Frequently Asked Questions

Financial planning involves setting goals, evaluating resources, and creating strategies for financial success. It encompasses budgeting, saving, investing, retirement planning, tax planning, and risk management. Financial planning is vital for goal achievement, financial security, wealth building, risk management, and peace of mind.

AUM means your financial advisor manages your assets, such as investments, and charges a fee based on a percentage of the total value of those assets.  AUM charges based on the amount of money you have, not the amount of expertise provided.  My take: Advising on $2 million vs $1 million doesn’t double the work. So it shouldn’t be double the cost.

Fee-based and fee-only models are not the same. Fee-based advisors can receive commissions or other compensation from financial products they recommend and upsell to clients. This means that the advisor may have a financial incentive to recommend certain products. My take: I won’t sell you what you don’t need. Getting you to financial freedom is my only goal when making suggestions.

Yes – As a CFP and fee-only independent Registered Investment Advisor, I am held to the Fiduciary standard of care. This means that I am both ethically and legally obligated to act in your best interest when providing personal financial advice. Plus, it’s a good business practice as I need clients to succeed so they will refer me to other potential clients!

My clients are individual, families and business owners at all stages of their lives.  We have no account minimums.  We welcome anyone looking for financial help.

Absolutely. Blue Coast Financial Planning serves clients across the United States and the vast majority of our work is done virtually.

There are several reasons why someone might choose to work with a flat fee-only financial planner:

• Transparency and Predictability: Flat fee-only financial planners provide transparency and predictability in their pricing, allowing clients to know exactly what they are paying for the services they receive. This can help clients avoid any potential conflicts of interest that may arise with commission-based models.
• Customized Financial Planning: Flat fee-only financial planners typically provide a comprehensive approach to financial planning, taking into account a client’s entire financial situation and developing a customized plan that aligns with their goals and objectives.
• Cost-Effective: For those with lower investment amounts, a flat fee-only financial planner may be a more cost-effective option than a percentage-based model, as the minimum investment amount for percentage-based models can often be quite high.
• No Conflicts of Interest: Flat fee-only financial planners do not earn commissions or compensation from the sale of financial products, which means they are not incentivized to recommend certain products or services that may not be in a client’s best interest. Since we are also not compensated by assets under management, we are not biased towards investments we manage and are open to ideas such as real estate.
• Fiduciary Responsibility: Flat fee-only financial planners are held to a fiduciary standard, which means they are legally obligated to act in their clients’ best interests. This can provide clients with peace of mind that their financial planner is always working in their best interest.