Frequently Asked Questions
What is a fiduciary?
Being fiuciary means that we have a legal duty to act in our clients best interest. This means that we must avoid any conflicts of interest within our operations. We do this by charging planning fees and/or charging based on assets under management. This way when you do better we do also.
What does fee-based mean?
Being fee-based means that our firm collects fees for planning services and the commissions on products. Fees for planning services can be a flat monthly fee, hourly fee, and an assets under management (AUM) fee. Fees for commissions on products comes from the recommendation of life-insurance products such as a term life policy. We focus on planning first, making sure that any recommendations align with your goals, not just selling products.
How do I know if I need a financial plan?
We believe that everyone can benefit from a financial plan at any stage of life. We know that when life transitions, money moves so we want to co-create a plan with you to navigate these transitions smoothly. Whether you’re just graduating college, getting married, having kids, or transitioning into retirement, we can develop a plan for you.
When is the best time to start investing?
At Plan2Thrive we believe investing is all about time in the market and not timing the market. We don’t attempt to time the market but instead have developed a strategy to invest based on time horizon and purpose of your money.
How much money do I need to work with Plan2Thrive?
At Plan2Thrive we do not have any net worth minimums. We are happy to help clients develop their plan to thrive regardless of the money they have.
How do you work with clients across the nation and globally?
Thanks to technological advancements, it is now easier than ever to work with clients across the nation. We provide the option to have meetings virtually through Microsoft TEAMS.
We know that with these remmote accomidations comes security concerns. We have developed methods to mitigate these security risks such as having a secure document vault and not sharing any social security numbers over email.
What if I need help but I'm not ready for a full plan?
We agree with the fact that not everyone needs a full comprehensive financial plan; however, that does not mean that you wouldn’t benefit from the help of a financial planner. We have developed a financial coaching program that allows us to help you reach the point of needing full comprehensive planning. We have advisors with ages in the 20s-60s to help people of any age range.
What is the difference between financial coaching and financial planning?
The difference between financial coaching and planning is the level of service that we provide. We understand that not everyone is in need of a full comprehensive plan so we developed financial coaching to help these people. The main determinite is the stage of life that you are in.
Financial coaching gives you access to an advisor to help get you through early life transitions such as buying a house, navigating employer benefit packages, and planning for wedding expenses. The goal with coaching is to try to avoid any decisions that you regret in the future.
Financial Planning is a full comprehensive plan. Some examples of areas this will cover is Estate Planning and Detailed Tax Planning. The goal of Financial Planning is to navigate your retirement and leaving your legacy.
For a detailed comparision of our services click here.
Where is my money held?
We primarily use SEI private trust company for our 3rd party custodian. When you invest with us, you will have your own login to see your different accounts.
For 401(k) accounts we use John Hancock as our 3rd party custodian.
