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Business Description |
I will be a trusted partner with my clients, helping them build and implement personal financial plans that meet all of their concerns. The plans and implementation will serve as foundations for their work toward or maintenance of financial independence.
I will maintain contact, to assure that their plans adapt to changes in their lives.
I will maintain strict confidentiality.
Most of all, I will listen to my clients and choose only the most appropriate recommendations for them. |
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General Information |
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| Name of Broker/Dealer: |
Fortune Financial Services, Inc.
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| States Licensed in: |
FL, MS, TN
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| Years of Experience in Financial Services: |
24
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| Number of Years with Current Firm: |
1
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| I work with the following types of clients: |
Businesses, Non-Profit Organizations, Individual Investors
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Education |
| Academic Background |
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PhD, Chemistry
MBA, Management and Finance |
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Services |
| Investment Types: |
Mutual Funds, Bonds, Stocks, Exchange Traded Funds (ETFs), Alternative Investments, Insurance, Annuities, Socially Responsible Investments (SRI)
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Qualifications & Memberships |
| Certifications, Accreditations & Designations: |
Certified in Long-Term Care (CLTC), Certified College Planning Specialist(CCPS)
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| Securities Licenses: |
Series 7, Series 65
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| Insurance and Annuity Licenses: |
Disability, Variable Life, Long Term Care, Variable Annuity, Life, Health, Annuity
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| Financial Organization Memberships: |
National Association of Insurance and Financial Advisors (NAIFA)
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| Non-Financial Organization Memberships: |
Siesta Key, FL Chamber of Commerce
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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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Compliance |
| Registered Representative: |
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: |
$50,000
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| Compensation Methods: |
Hourly, Flat Fee, Based on Assets, Commissions
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| Fee % Based on Assets: |
0.5% to 1.
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| Additional Details on Charges: |
The hourly fee will vary depending on the complexity of the case. The annual fee as a % of assets will be more for smaller accounts.
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| Minimum Fee Charged for Managed Accounts: |
$1000
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| Minimum Fee Charged for Hourly Planning Accounts: |
$100
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| Minimum Fee Charged for Flat Fee Accounts: |
$600
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| Prepared By: |
Hayden Lipp |
Frequently Asked Questions |
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| Q. |
Do you have a customer satisfaction or refund policy? |
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Yes. The initial consultation is always free. |
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| Q. |
What are your qualifications? What is your education background? |
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I have an MBA, and have over 15 years of experience. |
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| Q. |
What is your approach to financial planning? |
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I primarily work with clients on a fee-basis. |
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| Q. |
What services do you offer? |
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I offer full financial plans and analyses of specific issues such as asset allocation and retirement planning. |
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| Q. |
How many clients do you currently manage? |
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Will you be the only person working with me? |
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| Q. |
How are you compensated? How will I pay for your services? |
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About 80% of my clients pay only a fee for advice. The other 20% are a combination of fee and commission. |
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| Q. |
If you are going to manage my account, will you obtain my permission every time you buy or sell something? |
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I provide only advice. You take the actions. |
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| Q. |
Do you offer any guaranteed results? |
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There are no guarantees in investments. Don't let anyone tell you otherwise. |
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| Q. |
How much risk should I be willing to take? |
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Everyone is different, and your indiviual risk tolerance should be evaluated. |
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| Q. |
Have you ever been charged with any breaches? |
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What services do you provide? What are your specialties? |
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I provide full written financial plans when appropriate, and specific |
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| Q. |
What is your experience? How many clients do you currently manage? |
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I have 15 years experience, and currently manage 30 clients. I also provide "starter plans" for folks new to saving and investing. |
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What financial institution(s) do you represent? |
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I am independent. For those who need investments, insurance, tax or legal advice, I use a network of providers. |
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| Q. |
How do you charge for your services? |
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I normall use a published fee schedule, with individual fees based on complexity. |
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| Q. |
Do you provide a free initial consultation? |
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| Q. |
Why should I choose you as my financial advisor? |
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Everything I do for my clients is "independent". I never feel obligated to recommend the "product of the day". Everyone gets advice tailored to them. |
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| Q. |
What are your qualifications? |
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I have 15 years of experience and an MBA. It also helps that I planned my own roll-over and retirement from another business. |
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| Q. |
What is your approach to 401 K plan rollovers? |
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Every one is unique. I concentrate on low cost and high quality funds and third parties. |
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How long does the process of rolling over a 401K plan usually take? |
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It can be done within a week or may take a month or more. It depends on how cooperative the current custodial is. |
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What financial institutions do you represent? |
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I am independent. I work with brokers or suppliers that the client chooses. |
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| Q. |
How many years of experience do you have? |
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| Q. |
What are your fees for this service? |
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The fees vary by complexity of the situation, but are always disclosed in advance. |
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| Q. |
How many 401K rollover clients do you currently manage? |
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| Q. |
Why should I roll over my 401K plan to your firm? |
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Being independent, I will work to find the lowest-cost, highest quality custodian. you are never restricted to one provider. |
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Do you provide a free initial consultation? |
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