Here are some of our more frequently asked questions… and their answers.
Our wealth management services follow the seven key areas of financial planning. All seven areas are like a great spaghetti dish – they are ingredients that give tasty outcomes when working together. The seven areas are:
Net worth – efficient strategies for what you own and what you owe, where your assets are located and how are they owned/held.
Cash flow – how and when is income received and outflows paid; think of this as less budgeting and more like managing the cash flow of a business entity.
Risk management – what is your risk exposure, how are you protected, what risks should be transferred to insurance coverage, and which risks can be self-managed (life, health, disability, personal and professional liability, long-term care, home and auto, etc.).
Investing – making the best possible use of your investable assets, aligned with your financial purpose and Risk Number®, and building the right investment strategy to fund what’s most important to you at the right time. This may also include company sponsored plans (401k, 403b, 457, etc), real estate, and other types of investments.
Tax planning – if you are investing, receiving income, acquiring assets of any kind, there is a tax implication involved. While we are not a CPA firm and are not licensed to give tax advice, we help with tax strategy in collaboration with your CPA.
Retirement planning – the word “retirement” can mean something different to everyone…. what does it mean to you? Whatever it is, we’ll define your vision and consistent steps needed to help you reach your “there.”
Estate planning – you’ll spend you whole life saving and acquiring things, so let’s plan for how your legacy reaches those you care about in the most efficient way. While we are not attorneys, we help with estate planning strategy in collaboration with estate planning professionals.
Divorce Financial Analysis – working with clients and their attorney(s) to better understand the potential financial impacts of a divorce settlement. This work includes evaluating areas such as: property division, assets and pensions, tax considerations, and cash flow/budget projections post-settlement.
Yes. This meeting is offered by phone, virtual, or in person and is by appointment. You don’t need to bring any paperwork, fill out a long questionnaire, or sit through a sales presentation. This is an interactive meeting, so come prepared for a great conversation.
If you’re ready to get started, schedule your free consultation here.
Our one-time getting organized fee covers the costs associated with gathering all of the necessary information to create a comprehensive financial plan for you. This includes analyzing your financial history, assessing your current assets, and determining your short- and long-term goals.
The fiduciary standard, established in 1940, requires advisors to prioritize their clients’ interests. Recommendations must be the best for the client, regardless of how it affects the advisor’s income. Advisors may also follow the suitability standard, but it may not place your best interest first. Always ask your advisor which standard they follow consistently.
Ask your advisor which standard they operate under. They should consistently operate under one standard or the other, but not both.
CFP® professionals understand the responsibility of guiding your financial future and choose to be held to a higher standard of ethics and behavior. To earn this designation, CFP® professionals undergo lengthy experience and education requirements, as well as a thorough ethics and background check.
You can learn more about the CFP® certification and requirements here.
Nope. Certain financial tools like insurance and annuities may be recommended as part of your overall wealth management strategy. Should these fit your needs, we will provide solutions that are provided specifically for fee only advisors and their clients.
As a fee only wealth management firm, we are paid directly by our clients and do not earn commissions for product sales or referrals. Learn more about our fees here.
Assets for clients of Life Moves Wealth Management are held at Charles Schwab, our chosen custodian. There are lots of options for custodians; Click here to see why we believe this platform is the right fit for clients of Life Moves Wealth Management.
While we have a defined process and experience in serving business owners and professionals, we can likely work with anyone who is a good fit and desires ongoing real wealth management services.
Yes! In fact, we already serve clients in multiple states. Life Moves Wealth Management is currently registered with the States of Arizona, Indiana, and in other jurisdictions where exempted.
Yes. All of the above. When scheduling, we make it easy for your to choose the best format, day, and time for us to meet.
For most clients, we will meet 2-3 times per year. Our clients are busy people, so we have invested in great technology to update financial progress on demand, via mobile app and web portal. We also provide a proactive and brief monthly financial health check-up.
Great question! No.
We believe there is a major advice gap for those with less assets than what is often required by other firms. Rather than waiting for you to have “enough” money, we’d rather be part of your financial journey.
Our fees are paid directly by our clients, generally on a monthly basis. With written authorization, fees may be debited directly from investment accounts we manage, and/or as an ACH arrangement from a suitable outside account. We will decide the best arrangement for you during our onboarding process.
Please contact us to send your question or schedule time to discuss.
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