Commission: With some investment and insurance accounts we receive a commission from the company we choose. This is where being an independent Advisor is advantageous. We can choose any investment or insurance company of our choosing. We are not restricted to one company, or a selected menu of companies from our employer or boss. Since the company we chose didn’t have to pay for advertising, sales force or other customer acquisition costs, our partnership works for both parties on a commission basis.
Fee: We can charge a fee from your investment account. The typical fee is 1%-1.5% of Assets Under Management.
Billable Fee: We can invoice for our services based on an hourly amount on a 15 minute increment. Our current hourly cost is $150/hr.
What is your company policy on the privacy of your clients?
Security is of utmost importance in this day and time. We have contracted One Stop PC Doc for all of our IT needs. They are always connected to our devices and get warnings for any issues. We have modern equipment and technology and security are always top of mind for us.
Could you give me an overview of your financial strategy process?
This diagram conveys our process in a simplified way. We understand your needs, concerns, hopes, and dreams through four steps:
Discover: In our first meeting, we explore your true financial needs, goals, concerns, and evaluate your current financial position. We begin to understand you and your situation.
Plan: With a thorough understanding of your current assets and liabilities, we meet to suggest a customized asset allocation for you and explain how it can potentially help improve your portfolio and better achieve your goals.
Commit: Once you have had a chance to review your portfolio for a week, we meet again to answer all of your questions, respond to any concerns, and then mutually commit on to implementation.
Implement: We move your investment strategy forward, consolidate positions, transfer your assets to the custodian, simplify your statements and ensure you have online access 24/7.
With our process, we take the time to understand what matters to you, and then design strategies around your preferences and goals.
What happens if your lead financial advisor leaves the company for any reason?
A contingency plan is an important part of the business for any company. We have a succession plan in place if something were to happen to Michael.
Who is your ideal client?
The core client base in our firm is business owners and pre-retirees. Our ideal business owner is an established business looking to find smart strategies with their current revenue. They are looking to lower their tax liabilities and keep more assets in the firm or their family.
We also work with business owners in the process of selling their business. They are looking for smart strategies on how to receive the cash and reduce their tax liability of receiving their lump sum of money. We generally work with clients with revenues in the $400,000 – $5,000,000 range.
We like to work with individuals with $500,000 – $1,500,000 of investable assets preparing to retire. Normally, this is a client 55 years and older preparing to retire. We have also worked with younger clients that have saved well and want to preserve their assets throughout their lives.