Author Topic: Ever hear of Mid Atlantic Capital Group?  (Read 1429 times)

BlueHouse

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Ever hear of Mid Atlantic Capital Group?
« on: April 19, 2014, 03:05:17 PM »
 I use Paychex for all business things (Payroll and 401K plan admin) and the default 401K was held by Fidelity, but with a very limited selection for investments.  So about a year ago, I upgraded the company 401K plan to one called "open fund" that gave me many more options (including Vanguard Index funds, which was really why I started the change).  The new plan is serviced by a company called Mid Atlantic Capital Group (also seems to be affiliated with Mid Atlantic Capital Trust).  I've never heard of this company.  There is very little about them on the web except for their own information. 

Is there any (free) service to tell me that this is a legit operation? How do I know I'm not getting Madoff'ed? 

MDM

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Re: Ever hear of Mid Atlantic Capital Group?
« Reply #1 on: April 19, 2014, 03:22:27 PM »
Have you seen their ADV form?  See http://www.investopedia.com/terms/a/advform.asp and http://www.adviserinfo.sec.gov/IAPD/Content/IapdMain/iapd_SiteMap.aspx and https://www.sec.gov/answers/formadv.htm.

In particular, "Most advisors will offer a current Form ADV to any potential client early in the marketing process; in fact, investors should be immediately cautious of an advisor that does not freely offer the form upon request."

Of course, Madoff probably filed an ADV form....

BlueHouse

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Re: Ever hear of Mid Atlantic Capital Group?
« Reply #2 on: April 19, 2014, 03:50:13 PM »
MACG does not act as an investment advisor for my plan.  They are defined (by Paychex) as a "Transmittal Vendor Services". 
MACG's fee disclosure statement states that (for my plan), they provide Trade Execution Services and Custodial Services. 
After reading the description of the ADV, not sure that it applies.  But to answer your question, no, I've never received an ADV form from anyone.