Typical Client I serve:
While each client is unique, there are a few commonalities that might help you determine if you would also benefit from my services. Most clients are either retired or within 10 years of retirement. They are fairly conservative investors that place high value in the safety of their principal and less emphasis on taking risk in effort to generate maximum return. When they do take risks, they do so in a measured way with full knowledge of the potential returns vs the risks. They want an asset management plan to guide their decisions for the long term. They plan their work, then work their plan. They are successful in work life, family oriented, engaged in their community, and with life purpose that far exceeds physical possessions.
How I Work
I am a CERTIFIED FINANCIAL PLANNER™ professional and an Investment Advisor Representative that acts as a Fiduciary for my clients. This means I have a legal obligation to put clients’ interests far before my own in all recommendations I make.
Every client receives a financial and investment management plan tailored towards their unique financial goals and objectives. The Standards of Professional Conduct (Standards) define financial planning as “the process of determining whether and how an individual can meet life goals through the proper management of financial resources. Financial planning integrates the financial planning process with the financial planning subject areas.”
(see Six Steps of Financial Planning)
Six Steps of Financial Planning
There are six steps to the financial planning process:
1. Establishing and defining the client-planner relationship
2. Gathering client data including goals
3. Analyzing and evaluating the client's current financial status
4. Developing and presenting recommendations and/or alternatives
5. Implementing the recommendations
6. Monitoring the recommendations
I communicate regularly with clients via technology (email is my preferred communication medium, it’s creates a permanent record). My experience is that it is very difficult for financial advisors to perform their job if they are on the phone or in meetings all day, every day. As such I schedule time for meetings with clients with a predetermined agenda.
I conduct a review with each client twice per year and provide email support between meetings. Some of my clients are local to Northville, Michigan (where I have an office) - but many are from all over the United States and we work together virtually. Under this arrangement we use web conferencing, phone, and email to regularly communicate.
What I charge:
I charge a simple, low, flat fee for financial planning. In almost all cases the planning fee is between $500 and $600 and comes with a 100% satisfaction guarantee or you pay nothing.
If the plan calls for an insurance product, all surrender schedules and fees will be clearly disclosed during the planning process.
For clients that want ongoing help managing their investments, fees are based on a percentage of assets under management. When we recommend a managed account it is done so via an independent custodian and we never take custody of client assets. This is important as it protects investors from fraud and theft. Most of our client's assets are held with either Fidelity Investments, TD Ameritrade or Trust Company of America though we have the ability to work with others if the situation calls for it.
Who I will work with?
Because of the personal nature of financial planning I feel that clients and their advisors must get along and work as a team. Good financial planning and investment management doesn’t work overnight. It takes time, patience, and trust.
I’ve done the best I can at structuring my work and services in a manner that gives clients personal attention, access to account information and financial management support.
Due to advancements in technology I’m happy to work with investors all over the United States (as briefly mentioned above). I have a web-based virtual meeting program that allows me to work with clients in a very personal manner despite being hundreds or even thousands of miles apart. If you’ve never thought about working with an advisor virtually - I think you’d be pleasantly surprised how easy, efficient, and enjoyable it can be. If you live in or near Northville, Michigan my firm has an office and I’m more than happy to meet you for a face to face meeting as well.