Frequently Asked Questions
Tony Robbins (life coach, entrepreneur, and author of MONEY: Master the Game) has seven questions you must ask a Financial Adviser you're considering working with.
To save you the effort of asking, I've answered them for you here. Tony's main concerns are with accounts being charged based on commission, and the advisor looking to make lots of sales (instead of working in the clients' best interest). The majority of my clients work in the advisor single fee system, which allows me to focus on serving their needs.
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I am a Registered Representative and Investment Advisory Representative of LPL Financial, a Broker/Dealer and Registered Investment Advisor. This means I can offer commission or fee based services, depending on what is more suitable to you.
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For more information about LPL Financial, visit www.lpl.com
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LPL is an independent broker/dealer and does not offer proprietary products.
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The advisor does receive some compensation, such as 12(b)1 fees. Please refer to the following disclosure.
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To me, investing is all about the client: their family and their business. I work very closely with my clients — probably more so than many other financial advisors. I like to get to know what is going on in their lives to help them plan for the future. If they are a family, then it helps me to know that the kids will need college funds, a second home purchase is on the horizon, or they're going through job loss and need to finance short-term living expenses in the smartest possible way. Some clients have ongoing medical issues for themselves or their children. We work together to plan their financial future, and that includes everyone. I will meet with the parents separately or together; I will meet with kids and provide them with financial education appropriate for their age group. As for the actual investments: the risk and reward must match their ultimate goal for the use of this money, whether that is short- or long-term.
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I offer a holistic approach to financial needs including life insurance and financial education. I also have access to tax advisors and Trust lawyers who specialize in all different aspects of my clients' financial life. I am not a jack of all trades who gives a little tax advice here, a little business advice there, and does a little estate planning on the side. I prefer to form a team of specialists I can go to depending on my clients' needs.
You are under no obligation to use the services of any of the entities referred, and may choose any qualified professional to provide tax, CPA, legal, or trust services. These entities and their services are not affiliated with LPL Financial and David Wharram -
I am not Bernie Madoff, so you would never write me a check. Your funds are held in a custodial account at LPL Financial alongside $1 trillion of other custodial accounts. As a custodian, LPL Financial provides a platform for you to access the financial markets, but keeps you in control.