| 1. What is fee-only financial planning?
Fee-only means compensation is solely from the fees paid by clients. There are no commissions or third-party influences regarding the planning process and/or recommendations. SPFA is an independent fee-only investment advisory and financial planning firm. We are not employed by any financial institutions, nor do we sell any products for commissions. Our compensation structure allows us to avoid conflicts of interests and provide objective advice with your individual needs in mind at all time.
Return to top
2. What is a CERTIFIED FINANCIAL PLANNER™ (CFP®) and how does the designation differ from others?
Anyone can call himself a financial planner, but only those who have met the education, examination, experience, and ethics requirements established by the CFP Board of Board of Standards can be awarded the Certified Financial Planner™ mark (www.cfp.net/become/Steps.asp). The CFP® mark is recognized globally as a symbol of the highest standard in financial planning. A CFP® practitioner distinguishes himself from other professionals in the industry via superior knowledge, experience, competence, expertise, and ethics standards.
Return to top
3. What ethical standards does SPFA follow?
SPFA adheres to the Code of Ethics and Professional Responsibility, established by the CFP Board of Standards, as guidance for the performance of our professional services (www.cfp.net/certificants/conduct.asp). We strive to provide quality service with integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence.
Return to top
4. Will the information I provide to SPFA be kept confidential?
Your privacy is extremely important to us. All personal information provided to SPFA is strictly confidential, as we are committed to safeguarding your privacy. Therefore, we will not disclose personal information to any third parties unless it is required by law, at your direction, or necessary in order to provide you with our services. We meticulously protect the personal information of all our clients, including those who are no longer active clients of SPFA.
Return to top
5. How does SPFA manage my investment accounts?
We manage your accounts by asking you to give SPFA trading authorizations, which allows us to make trades on your behalf, in a timely manner, without having to contact you each time an adjustment is made. SPFA monitors and repositions your accounts to keep your portfolios aligned with your objectives and the prevailing economic climate. SPFA is not the custodian of your accounts. All your cash and securities are held at TD Ameritrade Institutional, a division of TD Ameritrade, Inc.
Return to top
6. How often do you meet your clients?
SPFA is committed to providing you the best client service. We maintain a close relationship with you through effective, two-way communication, including face-to-face meetings, phone conversation, emails, newsletters, financial statements, and Web messages. We recommend that you meet with us frequently at the beginning of our relationship, and at least twice a year going forward. Account reviews are conducted on a regular basis and vary from client to client, depending on needs, circumstances, and wishes. As a family financial advisor, we encourage you to keep us apprised of your life progress and changes in your personal situations, because the more we get to know you and your family, the more solutions we can provide.
Return to top
7. How does SPFA charge for the service offered?
SPFA offers a competitive fee structure for services rendered, either an hourly rate or a fixed fee for financial planning. The fees for ongoing investment and wealth management services are determined by a percentage of your assets under management. All fees are fully disclosed prior to working with us and no services will be performed until you understand and agree to the fees being charged.
Return to top
8. Are the fees tax-deductible?
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 income tax return.
Return to top
9. Who benefits from the services of SPFA?
SPFA provides investment management and comprehensive financial planning to families, professionals, retirees, business executives and owners. We offer our services to people who do not have the time, interest, or knowledge to manage their financial affairs, but value independent and objective financial advice. We develop long-term relationships with our clients based on a foundation of trust. As the economy becomes more global, SPFA is well positioned to serve the needs of many, including business executives in Asia desiring global diversification and Asian Americans returning to their home countries for business development. With an understanding of the culture and values appreciated by the Asian community, we are honored to work with people across the Pacific Ocean.
Return to top
10. I’m a self-directed investor, but I need professional advice occasionally. How can SPFA help me?
SPFA is prepared to work with complex financial planning situations to help you achieve personal financial objectives. We specialize in taking an integrated approach to financial planning and asset management and have the ability to serve self-directed investors who seek second opinions or want to fine-tune a plan. SPFA charges an hourly fee to provide in-depth plans tailored to address your needs. However, we do not take responsibility in implementing and monitoring the plans for self-directed investors.
Return to top
11. How do I start to work with SPFA?
To begin, please click “Contact Us” tab on the navigation menu and fill in the request form, or call us for our initial consultation. At the initial meeting, we will discuss with you your goals, concerns, and current financial status. SPFA will answer all your questions and assess the suitability of our relationship. If together we determine our services to be of value, we will then define the scope of engagement and fees anticipated during our work with you. Once agreed upon, we will assist you in achieving all your specific objectives.
Return to top |