Frequently Asked Questions
What are your fees?
Frankly Finances charges an hourly fee for financial planning and investment advising or a flat annual fee (paid quarterly). We do not charge based on your level of assets, as that is not a good metric for complexity or planning needs. As a fee-only investment advisor, Frankly Finances does not receive ANY compensation from third parties based on planning or investment recommendations.
You will also know your fee BEFORE entering an engagement and, as such, will never be surprised by a bill.
Do I need to transfer accounts to Frankly Finances to work with an advisor?
Nope. Our goal is to assist you with your money where it already is and as long as you need our assistance.
Are you a fiduciary?
Yes! As such, Frankly Finances put the needs of our clients before our own.
Who are your typical clients?
Our clients fit into three distinct buckets:
• Young professionals with above average earnings navigating decisions around NSO/RSUs, family planning, estate planning, and charting a course as they enter their peak earning years.
• Financially sophisticated families looking to measure the effectiveness of their current financial advisory relationship and questioning whether paying fees based on assets under management (AUM) is in their best interest.
• Families that have accumulated significant wealth and are looking for an outsourced Chief Investment Officer to monitor existing advisory relationships, strategize on investment allocation, multi-generational wealth transfers strategies, and ensuring alignment of wealth and purpose across generations.
What is your investment philosophy?
Our investment philosophy is best summarized as follows:
• You cannot control financial markets, but you can control the fees you pay to access financial markets. As such, keeping overall fees and expenses low is the best path to reaching your goals. This includes keeping tax costs low.
• Predicting the future is futile. No one knows what company, country, or commodity will win every year. The solution – buy a little of everything at a low cost using diversified ETFs/mutual funds.
• Keep it simple. A simple plan you can stick with is MUCH better than a complex plan without sticking power. A well-diversified portfolio needs no more than a handful of investments to meet your goals.
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