Frequently Asked Questions

The short answer is no. If you have a plan from another firm, we can use that to put together your portfolios. If you do not have a financial plan, it is highly recommended that you have the plan for a guided roadmap for your future.

Whether or not you need a financial advisor depends on various factors, including your financial situation, goals, knowledge, and comfort level in managing your finances. Do you have financial or personal goals for yourself, your family, or your business? If yes, a financial advisor can help you reach those desired goals. Plus, financial advice isn't just for the wealthy. We are here to help you gain wealth and sustain it. 

•  I work in a genuinely independent business model.
• I give clients flexibility and transparency concerning my compensation.
• I employ a clear, consistent, and rules-based approach to investment management.
• I endeavor to make your money work for you, with your financial goals in mind.
• Finally, I love what Ido!

 When a financial advisor is described as "independent," it generally means that the advisor operates with a degree of autonomy and is not directly affiliated with or controlled by a specific financial institution or product provider. Independence in the context of financial advising is associated with certain characteristics:

1. No Affiliation with a Specific Institution: Independent financial advisors are not tied to a particular bank, brokerage firm, insurance company, or financial institution. This independence allows them greater flexibility in recommending a wider range of financial products and services.
2. Personalized Advice: Independent financial advisors are often perceived as providing more objective advice because they are not beholden to sell specific products or meet sales quotas imposed by a parent company. They can tailor their recommendations based on the client's unique needs and financial goals.
3. Fee Structure: Independent advisors may charge fees for their services rather than earning commissions on financial products they recommend. This fee-based model can help align the advisor's interests with those of the client, as their compensation is not tied directly to the sale of financial products in ad advisory relationship.
4. Access to a Broad Range of Products: Independent advisors typically have access to a wide array of financial products and services from various providers. This can enable them to select options that best suit their clients' needs without being restricted to a limited set of offerings.
5. Client-Centric Approach: Independent advisors often emphasize a client-centric approach, focusing on building long-term relationships and providing comprehensive financial planning services. Their independence allows them to prioritize the client's best interests without external pressures.

It's important to note that the term "independent" can be used in various ways, and not all advisors who claim to be independent may operate under the same business model or adhere to the same standards. Investors are encouraged to conduct due diligence when selecting a financial advisor, regardless of their claimed independence, to ensure that the advisor's philosophy, expertise, and services align with the client's financial objectives. Additionally, regulatory authorities may have specific requirements or definitions related to the use of the term "independent" in the financial industry.

 Being a fiduciary involves a legal and ethical relationship of trust and confidence between two parties. A fiduciary is an individual or entity that has the responsibility to act in the best interests of another party, known as the principal or beneficiary. The fiduciary duty requires the responsible party to set aside their own interests and prioritize the interests of the principal.

Key aspects of being a fiduciary include:

1. Duty of Loyalty: Fiduciaries must act with undivided loyalty and avoid conflicts of interest. They should not allow personal interests or relationships to interfere with their duty to the principal.
2. Duty of Care: Fiduciaries are expected to exercise reasonable care, skill, and diligence in managing the affairs and assets of the principal. This involves making informed decisions and taking appropriate actions to fulfill their responsibilities.
3. Prudent Investing: If the fiduciary is managing investments, they are generally required to make decisions with the same care, skill, prudence, and diligence that a prudent person would use in similar circumstances.
4. Full Disclosure: Fiduciaries are obligated to provide clear and complete information to the principal regarding relevant matters, allowing the principal to make informed decisions.

Examples of fiduciary relationships include:

• Trustee and Beneficiary: In a trust, the trustee is the fiduciary who manages the assets for the benefit of the beneficiaries.
• Financial Advisor and Client: Financial advisors who are fiduciaries are obligated to prioritize the financial interests of their clients in ad advisory relationship.
• Attorney and Client: Attorneys have a fiduciary duty to act in the best interests of their clients and maintain client confidentiality.
• Corporate Directors and Shareholders: Corporate directors have a fiduciary duty to shareholders, requiring them to make decisions that benefit the shareholders.

Failure to fulfill fiduciary duties can lead to legal consequences, including lawsuits and financial penalties. The exact nature and extent of fiduciary duties can vary based on the specific relationship and the applicable laws.