Frequently Asked Questions
Does Fearless Financial only serve women?
What do you mean by FEARLESS?
Fearless Financial Planning is not about having no fear. It’s more like the theme in Susan Jeffers’ book, Feel the Fear and Do It Anyway. Planning involves uncertainty, investing involves risk, and a lot of financial planning involves thinking and talking about things that can make us uncomfortable – like our own mortality. What makes financial planning fearless to us? Showing up and doing it!
Being fearless definitely isn’t being reckless. It’s having the courage to face the difficult stuff in your financial world: debt, estate planning, philanthropy, entrepreneurship, long-desired travel, leaving a legacy, etc. Most of all, being fearless is about achieving your greatest desires in life before you leave this Earth, without being overly worried about financial constraints. It’s about bravely deciding what’s most important to you and then having the courage to go for it with the right financial plan!
What does Advice-Only mean?
- Commissions (also referred to as sales-related compensation)
Commission-based advisors get paid to sell you a financial product (like an insurance policy, investment product, or annuity). While many high-integrity advisors sell clients products they truly need and want, the commission structure can create an opportunity for misaligned incentives between the client and the advisor. In the wrong hands, that kind of model can quickly become ruthlessly transactional (think coffee is for closers…) That’s not how we roll.
A Fee-Only Advisor is defined by the National Association of Personal Financial Advisors (NAPFA) as compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.
Fees can be calculated in a variety of ways such as annual, hourly, or flat fee. The most typical fee structure is to charge clients a percentage of their Assets Under Management (the AUM Model).
Some advisors are Fee-Based, which actually means they receive both fees AND commissions.
Fearless Financial is part of a small but growing group of Fee-Only advisors who choose to provide <style=”font-weight:800;color:#005A70;”>Advice-Only. We believe Advice-Only is a great model because it allows us to:
- give thoughtful, holistic, unbiased recommendations regardless of the amount you invest or where you invest it
- meet clients where they are and provide as much or as little guidance as you need
- help you find that sweet spot where you feel empowered to manage your own investments, but also have a trusted advisor on call as an accountability partner, or when life throws you one of its inevitable curveballs
Do you manage investments too?
Can I just schedule something small...like a meeting...or two?
Yes! Although we love building long-term relationships and find that clients typically receive the best value from an engagement of several months and several meetings, we are also available for consultation by the hour.
Do I have to use certain financial products if I come to Fearless Financial?
Absolutely not! We look at your current investments and guide you on how to best use the resources you have in place and/or those at your preferred providers to help you achieve your financial goals. Our general philosophy is that most clients are well-served using low-cost index funds for the majority of their investments, but we analyze each client individually to help you build a portfolio that aligns with your goals and values. We can make general recommendations, advise on asset allocation, equity compensation, and risk tolerance. We receive no incentives or kickbacks for recommending a particular software product, website, or financial institution. You will always get our best effort at straightforward, objective advice.
How can I help my young adult manage their money better?
Fearless Financial offers a special program for young graduates and adults, designed to be gifted from their parents, grandparents, or other loved ones (or invested in by savvy new grads themselves). It offers a block of time and meetings with us to give the young adult a preliminary financial plan to help them with student debt, first major purchases, etc.
How can I get my very young children to be more interested in investing?
This is a subject near and dear to the heart of our founder, Amy Rosenow. She has a video series for children about learning to invest.