Frequently Asked Questions
1. What does a financial advisor do?
A Financial Advisor and Certified Exit Planner helps clients navigate the intricate financial life issues for themselves and their families not only for their current and future wealth planning and management needs, but also for business owners that are now looking towards their exit strategy and Legacy Plan for generational wealth management.
2. How are you compensated?
We are compensated under an agreed upon fee based upon assets under management, or a specific commission if implementing an insurance based plan or product. Our compensation is always disclosed and in the client agreement documents.
3. Are you a fiduciary?
We are part of the OneAscent RIA and PKS/FIG Broker Dealer advisory groups which allows us to maintain a fiduciary relationship with our clients.
4. What types of clients do you typically work with?
We work with clients that have sophisticated wealth planning and investment management needs as well as business owners going through the exit planning process, which includes helping asses the stages of exit planning for calculating their wealth gap and then managing this into post exit life for themselves and their families.
5. What is your investment philosophy?
Our investment philosophy covers both short, intermediate and long term tactical and strategic strategies using both fundamental and technical analysis. We also believe protecting in down markets and managing risk is just as important as investing for return. One large drawdown year can make a difference in an investors ability to accomplish their financial goals.
6. What services do you provide beyond investing?
We have over 30 years of experience in the full wealth planning and investment profession, representing MBAs, CEPAs, estate and tax planning, insurance and risk management, income planning and protection and exit planning for business owners.
7. How do you build a financial plan?
The Financial Plan process begins with our “get to know” meetings where we not only take an inventory of your net work (investments, retirement accounts, assets, liabilities, business) but also your “why”. What is important to you, what are your values, what is your family structure, what is the goal of your exit plan. We then communicate with our select team of tax and estate professionals to make sure your plan is integrated with these important issues. We also have the ability to align your values and faith into the planning and portfolio.
8. How often will we communicate or meet?
All clients receive a mandatory annual review. Select clients receive ongoing (monthly, quarterly) planning and/or communication and reviews. This is agreed upon at time of onboarding and depends upon the level of assets being managed and advisory fees.
9. What is your minimum investment or account size?
We don’t concentrate on having minimum investment sizes because wealth management is more than just managing the portfolio. It includes risk management, cash flow, planning, estate and tax conversations, exit planning. We offer planning based services outside of asset management that is negotiated upfront based on what the planning needs are and how sophisticated the plan is.
10. How do you manage risk in my portfolio?
Managing risk in a portfolio is one of our long time niches. We are very experienced with managing risk thru diversification, tactical and strategic rebalancing and over 30 years of real work investing and managing portfolios. We sidestepped the great financial crisis of 2008-2009 and re-entered at the bottom on March 6, 2009. We don’t time the market but we do pay attention to many technical and economic analysis for when to increase or reduce risk in the portfolio. For large custom portfolios we can also use hedges.
11. Can you help with retirement planning?
Yes, We have over 30 years of real world experience in retirement planning for clients of all ages. We have clients that have retired 20-25 years ago still relying on our advice and management to provide lifetime income and wealth planning and into the next generation. We believe in long term relationships that span the generations.
12. Do you work with my other professionals (CPA, attorney)?
Yes, we have a select list of tax and legal professionals and we can also work with your existing team. We also have a team of experts in guaranteed income and insurance.
13. What happens if something happens to me?
We focus on making sure the title ownership of all accounts and beneficiaries are properly designated to that if something happens to you there is already a plan in place so you don’t have to worry about your wishes being fulfilled. We encourage all our clients to participate in our annual Family Legacy Review so that all parties are onboard for what to do if something happens.
14. How do I get started?
If you’d like to speak with us just complete the contact for or email bradsmall@solomonprivatewealth.com – we’ll customize a proprietary wealth plan for you and your family or business.
15. Why should I choose your firm?
I believe our firm separates from others in long term proven relationships built around trust, care, integrity, values, educated experienced professionals with long term history in the industry.