What is financial planning?
Financial planning can be broken down into five major categories – Retirement Planning, Insurance or Risk Management, Tax Planning, Investment Planning, and Estate Planning. Included in these categories are topics like employer benefits evaluation, Insurance analysis (including life, health and disability), income tax planning and evaluation, investment overview and recommendations, education planning, and social security planning.
Who should work with a financial planner?
The short answer: Everyone!
Financial planning is not just for the wealthy. Topics like retirement planning, risk management, tax planning, estate planning and employer benefits are relevant to us all. Chances are good that you need help with at least one (if not all) of the topics just mentioned. If that is true, then you can benefit from financial planning.
How are you different from other “financial advisors”?
Boundless Financial is a member of an organization called XY Planning Network. As part of this network of like-minded financial professionals, we are working to change the Financial Services Industry. We believe in making financial planning affordable and available to anyone. We do this by offering it as a service separate from investment management, which is only available to high net-worth individuals.
You can learn more about the XY Planning Network here.
Who do you work with?
Our focus is busy families, primarily those who own small businesses. Not sure if you fit this category? Schedule a free, 30-minute consultation to discuss your situation and individual needs.
How do you get paid?
We charge fees for the services provided. The fees are annual fees charged on a monthly basis.
We are not salespeople and do not collect any sales-related compensation from any financial products such as annuities, life insurance policies, or mutual funds. Many traditional financial advisors collect sales-related compensation. Ask your current advisor if they get paid based on the products you purchase.
Do you offer investment management?
Yes. We offer investment management services through a company called First Ascent. You are charged a low, flat fee based on the number of accounts you have.
Investment Management is offered as an add-on service to the ongoing planning relationship (Accountability Package)
What is the Certified Financial Planner™ designation and why is it important?
Within our industry, there are no official requirements to use the title Financial Advisor or Financial Planner. However, the Certified Financial Planner™ designation is a widely-known and respected designation. To obtain the designation, there are many requirements one must meet, including a bachelor’s degree, additional financial planning coursework, at least 3 years of financial planning experience, and a rigorous examination. A CFP® professional must maintain their certification status with the CFP Board by completing required continuing education. Additionally, a CFP® professional must abide by the Code of Ethics and Standard of Conduct as defined by the CFP Board. See the CFP Board’s Code and Standards here.
You can verify a professional’s CFP status with the CFP Board on this website.
FUN FACT: There are only 20,000 female CFP® professionals in the United States! Compared to over 66,000 males. source
What does it mean to be a fiduciary?
CFP® professionals are bound to the fiduciary standard. Being a fiduciary means making recommendations that are always in the client’s best interest.