Frequently Asked Questions

What is financial planning?

Financial planning is a continuous process that helps you take control of your financial future.  The process includes gathering financial information, setting life goals, examining your current financial status, creating, and then implementing a road map.  The financial road map assists in achieving your long term goals through investments, tax planning, asset allocation, risk management, retirement planning, and estate planning.  Once the plan is implemented, periodic review is recommended to ensure you are headed in the right direction.

Why do I need a financial advisor?

You can enhance your quality of life.  Everyone receives 168 hours in a week and everyone decides how to spend their 168 hours.  Do you want to spend more time with your kids, more time at the gym, more time at church?  Maybe you just don't have enough time or expertise to get your finances in order.  By delegating your finances to an advisor you are freeing up your time for what is more important to you.  You will be happier, more satisfied, and fulfilled by aligning your behavior with your core values.

What is a fee-only financial planner?

A Fee-only Financial Planner is a planner who, in all circumstances, is compensated solely by the client, with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.  Fee-only planners do not receive commissions, rebate awards, finders fees, bonuses or any form of compensation from others as a result of a client's implementation of the individual planner's recommendations.

Why develop a financial plan?

A plan provides you with direction and meaning to your financial decisions.  It teaches you to understand how each financial decision you make affects other areas of your finances.  What are your long term and short term goals?   Maybe you want to buy a new home, send your children to college, or plan for retirement.  A financial plan secures your financial future and helps you achieve your goals.

Can I afford a financial plan?

Hiring a financial advisor to help you create a plan will probably be the best investment you ever make.  A financial advisor will help you create a budget and ensure that you are not paying too much in insurance premiums, income taxes, or investment expenses.  Fees you pay for investment advice and tax planning are tax deductible.  Our Fee Estimation will give you an idea of what expenses to expect.   

Can you help us even if we do not meet your "ideal client profile"?

Our ideal client profile is a description that we use to identify people that benefit the greatest from our services.  However, not all of our clients meet that profile and the ones that don't still benefit from our services.  If you have questions as to whether it would be beneficial for you to be a Wisdom client, please complete this form and we will contact you.