Frequently Asked Questions

for potential clients

Frequently Asked Questions

What is financial planning?

Financial planning is an ongoing process involving: goal-setting, "cash-flow" planning (what $ are going where), risk management, investing, tax strategy, estate planning (wills/trusts, gifting), and debt management. At least that's the technical definition.

I take it a step further and practice what's called financial life planning, which integrates the financial topics above with what matters in your life and what's important to you. Discovering your values, your views about money, and what inspires you is part of the process to make sure the financial plan aligns with what really matters.

After all, nobody has ever wanted their life to be just about owning a diversified portfolio or saving up a few million dollars. Rather, a diversified portfolio or the money we've saved makes possible the things we want to do with our lives, and THAT is what should be at the center of any true financial plan.

And a financial plan is not merely a one-time deliverable or a giant stack of documents and spreadsheets full of numbers and graphs. Those are helpful tools, but real financial planning is a fluid process of adapting to changes in your life and making well-informed, mindful decisions about today and tomorrow.

Who is your typical client?

I do my best work with people who are:

Age 40-60+
Making household income of $200,000+ and/or net worth of $1,000,000 +
Looking to get very focused on preparing for retirement
Wanting a strategy to minimize taxes long-term (both now and post-retirement)

Click here to view sample client cases and how we helped.

Many of my clients come from SERS (PA State Employee Retirement System) and Geisinger/Evangelical Hospital, and I work with quite a few business owners as well.

And don't worry, if you don't fit the above criteria that doesn't mean I won't help you! I'm happy to have an intro meeting with you to see if I'm the best fit, and if not, I will refer you to someone who is a better match and specializes more in what you might need.

What can I expect in our first meeting?

You can expect me to do a lot of listening. You won't be pitched, pressured, or asked to make any commitment at all. In addition to financial questions, I may ask others such as:

"What matters to you, and why?"

“If you had more time or money, what would you do?”

“What do you want to accomplish or attain so you will feel that you’ve had a life well-lived?”

“What moves, or inspires you?”

It's important to discover what really matters to you and what needs to be at the "heart" of your financial plan. You are of course welcome to ask any questions you have to see how you feel about working together and make sure it's a good fit.

Why should I work with you over another financial professional?

To be totally upfront, I don’t know for certain if you should.

My practice is designed for those who are looking for comprehensive financial advice and desire a long-term relationship with an experienced financial planner.

Rather than just opening investment accounts, I enjoy building relationships with my clients and helping them design a plan that integrates their finances with what matters most to them in life.

If that sounds like what you’re looking for then I might be the right fit for you. And if not, I can help you find someone who is a better match.

Do I need to have a certain amount of money to work with you?

Not at all!

One of my goals was to make financial advice more accessible, instead of just to those who have money immediately available to invest.

Many of my clients are mid or late career and have the majority of their assets invested in their 401k, pension, or other retirement plans, and some have their net worth tied up in real estate or businesses.

That’s why I also offer a fee-based planning structure so more people can get the advice they need without having to meet an investment minimum.

Do you just do investments?

No, I do investments plus a whole lot more!

A big myth about financial planning is that it consists of just opening investment accounts and picking out stocks or mutual funds.

In reality, investment management is just one part of the comprehensive financial planning picture.

Tax planning, retirement analysis, risk management, optimizing retirement plans (401k, etc.), and financial coaching are other areas that are just as critical.

How do you get paid?

The best part of being an independent financial planner is I am paid only by my clients. I receive no compensation from anyone other than you, and have no incentive to recommend any particular investment or financial strategy over another.

For those who need investment management, I charge an annual fee that ranges from 0.35%-1.25% on assets that I manage (fee varies depending on asset size and/or planning complexity).

For example, if you invested $500,000 at a fee of 0.75%, then that would be an annual cost of $3,750.

I also do flat-fee financial planning for those who may not have investable assets, have assets held in employer plans/businesses/real estate, or those who prefer to manage their own investments but still want financial advice.

Comprehensive financial planning fees can range from $4,200-$12,000 annually depending on the complexity and time involved.

I prefer to offer both options, as this provides you with objective advice and allows you to choose which works best for you. It also gives me the opportunity to focus on the entire financial planning picture instead of just investment transactions. This way you're paying for advice and guidance and not just being sold a product.

What’s the difference between a financial advisor and a Certified Financial Planner™?

Great question!

The way the financial industry is regulated, just about anyone with a license to sell financial products can use the title “financial advisor”. It’s a very generic term that doesn’t give much insight into that individual's experience or competence level.

A Certified Financial Planner™ is someone who has met strict education, fiduciary, and ethical requirements and does much more than just help you with an investment account. A CFP® professional is there to help put the pieces together to create a comprehensive plan - this includes investment management in addition to tax planning, risk management, retirement planning, and more.

Why do I need a financial planner?

If you have the time, interest, and expertise to devote to finances, then maybe you don't.

The reality is most people don’t usually have all three of those elements. Some may have the interest, but lack the time (or vice versa), and it’s rare to have the proper expertise if you haven't spent time in the industry.

Aside from the obvious technical expertise, a financial planner can add value by helping you prioritize your goals, bring a fresh outside perspective, and help you gain clarity around your finances.

In addition, I find the most positive feedback I get are from those who feel that just having an accountability partner to help them take action has made the biggest difference in their financial lives.