Question 1

Do you have a customer satisfaction or refund policy?

Accepted Answer

No.  All our planning and analysis work is done on a fee-only basis.  A client or potential client cannot buy anything other than my time and expertise.  This reduces, if not eliminates, the potential for conflict of interest in assessing a clients financial situation.

Question 2

Why should I choose you as my financial advisor?

Accepted Answer

I have been advising clients since 1996.  I hold four specialized retirement credentials and actively pursue over 70 hours of continuing education each year on a variety of financial planning topics including: Retirement Accumulation Planning; Retirement Income Distribution Planning; Estate Planning; Income Tax Planning; and College Planning.

Question 3

What are your qualifications? What is your education background?

Accepted Answer

While the numbers are important, YOU -the client- are most important.  A personalized financial plan is useless until it is implemented.  If we don't understand you, and you don't understanding the ?what? and the ?why? you won't take action.  The majority of our clients want us to create the plan and help them implement the steps.

Question 4

How are you compensated? How will I pay for your services?

Accepted Answer

I am fully licensed so I can be paid via flat or hourly fees, asset management fees, and/or commissions. While my commissions are mainly limited to insurance products, there are cases where investments may be purchased less expensively through commission. Fees are disclosed. Your additional questions on fees, services, etc. are welcomed.

Question 5

If you are going to manage my account, will you obtain my permission every time you buy or sell something?

Accepted Answer

This is your choice.  Nearly all of our clients are busy as retirees or busy as working people.  They have hired us specifically to take care of the details and send regular statements regarding rebalancing, trades, etc.  We do not need discretion for you to become a client.  We will discuss this and other expectations prior to opening an account to make sure it is appropriate for your situation.

Question 6

How many clients do you currently manage?

Accepted Answer

I manage nearly 200 households. My practice grows by 15 to 20 households each year. My goal is to serve 250 households by 2020. At that time I will expand my office by adding additional advisors and support staff.

Question 7

Will you be the only person working with me?

Accepted Answer

Yes.  I will be your primary contact.  However, your situation may call for legal or tax expertise that I am not able to provide.  Over the past 25 years I've created an extensive network of trusted professionals that can add expertise, or fill a void that a you may have related to your financial plan.

Question 8

Do you offer any guaranteed results?

Accepted Answer

No.  Absolutely not!  I will never make personal guarantees related to investment performance as it is both illegal and unethical.  In certain circumstances guarantees related to an insurance product or a bank CD can be made by the particular firm offering the product.  However, additional fees may apply to those guarantees.

Question 9

How much risk should I be willing to take?

Accepted Answer

This is the $64,000 question.  This is also why each client is expected to complete a financial plan for a fee.  This dramatically limits any biases or specific investment recommendations so that a reasonably accurate assessment can be made of your willingness to accept risk and your financial ability to accept market and interest rate risks.

Question 10

Have you ever been charged with any breaches?

Accepted Answer

No.  Never.

Question 11

What services do you provide?  What are your specialties?

Accepted Answer

My firm offers independent financial planning and investment management.  We specialize in managing both phases of your retirement planning:  Accumulation (Saving) and Distribution/De-Accumulation (Spending).  This includes portfolio management, insurance coverage, and tax planning.  Our clients don't want to live with their children, nor ask them for money.  They too want to be independent for their entire lifetime.

Question 12

What carrier(s) do you represent?

Accepted Answer

I am independent.  Currently I represent over 50 highly rated companies with access to many, many more.

Question 13

Are there any pre-existing conditions that you can not cover?

Accepted Answer

Terminal illnesses.  Advanced illnesses related to cancer, diabetes, Alzheimers, etc.  We can always apply.  The worst a carrier will tell us in "no."  If they accept, it may come at an economic cost.  Asking costs nothing.

Question 14

How long does it take to complete the application and approval process?

Accepted Answer

10 to 45 days depending on your health and your ability to complete the application and medical exam in a timely manner.

Question 15

Is there a maximum age that you can insure?

Accepted Answer

Many insurers use a standard age of 85.  Some carriers may go higher.  However, those insurance companies may not have the best track record for paying claims completely and promptly.  This is a risk we will have to assess to see if it is appropriate.

Craig Adamson