| Frequently Asked Questions |
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| Francis
Financial is an independent, fee-only financial advisory
firm. We work with individuals who want to get control of
their money and finally feel secure about their finances.
Most clients find the financial planning process to
be stimulating and enlightening. The end result, of course,
is greater peace of mind. We look forward to helping YOU
build a brighter financial future! Call today for a free
"Get Acquainted" Meeting. |
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| What
is the "Getting Acquainted" Meeting? THIS MEETING IS FREE. |
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During this meeting, we will discuss your financial goals as well as touch on your current financial situation. Some questions you may be asked include:- What is important about money to you?
- What are your goals and dreams?
- What opportunities do you see in working with an independent financial advisor?
- What do you expect to accomplish by working with an independent financial advisor?
This meeting is intended to determine if Francis Financial is a good fit for your needs. We want the best for your needs, and if we are not a good fit, we have wonderful referrals to ensure your needs are met. |
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| What
is the "Fact Finder" Meeting? |
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If together we find that Francis Financial is a good fit, the next meeting will be the "Fact Finder." Before this meeting, you will need to gather the financial documents that support the completed Francis Financial Client Confidentiality Questionnaire. This will allow us to learn the details of your financial situation as well as determine your risk tolerance. This information is crucial because it gives us more information about your needs and ensures the fact finder meeting is very beneficial.
During the "Fact Finder" meeting, you will be ask detailed questions regarding:- Current assets
- Liabilities
- Expenses
- Insurance polices
- Retirement accounts
- Estate planning documents
All of these documents help create the most efficient comprehensive plan. |
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| When
will I see the plan you recommend? |
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| Once we have gathered all necessary information, we will schedule another meeting date at which time we will present the financial plan. Once the comprehensive plan is completed it is your task to go out and implement our recommendations. |
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| What
is your investment philosophy? |
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Francis Financial's view is not that "Life is too short," but rather that "Life
is too long not to be doing those things that are fulfilling
and rewarding," and that the majority of people in our society
and culture are struggling to obtain a more meaningful and
joyful life.
We believe that much of the "financial advice" people receive
comes in the form of advertisements, which suggest, in powerful
images, that happiness and/or fulfillment can be achieved
by the purchase of this or that advertised item. Our goal
is to help people recognize their individual view of happiness
and/or fulfillment, so they can determine which personal
expenditures further their progress toward that goal and
help them achieve financial freedom.
At our firm, we do not believe in the concept of "hot" stocks
or in seeking short-term returns from any investment. Nor
do we believe in attempting to "time" the market, which
usually means moving investments out of the markets when
a manager thinks they are going to go down, and/or moving
back in when a manager thinks the markets are going to move
up. |
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| How
do you price your financial planning services? |
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For ongoing investment management we charge a retainer fee or percentage of assets fee.
Our fees
include the time involved in meeting with you
in person or over the phone, researching and analyzing your
current situation, and providing specific recommendations
and implementation assistance, if appropriate. |
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| How
much will my financial plan cost? |
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| Financial
planning fees are determined on a project basis; the total
fee for a financial plan will vary from client to client
based on the specific needs and complexity of your situation.
An estimate is provided after the free "Get Acquainted" Meeting,
when your personal needs are fully identified. |
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| What
forms of payment do you accept? |
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| Francis Financial accepts Visa, MasterCard, American Express and Discover Card. |
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| Are
your fees tax deductible? |
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| Yes. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A. It is subject to a 2% floor of the adjusted gross income on a personal tax return. |
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| Once
my financial plan is completed, will our relationship
end? |
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| Depending on your situation, the actual engagement of services may end, but the majority of our clients choose to continue their relationship with us. Because financial planning is a process, not an event, we offer ongoing services, periodic reviews and day-to-day consultation as requested and/or needed. |
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| What
is "Fee-Only" financial planning and why should that
be important to me? |
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Because
we are Fee-Only financial planners, all conflicts of interest
regarding compensation are removed. We do not accept sales
commissions; we work solely for our clients. Because we
do not sell financial products such as investments and insurance,
there are no third-party relationships or outside influences
to color our thinking and financial recommendations. For
more information on Fee-Only financial planning, including
our Code of Ethics, Fiduciary Code and member requirements,
please visit www.NAPFA.org.
In addition, our firm is a Registered Investment Advisor
(RIA); as such, we must comply with a host of regulations
designed to protect the consumer. One important question
you should always ask when considering a financial planner's
services: "May I please have a copy of your ADV Part II?"
This document contains important information about the planner's
qualifications, fiduciary duties, history of any past violations,
etc. We would be happy to send you a copy of our ADV Part
II. Please contact us to request your copy. |
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| What
types of securities do you provide advice for? |
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| We provide
advice for all types of securities, including mutual funds,
stocks (as they relate to your portfolio holdings), bonds
and bank deposits. We also provide advice on mortgages,
budgeting and cash flow issues, 401(k), 403(b) and other
retirement programs, stock options, life and disability
insurance, etc. If it has to do with money and finances,
we can provide counseling, guidance and/or resources for
you. |
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| I
understand the benefits of working with a Fee-Only
financial planner, but I might need to obtain financial
products. How will I be able to do that? |
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| While
we do not sell financial products, we will offer specific
recommendations and opinions regarding the purchase of the
various financial products that may be appropriate for you.
So, if you need to obtain an insurance policy or a new mortgage,
invest into a portfolio of mutual funds, or find an estate
planning attorney or tax professional, we can direct you
to the resources you need and/or help you obtain these products
and services. If appropriate, we can also help you implement
your plan and set up your accounts. |
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| I
have already accumulated substantial assets and think
I am doing quite well. But as I progress and build
for the future, things seem to be getting more complicated.
I want to be sure I am on track, but I don't always
have the time or inclination to manage the myriad
details by myself. Can you help me? |
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| Yes.
People who need more sophisticated financial planning or
advice will find our services appealing and beneficial.
If you have a desire to simplify your financial affairs,
our services may be right for you.
If you are looking for a professional review or a second
opinion to ensure you are on track, we can provide that,
too. |
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| I'm
in charge of the retirement plans and employee benefits
at my firm. I would like to increase the number of
employees who participate in our benefit programs.
How can you help us? |
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| Corporate
education is key in building employee participation. Our
financial planning team can help your people understand
the benefits of your programs. Please call to discuss your
specific needs. We can custom-build an educational program
for your company. |
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