FAQ
10 Questions to Ask When Choosing a Financial Planner From the Certified Financial Planner Board of Standards, Inc.
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What experience do you have?
I have worked in financial services since 2000, providing financial planning services, insurance, lending and investment advice to individuals, families, corporations, pension plans and private foundations.
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What are your qualifications?
I am a CERTIFIED FINANCIAL PLANNER™ certificant. That means I have successfully completed the education, examination, experience, and ethics requirements set forth by the Certified Financial Planner Board of Standards, Inc. I am also a NAPFA Registered Financial Advisor, which means I have met the education, practice, and experience set forth by the National Association of Personal Financial Advisors, including peer-review.
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What services do you offer?
I offer customized financial planning and advice on an hourly, as-need basis. I also offer an Annual Maintenance Program to help clients maintain their financial plan. For clients seeking ongoing access to advisory services without additional regard for billable hours, I can establish a fixed retainer. Whether you need a comprehensive long term cash flow plan or just seek an answer to a specific question, I can provide as much or as little help as you desire. Please see the solutions page for more information. I do not provide asset management services, investment products, accounting or legal advice.
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What is your approach to financial planning?
Financial planning is about your priorities, not someone else’s. It should reduce uncertainty, provide a clear plan of action, and allow you to make informed choices about personal financial matters. Planning ought to provide a welcomed balance between having comfortable goals and confidence in achieving them, so you can avoid making unnecessary sacrifices or taking unnecessary risks. At Swan Financial Planning, the financial planning process consists of seven distinct steps (see the process page for details on my unique financial planning process). It is important to remember that financial planning is a process…not an event.
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Will you be the only person working with me?
When it comes to providing financial planning services at Swan Financial Planning, I will be the only one working with you; however, you will likely work with other professionals, who will also assist you in carrying out your plan. These other professionals may include attorneys, tax preparers, insurance agents, investment brokers, portfolio managers, lenders, employee benefits administrators, or others. It is important to understand that these other professionals operate completely independent of Swan Financial Planning and will charge their own fees for their services.
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How will I pay for your services?
Services are offered on a fee-only basis. Fee-only means that you pay a fee for the services provided and no commissions or third-party compensation is ever accepted.
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How much do you typically charge?
The current hourly rate is $180 and is billed in 6-minute increments. There is no minimum. The total fee for a financial plan varies depending on the specific needs and complexity of your situation. After your initial, complementary, no-obligation meeting, you are given a fee estimate based on the estimated number of hours required. You are only actually charged for the hours worked, but the total fee will never exceed the estimate. Most financial planning projects fall in the $1,350 to $2,250 range. Annual check ups tend to cost between $450 and $900.
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Could anyone besides me benefit from your recommendations?
Recommendations are made solely for your benefit; however, your other professional advisors may stand to benefit if you purchase products or services from them. To avoid any conflict of interest, I do not accept any compensation nor do I maintain any compensation or referral arrangements with any financial service providers or other professionals. If a potential conflict of interest exists due to my relationship with another client, I will disclose the nature of the conflict of interest to you in writing.
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Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?
No. Nor have I been privately disciplined. Furthermore, I have never been involved in any unlawful or unethical actions in my career. To check the discipline history of any financial planner or advisor, visit:
Certified Financial Planner Board of Standards, Inc.
www.cfp.net, 888-237-6275
North American Securities Administrators Association
www.nasaa.org, 202-737-0900
National Association of Insurance Commissioners
www.naic.org, 816-842-3600
Financial Industry Regulatory Authority
www.finra.org, 800-289-9999
Securities and Exchange Commission
www.sec.gov, 202-942-7040
Can I have it in writing?
Absolutely! Feel free to print this page. Also, much of this information is contained in Swan Financial Planning’s Investment Adviser disclosure document also known as Form ADV part II. This document contains important information about fees, qualifications, ways of doing business, philosophies, potential conflicts of interest, etc. Click here to view.
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What makes Swan Financial Planning’s services different from other financial services?
- Fee-Only: I only work for you, not a brokerage house, a bank, or an insurance company. I do not accept any kind of referral incentives from other professionals. My advice is not subject to limitations imposed by sales agreements with third-parties. 100% of my compensation comes directly from the clients I serve. You will not compete with a third-party for my advice.
- CERTIFIED FINANCIAL PLANNER™ professional: The term “financial planner” is not regulated and anyone may call himself or herself a financial planner. However, CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals are regulated, and must agree to abide by written standards of practice and a code of ethics set forth and enforced by The Certified Financial Planner Board of Standards, Inc.
- Registered Investment Adviser: As a Registered Investment Adviser, Swan Financial Planning must comply with a host of regulations designed to protect the consumer including a fiduciary duty to always act in the client’s best interest.
- No minimum requirements: Swan Financial Planning has no minimum income, portfolio or net worth requirements to become a client. There is not even a minimum billable time requirement. You don’t have to already be rich to get advice.
What is your investment philosophy?
Rather than trying to beat the markets, which very few people actually do, I focus on helping you get your fair share of market returns. Trying to match market performance, minimize investing costs, and controlling risk through asset allocation is the best way to reduce uncertainty and achieve long-term investment results. Therefore, I recommend passively managed, low-cost, index strategies that are well diversified. Asset allocation and investment recommendations are based on your financial planning objectives, not on recent market activity or economic outlook.
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What if I need to purchase financial products?
While I do not sell financial products, I will offer specific recommendations and opinions regarding the purchase of the various financial products that may be appropriate for you. So, if you need to obtain an insurance policy or a new mortgage, invest into a portfolio of mutual funds, or find an estate planning attorney or tax professional, I can direct you to the resources you need and/or help you obtain these products and services. If appropriate, I can also help you implement your plan and set up your accounts.
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Can I just spend an hour or two with you to talk about one or two specific things?
Yes. Although a more comprehensive approach to financial planning provides the greatest benefits, you can limit advisory services to your specific needs, such as cash management and budgeting, planning a major purchase, choosing investments, or paying for college without going broke.
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Who can benefit most from your services?
Any individual seeking financial peace of mind can benefit from my services, but the clients that usually benefit the most have the following characteristics:
- Want to take an active roll in planning for their financial future.
- Willing to accept and plan around the long-term returns investment markets offer, acknowledging there is really no way to consistently beat the market by design, and understanding that it would not be prudent to plan on beating the markets.
- A bit of a do-it-yourselfer, able (or willing to learn how) to manage their own investment accounts and self-implement much of their plan with guidance or instruction when necessary.
- Understand that financial planning is a process; know the only guarantee is that things will change, and want to be better prepared for change through planning.
How can I get started?
The first step is an initial inquiry from you. Call (609) 945-1977 or click here to schedule a no-cost, no-obligation Get Acquainted meeting. Next, download a copy of my Confidential Questionnaire, complete it to the best of your ability, and bring it with you to the Get Acquainted meeting. Should you decide to work with Swan Financial Planning, we can discuss which services are appropriate for you. Please see the process page for more details on getting started with a financial plan.
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What can I expect from the Get Acquainted meeting?
The primary purpose of the Get Acquainted meeting is to get to know and ask questions of each other. This is an opportunity for you to learn more about Swan Financial Planning, and for me to assess your needs and estimate the amount of time necessary to complete the work. By the end of the meeting, I will provide you a fee estimate. Anything we discuss is private and confidential, and I will give you copies of my Privacy Statement and Form ADV Part II at the start of the meeting.
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Where is your office?
Swan Financial Planning is located in the New Jersey Jaycees Building at 33 Lake Drive in Twin Rivers area of East Windsor Township in central New Jersey, about one mile from NJ Turnpike interchange 8 and about a 30-minute drive from Princeton, Trenton, New Brunswick, and Freehold. Please see my Contact page for an interactive map.
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