Summary
Join Angela Johnson as she answers 5 Common Questions about Working with Worthen Financial Advisors. She’ll discuss:
- Our experience in the industry,
- The services we provide,
- What it’s like to work with Worthen Financial Advisors,
- Our investment philosophy, and
- The cost of working with us
If you have any questions, please contact us..
Full Transcript
0:01 Hi, my name is Angela Johnson. I’m owner and president of Wortham Financial Advisors, and I’d like to go through the five common questions that we ask about working with our firm.
0:14 Alright, so number one. How long have you been in this industry? I’ve been helping people invest and plan for retirement and other financial goals since 2005.
0:26 How will you help me and my family? That is a great question. Some of the things that we do are tax planning, so multi-year planning to limit your lifetime tax liability.
0:37 Each year, we review your tax return in order to look for planning opportunities, and we send you a report of our findings.
0:45 Investment management, so we act, you know, manage your investments and put them in a portfolio that’s tailored to your goals and risk and time horizon.
0:57 We do insurance planning, so I do not sell any insurance products, but we want to make sure that you your financial plan is protected against something that could be devastating to it.
1:08 So we like to review term life insurance, disability, long-term care, things like that, and make suggestions on what’s needed. We don’t want you to have too much or too little of that insurance.
1:22 Education and retirement planning. So, we stress-test your education and retirement plans to make sure that you’re going to hit your mark.
1:31 And charitable gifting strategies. So, if you’re charitably inclined and you’d like to reduce your taxes. As an extra benefit, we help make that a reality for you.
1:42 The first thing that we do in an onboarding meeting once you become a client is help you establish your values, your goals.
1:52 And your statement of financial purpose. So that’s an exercise that our clients love. We repeat it once a year and just make sure that everything is in alignment and that you understand and can verbalize clearly why you’re deferring currently.
2:09 It’s an important enjoyment in some cases for a future goal. So we get a lot of good feedback on that exercise.
2:18 I also want to answer this question though from the viewpoint of benefits to you. So, on the slide there, you’ll see that there are six core values that a good financial planner provides.
2:32 This is what we hear from our clients. They appreciate the organization and bringing order to their financial life. We help you follow through.
2:41 On the financial commitments that you made by helping you be accountable to those goals objectivity, we bring insights from the outside to help you make sure that the decisions that you want to make aren’t emotional, but they.
2:56 They are grounded in financial principles that will help you meet your goals proactivity. We work with you to anticipate your life transitions and be financially prepared for them education.
3:11 We always lead with education. And make sure you understand why we’re recommending what we are suggesting and then partnership. We want to help you achieve your goals and work with you and not just for you.
3:29 If you achieve your goals, if you participate with us. And so that’s what people really enjoy is having a partner they can trust to ask questions to.
3:39 Alright, what will it be like to work with you? So first of all, once you become a client, you go through the onboarding meeting and that I talked about a little bit with the values, setting goals, creating your statement of financial purpose and we make it very easy, so don’t worry about that
4:01 . But ongoing, we have two meetings a year, spring and fall, and my team and I are always available for unlimited support with your financial questions year-round.
4:13 What is your investment philosophy or invest my money? Great question. I’m not a market timer or a short-term trader.
4:23 I believe the best strategy is a disciplined approach to take advantage of the benefits that accrue to patient investors over time.
4:32 So we invest in portfolios of mutual funds that are evidence-based, low-cost, well-diversified, and tax efficient. We do have some alternatives that we can use when appropriate and separately managed accounts to manage a complicated tax position but overall mutual fund portfolio.
4:56 How much does it cost to work with you? That’s a great question. It depends. As a fee-only advisory firm, we work with people in a few, a few different ways.
5:06 So, first way is we offer wealth management services. That includes both financial planning and investment management. We work with you to design, implement, and monitor your custom financial plan.
5:21 And it’s charged according to the amount of assets we manage, ranging from 0.5% annually to 1.15% annually. The more you have invested with us, the lower the fee is, and this is all on our website under services.
5:36 You can find more information. We also offer financial planning paid monthly. This is designed for people who either are still building their assets and don’t have a ton of money or maybe any money to invest, but they have financial questions and want to get everything in order.
5:57 Budgeting how much to save, just, you know, maybe just getting started starting out. Also, the person who this is a great fit for is someone who works at a company, and they have all of their investment assets in their 401k or their company plans.
6:15 So they still need a lot of help with financial planning. But they don’t have any assets to invest with us.
6:22 So historically, no one has really been able to. So we’ve got $49 and $79 a month plans for that type person.
6:38 We also offer flat Bye! B Financial Plans. This would be some for someone who is a DIY investor. They enjoy investing their money, but they want to make sure that the financial planning aspect of that is sound and that they’ve got a good plan.
6:56 Plan for taxes and retirement and gifting and all of those things that I mentioned. So we do the financial plan one time, $3,000, hand it off, and then that client would be responsible for putting that into action, implementing the plan.
7:19 Alright, for any further questions, please reach out to me at Angela at WorthenAdvisors.com
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