What is a financial planner?
A financial planner is a professional who reviews your assets and liabilities and coordinates them to align with your goals. The planner explains and suggests improvements to make the functioning of your finances better. By integrating all elements, inefficiencies or inadequacies can be removed. Sometimes there are small changes that will make a significant difference over time. Sometimes there are gaping holes that need to be filled immediately. There are many possible scenarios you may be in and not even realize it. A financial planner can sort things out for you, get you pointed in the proper direction, and maximize the possibility of reaching your lifetime goals.
What do we cover in the Get Acquainted meeting?
The Get Acquainted meeting is 30 minutes in length and is designed to establish how much work your financial plan will require to complete. We will go over your confidential questionnaire and I will ask you some questions about your needs. You will have an opportunity to ask me questions to determine if you want to work together. This free meeting allows us to get to know each other a bit before committing to any work or fees. At the end of the meeting I will prepare a quote for you that includes a capped maximum price for a custom, hourly project or an estimated number of sessions needed to produce a complete financial plan.
What topics do you cover?
We cover all aspects of your financial life as your situation dictates including your budget and cash flow, financial statements, debt issues and repayment schedules, insurance coverage including life, home, auto, health, disability, long-term care, social security, investments including rental properties, college savings plans, estate planning documents and others. By coordinating all of these aspects, you will see the most benefit.
What benefits and solutions can you provide for me?
We work together with you to uncover and improve any issues you may have. As a fee-only fiduciary, we are on your side. Andrew Marshall Financial, LLC will always suggest only what is in your best interest. We do not sell products and can therefore focus on developing the best course of action for your situation. There are no hidden charges, and you pay only for as little or as much help as you need. More info about our offerings is here.
Do you have a typical client?
AMF’s typical clients have previously been managing their finances on their own. They have been able to handle the basics, but feel now is the time to talk to a professional. Their situation has been getting more complicated. They have done some research, but are not sure how the information they gathered applies to them. They want trustworthy, professional, uncompromised advice to show them the best way forward for their unique situation.
Can I afford you?
Hiring a fee-only financial planner is a wise investment. Our pricing is competitive with other hourly, fee-only financial planners in the area. I believe our fees are well worth the benefits you will gain from our financial planning. Some changes we suggest will immediately help your situation, others will show their benefit over time. By having your money work efficiently over the long run, you will reap the benefits of hiring a financial planner. The cost of not handling your finances appropriately could be much higher than our fees. A link to our pricing is here.
What is a fiduciary?
A fiduciary is someone who is required to put your interests ahead of their own. Few agents and advisors in financial services work under the fiduciary label. Most only fulfill the lower standard of “suitability”. As a Registered Investment Advisor with the State of California, I am a fiduciary and required to put your interests ahead of my own.
Why should I pay for a financial plan when some companies provide them for free?
The free financial plan has been used for years by brokers as a ploy to sell high-cost propriety products. These companies have an inherent conflict of interest and do not hold to a fiduciary standard. Some reputable companies like Vanguard offer low-cost plans which are pretty good, but they are often limited to investments and don’t offer the level of customization that you get from a personal financial advisor. More importantly, they are not independent because they also sell their own products. If you want unbiased financial advice crafted to your unique circumstances, we think that our services offer a better solution.
Is it worth the effort to create a financial plan?
Completing a financial plan will require discovery of your motivations, your desires, your weaknesses and your habits. I will analyze your information, educate you on your options and share my recommendations. After discussing the options, you will be the one making the final decisions about how you want to organize your financial life. There may be some prioritizing and compromising that needs to be done. Through the process you will discover what is truly important to you and you will finish with the satisfaction that you are living a life that is most meaningful to you and your loved ones.
Completing the process will leave you with a very satisfied feeling of being in control of your life. You will be able to go to sleep at night knowing where you stand and that you are making the right steps to reach the goals you have for you and your family. There are few things that can give you the same piece of mind as a completed financial plan.