Please check out our FAQ below if you have questions about our business.
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To learn more about topic areas that financial planning services may include, visit our page: Common Financial Planning Topic Areas
Most people think all financial planners are “certified,” but this isn’t true. Anyone can use the title “financial planner.” Only those who have fulfilled the certification and renewal requirements of CFP Board can display the CFP® certification trademarks which represent a high level of competency, ethics and professionalism. And because they are held to a fiduciary standard of care when providing financial planning services, a CFP® professional is required to act in your best interest.
Education - Unlike many financial advisors, CFP® professionals must develop their theoretical and practical knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board. Applicants may also satisfy the education requirement by submitting a transcript review or previous financial planning-related course work. Or, they can show that they have attained certain professional designations or academic degrees that cover the important subjects in CFP Board’s financial planning curriculum.
Examination - CFP® professionals must pass the comprehensive CFP® Certification Exam, which tests their abilities to apply financial planning knowledge to real-life situations. The exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance. This comprehensive exam ensures that a CFP® professional is highly qualified to develop a plan for your finances.
Experience - CFP® professionals complete several years of experience related to delivering financial planning services to clients prior to earning the right to use the CFP® certification trademarks. This hands-on experience guarantees that CFP® professionals have practical financial planning knowledge, so you can count on them to help you create a realistic financial plan that fits your individual needs.
Ethics - When it comes to ethics and professional responsibility, CFP® professionals are held to the highest of standards, as outlined in CFP Board's Standards of Professional Conduct. They are obliged to uphold the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence as outlined in CFP Board’s Code of Ethics. The Rules of Conduct require CFP® professionals to put your interests ahead of their own at all times and to provide their financial planning services as a “fiduciary”—acting in the best interest of their financial planning clients. CFP® professionals are subject to CFP Board sanctions if they violate these standards.
Believe it or not, some financial advisors are only required to provide "suitable" products/solutions to their clients. To put this into perspective, imagine two financial products that provide the exact same benefit to the client. However, one of those products costs more and provides a higher commission for the advisor who recommends it. An advisor who has not sworn the fiduciary oath can push the product that gives him/her the highest commission, which ultimately costs the client more money out of their pocket. This is an example of an advisor putting the needs of himself/herself before the needs of the client, and not doing what is ultimately in the best interest for the client.
We at One Day Advice have sworn the fiduciary oath. Therefore, we are legally responsible to put our client's interests ahead of our own.
One Day LLC does not hold custody over our clients assets. We utilize an independent relationships with Charles Schwab, TD Ameritrade Institutional, and Altruist Corp. to hold your assets. They are some of the largest and most respected firms in the industry, provide fraud protection, and provide FDIC and SIPC insurance.
We actually have access to the same investment solutions that high net-worth advisory firms have access to and utilize for their client portfolios. In addition to our investment solutions, we at One Day Advice believe in the power of leveraging technology. You might even call us passionate tech nerds! We have done extensive research and have chosen technology that helps us serve our clients more efficiently and effectively, with less overhead. Here are some ways we reduce costs:
- We are virtual: we meet with most of our clients through video-conference calls and in-person meetings may take place in coffee shops or the client's home upon request. By doing this, we don't have to pay for an expensive office space with marble entrances. We'd rather pass these cost-savings to you.
- We use the latest in technology in all areas of our business. This enhances our ability to automate certain processes that other firms hire for and ultimately enables us to spend more time with our clients AND provide them an enhanced service.
- We are client-focused: If there is an opportunity to save our clients money while enhancing or maintaining the client experience, we will do it. That's why we have chosen to pass the cost-savings on to our clients. It's OUR investment in the long-term success of our clients.
No.
Most of our clients work full-time during the week. The last thing they would feel like taking PTO for is to fight traffic and find parking to meet with their financial planner. That's why we have implemented a virtual practice. While we meet with most of our clients through video-conference calls, we do meet with clients in-person on an as needed basis.
We are a "fee-only" financial planning firm which means our only form of compensation is through the fees listed on our website. We believe in transparency!
We do not accept commissions, kick-backs, "trails", or other fees that are not listed under our fee schedule (Check out our Pricing).It's important to not confuse "fee-only" with "fee-based"! Read our quick article on this topic here.