Services and Availability

Where do you offer your services?

Primarily, we serve clients in Virginia and North Carolina. We can, and often do, obtain licenses as needed to continue servicing clients who move to other states.

Do you provide services for overseas residents or non-U.S. citizens?

No. We are only licensed and registered to provide services for U.S. citizens residing in the United States.

What is the best way to contact you?

We can be reached via phone, email, text, fax, and regular mail. Our local office phone is staffed on weekdays from 9:00 AM to 5:00 PM.

What meeting formats are available?

We can meet in person, by phone, or online, depending on the type of meeting. Financial Roadmap Consultation meetings are always done in person in our offices. We use Zoom™ technology for online meetings. All meetings are scheduled by appointment.

Do you offer insurance services?

Yes. We provide a comprehensive range of insurance services, including life, long-term care, disability, and variable products for individuals and business clients. Using Holistiplan (TM), our AI-enabled software tool,  we can analyze your current property and casualty (P&C) insurance coverages and provide feedback on areas that may require further review and/or revision by a licensed P&C professional.  

Do you offer mortgages or loan products?

No. We do not have a bank that offers mortgages or other loan products. We do have strategic partnerships with local professionals who provide those services and can refer clients to them.

Firm Background

How long have you been in business?

Coastal Virginia Wealth Group was formed by a core group of financial advisors who worked together in the Virginia Beach branch office of Waddell & Reed, Inc., founded in 1936. The wealth management division of that business was sold to LPL Financial in 2021.

LPL Financial, founded in 1968, provides services for independently owned financial services firms. Coastal Virginia Wealth Group organized into an independent firm whose advisors affiliated with LPL Financial in 2021. In 2024, we moved offices from Virginia Beach to our current location in Chesapeake, Virginia.

How long have you been a financial advisor?

Mike Barclift started practicing in 2004 and has been continuously employed in the profession since then.

What credentials, licenses, and certifications do you have?

Mike Barclift holds the following designations, licenses, and certifications:

Chartered Financial Consultant (ChFC®)
Chartered Life Underwriter (CLU®)
Accredited Estate Planner (AEP®)
Series 6, 63, 65, 7, 31, and SIE held through LPL Financial
Life, Health, Long-Term Care Insurance, and Variable Products

Details on licensing, exams, and registrations can be found here:

Learn More

Fees and Expenses

How do you get paid?

We are compensated in several ways depending on the services we provide to the client. These methods include fee-based investments, commissions, and financial planning fees. Details about compensation and conflicts of interest are included in Form ADV Part 2B.

View Form ADV Part 2B

Do I have to move my investments to be a client?

No. We can provide our services on a fee basis whether or not you decide to have us custody your investment accounts. With client permission, our technology allows us to access outside account information so we can provide comprehensive planning and advice services across all your assets.

What methods of payment are available to pay for your services?

We can accept payments for services in many ways, including checks, automatic bank drafts, debit or credit cards, and automatic transfers from existing investment accounts.

What are your asset management fees?

Fees vary based on the specifics of each client engagement. Not all clients use managed asset solutions. Asset management fees may be lower for certain types of investment solutions, such as automated investment platforms or select fixed income solutions.

Details for all asset management fees and expenses are provided in writing before clients enroll, as part of the account opening process, and are reported in client statements.