The CFP® stands for CERTIFIED FINANCIAL PLANNER™ professional and has, at a minimum:

• An undergraduate degree
• Three years of client experience in financial planning
• Completed a financial planning education program
• Passed a rigorous comprehensive exam (~60% pass rate)
• Completes 30 hours of continuing education bi-annually
• Adheres to strict ethical standards

Read more about this designation from the CFP Board.

You have so many goals competing for your financial resources that are limited to a certain extent: paying off your student loans, buying a home, saving for retirement, planning for college, and all that while trying to balance your current lifestyle! A financial planner has the expertise and experience to manage your financial household and will help you tackle those goals that are important to you.

The value of a financial planner adds a real economic benefit in ways that can be easily measured such as the added value of portfolio construction, asset allocation, and rebalancing to other ways that cannot be easily measured such as assistance with implementation and behavioral coaching that will not only add to your available time but to your emotional well-being.

We all want to be smarter with our money, sometimes there just isn’t enough time or energy to take action on making a plan. Why wait to get started?

If you’re looking for hot stock picks or the fancy office with everyone in a suit and tie … this would not be a good fit for you.

• We believe chasing market returns and buying what’s “hot” can be costly to your portfolio and taking on more risk than necessary. We choose low-cost investments, diversification, and long holding periods that aligns with your goals and tolerance for risk. As for the other stuff, we want our clients to be comfortable and confident. No intimidation or high-pressure sales here.

If you are not willing to put in the effort to better your finances … this would not be a good fit for you.

• Financial planning requires well … a lot of planning, and in order for us to plan effectively, we need the data. In the beginning of the relationship, your role will consist of gathering the information we need in order to gain a holistic view of your financial picture. Next comes the implementation part. A plan without action is of no value to you which is why we assist you with the implementation part. And finally, we ask that you inform us of any changes in your situation. The benefit of a subscription-based model is that we want you to stay engaged and we encourage you to call us anytime you have a question or an idea you want to bounce off us. We’re here to serve as your accountability partner, coach, and advisor.

If you are not comfortable with technology … this would not be a good fit for you.

• We have set up our business to run virtually. While we do offer in-person meetings to our nearby clients in the Midland-Odessa area, the majority of our business processes are set up to be completed online. From opening your account, viewing your financial plan, billing, and even our meetings, it can all be done from your personal computer. We use the latest tools all the while focusing on keeping costs low and saving our clients time.

Anyone can hang out a shingle as a financial planner, but that doesn’t make that person an expert. They may tack on an alphabet soup of letters after their names, but CFP® is the most significant credential. A CFP® has passed a rigorous comprehensive exam to demonstrate their knowledge on financial planning topics but it is still important to interview at least a couple of advisors to ensure they specialize in helping people like you and that they are a good fit for you.

Financial planners are compensated either by commissions, a fee-based model, or a fee-only model. Commissions are paid to the advisor when an investment product is sold, where a fee-only advisor charges an hourly rate or a flat rate for their services. A fee-based advisor will typically use a combination of the two methods.

Depending on your preferences, ask a potential advisor about their process, their investment philosophy and how they’re compensated. A good advisor will take the time to explain things to you.

Here is a checklist from The National Association of Personal Financial Advisors (NAPFA) that can assist when choosing the right advisor for you.

The first meeting is a complimentary consultation without a high-pressure sales pitch. Call it a ‘get to know you’ meeting so you can determine if we’re somebody you would like to work with. We’ll do a quick overview of what you want to accomplish and how we can help you.

We have no account minimums! Being that we’re so untraditional and all, we are able to provide financial planning services that a young professional or growing family can afford. By combining the newest technology and keeping our overhead at a minimum, we get to focus on bringing true value to our clients.

Yes of course! It’s a pain to be locked into a contract and we want to ensure that we’re always adding value. If you need to cancel, we only need 30 days notice. I bill my clients in arrears (meaning for work already completed) so when you cancel the engagement, you will only be billed for work completed and will have no other ongoing charges.