How do I get started, and what is the process?
Moneywatch Advisors offers a complimentary consultation for all prospective clients to learn more about our firm and how we can help you define and reach your financial goals.
An important part of the process in becoming a client of Moneywatch is the development of your own customized financial plan. As part of that process we will examine the retirement plan options available to you through your employer and your current investments and construct a portfolio that supports your individual plan. We will manage your portfolio and rebalance it quarterly to ensure we are following the path to your financial goals. We encourage our clients to meet with us quarterly to review their portfolios and keep up to date with their progress as well as keep us up to date on their personal and professional lives.
As life winds through its inevitable curves and hills, we will adjust your financial plan – and your portfolio – when those new circumstances warrant. Expecting a child? Let’s plan for a college education. Change jobs? Let’s examine your new employer’s retirement plan options and possibly rollover the retirement plan assets from your former employer. Lose a parent? Let’s plan on how to best invest an inheritance or take care of the remaining parent.
What is a Financial Plan?
After our initial meeting, we will gather data from you to create a comprehensive financial plan specific to you and your individual circumstances and needs. Your plan will begin with a current statement of cash flows (your current income and expenses) – as well as your personal balance sheet (your assets and liabilities). These allow us to prepare a plan for you that will guide you to your goals, usually retirement and beyond, and ensure you will be able to continue your current standard of living in retirement.
Each client’s situation is unique, which is why we take a completely customized approach to your financial plan. Depending on your situation, your plan may include more in-depth examination in the areas of cash flow management, retirement planning, income tax planning, estate planning or risk management.
What is your Investment Philosophy?
At Moneywatch Advisors we believe goals-based investing is the best way to help you achieve your goals. We will manage your investment assets, guided by your financial plan, and invest appropriately for you. We will balance growth objectives with downside protection for when the market declines while structuring your portfolio in a tax-efficient manner. We will achieve this balance by diversifying your portfolio and allocating your assets in a way that is appropriate for your long-term goals. Decisions are often clouded by extreme fear or overconfidence in the markets. Our goals-based approach helps mitigate emotional decisions caused by market volatility.
What is a Fee-Only Financial Planner?
Moneywatch Advisors was created in 1980 as one of the first fee-only financial advising firms in the country. It was our belief then, and now, that clients should understand how their advisor is being compensated and by whom. As a client of Moneywatch Advisors our only compensation is from you, our client. We never receive commissions or selling incentives from another party for pushing their products. In fact, we are your fiduciary – providing advice that is always and only in your best interest.
Our fee schedule is 1% of investment assets under management, billed each quarter at .25%. In many cases, the fee can be paid directly from the client’s investment accounts. We believe this structure aligns our interests with yours.
Where will my assets be held?
If you have investment assets in addition to an employer-sponsored retirement plan, we will open the appropriate Schwab accounts for you in YOUR name. You will always have access and control of your assets. Moneywatch Advisors will have a Limited Power of Attorney on the accounts that only allow for trades to be executed in them.