FAQ’s

Our compensation is exclusively from our clients. Financial Connections is a fee-only firm. We accept no commissions or any other compensation from any of the investments we recommend. We are fiduciaries – putting our client’s interest first.

FINANCIAL PLANNING

Depending upon the type of relationship you want with Financial Connections, we offer:

• Project-Based Financial Planning – discusses your objectives and questions you want the financial plan to answer. We ask that you complete a questionnaire and spending worksheet prior to our first meeting. The “get acquainted” meeting is no charge. Receiving these documents in advance allows us time to review your circumstances for a more productive meeting. Based on how much time it will take to create the plan, we quote you a price range (number of hours times the hourly rate). We will identify documents we need to work on your plan. Utilizing the information, we create the scenarios that respond to your questions and issues. Once the project is complete, our relationship ends. However, you may continue our relationship with either the Implementation Assistance Service OR our Concierge Service.Implementation Assistance Service allows us to help you implement your plan. The Concierge Service is more robust – see below

• Concierge Service – is our most comprehensive service, which may encompass a variety of ongoing planning services, including but not limited to:
  • Ongoing financial planning
  • Long-Term Care planning
  • Medicare planning
  • Financial Life Coaching for non-economic issues, e.g. retirement coaching
  • Attendance, if appropriate, at attorney and tax professional meetings

We will be your first stop for any financial questions. Think of us as your resource library. If desired meeting annually with your adult children. Our fee is an annual retainer, depending on the complexity of your situation.

Financial planning is a process that changes as your life changes. We prepare a review and analysis that can cover any or all the following areas:

• Personal Financial Statement
• Cash flow management
• Education planning/savings
• Investments: How are you invested now? Is it aligned with your future goals?
• Retirement/transition planning: Where are you today? Is it consistent with your goals?
• Withdrawal: How do you replace your paycheck in retirement?
• Rollovers: Should you rollover your 401(k) plan?
• Pensions: Should you receive monthly income or roll the balance to an IRA?
• Tax planning
• Risk management (for example: disability and life insurance, long-term care insurance)
• Elder care issues
• Estate planning

IMPLEMENTATION ASSISTANCE SERVICE

At the end of your financial plan, we will include a list of Next Steps to take. If you would like our help working with you to implement the plan recommendations, we will provide a quarterly “To Do” list for us to work on together. It will be a fixed fee, based on activities required.

INVESTMENT SERVICES

We offer two investment services.

• Customized investment portfolio – designed as the next step after your financial plan. We create a portfolio for your circumstances that takes into account tax issues, risk tolerance and timeframe. Also included is your personal website. Minimum investment $750,000.
• Digital Investment Management (FC Digital) – based on your responses to risk questions, a model portfolio is assigned. Opening and transferring of accounts is accomplished electronically. Portfolio information is available 24/7 via a portal. Minimum investment $10,000

Diversification is the combination of various asset classes in a portfolio. It may include:

• Cash and cash equivalents;
• Bonds
• Domestic/International large-, medium-, and small-size companies
• Tangible/Real Assets (commodities, real estate, etc.)

We use a combination of passive (index style) and active (stock selection) investments. We view this as part of diversification. Depending upon your stage of life and what the portfolio needs to do for you, we review volatility (market fluctuations), distribution requirements and years of growth available to absorb market downturns.

Dimensional Funds Advisors (DFA), Vanguard and T. Rowe Price. We prefer these companies because of their corporate culture, low expenses in their mutual funds and the longevity and quality of the fund managers.