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1. What is meant by fee-only planning? |
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| We do not sell investment products; therefore,
we do not receive commissions from the sale of investment products.
As a fee-only financial planning service, conflicts of interest resulting
from the sale of financial products are removed. We represent you
and you alone. |
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2. What is financial planning? |
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Done right, financial planning is a process that
helps you figure out where you are financially today and where you
want to be in the future, and then helps you determine the best way
to get there.
Our process involves an initial in-depth review of a client's current
financial situation and then the creation of a blueprint on how to
achieve future goals and objectives.
Cooke Financial Planning adheres to the philosophy that the financial-planning
process has seven distinct steps. Click here to check out our 7
Steps to Financial Success for more detail on this unique process. |
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3. Are you held to a fiduciary standard? |
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Yes. As a Registered Investment Advisor, I am
bound to the standards of a fiduciary and must therefore legally and
ethically put the needs of my clients above my own. |
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4. Have you ever been disciplined or terminated
for any unlawful or unethical actions in your professional career?
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No. |
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5. Who can benefit most from your services? |
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Any individual seeking financial peace of mind
can benefit from our services. We serve people at all income levels,
from all walks of life. Clients have the flexibility to work with
us on either a one-time, as-needed basis or an ongoing basis. We welcome
clients who simply need a one-time financial consultation or a second
opinion, as well as those who need comprehensive financial planning
and possible ongoing asset management services.
In addition, any corporation or organization seeking quality, unbiased
financial education for their employees or members can benefit from
our financial education programs |
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6. Do your clients have to meet any asset or fee
minimums before you will work with them? |
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No. We believe that everyone has the right to
competent, professional advice regardless of their income, net worth,
or investable assets. |
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7. What if I want or need to buy investment or
insurance products? How do I do that? |
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Cooke Financial Planning doesn’t sell products,
only their time and expertise. They do offer specific recommendations
and opinions on various products and services that may be appropriate
for a client's situation, and in turn can advise a client where to
obtain those products or services. If appropriate and at the client's
request, we can help with plan implementation. |
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8. Do you provide just comprehensive financial
planning? |
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No. Although a comprehensive financial plan yields
the greatest benefits, we also can limit their services to individual,
specific needs like cash management and budgeting, investment analysis,
college funding, etc. - whatever is critical to you right now.
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9. I already work with a financial advisor and
just want a second opinion. Can you do that? |
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Yes. We are happy to provide a second opinion
on any financial planning or advice that you have received in the
past. |
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10. I'm in charge of the retirement plans and employee
benefits at my company and would like to get more employees to participate.
How can you help us? |
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Education is key in increasing employee participation
and appreciation. Cooke Financial Planning can tailor a program for
a company's employees to help them understand the benefits of various
programs. |
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11. Can you help me with any kind of securities? |
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Yes. We provide advice on all types of securities,
including mutual funds, stocks, stock options, bonds, bank deposits,
and variable and fixed annuities. We also provide advice on mortgages,
budgeting and cash flow issues, 401(k), 403(b) and other retirement
programs, life and disability insurance, and more.
If it has to do with money and finances, Cooke Financial Planning
can provide counseling, guidance and resources. Our slogan is, "Financial
Planning and Advice for Everyday Life," and we mean it. Whatever
advice you need, whenever you need it, we can help. |
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12. If I use Cooke Financial Planning, Inc. to
develop a financial plan, am I obligated to purchase the recommended
products? |
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No. We will offer recommendations, which in our
professional opinion will meet your needs and objectives, but you
are under no obligation to purchase them.
In today’s competitive market, it makes sense to shop around
for the best available product or service. For instance, if you need
to obtain a life insurance or disability policy, we will suggest the
kind of policy, which riders and what amounts may be best for you.
We will then direct you to a choice of companies that can provide
a quality product at competitive prices for you. If you wish, we can
help you purchase investments and/or set up your accounts with a third-party
custodian such as a discount broker. |
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13. What is the Cooke Financial Planning investment
philosophy? |
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We believe in the following fundamental principles
when it comes to designing an investment portfolio and making specific
recommendations:
- The purpose of a client's investment portfolio is to fund current
and/or future financial objectives.
- The design of the portfolio must take into account the client's
financial objectives, tolerance for risk, needs for current income
or liquidity, and special considerations such as income and estate
taxes.
- The appropriate allocation of investment assets for your goals
and risk tolerance is the most important component in developing
an investment portfolio.
- Investments selected within each asset class should be based
on modern portfolio theory, utilizing passive management techniques,
which have the benefit of minimizing unnecessary transaction costs,
overall portfolio fees, and taxation.
- We believe that a diversified, well-balanced portfolio, combined
with long-term buy-and-hold strategies, affordability and patience,
increases the likelihood that one will achieve his or her long-term
financial objectives.
The important thing to remember is that no one can predict the future.
Investment and economic "experts" provided with the same
information often come to different conclusions. We do not suggest
that we, or that any of the money or mutual fund managers that we
may recommend, will make the correct decision every time. We do believe,
however, that studying the historic trends and relationships of investment
classes and the philosophies and approaches of successful investment
managers can provide valuable insight. |
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14. How do you price your financial planning services?
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We are a Fee-Only firm and do not receive any
commissions or sales charges. Financial planning fees are usually
based on an hourly rate, although flat fees and retainers may be used
for some projects. Fees for ongoing asset management are billed based
on the amount of assets that we supervise for a client. |
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15. Can I have it in writing? |
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Yes. All of our clients receive a written agreement
that clearly states, among other things, the services that we will
be providing and the corresponding fees.
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16. Are your fees tax deductible? |
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Yes. Section 212 of the Internal Revenue Code
permits an itemized deduction for tax and/or investment advice in
the miscellaneous section of Schedule A. It is subject to a 2% floor
of the adjusted gross income on a personal tax return. |
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17. How do I get started? |
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Call (215) 740-1895 or email Info@CookeFP.com
to schedule a free Get Acquainted Meeting. During the meeting we will
discuss our services, determine your immediate financial planning
needs, provide a firm estimate of the charges involved, the data needed,
and when the work will be completed. |
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