FAQs
What exactly is financial planning?
According to the CFP® Board, Financial Planning is a collaborative process that helps maximize a Client’s potential for meeting life goals through Financial Advice that integrates relevant elements of the Client’s personal and financial circumstances.
What this means to us is a deeper dive into the things that are important to you. It’s much more than just recommending a product and talking on the phone once per year. It’s about having a trusted partner to analyze different aspects of your financial life and showcase a plan that offers greater opportunity for financial prosperity.
What is your investment philosophy?
We believe in a disciplined, low-cost, and globally diversified investment approach. We strive to capture (not beat) market returns over a long periods of time.
We do not engage in stock speculation and attempt to beat the market. We believe in correct asset allocation and location. This means we want to make sure that your investments are in the most tax-efficient vehicles as possible.
Where is my money held?
We use Charles Schwab (https://www.schwab.com) as our custodian and our clients’ assets are held there. As a custodian, Schwab tracks account activity, handles transfers, issues statements, tax forms, provides a platform, and many other things.
We act as your advisor. Making investments, rebalancing accounts, initiating transfers, etc.
Can we work together remotely?
Yes, we work with clients across the U.S. through virtual meetings. Zoom, Google Meet, and Microsoft Teams are our preferred video conference platforms.
We also work with clients throughout the Rocky Mountain Front Range in-person, as needed.
What is Tax Planning?
Tax planning involves strategically analyzing your financial situation or plans to ensure that every component is aligned in a way that minimizes your tax liabilities.
This process includes evaluating aspects such as the timing of when you receive income, determining the amount of income, deciding when to make significant purchases, and planning your expenses.
The goal of tax planning is to optimize your financial activities so that you can lower the amount of taxes you need to pay.
We use various strategies such as Roth conversions, Mega-backdoor Roth contributions, gain & loss harvesting, gifting, and qualified charitable distributions to do this.
What are your qualifications and credentials?
In 2013, I became a licensed financial advisor after passing the FINRA Series 7 and 66 exams.
I also hold Life, Accident and Health insurances licenses in Colorado.
In addition to that, I am a CERTIFIED FINANCIAL PLANNER™ professional. As a CFP® professional, I am bound by a Code of Ethics and Standards of Conduct set by the CFP® Board.
What services do you offer?
Our business is centered around ongoing financial planning, tax planning and investment management.
In addition to that, we also offer hourly-based or project-based financial planning for clients that need one-time help with a financial question.
Click here to read more about our services and fee schedule.
Will you have a fiduciary duty to me?
Yes. As a CFP® professional, I must act as a fiduciary, and therefore, act in the best interests of the Client. I have an obligation to disclose any conflicts of interest that arise and continue to put your interests first.
This may seem like common sense, but not all financial professionals have a fiduciary obligation.
What is your approach to financial planning?
Our financial planning approach is focused on tying together eight different disciplines into one holistic plan that you can follow.
Click here to read more about the comprehensive INSPIRING SMARTER WEALTH™ planning commitment.
What types of clients do you typically work with?
Clients who want a high touch, personalized wealth management experience.
Our clients are financial delegators and want to spend time focusing on the things they truly enjoy.
Our clients are typically either approaching retirement or have already retired. They have been diligent savers and concerned about outliving their assets and/or overpaying taxes as they prepare to make withdrawals.
We also serve clients who expect to be working and saving for many more years. These clients typically want to have the help of a professional alongside of them as they continue towards retirement.
Will you you the only advisor working with me?
In most cases, yes. However, there are times when enlisting an expert in a certain area may be necessary to provide you the level of service that you deserve.
For instance, if you have estate planning needs we have access to a few different estate attorneys that can help. Or perhaps, an extensive tax question may require the use of a CPA. There are also CFP® professionals that specialize in different areas as well. We may rely on them to help with areas that we aren’t necessarily strong in.
How will I pay for your services?
Fees can be paid a couple of different ways. For investment management, fees can be deducted directly from a non-retirement account on a monthly or quarterly basis. Financial planning-only services can be paid through ACH or credit card.
How much do you typically charge?
Fee transparency is important to us. We offer a couple of different ways to work with us. Hourly-fee and project based planning begins at $315 per hour. Financial planning-only engagements begin at $4800 based on complexity.
Click here to read more about our financial planning and wealth management fee schedule.
Do others stand to gain from the financial advice you give me?
No. As a CFP® professional held to the fiduciary standard, all potential conflicts of interests must be disclosed and client consent is obtained. There are situations where we could refer you outside of our business.
For instance, we do not sell insurance policies, but we believe that insurance is an important part of a financial plan. We may refer you to a broker that can purchase a policy, but as a fee-only advisor, we cannot receive commission. We believe this allows us to provide you with unbiased recommendations.
Have you ever been publicly disciplined for an unlawful or unethical actions in your professional career?
No. You can check our background and that of any licensed financial advisor or financial firm at https://brokercheck.finra.org.
Brett Richard Polzin
CRD# 6198165
Eight Peaks Wealth Management
CRD# 327701