Why a Financial Plan?
Without a plan, you are most likely winging your financial future and will end up with a hodgepodge of financial products and retirement accounts.
A financial plan analyzes your current financial situation, and course of action to meet future needs, wants, and wishes.
It would be best if you approached finances strategically. Every asset and dollar must have a purpose and work towards your goals.
A financial plan puts everything together clearly and concisely to ensure financial success.
Benefits of a Financial Planner
You benefit from my 17 years of financial planning knowledge and experience.
We look at all your finances to include things you may have overlooked.
We ensure you avoid common mistakes, costly financial products, and emotional decisions.
We educate you. We empower you. We plan for 10 to 30 years in the future, not just for today.
And better sleep at night knowing you are addressing all your financial needs.
Clients can pay a flat fee based on the scope of services for financial planning. The flat fee starts at $2,000.
Investment Management clients pay a percentage of assets under management (AUM). Comprehensive financial planning services are included in the AUM fee.
AUM fee starts at 1% and decreases based on total assets under management.
Step 1. Get to Know You Appointment and Establish the Relationship
Step 2. Financial Planning Discovery Process with Access to Online Financial Planning Sofware
Step 3. Discuss Recommendations, Execution, and Plan Delivery
Step 4. On-going Planning, Review, and Accountability Meetings
We aim to ensure all the i’s are dotted, and t’s are crossed regarding your financial affairs.
Investment strategies tailored to your goals, risk tolerance, and time horizon.
Continuous review of your investment portfolio, rebalancing, tax harvesting, and tax minimization.
Our focus is not on timing the market but crafting a long-term strategy to minimize risk and maximize your returns.
Our investment strategies are based on academic research and evidence-based.
Frequently Asked Questions
What’s the difference between financial planning and Investment Management?
What is fiduciary responsibility and why is it important?
A financial professional who has a fiduciary responsibility to you must put your needs and interests ahead of their own. While stockbrokers and insurance agents are regulated and licensed, they do not have a fiduciary responsibility to you. The recommendations that stockbrokers and insurance agents make must only meet a “suitability standard.” In other words, suitable investments only have to be “good enough” to suit their needs and not necessarily the best possible investment an advisor could find.
What should I expect in the financial planning process?
Our process begins with a “get acquainted” meeting. We want to know about your personal goals, your values and concerns, your dreams, and your past financial experiences.
The financial planning process will help discover where you are now, and where you want to go. We’ll work with you to establish and prioritize your objectives. We’ll look at the problems and opportunities facing you, examine alternatives, and make recommendations and create specific action steps.
After coming up with a plan that suits your needs, we’ll assist with implementing the recommendations.
Over the years, we will regularly meet with you to review and update your plan, assess your progress, and consider other actions that may be helpful as your needs evolve.
What is your investment philosophy?
Our philosophy is to apply academic and evidence-based investing (asset allocation, diversification, rebalancing, tax harvesting) to your investment assets in a way to meet your goals, risks, and unique life situation.
How do I get started working with Charleston Wealth Advisors?
As a prospective client, you are encouraged to schedule a complimentary exploratory consultation. We discuss your financial situation and our firm’s ability to help you.
Who has custody of my money when I hire you to manage it?
Charleston Wealth Advisors never has custody — physical possession or access to your money.
Client assets are held at Altruist or Charles Schwab in an account registered in your name and social security number or a tax identification number for trust accounts.
We never take physical custody or possession of client assets.
How are you compensated?
How often will we meet?
We will meet with you either in person or virtually based on your desires. This can be as-needed, quarterly, semi-annual, or annually.
How often will I get reports from you?
Your assets’ custodian will send monthly reports. We can provide comprehensive customized reports at any time upon your request.
My question is not in the list above. How can I get an answer?