Frequently Asked Questions
What do CFP, ChFC and CLU designations mean?
Certified Financial Planner (CFP) − someone trained in insurance, investments, taxes, employee benefits, retirement planning, estate planning and the financial planning process.
Chartered Financial Consultant (ChFC) − someone trained to effectively apply a comprehensive financial planning process to an individual’s and business owner’s needs.
Charted Life Underwriter (CLU) − someone knowledgeable about the life insurance needs of individuals, business owners and professionals, including income replacement, estate planning and wealth transfer.
How does the planning process work?
The financial planning process starts with a free consultation. In this initial discussion, the scope of the financial services to be provided will be established based on your current financial position, desires and financial goals. The scope of services identified during the initial meeting will be the basis of an agreement tailored to your needs.
How does financial planning work for business owners?
As a business owner, your personal financial plan is often closely interrelated with your company’s business plan. We work with business owners on a wide range of concerns: i.e. buy-sell agreements, business valuations, comprehensive employee benefit & retirement plan reviews, ownership transition & business succession plans.
Is there a standard fee schedule?
During your complimentary consultation we will get to know each other and determine the parameters of our relationship according to your needs. At that point we will decide whether a ‘commission only’ or combination ‘fee & commission based’ relationship is more appropriate for your specific needs. All insurance and annuity transactions are “net” to clients, meaning the commissions are built into the product and paid by the issuing company.
How does the financial planning process work if I have a personal accountant, lawyer, insurance agent, and banker?
Many professional advisors are specialists in specific areas and each has a role in your financial plan. However, they are often narrowly focused and very specialized. aSR’s role as financial planners is to assist you as a general contractor would to help you build a home. We review all aspects of your financial life to make sure the pieces fit together effectively, are cost efficient, properly coordinated and integrated with your risk profile as well as your lawyer, accountant, banker or insurance broker. We will also interface directly with these specialists on your behalf at your request.
Does the size of my investment portfolio matter?
No. aSR advisors work with families and business of all sizes. We customize our services to what makes sense for you. Families have different financial planning needs at different stages of their lives, just as businesses have different financial requirements depending on the stage of their development.
What happens when I decide a financial planning strategy is right for me?
The aSR team will shop the marketplace for the most competitive solutions to meet your needs. We will help you complete the needed paperwork to submit to the proper company. Once the policy is approved, we will personally deliver the contract and go over the details with you. We will continue to monitor and follow up on a regular basis.