You may be reading this blog because you heard us on the radio, or maybe you are a client, or maybe you know Steve or Adam personally. However, if you are not a client, you may be interested in learning what a financial advisor does.
First, let me tell you that we are not lawyers, and we are not CPAs. We don't draft contracts, and we don't prepare income taxes. We like to call ourselves the quarterbacks or the project managers for our client’s financial lives. We are look at the big picture including planning for retirement, taxes, insurance, estate issues, and investments.
The revenue for our firm is derived from managing investments. We don't make money from the radio show, and we don't make money selling any products. Our business partner, Schwab, has custody of most of our clients’ money. Clients can log onto the Schwab website at any time and view their accounts, and they get monthly statements from Schwab that detail performance and transactions within the account. We bill our clients’ accounts on a quarterly basis, and the billing is done on a sliding scale based on the total amount of the investments. The more money we manage, the lower the percentage charged on the account. Our fees are not the lowest you will find, nor are they the highest. We are competitive within the industry. For example, on any accounts over $1 million, we charge 1%, which breaks down to 0.25% per quarter.
In order to become a client, the first step is to schedule an initial meeting either by calling the office at 904.685.1505, or by using our easy online scheduling tool available on our website or on our Facebook page. There is never a charge for this meeting, it is simply a way for us to determine if there is mutual interest in doing business together. Once that is scheduled, we will send you our confidential worksheet, which you then fill out and bring with you to the meeting. It lists your contact information, your investment information, your insurance coverage, and other pertinent details. There is no obligation that comes from this meeting, and if we are not a fit for you, we will still give you the best advice we can. We hope that you are able to leave our initial meeting with more knowledge than you came in with!
If you do decide to become a client, great! The next step is to schedule a two hour goal setting meeting. This is a deep dive into your personal financial life, and in this meeting we get all the information required to set up your personal financial plan. We also handle a lot of the paperwork, which will transfer your accounts to Schwab and put them under our management. Once your plan is set, we will devise an investment plan for you, and a third meeting takes place to go over that strategy, educate you on how the strategy works, and get your feedback on any changes you would like to see.
After the investment strategy is executed, we suggest meeting with us on a quarterly basis to monitor progress and determine what (if any) changes need to be made. There is never any additional fees to call us or utilize our services in any way. Once you are a client you have full access to us both whenever you need us. We try to take the fear out of dealing with investing and make your experience comfortable, easy, and rewarding.