FAQs
​​​​​Q: What is the difference between a financial planner and a financial advisor?
A: A financial advisor is a broader term for a licensed professional who provides advice on investments and financial products. But not every financial advisor is considered a financial planner. A financial planner also provides advice on investments and financial products but is considered a type of advisor who specializes in taking a comprehensive view of clients' financial lives and developing strategies to best meet their long-term financial goals. The financial planner creates a long-term plan, or roadmap, that includes areas such as retirement planning, tax strategies, investments, estate planning, and more.
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Q: What does "fiduciary" mean?
A: Fiduciaries act on behalf of others and have a legal obligation to prioritize their clients' interests above their own.
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Q: Do I need a financial planner?
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A: While it's not mandatory to have a financial planner, working with one can provide many benefits. A financial planner can create a customized financial plan, guide you through complex financial decisions, and provide ongoing support and advice to provide the best route to achieve your financial goals.
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Q: How does a fee-only financial planner get paid?
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A: Fee-only financial planners are compensated by fees for their service, not by commissions. It's important to understand how your financial planner or advisor is compensated and what fees and/or commissions you can expect to pay for their services.
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Q: How often should I meet with my financial planner or advisor?
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A: The frequency of meetings with your financial planner or advisor will depend on your individual needs and goals. Some clients may prefer to meet quarterly or semi-annually, while others may to meet only once a year. Your financial planner or advisor can help determine the appropriate frequency of meetings for you.
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Q: What types of clients do you work with?
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A: As a financial planner, I work with clients ranging from young professionals to retirees, and I specialize in working with pre-retirees and those in retirement. I believe that everyone can benefit from professional financial planning and advice, regardless of their income or net worth.
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Q: How do I get started with a financial planner?
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A: If you're considering working with a financial planner, the first step is to schedule a consultation. During this initial meeting, we'll discuss your financial goals and needs, and I'll provide information on my services and fees. From there, we can determine if working together is the right fit.
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