Frequently Asked Questions

What does a financial advisor actually do?

A financial advisor helps you organize the different pieces of your financial life and develop a strategy around your goals. This can include retirement planning, investments, income strategies, tax considerations, estate planning, and helping you make informed financial decisions along the way.

How do I know if I need a financial advisor?

You don't need to be wealthy to benefit from financial advice. Many people reach out when they're approaching retirement, changing jobs, receiving an inheritance, concerned about taxes, or simply wondering whether they're making the right financial decisions. Sometimes the greatest value is simply having a plan and knowing where you stand.

How much money do I need before working with a financial advisor?

There isn't one number that determines when you should seek financial advice. Your financial situation, goals, and the complexity of the decisions you're facing are often more important than the size of your portfolio.

How are you compensated?

Understanding how your financial advisor is compensated is important. Depending on the services and investments involved, compensation may come through advisory fees, commissions, or other arrangements. We believe those costs should be clearly explained so you understand what you're paying and the services you're receiving.

Are you a fiduciary?

When providing advisory services in a fiduciary capacity, we are required to put our clients' interests first. We believe recommendations should begin with understanding you—your goals, needs, concerns, and financial situation—not simply with choosing an investment.

Can you help me determine when I can retire?

Yes. Retirement planning is about much more than reaching a certain account balance. We look at your expected expenses, Social Security, pensions, investments, taxes, inflation, and other income sources to help determine whether you're financially prepared for retirement and how to create income once you get there.

Can you help me reduce taxes in retirement?

Tax planning can be an important part of retirement planning. We can help you evaluate strategies involving Traditional and Roth accounts, withdrawals, Roth conversions, required minimum distributions, and taxable investments. When appropriate, we can also coordinate with your CPA or tax professional.

Which retirement accounts should I withdraw from first?

There isn't one withdrawal order that works for everyone. The right strategy may involve taxable accounts, Traditional IRAs and 401(k)s, Roth accounts, Social Security, and other assets. We look at both your current income needs and the potential long-term tax consequences when developing a withdrawal strategy.

What happens to my 401(k) when I retire or leave my employer?

You generally have several choices, which may include leaving the money in your former employer's plan, rolling it into a new employer's plan, rolling it into an IRA, or taking a distribution. Each option has advantages, disadvantages, costs, investment considerations, and potential tax consequences that should be reviewed before making a decision.

What should I expect at our first meeting?

Our first conversation is about getting to know each other. We'll talk about where you are today, what you've accumulated, your goals, concerns, and what you want your money to accomplish. It's also your opportunity to ask questions and determine whether working together feels like the right fit.

What makes working with a financial advisor different from using a robo-advisor or managing my investments myself?

Technology can be a useful tool for managing investments, but financial planning involves much more than selecting a portfolio. A financial advisor provides personal guidance based on your individual circumstances, goals, and concerns. We can help you navigate important decisions involving retirement income, taxes, Social Security, market volatility, estate planning, and changes that occur throughout your life. Perhaps most importantly, you have someone you can talk to when questions arise or when circumstances change.