| Advisor Profile |
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| Name: |
Amy Rose Herrick |
| Phone Number: |
(785) 783-0203 |
| Website: |
Visit Website
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| Disclaimer |
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Business Description |
| When you are my client, the highly personal comprehensive services provided guide you through life’s challenges and opportunities with an Independent Advisor you trust to put your interest first. I don't have a hidden product agenda or sales quota that must be met at your expense. I believe financial success is achieved when you reach goals and touch your dreams. I believe financial independence is enjoyed when resources meet or exceed needs. I provide peace of mind with step by step suggestions through various life stages from being new in the workforce, becoming a self employed professional, paying for weddings and college expenses, traveling on the trip of a lifetime, maximizing an inheritance or unexpected financial windfall, retirement income stream planning or leaving a family legacy to those you love. |
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General Information |
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| Name of Broker/Dealer: |
Woodbury Financial Services (Independents only)
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| States Licensed in: |
KS, MO, CO, SD, IN, VA, TX, AZ, WA
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| States Willing to do Business in: |
KS, MO, CO, SD, IN, VA, TX, AZ, WA
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| Years of Experience in Financial Services: |
23
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| Number of Years with Current Firm: |
17
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| Work Experience: |
You pay financial advisors for their expertise, experience, education and certifications to provide you with high quality advice. I am a CHartered FinanciAl COnsultant (ChFC), Investment Advisor Representative and licensed Agent. My profile discloses all of these areas to you instantly in a non-biased, independent third party format to document my commitment to knowledge and financial excellence for YOUR benefit. My clients have found that this depth of knowledge they have not experienced before is of great value in their overall planning process. I have contributed a wide variety of articles across several different magazine and internet publications. I was also an invited contributor to the book entitled "STOP AND THINK: Best Advice from 10 Outstanding Financial Professionals for YOU and YOUR FAMILY.
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| I work with the following types of clients: |
Non-Profit Organizations, Individual Investors, Businesses
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| Foreign Languages Serviced: |
English only
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Education |
| Academic Background |
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| American College, Bryn Mawr, PA |
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Services |
| Investment Types: |
Mutual Funds, Mortgages & Real Estate, Insurance, Annuities
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Qualifications & Memberships |
| Certifications, Accreditations & Designations: |
Investment Advisor Representative, Chartered Financial Consultant (ChFC)
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| Securities Licenses: |
Series 6, Series 63
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| Insurance and Annuity Licenses: |
Critical Illness, Variable Annuity, Long Term Care, Variable Life, Disability, Annuity, Health, Life
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| Financial Organization Memberships: |
Paladin Registry
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| Non-Financial Organization Memberships: |
Topeka Independent Business Alliance (TIBA)
Kansas Public Health Association, Inc.
Kansas Health Consumer Coalition
Light of the World Christian Center
Citizen Potawatomi Nation
Topeka Chamber of Commerce
Association of Women Entrepreneurs
Women?s Entrepreneur Association
Topeka YMCA
Sports Car Club of America
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Firm Information |
| Number of Advisors in Office: |
Up to 10 employees
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| I work with clients as part of a team: |
Yes
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| Firm's Number of Clients: |
decline
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| Firm's Number of Planning Clients: |
decline
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| Firm's Number of Managed Clients: |
decline
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| Assets Managed by Firm: |
20M+
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| Advisor's Number of Clients: |
decline
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| Advisor's Number of Managed Clients: |
decline
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| Advisor's Number of Planning Clients: |
All
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| Assets Managed by Advisor: |
20M+
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Compliance |
| Registered Representative: |
Yes
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| Investment Advisor Representative: |
Yes
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| I am an acknowledged fiduciary: |
Yes
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| Compliance Disclosures in Last 5 years: |
I have a clean record
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| Criminal Disclosures in Last 5 years: |
I have a clean record
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Compensation & Fees |
| I am a fee-based financial professional: |
Yes
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| Minimum Portfolio Size for New Managed Accounts: |
$250,000
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| Compensation Methods: |
Commissions, Hourly, Flat Fee, Based on Assets
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| Fee % Based on Assets: |
varies
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| Additional Details on Charges: |
Charges vary based on complexity of the project and by the value of assets under management. Compensation method is determined at the conclusion of the analysis process when the client has elected to implment any suggested changes. Clients may have the option of fee, commission or combination based compensation depending on the scope of the planning performed or structure of current investments brought into the asset management program. For a common example, if a client already has paid the fees on "A" share mutual funds, who are suitable and workable long term that pay trails to the Rep of record, it would make no sense to change that in place fee structure before our relationship began and simply updating the Rep of record moves the compensation trail for servicing in these cases on these assets.
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| Minimum Fee Charged for Managed Accounts: |
varies
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| Minimum Fee Charged for Hourly Planning Accounts: |
varies
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| Minimum Fee Charged for Flat Fee Accounts: |
varies
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| Prepared By: |
Amy Rose Herrick |
| Most Recent Update: |
06/24/2008 |
Frequently Asked Questions |
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Do you have a customer satisfaction or refund policy? |
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Yes. If you are not completely satistifed with the results of my Comprehensive Economic Analysis, and you will not be implementing any of the recommendations contained therein, there will be no charge for those services rendered upon return of all materials.
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What are your qualifications? What is your education background? |
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I am a Chartered Financial Consultant (ChFC), Investment Advisor Representative (IAR), Registered Representative for securities and a Licensed Agent for Life, Health, Disability, Long term Care and group insurance products. I hold a Series 6 & 63 license.
I am licensed to practice in some form in Kansas, Missouri, Colorado, Texas, Arizona, New Mexico and Washington. |
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What is your approach to financial planning? |
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Comprehensive Planning is a process of:
1) Gathering and documentation of information on any item that impacts your income stream, cash flow, your income tax return or estate.
2) Develop written recommendations and Implemenatation Schedule for presentation and discussion with client.
3) Implementation of changes.
4) Regular performance and overall financial reviews to keep planning current. |
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What services do you offer? |
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Company benefit utilization, Income tax planning and preparation, budgeting, debt (re)structuring, cash flow analysis, insurance analysis, investment analysis, portfolio management, estate structuring, small business employee benefits, divorce asset settlement proposals, capital gains tax reduction, Income Tax Recovery Programs, retirement income stream planning, author, public speaker & more. |
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How many clients do you currently manage? |
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Will you be the only person working with me? |
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How are you compensated? How will I pay for your services? |
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Hourly fees for Comprehensive Economic, divorce settlements and tax related services.
Third party compensation for any insurance or investment products, upon approval. |
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If you are going to manage my account, will you obtain my permission every time you buy or sell something? |
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Do you offer any guaranteed results? |
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Yes. If you do absolutely nothing, absolutely nothing will change! |
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How much risk should I be willing to take? |
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That is an excellent question! Do YOU know the correct answer?
I utilize several different risk analysis type planning tools to determine what an appropiate amount of risk for you would be based on your age, investment experience, family needs, debts, estate structure, and your own personal risk level. Risk factors need applied to each piece of a portfolio, and to the portfolio as a whole. |
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Have you ever been charged with any breaches? |
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Never in 23 years of practice. |
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What carrier(s) do you represent? |
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I am an Independent Agent and I write with a variety of insurance carriers shopping the market for the best product and best pricing for my cleint. I am not captive to any compnay nor do I "sell" from a required product/selling list from some home office. |
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Are there any pre-existing conditions that you can not cover? |
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Every situation is unique. Until we have completed a discovery and underwriting process with multiple carriers, it is unknown if a person is truly "uninsurable". Often, when the cost is prohibitive or is thought to be unaffordable in severe situations one my think they are uninsurable, but "unaffordable" is not the same as "uninsurable". |
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How long does it take to complete the application and approval process? |
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That will depend largely on the volume of medical records required for underwriting and the time it takes for physicians offices or hospitals to forward requested data. Typical turnaround times would be three weeks to three months depending on the above to policy approval and the offer of coverage. |
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Is there a maximum age that you can insure? |
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It will depend on the insurance product line desired and age restrictions will vary by carrier. |
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What services do you provide? What are your specialties? |
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Enhanced company benefit utilization, Income tax planning and preparation, budgeting, debt (re)structuring, cash flow analysis, major purchase planning, insurnace analysis, investment analysis, portfolio management, estate structuring, small business employee benefits, divorce asset settlement proposals, capital gains tax reduction, Income Tax Recovery Programs, & more. |
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What is your experience? How many clients do you currently manage? |
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I am a Chartered Financial Consultant (ChFC), Investment Advisor Representative (IAR), Registered Representative for securities and a Licensed Agent for Life, Health, Disability, Long term Care and group insurance products. I hold a Series 6 & 63 license.
I am licensed to practice in some form in Kansas, Missouri, Colorado, Texas, Arizona, New Mexico and Washington. Over 100, 20+ years. |
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What financial institution(s) do you represent? |
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I am an Independent. I utilize a wide range of carriers and product providers based on the identified needs of the client. |
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How do you charge for your services? |
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Hourly fees for Comprehensive Economic, divorce settlements and tax related services.
Third party compensation for any insurance or investment products, upon approval. |
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Do you provide a free initial consultation? |
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Yes, please contact me for details. |
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Why should I choose you as my financial advisor? |
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I provide unique Comprehensive services that are not limited to one or two subjects or product lines to meet the needs of a divese client base. I can assit you through many changes and phases of a lifetime, not just during a single phase. |
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What are your qualifications and experience? |
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I have reviewed, compiled and completed tax estimates for over 15 years for my client base that included tax reduction stratedgies and capital gains reduction planning. As a response to numerous requests to add this to my services, I completed tax preparation schooling in 2005 and began offering individual tax preparation services in 2006. |
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Will you come to my location? |
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In the majority of cases, the answeris no. I have all my vast resources and materials in my office and cannot take them with me easily. I find it is most effective for both of us to hold a meeting here to be able to access items instantly if needed. After you are an established client, often using email and phone conferencing minimizes travel and allows us to "meet" briefly as often as needed. |
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What are your rates? |
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I have a $100 per client materials fee, plus for Simple Economic Consulting $105 an hour or for Complex Economic Consulting $195 an hour. For Tax Preparation $75 an hour, not per form. For items strictly related to only Insurance or Investments, there is no hourly charge. |
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Why should I choose you for my tax needs? |
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I do not simply put numbers on a couple of pages once a year. I explore your overall situation to determine if there are any tax stratedgies you are not utilizing effectively that would benefit you and explain them to you. I also have a "Tax Recovery Program" that uses highly trained tax preparation specialists to review your last three years returns for missed refunds, tax credits and deductions |
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What are your management fees? |
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This depends on the carrier and the desires of the plan adminsitrator. |
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What kind of plans do you specialize in? |
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Do you have a minimum requirement for number of employees or total investment value? |
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Over $1M takeover assets preferred but all sizes of plans can be reviewed for potential improvements. For example, could improvements be made to any or all oareas by restructuring the plan. |
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What type of plans do you offer? |
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Mutual fund and annuity platforms. |
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Do you offer any additional services? |
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Comprehensive Financial Services for the employer and the employees. Rollover services to new and/or exiting employees. Educational services and events. |
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What are your qualifications? |
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Chartered Finanacial Consultant (ChFC) and Investment Advisor Representative (IAR). |
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What is your approach to Education Planning? |
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Every family is unique. You must balance the resources with the opportunities to develop a strategy that benefits the family and accomplishes their wishes. |
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How long does the process of setting up an Education Plan usually take? |
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Varies with the complexity and needs of the family. |
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What financial institutions do you represent? |
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I am an Independent. I work with a variety of carriers. |
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How many years of experience do you have? |
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23- 5 years at an institutional level and 18 years with individuals and small businesses. |
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What are your fees for this service? |
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Fees vary by the complexity of the services provided. My first consultation is free of charge to determine if my services and if the clients needs are compatable. If not, I will refer them to another colleague for assistance. |
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How many Education Planning clients do you currently manage? |
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Why should I work with you on setting up an Education Plan? |
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Because I am an Independent Advisor, I have no sales or product quota to meet at your expense. I have over 23 years of experience and I put your interests first. |
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Do you provide a free initial consultation? |
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What are your qualifications? |
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Chartered Financial Consultant (ChFC) & Investment Advisor Representative (IAR), series 6 & 63.
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What is your approach to 401 K plan rollovers? |
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If it is not broken...do not fix it! Whenever a rollover is considered the main objective for a rollover to be considered should be to improve the clients overall position after a rollover has occurred including but not limited to an increase in investment opportunities, changes in beneficiary structures, lower fees, improve ease of use and access, etc. |
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How long does the process of rolling over a 401K plan usually take? |
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This will depend a lot on the location of the rollover and the administration there. Some companies will promptly release and forward funds to a new trustee with a minimum of paperwork, others have specific protocol that must be followed before releasing and forwarding the funds to a new trustee. |
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What financial institutions do you represent? |
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I am an Independent, I have no specific financial institution ties. |
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How many years of experience do you have? |
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23- 5 with institutional investors and 18 with individuals and small businesses. |
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What are your fees for this service? |
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Varies from $0 to a % of assets based on the client preference and investment vehicles used. |
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How many 401K rollover clients do you currently manage? |
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Unknown- I do not keep track of this area. |
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Why should I roll over my 401K plan to your firm? |
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You pay Advisors for expertise, experience, education and certifications to provide quality advice. I attend advanced seminars on financial and tax related topics across the nation for the benefit clients. I have contributed a wide variety of articles across several different magazine and internet publications. Why SHOULDN'T you work with an Advisor with my years of experience and credentials? |
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Do you provide a free initial consultation? |
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