Frequently Asked Questions
Below you’ll find answers to the questions that we get asked the most about what it’s like to work with Unique Financial Advisors.
ARE YOU A FIDUCIARY FINANCIAL ADVISOR?
Yes, I am. As a fiduciary, fee-only financial advisor, I have no conflicts of interest. I refuse commissions, referral fees or any other sort of kickbacks. My only interest is you! This means that you as the client will always come first and that I will have no incentives beyond providing you with the best possible service.
WHAT IS YOUR INVESTMENT PHILOSOPHY?
My philosophy is to invest in a low-cost, tax-efficient, globally diversified portfolios. Prior to allocating a client’s portfolio, I analyze various factors, such as – risk tolerance, risk capacity, tax situation, and time horizon. I develop an Investment Policy Statement (a.k.a. IPS) for each of my Investment Management clients.
WHAT IS YOUR FEE STRUCTURE?
Comprehensive financial planning is a flat fee service, with an up-front fee followed by an ongoing quarterly fee (starting from quarter 2). Investment Management is charged as a % of assets we manage – payable quarterly in arrears. If these continuous services are not right for you, we offer several one-time services which are priced per service. To learn more about our fees, please visit our PRICING page.
DO YOU HAVE CUSTODY OF OUR ASSETS?
No, we do not have custody of your assets. The assets are held at our custodian partner, TD Ameritrade in your name. You and You ONLY have full access to your accounts. In order for us to manage your portfolio, you will provide us a limited access to your accounts which enables us to trade on your behalf and to collect our fees when they are due.
MY FINANCIAL ACCOUNTS ARE SCATTERED. WILL YOU HELP IN CONSOLIDATING THE ACCOUNTS?
Absolutely. We not only help you with recommendations of how to consolidate, we will help you with all the necessary paper work to facilitate the transfers as required.
I AM NOT SURE YET IF WE ARE A RIGHT FIT. CAN I GET A NO-OBLIGATION MEETING?
Absolutely. In fact, I offer two types of free consultations: 1) 15-minute quick chat, and 2) Full one-hour “discovery” meeting. These meetings provide you an opportunity to learn more about me and how you could benefit from my services. During the meetings, I will briefly review your current financial situation and concerns. Please note no specific financial or tax advice is given at these free sessions.
FOR FINANCIAL PLANNING SUBSCRIPTION , DO WE NEED TO COMMIT FOR AN ENTIRE YEAR?
Although we believe commitment of one full year is reasonable to experience the fruits of our relationship, we do not impose this on you. In other words, you are not required to commit for the entire year. Our contract clearly stipulates either party can terminate the agreement with a 90-day written notice.
CAN I PAY COMPREHENSIVE FINANCIAL PLANNING FEES USING A CREDIT CARD?
Yes, you can. We use a third-party payment procesing system to handle financial planning payments from our clients. The system allows you to pay via ach or credit card – your choice. In case, you do not prefer paying via the payment processor, and would like to pay via checks, we are open for such arrangement as well.
WHAT ARE YOUR FEES FOR TAX PREPARATION SERVICES?
While tax planning is integral part of our financial planning subscription, tax preparation is s seperate service. We offer tax preparation as a convenience to our advisory clients – to become a one-stop source for their financial service needs. Keeping our bandwidth to serve our financial advisory clients in mind, a few points to note regarding our tax preparation service:
- We are currently not offering tax preparation services for partnerships, S-Corp, or C-corps. We do offer sole prop or single member LLC returns.
- Our minimum tax return preparation fees is $500.00.
- For new services that we believe cost more than $500.00, we will try to match what you paid for your last year’s tax preparation. All what we ask is – a written receipt of your payment from last year.
- Lastly, audit protection, and identity theft restoration help is provided to you from a third-party provider.
Resources
Resources & Articles For Managing Your Finances On Your Own
Tax Loss Harvesting to Help Minimize Taxes
Nobody likes to see their investments fall in value. However, savvy investors spot opportunities in good times and bad. By tax loss harvesting, you can unload stocks that have fallen in value while lessening the impact of taxes on your better-performing investments.
Staying Safe Around Bears
There have been 26 bear markets in the S&P since 1928. The average length of a bear market? 289 days or about 9.6 months. The average length of a bull market is 991 days or 2.7 years. Which provides some perspective on why, over the long-term, markets go up.
Planning for Retirement with Equity Compensation
Equity compensation is increasingly common and can add significantly to your personal wealth. It is risky and more complicated than traditional retirement savings. The best plan is to maximize both and let them work together so you can retire on your schedule and fund the life you choose in retirement.
