Here are some of the most common questions I get asked:
What is a fee-only advisor?
Fee-Only advisors (or planners) are Financial Advisors that have a fiduciary responsibility to act in your best interest. In other words, we work for you.
What is a fiduciary?
A fiduciary is someone who is bound ethically to act in their client’s best interest. They are not compensated on selling a particular product and that reduces the possibilities of conflicts of interest.
I’m a business owner and I have an accountant, do I really need a financial planner?
It depends. If your accountant only deals with things that have happened in the past, then the answer could be yes. My idea of financial and business planning for business owners is two-fold. First, I can obviously help you with your personal finances, but more importantly because of my business and finance background, I can take a look at how you are managing your money in your business — income, expenses, cash flow, etc. — to see if there are missed opportunities to increase your income and profit margins, reduce your taxes and expenses, and plan proactively to keep more of what you make. If this sounds like something you would like to explore, let’s talk. Click here to schedule a complimentary consultation.
When you say you charge by the hour what does that mean — is the clock always running?
Generally no. Once we understand exactly what you are looking for we can give you a firm quote that will include meetings and our work time in the package. However, if you decide you just want to work with us by the hour, yes the clock will be running in 5 minute increments.
Am I going to be depressed about my finances if I give you all of my information?
I don’t know but what I do know is that a lot of people come to see me because they have a nagging feeling that something is not quite right with their finances and they are stressed out. Once they have a clear picture and a plan to fix any issues — they seem to feel better.
What about fees? How much does it cost to work with you?
PS Worth LLC is a fee-only fiduciary. I’m only paid by you. I don’t make money from product commissions. Also, unlike many financial advisors, I don’t charge a percentage of assets (the “Assets Under Management” fee model). Instead, I charge a flat fee based on the complexity and scope of your financial situation and requested services. And, for business services the same applies unless a specific fee is listed. Once I have an understanding of the type of service you want and the scope and complexity of work, I will be able to quickly provide you with a fee quote.
To learn more, the first step is to schedule a no-obligation introductory meeting.