Frequently Asked Questions:
I’m not a fabulously wealthy gazillionaire, do you work with people like me?
Yes. Unlike many financial planners, I do not require that you have a minimum amount of investable assets or income before I will work with you. Schedule a $206 First Step initial consult and let’s see if we hit it off.
Why do you place an emphasis on holistic, comprehensive planning?
There are many reasons, here are just a few of them:
Without an ongoing relationship that includes ongoing follow-up, I've seen countless people pay other planners good money for great advice that doesn't get implemented.
I believe that the best advice comes from a planner understanding your entire financial life. This allows them to see connections, opportunities, and ripple effects that are often extremely difficult to see from the inside.
Life doesn't stay still for long and the best planning evolves right along with it.
Do you handle more limited planning engagements such as helping me figure out the options in my 401(k) or saving for my child’s education?
I do project-based planning like this at an hourly rate of $400 per hour or, in some cases, at an agreed upon flat fee.
Are you a fiduciary to your clients at all times?
Yes, I believe in placing your best interests first. Therefore, I am proud to commit to the following five fiduciary principles:
I will always put your best interests first.
I will act with prudence; that is, with the skill, care, diligence, and good judgment of a professional.
I will not mislead you, and I will provide conspicuous, full and fair disclosure of all important facts.
I will avoid conflicts of interest.
I will fully disclose and fairly manage, in your favor, any unavoidable conflicts.
How do you get paid?
I get paid directly and only by my clients (see my fees and services page for more detail).
How DON’T you get paid?
I DON’T get paid via commissions, kickbacks, "trails", 12b-1 fees, or referral fees for the work I do with my clients.
I am here to provide you with only my best, objective advice and to help you implement that advice. Although working on a partially or wholly commission-based sales model is the dominant approach in financial services, I believe that creates a deeply troubling conflict of interest and should be avoided.
What’s your investment philosophy?
Where possible, I tend to favor what is often called “passive” investing. In this approach one typically focuses on keeping investment expenses low, using a diversified asset allocation, and favoring investments that attempt to mimic markets instead of trying to outperform them. Although it sounds very appealing to imagine that a skilled mutual fund portfolio manager could consistently outsmart the market over the long-term through “active” management, evidence shows that, after expenses, the vast majority of them don’t.
Do you offer an initial consultation?
I charge $206* (half of my normal hourly rate) for the First Step Initial Consultation, This is a one-time, 1-hour introductory planning consultation. The goal of the first meeting is to learn more about you, your objectives/goals/values, what working together might look like, and to determine if working together further makes sense/would be a good mutual fit. This meeting is a brief initial consultation about working together and will usually not result in a written financial advice.
*As part of serving my current clients and the people they care about, I will waive the $206 for for an initial consultation for friends/loved ones they refer to me.
Do you meet with clients virtually?
Yes. In normal-ish times, I meet with clients virtually and/or face-to-face in my office near Loring Park in Minneapolis, MN, however they prefer. However, since COVID variants remain a concern, I am only meeting with clients virtually until fiurther notice. My office is too small for social distancing and I have some personal risk factors so I will likely return to in-person meetings later than many other businesses.
Do I need to live near your office to work with you?
No. If you are located outside Minnesota but elsewhere in the US, please send me a quick email before scheduling your initial consultation to verify that I can work with clients in your state. I am currently able to work with clients in most states under de minimis exemptions.
I do not work with clients outside the USA.
How do I get started?
Click the “Schedule An Appointment” button at the bottom of this page. This will take you to my calendar. Book some time on my calendar and for a $200 First Step initial consultation.
I’m neither a woman nor a member of the LGBTQ+ community, do you work with people like me?
Yes. I also enjoy working with people who are supportive allies of women and the LGBTQIA+ community.
I need help but can’t afford you. What do I do?
If working with me doesn't make sense for you, I want do my best to point you in a helpful direction.
To try finding a fee-only planner who may have lower rates than me consider searching on these sites:
XY Planning Network (focuses on serving Generations X or Y and allows you to meet virtually with advisors locally or from other states) (I am a member)
Garrett Planning Network (focuses on financial planning work done on an hourly basis)
If you meet certain low asset and income guideline or have a deployed military member in your household, you may be eligible to receive free financial financial planning services (generally limited in scope and duration) through the Minnesota Financial Planning Association chapter's pro bono program. Their site also has an excellent resource list. The income & asset thresholds may also be waived if you are referred through Prepare + Prosper's programs, if a member of your household is deployed, or in certain other limited situations. If think you may qualify, I strongly urge you to look into those services and whether or not they can meet your needs before deciding to hire a financial planner or financial advisor. If you are not in Minnesota you can contact your local chapter of the Financial Planning Association to learn more about pro bono financial planning services in your area.