| 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. The financial planning process
consists of seven distinct steps (see Building
a Brighter Financial Future for details on Veronica's 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
Veronica focuses 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 Veronica does 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, Veronica designs a customized financial plan for
you. Finally, to achieve the intended results, you must
implement and monitor your plan.
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3. Sounds
like a lot of work!
It may seem like that
at first, but the good news is, if you follow your plan and
maintain a disciplined approach, you can rest well knowing you
can reach your stated goals. Veronica tries to make the process as easy as possible for you.
In addition to receiving professional advice on your most
important financial concerns, we can also provide
implementation and ongoing asset management services, if
appropriate for your needs.
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4. Who
can benefit from your services?
Any
individual seeking financial peace of mind can benefit from
Veronica's services. She serves people at all income levels, from all
walks of life. Clients have the flexibility to work with her on
either a one-time, as-needed basis or an ongoing basis.
Veronica welcomes clients who simply need a one-time financial
consultation or a second opinion, as well as those who need
comprehensive financial planning and possible ongoing asset
management services. In addition, any corporation or
organization seeking quality, unbiased financial education for
their employees or members can benefit from her financial
education programs.
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5. What
is ''Fee-Only'' financial planning and why should that be
important to me?
Because
Veronica is a Fee-Only
financial planner, all conflicts of interest regarding
compensation are removed. She does not accept sales commissions;
she works solely for her clients. Because she does 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.
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In addition,
Veronica is a
Registered Investment Advisor (RIA); as such, she 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. She would be happy
to send you a copy of our ADV Part II. Please contact
her to request your copy.
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6. What
is the advantage of employing a Certified Financial Planner
(CFP)? A Certified Financial Planner is
committed to competent and ethical behavior when providing
financial advice. Certified Financial Planners have
demonstrated their professionalism by submitting to the
rigorous CFP certification
process. This includes a comprehensive ten hour CFP
Certification Examination, a minimum of three years experience
in the financial planning process, and extensive education
requirements. A CFP must also continually update their
abilities and abide by the CFP Board's Code of Ethics and
Professional Responsibility and Planning Practice
Standards. For more information about Certified
Financial Planners, click
here to link to the CFP Board's web site.
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7. 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
Veronica does not sell financial products, she 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, she can direct
you to the resources you need and/or help you obtain these
products and services. If appropriate, Veronica can also help you
implement your plan and set up your accounts.
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8. Does
Veronica R. Hart provide only comprehensive financial
planning?
No. Although a comprehensive
financial plan can provide the greatest benefits, Veronica can limit
her advisory services to your specific needs, such as cash
management and budgeting, investment analysis or college
education funding.
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9. 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 Veronica realizes that
everyone has financial needs. She is proud to work with people
from all income levels, and all walks of life. Remember, ''You
don't have to have a fortune to start building one.'' Call her
today and let's get started.
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10. I
have already accumulated substantial assets and think I am
doing quite well. But as I progress and build for the future,
things seem to be getting more complicated. I want to be sure
I am on track, but I don’t always have the time or
inclination to manage the myriad details by myself. Can you
help me?
Yes. People who need more
sophisticated financial planning or advice will find
Veronica's services appealing and beneficial. If you have a desire to
simplify your financial affairs, her Ongoing Retainer Client
Program may be right for you (see Building
a Brighter Financial Future.) If you are looking for a
professional review or a second opinion to ensure you are on
track, she can provide that, too.
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11. 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 key in building employee
participation. Veronica can help your
people understand the benefits of your programs. Please call
to discuss your specific needs. She can custom-build an
educational program for your company.
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12. What
types of securities do you provide advice for?
Veronica provides advice for all types of securities, including
mutual funds, stocks (as they relate to your portfolio
holdings), bonds, bank deposits, variable and fixed annuities,
limited partnerships and tax shelters. She also provides 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, Veronica can provide counseling, guidance and/or resources
for you. Because she wants her clients to know that they can
call on her with any and all of their financial concerns, she
has developed the slogan ''Financial Planning and Advice for
Everyday Life.'' Clients are encouraged to call her 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. Veronica also encourages her clients to call
her 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?'', or ''How can I maximize my Flex Spending Account,
Cafeteria Plan or Section 125 Plan at work?''
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13. If
I use Veronica's advice to develop a financial plan, am I
obligated to purchase the recommended products?
Absolutely not. Veronica will offer recommendations which in
her 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, she will suggest
the kind of policy, which riders and what amounts may be best
for you. She will then direct you to a choice of companies that
can provide a quality product at competitive prices for you.
If you wish, Veronica 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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14. Tell
me about your investment philosophy.
As a financial planners and investment
consultant, Veronica believes 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. Veronica does not suggest that she can, or that any
of the money or mutual fund managers that she recommends, will
make the correct decision every time. She does 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. Veronica believes that having a
diversified, well-balanced portfolio, following long-term
buy-and-hold strategies, and having patience, will increase
the likelihood that one will achieve their long-term financial
objectives.
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15. How
do you select investments for a client?
Before Veronica recommends any investment, she considers 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, she focuses primarily on the philosophies,
experience and track record of the management team. With fixed
income investments, she looks for the best yield available for a
given quality of security. As a fiduciary for her clients,
Veronica strives 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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16. How
much will my financial plan cost?
Financial planning fees are determined on a project basis; the
total fee for a financial plan will vary from client to client
based on the specific needs and complexity of your situation
(please see our diagram Building
a Brighter Financial Future to learn about our financial
planning sequence and the client service options available).
An estimate is provided after the Get Acquainted Meeting, when
your personal needs are fully identified. Once your financial
plan is complete, there are three basic levels of
client/advisor relationships (for more information, see Building
a Brighter Financial Future diagram).
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17. Are
your fees tax deductible? Yes. Section
212 of the Internal Revenue Code permits an itemized deduction
for tax and/or investment advice in the miscellaneous section
of Schedule A. It is subject to a 2% floor of the adjusted
gross income on a personal tax return.
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18. Once
my financial plan is completed, will our relationship end?
Depending on your client track, the actual
engagement of services may end (please refer to Seven
Steps to Building a Brighter Financial Future), but the
majority of Veronica's clients choose one of her two Continuing
Client Programs. Because financial planning is a process,
not an event, Veronica offers ongoing services, periodic reviews and
day-to-day consultation as requested and/or needed.
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19. How
can I get started?
The first step is an
initial inquiry from you. Call Veronica at (979) 680-1838 or
email her at vhart@getplanning.com.
She offers an initial no-cost, no-obligation Get Acquainted
Meeting, either on the phone or in her office. For Get
Acquainted Meetings, appointments are scheduled based on
availability during regular business hours of 9-5, Monday
through Friday. Expanded office hours are available to
accommodate special needs or emergency situations. Should you
decide to engage our services, Veronica can discuss which of
her services and client tracks is appropriate for you. Most
clients find the financial planning process to be stimulating
and enlightening. The end result, of course, is greater peace
of mind. Veronica looks forward to helping YOU build a brighter
financial future!
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