Questions about fees, custody, and how our fee-only service works

NarStar LLC is a state-registered investment adviser, CRD #337496, registered in Utah and conditionally registered in Texas. You can verify the registration yourself on IAPD (opens in new tab) (search by firm name or CRD number to confirm current status, registration history, and any disciplinary record). Our background, fees, and all conflicts of interest are documented in Form ADV, filed with state regulators.

Nothing changes for your existing accounts. You open a new account at Interactive Brokers (opens in new tab) and fund it with whatever amount you want managed. We only have authority over the IBKR account you specifically set up with Narstar. We can't access, move, or trade anything held elsewhere.

Individual and joint taxable accounts; Traditional, Roth, Rollover, SEP, and inherited IRAs; employer-sponsored SIMPLE IRA participant accounts; trust accounts; and business or other entity accounts. All accounts must be at Interactive Brokers. Your active 401(k) at a current employer stays with the plan. A rollover IRA funded from a previous 401(k) and held at IBKR is managed normally. See the 401(k) rollover guide for the full process.

The standard minimum is $3,000 per account, whether taxable or retirement and whether it holds one or several model portfolios. SIMPLE IRA participant accounts have no minimum. If your balance later drops below the minimum, that alone does not end management. There is no account maximum; $250,000 is only the calculator display ceiling.

The standard minimum is $3,000 per account, whether taxable or retirement and whether it holds one or several model portfolios. SIMPLE IRA participant accounts have no minimum. If one account holds more than one portfolio, each portfolio must start with at least the greater of $100 or 10% of the account's value. We call this the Allocation Floor. We check it only when a portfolio is opened or added. If market moves later shrink a portfolio below that, nothing happens.

Yes. Narstar works exclusively through Interactive Brokers. You open an account at IBKR, fund it with whatever amount you want managed, and grant Narstar limited trading authority over that account. Your existing accounts at other brokerages stay exactly where they are. We have no access to them. IBKR is a publicly traded, SIPC-member brokerage with $500,000 in standard SIPC coverage plus $30 million in excess coverage. Account setup takes about 15 minutes online.

Robo-advisors generally use index funds. Income, Growth, and Speculative select individual stocks. Trend follows price-trend and momentum rules using exchange-traded products and can lose money. You work with a human investment adviser bound by fiduciary duty. Services and costs differ between providers. Read the full comparison.

NarStar LLC is a sole-owner, single-adviser firm. I am the only person who makes investment decisions for client accounts, and Form ADV discloses that as key person risk. If I die, become incapacitated, or no longer hold a license I need to act for the firm, our management of every account ends that day. A temporary absence can also interrupt management. You can then move the account to another adviser or manage it yourself. Your assets stay in your own account at Interactive Brokers the entire time. Nothing is automatically liquidated, and you keep full control of the account.

Fee-only means the adviser's only revenue comes from client fees: no commissions, no product sales, and no payments from anyone but you. Narstar is fee-only. The fee-only structure reduces many common conflicts. It does not eliminate every conflict. Remaining conflicts are disclosed in Form ADV.

A taxable account with one model portfolio pays 0.60% a year for Income, 1.00% for Trend, 1.20% for Growth, or 1.60% for Speculative. Every retirement account, including inherited IRAs, and every taxable account holding two or more model portfolios pays a uniform 1.00% a year on the whole account, including cash. The fee is based on your account's average daily value and billed every three months, after each quarter ends. The uniform rate may raise or lower your fee depending on the mix. Narstar charges no signup or exit fees. Interactive Brokers charges its own brokerage commissions and fees.

Nothing changes for you until you sign our new advisory agreement. You keep the minimum stated in your initial advisory agreement.

Your rate depends on how many model portfolios your account holds. We count the ones listed in Exhibit A of your agreement, even one that is temporarily all cash. Portfolios we've discontinued don't count.

Have two or more taxable accounts with us in the same registration? When you sign, you pick one: combine them into a single Combined Account, or keep all of them separate. Before you sign, we show you in writing what each account pays, before and after, for both choices.

If you keep them separate, they count as one taxable account holding all their listed model portfolios to set the rate. Each account then pays that rate on its own value. So changing a portfolio in one account, or ending management of one account, can change the rate for all of them. Your rate never goes up without your written approval. Your advisory agreement has the full terms.

No. Narstar is an investment adviser, not a tax adviser. We don't provide tax planning, prepare returns, or advise on tax strategy. When managing taxable accounts, we're mindful of the tax implications of trading decisions, but that's not the same as tax advice. For tax questions, consult a CPA or tax attorney.

The advisory fee is calculated as a percentage of your average daily net liquidation value for the quarter, as determined by Interactive Brokers. Each quarter we bill one-fourth of the annual rate. For a taxable Growth account at 1.20% per year, that's 0.30% per quarter. On a $50,000 average daily balance, the quarterly fee is $150. Traditional, Roth, Rollover, SEP, SIMPLE, and inherited IRAs use a uniform 1.00% annual rate regardless of model portfolio mix. At a $50,000 average daily balance, that is $500 per year, billed in $125 quarterly installments. The fee is deducted in cash directly from your IBKR account by the custodian. The custodian sends a fee notice for each deduction, and the fee appears on your account statement. You do not receive a separate bill to pay. If your account has little or no cash when the fee is due, we may sell a position to cover it, and Interactive Brokers may also sell positions without notice. Any tax from that sale is your responsibility. No fee is charged while your account is below the custodian's minimum billing threshold, and no fee is back-charged once you cross that threshold. In a taxable account where Interactive Brokers allows margin, the deduction may instead create a negative cash balance. We generally cover it within five business days, including by selling positions as part of our discretionary management, but Interactive Brokers may sell positions first, without notice. The negative balance may appear as a short-term margin loan, and any margin interest that results is your responsibility.

Yes. Interactive Brokers charges its own commissions and fees on trades placed in your account. These go directly to IBKR, not to us. We have no financial incentive to trade frequently. Our advisory fee is based on account value, not transaction volume, so there's no reason for us to churn your account.

Short answer: no, not on your federal return. Advisory fees paid from a taxable account used to be claimed as a miscellaneous itemized deduction. The Tax Cuts and Jobs Act of 2017 suspended that deduction, and the 2025 federal tax law made the disallowance permanent. Fees paid inside an IRA work differently, because they come out of pre-tax money rather than being deducted on your return. State treatment can differ, tax rules change, and your situation matters. Talk to a CPA.

Fee-only means the adviser earns compensation from client fees and nothing else. Fee-based means they can also earn commissions from product sales. A fee-based adviser may have a financial incentive to recommend products that pay them, even if those products aren't the best option for you. Narstar is fee-only. See the full breakdown in fee-only vs. fee-based adviser.

At Interactive Brokers (opens in new tab), in an account in your name. IBKR is a SIPC member with $500,000 in standard coverage plus $30 million excess coverage. You can verify SIPC coverage on IBKR's site (opens in new tab). SIPC protects you if the brokerage fails, not if investments lose value. Your money is invested in the portfolio you choose, and its value can go up or down.

No. We cannot withdraw assets for our own benefit or send money to a third party. Interactive Brokers deducts our advisory fee from your account. We may move cash only between accounts you own at Interactive Brokers in the same registration and only on your written instruction to fund, implement or rebalance your agreed allocation. Your written approval of a model portfolio change can provide that instruction. Only you can arrange transfers outside Interactive Brokers.

Yes. You can end the agreement anytime in writing. There's no exit fee. When you leave, we normally sell your holdings to cash, which can create a tax bill. There is no lock-up period. We confirm when your notice takes effect. Required confirmations can affect when selling begins. Management ends when we have sold every position we reasonably can or at the close of regular trading on the fifth business day after the notice takes effect, whichever comes first. If a required confirmation is still missing then, management ends without a sale. The advisory agreement lists exceptions and restrictions on removing trading authority or transferring securities in kind before management ends. Advisory fees accrue through the day management ends. Your cash and any positions remaining at that time stay yours at Interactive Brokers. See Form ADV Item 4.N and your advisory agreement for the full terms.

Log in to Interactive Brokers directly. IBKR shows real-time positions, transaction history, and statements. Narstar doesn't have a separate portal. Everything happens in your IBKR account, and you can set up alerts there for any account activity.

Interactive Brokers sends account statements directly to you at least quarterly. Narstar reviews each Model Portfolio at least quarterly and each client account at least annually. You can request an additional review or a written portfolio summary or performance report at any time.

Narstar maintains physical, electronic, and procedural safeguards, including encryption and access controls, to protect client information. We do not sell client data or share it with nonaffiliated third parties for marketing. Read the Privacy Policy for the full notice and your rights.

You can request a withdrawal from your Interactive Brokers account at any time. We have no ability to block or delay it. Most withdrawals process within one to three business days depending on the method. If you need the full balance, you would typically sell holdings first, wait for settlement (generally one business day for most U.S. stocks, with some exceptions), then withdraw. If you end the advisory agreement, we normally sell your holdings to cash, which can create a tax bill, subject to the exceptions in the agreement. Advisory fees accrue through the day our management ends.

Dividends paid by stocks in your account are deposited directly into your IBKR account by the paying company. We don't automatically reinvest them. The cash sits until the next portfolio review, at which point it goes into positions below their target size, or stays as cash if nothing fits. The Income Portfolio is built around stocks that pay dividends regularly. Dividend amounts are set by each company and can be reduced or eliminated at any time.

Yes. You can fund your Interactive Brokers account at any time. New cash is invested in the model portfolio at the next portfolio review, directed toward positions below their target size or new ideas. There's no minimum for subsequent contributions and no maximum. Adding funds doesn't change your portfolio assignment or advisory agreement.

Reach out via the contact form below, email, or phone and we'll help figure out the right fit. Generally: Income is for investors who want stocks selected for cash flow and are comfortable with equity risk. Trend is for investors who can bear losses, including sudden ones, and qualify for custodian permission; permission alone does not establish suitability. Growth is for long-term investors who won't need the money for at least three years. Speculative is for a small portion of capital you can genuinely afford to lose, not retirement savings and not money you need soon. Each portfolio page goes deeper on who it's built for and what the risks are.

Yes. All four portfolios can lose money, including what you put in. Income carries normal stock market risk, and dividends can be cut. Trend can lose money when signals are delayed or false, when trends reverse suddenly, or when prices move sideways. Its complex products carry their own risks, including sudden losses and, for exchange-traded notes, a total loss if the issuer defaults. Growth carries normal stock market risk, including long periods of underperformance. The Speculative Portfolio is more concentrated in smaller companies and can decline sharply, including 30%, 40%, or more.

Income and Growth trade rarely. We buy positions we intend to hold. Trend trades when its price-trend and momentum rules call for a change, so its activity depends on market conditions. The Speculative Portfolio may see more activity when positions are entered or exited based on changing conditions. We don't churn accounts. Our advisory fees are based on account value, not transaction volume, so there's no financial incentive to trade more than necessary.

Yes. A taxable or retirement account can hold more than one model portfolio, if the mix fits your situation and each portfolio meets the Allocation Floor. A taxable account with one model portfolio pays 0.60% annually for Income, 1.00% for Trend, 1.20% for Growth, or 1.60% for Speculative. Taxable accounts with two or more model portfolios and all retirement accounts, including inherited IRAs, use a uniform 1.00% annual rate on the whole account, including cash. Changing model portfolios or target allocations requires your written approval, and the advisory agreement's discontinuation and exit terms apply. Read the allocation rules.

The Income Portfolio holds dividend-paying stocks selected for cash flow. Dividends are deposited into your account when paid by the underlying companies. It carries normal stock market risk. Dividends can be cut and share prices can fall. It's not a fixed-income product and doesn't guarantee any level of income. See the Income Portfolio page for full details on what it holds and who it's built for.

Trend follows price-trend and momentum rules using U.S.-exchange-listed products. Delayed or false signals, sudden trend reversals, and sideways markets may cause unexpected losses. Daily-reset leveraged and inverse products may be held longer than one day, when results can differ materially from their stated daily goal. Commodity-linked, crypto-linked, and exchange-traded note products carry distinct risks, including issuer default, which can cause a total loss, and tax issues. A client must independently request and obtain IBKR Complex Leveraged Products permission. Permission does not establish suitability, and an order rejected by the custodian is not executed. Read the full Trend strategy and risks.

The Growth Portfolio holds companies selected for durable competitive advantages, with the goal of long-term compounding. Positions are intended to be held for years. It's suited for investors who won't need the funds for at least three years and are comfortable with price swings, including extended periods of underperformance. See the Growth Portfolio page for full details.

The Speculative Portfolio holds higher-volatility positions in smaller companies, including small-cap, thematic, and select emerging-market holdings. It carries more risk from individual companies than Income or Growth and can decline sharply, including 30%, 40%, or more. It's not suitable for retirement savings or money you need access to. It's intended for a small portion of capital you can genuinely afford to lose. See the Speculative Portfolio page for full details.

No. These are fixed model portfolios. All clients assigned to a given portfolio hold the same positions. After you reach out, we send a short questionnaire about your goals, timeline, and how much loss you're comfortable with to find the right match, but the portfolio itself doesn't change from client to client. Narstar doesn't build custom portfolios.

Income, Growth, and Speculative use individual stocks and may hold cash equivalents. Trend uses U.S.-exchange-listed products and may hold leveraged, inverse, commodity-linked, and crypto-linked products. These products have expenses and distinct risks, and Trend can lose money. We do not buy cryptocurrency directly or trade derivatives directly. Read the Trend strategy and risks.

Narstar works well for people who want their money actively managed and don't want to spend time doing it themselves. You'd want to understand that stocks go up and down, be comfortable opening an account at Interactive Brokers, and prefer talking to an actual person rather than an algorithm. If that sounds right, reach out via the contact form or email.

Narstar is probably not the right fit if you need financial planning, budgeting help, debt advice, or insurance guidance. It's also not right if you want a portfolio built entirely around index funds (a robo-advisor would cost less), if you need your money back within the next year, or if you're not comfortable with the possibility of losing money, including what you put in. Being clear about fit saves time on both sides. If you're not sure, send a message and ask.

Investment management only. Narstar manages your portfolio at Interactive Brokers. We don't provide financial planning, budgeting advice, debt management, insurance analysis, estate planning, or tax planning. Those are separate disciplines. If you need a full financial plan first, a fee-only financial planner who charges by the hour and doesn't manage assets may be a better starting point.

Yes. Narstar is a one-person firm. I'm the only investment adviser representative, and every trading decision and every reply to your messages comes from me directly. At larger firms, your account may be managed by someone you've never spoken to. Here, there's nobody to hand you off to. That said, it also means the relationship depends on one person continuing to operate the business, which is disclosed as a risk in Form ADV.

Reach out using the contact form below, email, or phone. We'll send you our disclosures and a short questionnaire about your goals, timeline, and how much loss you can handle. We review your answers and reply within two business days with a recommended portfolio and any follow-up questions. If it looks like a fit, you open an account at Interactive Brokers (about 15 minutes online), fund it with whatever amount you want managed, and grant Narstar limited trading authority. We take it from there. Before management begins, you sign our advisory agreement. You can end the agreement anytime in writing. There's no exit fee. When you leave, we normally sell your holdings to cash, which can create a tax bill. Advisory fees accrue through the day management ends.

Income, Growth and Speculative use company-based investment decisions. We review holdings and may sell when our reason for owning a company changes. Trend follows price-trend, momentum and historical-volatility rules; unfilled allocations use short-term Treasury funds. Positions can change as conditions change. All four portfolios can lose money, including what you put in. Trend and Speculative can both suffer sudden and significant losses, and some products Trend may hold, such as exchange-traded notes, can lose their entire value. If a sharp decline would cause serious financial hardship, discuss that with us before investing.