- What does “fee-only mean?
- How do I decide if your firm is right for me?
- What services do you provide?
- Are you owned by anyone else?
- What is comprehensive financial planning?
- How long does it take to prepare a comprehensive financial plan?
- How do you calculate fees?
- How many financial planning meetings are normally scheduled?
- What happens once my plan is complete?
- What is investment management?
- Who has custody of my investments?
- Can I manage my own investments if I work with Reason Financial Advisors?
- Can you help me allocate my 401(k)?
- Are there any other fees I pay?
- Do you have a minimum account size?
- How do I get started?
Fee-only refers to the type of compensation received by the financial planner. A fee-only planner is compensated solely by fees paid by clients and receives no sales commissions, referral fees, 12b1 fees or other compensation for transactions. Why fee-only? Because we believe it results in more objective advice.
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How do I decide if your firm is right for me?
It’s important to trust and feel comfortable with individuals when you select a financial planner because you’re sharing the important financial issues of your life. Call (847) 205-9501 and schedule a no-cost, no-obligation, Initial Interview. We encourage you to complete the Initial Interview Questionnaire and return it to our office at least two business days prior to our meeting.
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Reason Financial Advisors, Inc. offers three distinct levels of service to address the needs of our clients. Our Modular Consulting service is designed to be “a la carte” and you choose from a menu of services. Comprehensive Financial Planning examines all aspects of your financial life including specific investment recommendations that you implement on your own. Our Premier Advisory service combines ongoing comprehensive financial planning and investment management into one service.
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Reason Financial Advisors, Inc. is independently owned and operated and is not affiliated with any brokerage firm, bank, insurance company, mutual fund, legal or accounting firm. We may make referrals to other professional advisors as needed, but no referral fees are paid or received.
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What is comprehensive financial planning?
Comprehensive Financial Planning addresses all areas of an individual’s financial life and helps to create a road map to achieving your financial goals. We do this by a series of appointments to create a written financial plan with specific recommendations that are unique to your needs. Area’s that are addressed include cash flow management, asset allocation, investment selection, risk management, employee benefit planning, retirement planning, estate planning, education planning.
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How long does it take to prepare a comprehensive financial plan?
From the time we receive a completed engagement agreement, the average plan is normally finished in approximately seven to ten weeks.
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Fees for Modular Consulting and Comprehensive Financial Planning are calculated based on an estimate of our billable time to complete the engagement. Our current fees range from $100 to $195 on an hourly rate basis, depending upon the level and scope of the services required and the professional, para-professional and/or administrative personnel rendering the service. The fee for our investment Management service is based on the amount of assets under management.
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How many financial planning meetings are normally scheduled?
Four or five meetings are usually appropriate during the first year.
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What happens once my plan is complete?
We believe financial planning is a process rather than a one-time event. For Comprehensive Financial Planning clients, we update their plan annually including an investment review. For our Modular Consulting cliens, the client relationship is completed once the work, as outlined in the financial planning agreement, has been performed.
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What is investment management?
Discretionary investment management exists when a client signs a limited power of attorney authorizing a financial advisor to purchase and sell various investments in the client’s brokerage account. Non-discretionary investment management does not involve a limited power of attorney, therefore the financial advisor provides recommendations to a client prior to each transaction being initiated.
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Who has custody of my investments?
Reason Financial Advisors, Inc. uses a discount brokerage services to provide our Premier Advisory clients with custody, reporting and record keeping. They provide directly to our clients all trade confirmations on securities purchased and sold, monthly brokerage statements and year-end tax reports. All accounts are registered in the client’s name and disbursements may only be made to the client at his or her address. RFA maintains a limited power of attorney to execute trades within the client’s account.
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Can I manage my own investments if I work with Reason Financial Advisors?
Yes, our Comprehensive Financial Planning includes an annual review of your portfolio and provides you with specific investment recommendations. You choose whether to implement any or all of the recommendations, as well as when to do so.
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Can you help me allocate my 401(k)?
Of course. For many of our clients, retirement plans make up a major part of their investable assets. Both our Comprehensive Financial Planning service and our Premier Advisory service include specific recommendations on available investment choices in company-sponsored retirement plans, based upon the overall asset allocation strategy of each client.
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Are there any other fees I pay?
No other fees are charged by Reason Financial Advisors. The brokerage firm may charge a small transaction fee on the purchase or sale of securities. Also all mutual funds and exchange traded funds (ETF’s) charge a small fee.
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Do you have a minimum account size?
Modular Consulting is available on an hourly basis. For our Investment Management service, we can economically and effectively manage accounts starting at $150,000.
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The first step is to contact us at (847) 205-9501 or by email at info@reasonfinancial.com to schedule a no-cost, no-obligation Initial Interview. Prior to the meeting, download our Initial Interview Questionnaire and Form ADV Part II. Although most of our client’s prefer to meet in person, we understand that sometimes it may have to be done by telephone. All meetings are by appointment only. Evening and Saturday morning hours are available to meet client needs.
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