WHAT DOES IT TAKE TO LIVE A LIFE I LOVE/WHAT IS FINANCIAL FILOSOPHY?
financial filosophy is an approach to achieving your dreams that allows your definition of success to drive the action plan. financial filosophy provides “Customizable Wisdom” – the combining of knowledge, skill, and experience, with a genuine understanding of you and your life, in a way that means together, we can develop a financial life plan that allows you and inspires you to live the life you deserve and dersire.
HOW DO I KNOW WHEN (OR IF) I NEED FINANCIAL FILOSOPHY?
As soon as you start to think about your money and how to use it in a way that involves your dreams. financial filosophy is the process of mapping a course of action that illuminates your pathway to success.
WHAT WILL IT COST ME TO BECOME A CLIENT OF FINANCIAL FILOSOPHY?
financial filosophy is a fee-only financial planning firm. (This means there are NO hidden charges or commissions. Your cost is clear to you, up-front, before you sign anything.)
Although we are proud of our expertise in finance and investments, our only measure of success is your success -- how well you, our client, are achieving your life goals and living a life you love.
WHAT IS FEE-ONLY FINANCIAL PLANNING AND WHY SHOULD IT MATTER TO ME?
Fee-only financial planning means we only get paid through one source – YOU.
We work solely for the benefit of you, our client. We do not sell financial products or receive commissions. By removing all conflicts of interest concerning fees and compensation, there is no question about whom we serve. You have the peace of mind that our recommendations are based solely on serving you and your best interests.
HOW ARE FEES DETERMINED
As part of your success action plan, we develop an agreement with you and set an annual fee based on a number of factors including: net worth, assets under management and the actual amount of work you ask us to do for you.We can bill you in four equal payments spread out over the year. Depending upon the nature of the issues involved, we can sometimes work on a project or hourly basis.
WHO CAN BENEFIT FROM FINANCIAL FILOSOPHY?
Individuals, families and small business owners all benefit from our services.
financial filosophy was founded for the sole mission of taking our knowledge of finance, our understanding of the myriad of investments available, and our experience with the numerous complex financial issues faced by individuals today, and using this information and knowledge to empower you to achieve your dreams and your definition of financial success.
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WHERE DO FINANCIAL FILOSOPHY'S CLIENTS LIVE
financial filosophy is based in New York City, and serves clients nationwide.
The architectural structures found on this site represent how the firm's principal lives his life, splitting time between New York, California, and his home state of Texas. financial filosophy is able to provide face-to-face service to clients in these areas, and we are happy to service clients across the nation on a remote basis. Whether through remote or face-to-face contact, financial filosophy is committed to the art and science of our clients' success.
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WHAT DO WE DO FIRST?
We start with the only important question: What do you want to achieve?
During our initial meeting, we work with you to get a clear picture of you and your goals and an understanding of where you are starting from. We understand that success for our clients is not only measured in dollars and cents; all your hopes and dreams are incorporated into our planning process.
Together we develop a plan that outlines a course of action that will lead to success. With financial filosophy as your guide, you can be sure that you are on the right track.
As our professional relationship continues, you will receive regular communications from us as well as the opportunity to meet with us on an “as needed or requested” basis. A comprehensive review and update of all financial planning issues typically happens twice per year and no less than once per year.
Your preferred status as a client of financial filosophy means you can call at any time on any issue and get immediate attention.
WHAT BENEFITS DO I GET FROM FINANCIAL FILOSOPHY?
First of all, you get the comfort and peace of mind of knowing your professional advisor at financial filosophy is keeping you on the “right track” for achieving financial success.
Your time is now yours; financial filosophy watches your investments for you.
Any questions you may have can be answered in a way that is customized to your life and your goals – we are no further away than the nearest phone or email connection.
World events and market swings may become a cause for apprehension, and during these times we are there to inform, reassure and guide you.
As your life moves forward through changes such as the birth of children, the need to save for their education, parents who may require you to step in and assist them in their later years, and planning for your own retirement dreams, a trusted financial filosophy professional is always there to help you live the life you love, desire and deserve.
Of course, you will also have your personalized financial plan, which details your financial position, the finances needed to achieve your goals and the course of action and steps to be taken.
HOW ABOUT US FIRST TIMERS -- DO YOU WORK WITH THOSE OF US NEW TO FINANCIAL PLANNING?
If you have just started thinking that financial planning might make sense for you as a way to achieve your goals, then congratulations!
Although you may not think of yourself as rich, you are definitely a candidate for our services. Everyone deserves sound financial planning – it is absolutely the way to achieve your dreams and you can start now regardless of your income level or net worth. We are here to provide objective advice and guidance. Since we believe in long lasting relationships, the current level of your assets is our focus. Rather, as your assets, family and life grow, we are committed to growing with you.
I HAVE A COMPLICATED PORTFOLIO AND SIGNIFICANT ASSETS – CAN YOU HELP ME?
Yes, we are happy to help. Financial success is about living the life you want to live. If you are looking to simplify your financial affairs, regain your personal free time, obtain a professional review, monitor your progress or manage your portfolio to achieve your goals, please contact us for an initial consultation.
Simply send me an e-mail (email@example.com) and I will respond within 24 hours. Or, if time is critical, as a preferred client, you will have my personal line to call me directly.
WHAT IS THE PROCESS OF MAPPING OUT MY FINANCIAL FILOSOPHY?
Financial planning is a process, rather than an event. It starts with determining your goals, and understanding what is important to you. Next we assess where you are in relation to achieving your goals, determine the best course of action to get there, implement these actions and monitor the progress over time. The end result allows for financial success without compromising who you are or how you want to live your life.
Using information you provide, we will develop a picture of your current status including cash flow, investments, taxes, pension, retirement plans, estate planning insurance decisions, savings opportunities and other financial matters. With this information as a background, we will design a customized financial plan to meet the goals you establish.
We understand that success for our clients is not only measured in dollars and cents; financial success is what you define it to be. Also, we recognize that there are many different ways to achieve a goal. Our objective in getting to know you is to be able to recommend actions that are aligned with your life, and that you will be excited and eager to implement. Bottom line, we are committed to designing a plan that inspires you to follow through.
WHAT DOES A FINANCIAL PLAN LOOK LIKE AND HOW DO I USE IT?
A financial plan starts with an in-depth review of your financial situation focusing on cash flow, investments, taxes, pensions, retirement plans, estate planning, insurance decisions, saving opportunities and other general financial matters.
The financial plan has five tangible benefits:
- Organizes your financial life in one easily understandable document. Everything is in one place, available for your review whenever you need to make an important decision.
- Provides a snapshot of where you are now, potential areas of concern that may need to be addressed, and resources available for achieving your short and long term goals.
- Gives a clear, concise list of action steps for implementing the recommendations, and who is responsible for each step.
- Supports decisions and recommendations. This is the actual number crunching, showing assumptions, forecasts and risk tolerances used to achieve the goals.
- Provides a benchmark over time, allowing for comparison in the future as your life progresses and changes.
DO YOU OFFER INVESTMENT MANAGEMENT?
Yes, we do. We understand that the investment process may be intimidating and time consuming for you to handle on your own. Therefore, we do provide investment management services. Under this service, we will use as our road map, your customized investment policy statement created during the financial planning process, monitor your investments on a daily basis, and initiate transactions as warranted. Generally this is done in connection with a comprehensive financial review.
Note that we do not take physical possession of your investment assets. Your money will reside with Ameritrade Institution Services, or a broker of your choice. (Your transaction fees may be lower through our relationship with Ameritrade.) We do not get paid by Ameritrade for commissions or transactions entered. Our sole compensation comes from you and is the fee agreed upon in writing when you first became a client of financial filosophy.
WHAT IS THE FINANCIAL FILOSOPHY APPROACH TO CONSTRUCTING AN INVESTMENT PORTFOLIO?
The construction of your investment portfolio is one of the cornerstones to achieving financial success. Since the role of your investment is to provide funding for your goals, we look at returns after taxes and investment expenses, focusing on the portion of the money that is actually available for your future.
We do not look at each investment in isolation, but rather in the context of the entire portfolio. When constructing your portfolio, we focus on the following points:
Needs and Constraints The purpose of your portfolio is to provide funding for short and long term goals. These goals must be achieved within the context of the following questions: What is the financial objective of your portfolio? What is your time horizon? What are your short and long term liquidity needs? What is your ability and willingness to take risk? What other issues may impact the choices of your investments, such as special tax concerns, estate issues and personal issues?
Future Although no one can predict the future or the direction of the markets with certainty, our objective is to build you a portfolio of investments that assists in achieving your goals without “chasing the market.” Some assets may be too risky for an individual investment, but in the context of a larger portfolio may provide intelligent diversification.
Your objective is a well diversified portfolio that achieves your financial goals, without exposing you to unnecessary risk. We believe the best way to achieve your objective is through asset allocation, or combining various asset classes to minimize the impact of market variations on your portfolio, minimize risk and maximize returns given your needs and constraints.
HOW ARE INVESTMENTS FOR MY PORTFOLIO SELECTED?
Before we recommend a particular investment for you, we ask how this investment will work for you. We look at your overall portfolio, your financial objectives, your willingness and ability to absorb risk, your time horizon, your income needs, your liquidity needs and the all-important tax implications.
Because our focus in not simply return on investment, but return on investment after taxes and fees
, we strive for the most appropriate investments with the lowest total expenses.
FOR WHAT TYPE OF SECURITIES AND INVESTMENTS DO PROVIDE ADVICE?
We provide advice on all types of securities including, but not limited to:
- Mutual funds
- Stocks (foreign and domestic)
- Bonds (including Municipal bonds and international bonds)
- Exchange Traded Funds
- Real Estate Investment Trusts
- Managed funds
We also provide advice and guidance concerning:
- 403 (b)
- small business retirement programs (SEP, etc)
- stock options
- life insurance
- disability insurance
- long term care insurance
We will assist with questions concerning:
- rental property as investment
- cash flow issues
- personal budget concerns
- investing on line
- college expense planning
- MSA (medical savings accounts)
HOW WILL MY PERSONAL INFORMATION BE KEPT CONFIDENTIAL?
Of course, financial filosophy absolutely keeps all client information strictly confidential. financial filosophy does not discuss client relationships nor share client information; the only people who will have access to your information are those outlined in our client contract. If an outside professional is called upon for your benefit, we will ask permission to share your information before doing so.
financial filosophy adheres to both the Certified Financial Planner Board of Standards and the CFA Institute Code of Standards and Processional Conduct. We are rigorous in our compliance with these organizations' strict standards of client confidentiality.
ONCE A PLAN IS DEVELOPED, HOW DO WE CONTINUE OUR RELATIONSHIP?
financial filosophy is committed to on-going long-term client relationships. We see the financial plan as the first step in your journey toward your goal of financial success – a journey we look forward to guiding you through and sharing with you, ready to provide advice, should questions or worries appear and as events change in your life.