolio grow over time? How much will your children inherit? I can help you understand the spectrum of possibilities for the future and manage your investments based on your goals. |
| Annuities
In my opinion, annuities should have a very limited role in your financial plan. Generally, paying an insurance company to insure your portfolio's income generation is more costly then it's worth. Often it's better to delay social security payments for a higher minimum benefit later in life and manage your portfolio with the understanding that principle is not guaranteed. |
| Investment Management & Advice
Implementing an appropriate portfolio of investments is the heart of every wealth management plan. Every client is treated as a unique individual while finding the proper low-cost mix of stocks, bonds, commodities, and cash equivalents. Every one of a client's accounts, including IRA's, brokerage accounts, 401(k)'s and trusts are all considered as pieces of a whole. I use modern portfolio theory to construct an appropriate and diversified mix of investments with a reasonable expected rate of return based on market expectations, risk tolerance, and any special circumstances. If desired, Middleton Advisory clients are able to invest their portfolio in a way that favors companies fitting certain social and environmental criteria. Investing in this way allows you to express world views through your investments and exert a small influence on corporate decision makers who are ultimately driven by the price of their companies stock. This method does not necessarily require clients to accept lower rates of return. |
| Wealth Management
Wealth Management is the combination of investment management and financial planning into a holistic and long-lasting relationship. This relationship involves coordinating with your tax advisor, attorney, and insurance agent. |
FAQs |
Do you have a customer satisfaction or refund policy?Client contracts may be cancelled at any time with 30 days advance notice. |
What are your qualifications? What is your education background?David has earned the CERTIFIED FINANCIAL PLANNER (TM) designation by taking coursework through New York University and passing a two day, ten hour exam. David also earned the Accredited Investment Fiduciary® designation by taking coursework though Stetson University and passing an exam. David holds a bachelor's degree in Mechanical Engineering from The Georgia Institute of Technology. |
How are you compensated? How will I pay for your services?The annual fee is a standard 0.92% of managed assets. Fees are automatically processed from accounts on a quarterly basis and reported on custodial statements. |
If you are going to manage my account, will you obtain my permission every time you buy or sell something?No, the client contract grants limited power of attorney for Middleton Advisory LLC to manage accounts without prior authorization for every trade or transaction. However, transactions are limited to internal trades or to transfers to/from a client's authorized bank account. |
How many clients do you currently manage?23 |
Disclosures |
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WiserAdvisor provides referrals to financial professionals. WiserAdvisor is not a current client of advisor or advisory services. Financial professionals pay cash compensation for these referrals, which creates the incentive for WiserAdvisor to make these referrals, resulting in a conflict of interest. |
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Additional Detailed Disclosures |
Registered Investment Advisor:
Yes
Investment Advisor Representative:
Yes
Acknowledged fiduciary:
Yes
Compliance Disclosures in Last 5 years:
I have a clean record
Criminal Disclosures in Last 5 years:
I have a clean record
| Services can be provided to anyone in the U.S. |
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