Frequently Asked Questions
Q. What should I bring to our first meeting?
A. The initial meeting is a time for us to get to know each other. It’s important that you find an advisor that you like and trust. It’s also important for your advisor to truly understand your current financial situation. You will likely be asked to share some personal information such as:
- Your age
- Your present income level and projected future income
- Your current spending needs
- Any projected expenses
- Your assets and liabilities
- The number of dependents you are responsible for
- Any possible health or external issues that may impact your finances
A questionnaire can be emailed or mailed to you to help with this process. In addition to the items above, the following documents are also helpful in order to understand your entire situation:
- A copy of your most recent monthly or quarterly investment statement (IRA’s, brokerage accounts, 401k’s)
- A list of the investments available in your 401k plan
- Information regarding your social security benefits
- Information regarding your pension plan
- Information on your existing life insurance, disability, or long term care coverage including employee benefits
- A copy of your most recent tax return
Q. How do financial advisors get paid?
A. It’s important to understand how your advisor gets paid. Basically there are 3 ways:
- A commission is usually a percentage of the amount you invested. The percentage may vary according to the type of product you are buying. This typically requires a transaction to occur before the advisor can be paid.
- Management Fee
- The advisor may charge a percentage every quarter for managing and monitoring your account(s) as well as providing a financial plan or other financial advice such as how to pay down debt.
- Hourly Rate
- An advisor may charge an hourly rate for their services similar to an attorney or an accountant.
Q. How does Integrity Financial get paid?
A. We love flexibility and choices, so we can put a plan together that’s perfect for you. We have the option to use any of the methods mentioned under the previous question. It depends on your account size, needs, and personal preferences. Whenever recommending a particular product or service, we will describe how we are paid in detail, so you can make an educated decision.
Q. I don’t understand investing, so I don’t even know what to ask.
A. We understand that investments can be complicated, overwhelming, and confusing. That’s why you hire a professional. Just like you would hire a personal trainer to improve your fitness, you hire a financial advisor to improve your financial situation. No matter what your level of knowledge, we will work with you to help you improve your situation. We strive to educate you on the basics of finance so you can avoid some of the common mistakes that can threaten a comfortable retirement. We also offer regular educational workshops for clients who want to learn even more.
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