What is NAPFA?
The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors—highly trained professionals who are committed to working in the best interests of those they serve. NAPFA membership requires:
- strict adherence to a fee-only standard; that is NAPFA members cannot accept compensation in any form from any source other than their clients
- the fiduciary relationship requires that members always put their clients' interests before their own and that they disclose any potential conflict of interest prior to the client making a decision
- prior to granting membership a peer review of the candidate's work output is performed
- peer review ensures that a NAPFA member has the ability to provide comprehensive financial planning across a wide range of potential client needs- investments, taxes, estate planning, college savings, insurance, long-term care insurance, retirement spending, and more
- all new members since 2012 must have the CFP designation
- continuing education of 60 credit hours required every two years
Do you really need a financial advisor?
If you are running a successful business, considering the uncertainties of retirement, going through a difficult financial transition, uncertain about the practicality of your life plans, or in need of experienced counsel, or you simply want to spend your time doing something else, you should consider a comprehensive financial advisor. Professional advisors can offer a wealth of experience, contribute technical knowledge and add significant value.
Does an Investment Advisor Representative (IAR) have a fiduciary responsibility?
A Registered Investment Advisory (RIA) is a firm that is licensed to offer investment advisory services. An Investment Advisor Representative (IAR) is a professional who works for a RIA, has passed the necessary test and has a fiduciary responsibility to you.
- As a fiduciary, your interests will be placed before those of MFFM.
- We act in good faith when handling your account.
- We disclose conflicts of interest that my impact you.
- We do not receive any compensation from any third party in connection with providing investment advice to you nor do we compensate any individual or firm for client referrals.
Why should you choose a fee-only advisor?
Choosing an advisor is a very personal decision that may come with some uncertainty. What we offer is financial advice about how to solve life issues, but what our clients get is peace of mind that comes from working with advisors that they trust who will put their needs first. As fee-only advisors, we do not sell or receive compensation from recommending specific investments or insurance. Our success depends on the quality of our advice and the satisfaction of our clients.
What is the advantage of working with a firm like MFFM?
We use a team approach at MFFM. The principals of MFFM will coordinate and monitor the services (investments, estate planning and tax planning) we provide you with the other professionals in your financial life.
What is difference between a RIA and a traditional stock broker?
Registered Investment Advisors are governed by either the Securities Exchange Commission or by a state. Stock Brokers are registered with National Association of Securities Dealers. Unlike traditional stockbrokers, MFFM does not charge any commissions. MFFM deducts a percentage fee at the end of each quarter for management fees. Therefore, both advisor and client work toward the same goal of growing the value of the account. As a result, MFFM is not limited to proprietary offerings and our clients receive unbiased investment advice.
How is my account billed?
Clients accounts are charged at the end of each quarter. The management fee is directly proportional to the amount of assets that MFFM manages. You will receive a statement showing exactly how your fee was calculated.
Who makes the investment decisions regarding my portfolio?
Investment decisions are carefully reviewed by our investment committee. This committee is comprised of the principals of MFFM. This team approach provides a system of checks and balances, a forum for information exchange, and seamless transitions in the event of any administrative changes. The committee also allows for multiple investment and market opinions and limits unnecessary vulnerability often associated with a single manager approach.
How often will I receive statements?
Clients performance reports from MFFM will be posted to their Client Portal every month and a Realized Gains and Losses report at year's end will be accessible on the Client Portal, as well. In addition, the custodian will send you monthly statements or they can be accessed on the Client Portal. If requested, statements can be mailed to the address on file. Trade confirmations will be posted to Client Portals upon settlement day (usually three business days).
How do I get online access to my accounts?
A link to the custodian is located on our homepage for your convenience. When prompted, simply enter your User ID and Password provided by our office. You will be able to view all transactions, positions and balances of all your accounts on either and individual or consolidated basis, should you have multiple accounts. In addition, you will have access to research tools, online account statements and year-end tax statements. If you need your user ID or password reset, please contact us by either calling our office at 561-252-7778 / 904-805-0207 or sending us an e-mail us at email@example.com.
How do I deposit money into my account?
When making check deposits into your account, the easiest way to is mobile deposit through the Schwab Alliance app. You can also send a check made payable to Charles Schwab & Co., Inc. and reference your account number in the memo section. We can also set up recurring ACH deposits into your account, talk to your advisor to set this up.
How do I make withdrawals from my account(s)?
There are different methods for withdrawing funds among the different types of accounts. For IRA withdrawals, a signed IRA Distribution Form must be signed and submitted to our office. When withdrawing from a taxable account, requests must be in writing and signed by all account holders. It is important to reference the bank name, account name, account number, routing number, bank address and bank phone number. Automatic periodic payments can also be set up using the Money Transfer Plan . Please note that all wire transfers take one business day to process granted that funds are available in your money market and your request is received prior to 9 A.M. Pacific Time. You may also use your debit card and or checks to make withdrawals and or purchases.