If you are seeking financial advice from someone around Apple Valley, MN
it can be daunting, or even down right scary.
Consider this check list before you decide.
• Look for a FEE ONLY advisor because their compensation is totally based on your interests and not the products that they suggest. A true advisor will disclose all compensation and all conflicts of interest in writing in advance of the engagement. This avoids surprises at the end of a long process when the adviser switches to selling.
• Some advisors simply “gather assets” for others. Eliminate anyone who gets fees from third parties for referrals to attorneys, insurance agents, investment advisors, third party managers or separate account managers. There are plenty of advisors to choose from near Apple Valley, MN.
• There is nothing wrong with being a salesman. However, many salesmen call themselves advisers. Face it, their job is to sell products. Don’t seek advice from a salesman. Eliminate all advisers who are also investment brokers and insurance agents who receive commissions from the products they sell.
• Some investment advisers only work with investments. They typically don’t consider the impact of the unique income and expense requirements, income taxes, insurance policies, wills trusts and the aspects of financial life. Eliminate advisers who use canned financial planning software or use none at all.
• By definition, and adviser is a person who gives advice. Experience, expertise or training is not a requirement to be a financial adviser. Young advisers can learn from a team. Eliminate inexperienced independent advisers.
• A fiduciary is required by law to protect the interest of the client. Brokers, fee based advisers and agents represent the interests of the companies of whose products they sell. Seek out a fiduciary.
• Not all fiduciaries are the same. Some will disclose the conflict of interest created by financial relationships with others. Seek a fiduciary who pledges not to accept income from sources other than from the client.
The team at FFP Wealth Management is a fiduciary who offers comprehensive financial planning and advice to clients after receiving a disclosure form and after a formal engagement. We have offered financial planning and investment since 1990. In addition, FFP will manage investment accounts for clients who seek income and growth from their investments with more stability that the typical stock portfolio or mutual fund. FFP will not accept commssions, referral fees or any form of compensation from products we buy for client or refer to others. It will be clear that we only work for you.
FFP Wealth Management has offices in the Northwest Suburbs and services Apple Valley, MN!
We manage investments - we do not sell investments.
We advise individuals on 401(k) plan choices - we do not sell 401(k) plans.
We forecast cash flow needs - to recommend tax-wise retirement paychecks or other cost saving strategies at any stage of life.
We analyze and recommend solutions for potential tax liabilities at death - we do not file estate tax returns.
We analyze wills and trusts and seek efficient strategies to transfer wealth - we do not draft legal documents.
We manage your trust account or advise your trustee** - and can refer competitive trustee services when a family member trustee is not an option.
If you are looking for assistance in the Apple Valley, MN area call us at 763-231-2760
FFP Wealth Management is a Fee Only Financial Planner and NAPFA Member serving Apple Valley Minnesota
*A registered investment advisor has completed all documentation and disclosure required to register with the Securities Exchange Commission. Registration does not signify any level of skill or training
**The principals of FFP are shareholders of National Advisors Holdings, Inc. (NAH), a Delaware corporation organized in August of 1998. Such persons hold a minority interest, in the aggregate, of the outstanding stock of NAH. NAH has formed a federal trust company known as National Advisors Trust Company (NATCO). NATCO plans to provide trust services to clients of investment advisory firms, such as FFP, across the United States. Clients should be aware that this arrangement provides a conflict of interest and an incentive for FFP to request the use of NATCO due to the theoretical gain that the Principals of FFP may receive through the use of NATCO.
• Individual, TOD Joint and others
• 401k rollover (post or in-service rollover)
• IRA accumulation
• IRA income distribution
• Trust management
• 401k, pensions, company stock and retirement plans