FAQs

Frequently Asked Questions at Sapphire Wealth Advisory Group

What is Wealth Planning?

A wealth planner is someone who uses the wealth planning process to help you determine how to meet your life goals. The key function of a wealth planner is to help people identify their wealth planning needs, their present priorities and the products that are most suitable to meet their needs. He or she normally possesses detailed knowledge of a wide range of wealth planning tools and products, but his primary role is to help clients choose the best products for each need. The planner can take a “big picture” view of your financial situation and make wealth planning recommendations that are right for you.


What is your account minimum?

We don’t have account minimums. You may be a professional growing your life, family, and career with a lot of investable assets in a company retirement plan, or a business owner with assets tied up in the company. There are a number of reasons why a minimum investment may not work for you. That doesn’t mean you shouldn’t have access to professional advice.


Who would not be a good fit for Sapphire Wealth Advisory Group?

If you’re not ready to put some effort into your financial future, we may not be the right fit for you. We work together. Although the first few months are a lot of work on our part (and yours!), it will help us in creating strides in your planning efforts in the long term. We’ll need to have regular communication and progress to set up a path for success.


Can I do my own wealth planning?

Some personal finance software packages, magazines or self-help books can help you do your own wealth planning. However, you may decide to seek help from a professional wealth planner if:

  • You need expertise you don’t possess in certain areas of your finances. For example, a planner can help you evaluate the level of risk in your investment portfolio and revise your asset allocation;
  • You don’t feel you have the time to spare to do your own wealth planning;
  • You recognize that you need insurance to protect yourself and your family, but are unsure of the type or amount you need
  • You know that you need to improve your current financial situation but don’t know where to start;
  • You feel that a professional advisor could help you improve on how you are currently managing your finances;
  • You have an immediate need or unexpected life event such as an inheritance or major illness;
  • You want to get a professional opinion about the financial plan you developed for yourself.

What should I look for in a wealth planner?

A wealth planner works for you. His or her loyalty should be to the client, not the product(s) he or she is trying to sell.


After a plan is developed, what’s next?

The best plan is useless unless it is put into action. Your wealth planner will assist you completely in implementing the plan, if and when you desire.


How often should I update the plan?

It is good to review the plan when there is a lifestyle change such as marriage, birth, death or divorce. Any change in financial position should be evaluated as well. Most people have an annual update that reviews how the plan is being implemented. The review also considers changing goals and circumstances.


What should a wealth plan include?

A wealth plan should include a review of your net worth, goals and objectives, investment portfolio, cash flow, investments, retirement planning, tax planning and insurance needs, as well as a plan for implementing your goals.


Why is there an evaluation of my insurance needs?

Evaluating your insurance needs is part of personal wealth planning. Insurance takes care of your unpredictable needs, and because these needs can arise at any time, insurance is extremely important. Investments take care of your predictable needs and ideally should follow after your unpredictable needs are addressed.


What is Your Investment Philosophy?

We don’t believe anyone can consistently time or “beat” the market. Research has demonstrated time and time again that those who chase returns fare worse over the long run than those who develop a sound investment strategy and impose discipline over their investment decisions.

As such, our investment philosophy is one that believes in creating globally diversified portfolios taking into consideration market research and taking advantage of potential market opportunities.


What Are Your Fees?

Our fees depend on the type of client you are:

  • Investment management clients are charged on a quarterly basis on a percent of assets under management.
  • Our insurance clients do not pay us a fee directly. We are remunerated by the insurance companies we represent in providing the insurance policies to our clients. Since we work with a variety of highly-ranked carriers we get paid the same as to minimize any potential conflict of interest.
  • Wealth planning clients are charged per project depending on the complexity of their needs.

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Questions and Topics we may typically discuss at our first meeting:

  • What would you like to have accomplished at the end of our first meeting?
  • What drove you to want to have this conversation with us?
  • Has something happened in your life that makes you concerned about the future?
  • How have you been planning for retirement?
  • For those who have children, what type of college education plan have you established?
  • Do you feel like the work you have done for your financial future is adequate to sustain the lifestyle in your retirement that you have been accustomed to?
  • What are your most important financial concerns?
  • How do you make important investment and financial decisions?
  • How do you envision your life 1 year from now? 5 years from now?
  • What changes do you expect in the future in your finances that you wish to plan for?
  • Is your outlook generally optimistic or pessimistic concerning the future?
  • What are your most important non-financial concerns and objectives right now?
  • Have you ever worked with a financial advisor before?
  • What would you like to accomplish through wealth planning?
  • Why do you think you need help?