FAQs
- Please tell me about the financial planning process.
- How do you create this blueprint?
- Who can benefit most from your services?
- What is "Fee-Only" financial planning and why should that be important to me?
- I understand the benefits of working with a Fee-Only financial planner, but I might need to obtain financial products. How will I be able to do that?
- Does Sailor Financial provide only comprehensive financial planning?
- My spouse and I are just beginning to build for our financial future. There is so much to learn! We need help and guidance to get started. Will you accept us as clients?
- I’ve been handling the finances myself and think I’ve done quite well, but things seem to be getting more complicated. I want to be sure I am on the right track. Can you help me?
- I’m in charge of the retirement plans and employee benefits at my firm. I would like to increase the number of employees who participate in our benefit programs. How can you help us?
- What types of securities do you provide advice for?
- If I use Sailor Financial to develop a financial plan, am I obligated to purchase the recommended products?
- Tell me about your investment philosophy.
- How do you select investments for a client?
- Once my financial plan is completed, will our relationship end?
- How can I get started?
1. Please tell me about the financial planning process. Financial planning is a multi-step process that provides you with two important things: (1) An in-depth review of your current financial situation, and (2) a blueprint that shows you how to achieve your goals and objectives for the future. At Sailor Financial, the financial planning process consists of seven distinct steps (see What to expect for details on our unique financial planning process). It is important to remember that financial planning is a process . . . not an event.
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2. How do you create this blueprint? First we focus on your goals, objectives, priorities and values. For instance: the reduction of current and future income taxes may be an immediate goal, funding a quality education for your children and/or grandchildren may be an intermediate goal, and enjoying a secure financial future in your retirement years is likely to be one of your most important long-term goals. Another great goal in life for some people is creating wealth and/or leaving a legacy for your chosen beneficiaries or charities. You may already be on the road to meeting these objectives and simply need a new strategy, professional insight, or to fine-tune your plan. You may just be starting out, or you may be somewhere in between. Whatever your unique situation may be, everyone needs a periodic assessment of where they are on the road to meeting their financial goals. That’s why we do an in-depth review of your current financial situation. Next, you need to know how you can set about achieving (or continue working toward) your financial goals. By focusing on cash flow, investments, taxes, pensions and retirement plans, estate planning, insurance issues, savings opportunities and other general financial matters, we design a customized financial plan for you. Finally, to achieve the intended results, you must implement and monitor your plan.
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3. Who can benefit most from your services? Any individual seeking financial peace of mind can benefit from our services. We serve people at all income levels, from all walks of life. Clients have the flexibility to work with us on either a one-time, as-needed or ongoing basis. We welcome clients who simply need a one-time financial consultation or a second opinion, as well as those who need comprehensive financial planning. In addition, any corporation or organization seeking quality, unbiased financial education for their employees or members can benefit from our financial education programs.
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4. What is "Fee-Only" financial planning and why should that be important to me? Because we are Fee-Only financial planners, all conflicts of interest regarding compensation are removed. We do not accept sales commissions; we work solely for our clients. Because we do not sell financial products such as investments and insurance, there are no third-party relationships or outside influences to color our thinking and financial recommendations. For more information on Fee-Only financial planning, including our Code of Ethics, Fiduciary Code and member requirements, please visit www.NAPFA.org.
In addition, our firm is a Registered Investment Advisor (RIA); as such, we must comply with a host of regulations designed to protect the consumer. One important question you should always ask when considering a financial planner’s services: "May I please have a copy of your ADV Part II?" This document contains important information about the planner’s qualifications, fiduciary duties, history of any past violations, etc. See the Forms page for a copy of our ADV Part II.
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5. I understand the benefits of working with a Fee-Only financial planner, but I might need to obtain financial products. How will I be able to do that? While we do not sell financial products, we will offer specific recommendations and opinions regarding the purchase of the various financial products that may be appropriate for you. So, if you need to obtain an insurance policy or a new mortgage, invest into a portfolio of mutual funds, or find an estate planning attorney or tax professional, we can direct you to the resources you need and/or help you obtain these products and services. If appropriate, we can also help you implement your plan and set up your accounts.
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6. Does Sailor Financial provide only comprehensive financial planning? No. Although a comprehensive financial plan can provide the greatest benefits, we can limit our advisory services to your specific needs, such as cash management and budgeting, investment analysis or college education funding.
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7. My spouse and I are just beginning to build for our financial future. There is so much to learn! We need help and guidance to get started. Will you accept us as clients? Yes. Some firms have income levels and/or net worth minimums but, at Sailor Financial, we realize that everyone has financial needs. We are happy to work with people from all income levels, and all walks of life.
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8. I’ve been handling the finances myself and think I’ve done quite well, but things seem to be getting more complicated. I want to be sure I am on the right track. Can you help me? Yes. People who need more sophisticated financial planning or advice will find our services appealing and beneficial. If you have a desire to simplify your financial affairs, we can provide whatever scope of ongoing services that is right for you. If you are looking for a professional review or a second opinion to ensure you are on track, we can provide that, too.
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9. I’m in charge of the retirement plans and employee benefits at my firm. I would like to increase the number of employees who participate in our benefit programs. How can you help us? Corporate education is a key to building, increasing, and maintaining employee participation. Our financial planning team can help your people understand the benefits of your programs. Please call to discuss your specific needs. We can custom-build an educational program for your company.
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10. What types of securities do you provide advice for? We provide advice for all types of securities, including mutual funds, stocks (as they relate to your portfolio holdings), bonds, bank deposits, and variable and fixed annuities. We also provide advice on mortgages, budgeting and cash flow issues, 401(k), 403(b) and other retirement programs, stock options, life and disability insurance, etc. If it has to do with money and finances, we can provide counseling, guidance and/or resources for you. We want our clients to know that they can call on us with any and all of their financial concerns. Clients are encouraged to call us when they have a major life event, such as a new job, a baby, a marriage or divorce, or if they are planning to buy a new home or start their own business. We also encourage our clients to call us with more common everyday questions, such as: "How should I invest within my 401(k) or 403(b) plan?" "How can I reduce my taxes?" "What advice can you offer on refinancing my home?" "How can I maximize my Flex Spending Account, Cafeteria Plan or Section 125 Plan at work?"
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11. If I use Sailor Financial to develop a financial plan, am I obligated to purchase the recommended products? Absolutely not. We will offer recommendations which in our professional opinion will meet your needs and objectives, but you are under no obligation to purchase them. In today’s competitive market, it makes sense to shop around for the best available product or service. For instance, if you need to obtain a life insurance or disability policy, we will suggest the kind of policy, which riders and what amounts may be best for you. We will then direct you to a choice of companies that can provide a quality product at competitive prices for you. If you wish, we can help you purchase investments and/or set up your accounts with a third-party custodian such as a discount broker.
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12. Tell me about your investment philosophy. As financial planners and investment consultants, we believe in the following fundamental principals with regard to designing an investment portfolio and making specific recommendations: The purpose of a client’s investment portfolio is to fund current and/or future financial objectives. The design of the portfolio must take into account the client’s financial objectives, tolerance for risk, needs for current income or liquidity, and special considerations such as income and estate taxes. The important thing to remember is that no one can predict the future. It is difference of opinion that makes a market. Investment and economic "experts" provided with the same information often come to different conclusions. We do not suggest that we can, or that any of the money or mutual fund managers that we recommend, will make the correct decision every time. We do believe, however, that studying the historic trends and relationships of investment classes and the philosophies and approaches of successful investment managers can provide valuable insight. The appropriate allocation of investment assets for your goals and risk tolerance is the most important component in developing an investment portfolio. We believe that having a diversified, well-balanced portfolio, following long-term buy-and-hold strategies, and having patience, will increase the likelihood that you will achieve your long-term financial objectives.
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13. How do you select investments for a client? Before we recommend any investment, we consider the current economic conditions, the outlook for that asset class or type of security and how this investment fits within your portfolio given your objectives and tolerance for risk. For equity investments, we focus primarily on the philosophies, experience and track record of the management team. With fixed income investments, we look for the best yield available for a given quality of security. As fiduciaries for our clients, we strive to obtain the most appropriate investment vehicles to meet your objectives, while being very conscious of total expenses and risk exposure.
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14. Once my financial plan is completed, will our relationship end? No. We develop long-term relationships with most of our clients. After your financial plan or project is completed, we minimally schedule a 6-month check-up, but often schedule additional brief follow-up meetings to measure progress. Please refer to What to expect, for more details. Because financial planning is a process, not an event, we offer ongoing services, periodic reviews and day-to-day consultation as requested and/or needed.
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15. How can I get started? The first step is an initial inquiry from you. Please Contact Us if you’re ready to get started. We offer an initial no-cost, no-obligation Get Acquainted Meeting, either on the phone or in our office. For Get Acquainted Meetings, appointments are scheduled based on availability during the hours of 9-3, Monday through Thursday.
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