FAQs
Is Presper Financial Architects a fiduciary financial advisor?
Yes, and as a Fiduciary we are legally – and ethically – committed to act in your best interest at all times
How does Presper Financial Architects get paid?
We are Fee based, not commission salespeople. We have simple fee only schedules for Financial Planning and Investment Management.
Do I need a financial advisor?
We think we bring tremendous value, confidence, and peace of mind to your financial journey. But don’t take our word for it – Vanguard published an in-depth report in July 2022 that suggests a holistic advisor (like us) can enhance returns by 3%+. [1]
[1]: Putting a value on your value: Quantifying Vanguard Advisor’s Alpha by Francis M. Kinniry Jr, CFA; Colleen M. Jaconetti, CPA, CFP®; Michael A. DiJoseph, CFA; David J. Walker, CFA; Marcia C. Queen
How to choose a financial advisor?
There are four key factors:
1: What is their reputation, essentially can I trust them?
How do we stack up: Integrity is one of our core values, we are committed to be honest and transparent with our clients and our community.
2: What is their experience and professional credentials?
How do we stack up: We feel its important to work with an advisor who is a Certified Financial Planner (CFP). Dan and Wayne are both CFP’s and have about 10 years of experience in the industry. In Tom’s case, he carried the CFP designation for many years but recently decided to drop the credential because he hated paying the renewal fees and at this point his 45+ years of experience speaks for itself.
3: Do they listen and communicate clearly?
How do we stack up: Listening is another core value. We want to be sure we know you well and you feel heard. We also stay in contact by periodically sending emails/posting social media updates. We typically meet to review your investments/financial plan once or twice a year depending on your needs. We are never more than a phone call or email away and stick to a strict 1 business day response rule.
4: Is there depth on the Team so they are available when I need them?
How do we stack up: With several advisors and supporting team members we have great depth and we cross-train our team to ensure seamless service — even if someone’s unexpectedly out of the office.
When should I start working with a financial advisor?
The sooner, the better. People often seek financial advice during major life events — like divorce, inheritance, or retirement — but engaging earlier can lead to better outcomes. A holistic advisor can help you make smart decisions every step of the way.
What are the credentials that matter most when selecting a financial advisor?
Credentials like CFP®, CLU®, ChFC®, and CFA® show technical expertise. But don’t overlook experience. Somebody like Tom brings 45+ years of work experience in financial services, but possibly even more important is the life experience he brings that he feels has made him a better planner through the years. Dan and Wayne have been fortunate to hear Tom talk about these life experiences, and it’s made them more aware of how to best plan for some of the unexpected events in life.
What services does Presper Financial Architects offer?
We provide comprehensive financial planning services. It starts with getting to know you, building a financial/retirement plan projection, focusing on debts, retirement savings, investments, tax management, estate planning, and insurance. We listen to your fears, goals and dreams and share strategies to keep you on track. We typically meet with clients 1–2 times a year depending on complexity, and provide ongoing support including investment reviews, tax strategies, estate planning, and direct indexing. We’re especially helpful in guiding smooth wealth transitions to beneficiaries.
*for more information click here to visit our services pages.
How do I know if I am on track for retirement?
Everyone’s retirement needs are different. That’s why we start with a financial/retirement plan projection to very clearly show if you are on a good path. From there we share strategies to improve your trajectory, — and for many clients, we provide the confidence to enjoy spending their savings without worry.
What do I do with a 401k after I’ve left a company?
You can leave it with the employer plan, roll it over to an IRA that you manage, or roll it over to a professional investment manager like us. We think it is best to explore the positive and negatives of each option and make a decision that works for you. We’ll help you weigh the pros and cons of working with a professional investment manager. Benefits of working with us include easier withdrawals, guided transitions to beneficiaries, holistic tax planning, peace of mind that someone else is watching (so you can enjoy your life without worrying if the market is dropping), and personalized advice. The main trade-off is a slightly higher fee than employer plans.
How can I reduce my taxes in retirement?
We are currently in a very low historical tax environment, so it may make sense to pay some taxes today to save them in the future for you or your beneficiaries. We explore strategic withdrawals, Roth conversions and gifting to maximize your asset growth and minimize income taxes; and we are happy to work along with your CPA for the best outcome.
Will a financial advisor tell me I can’t spend money on fun things like eating out, trips, and a morning cup of coffee?
If spending needs to be reduced, we’ll say so — but more often, we get to encourage our clients to spend more! We take a conservative approach to planning so you can feel confident even with life’s surprises. We believe making memories is one of the best uses of money, and we love helping clients take that bucket list trip or enjoy a family vacation.
What happens if I retire before Medicare starts?
We help you plan for healthcare coverage during the gap years, including COBRA, ACA plans, and budgeting for premiums and out-of-pocket costs.
Can you help me decide when to take Social Security?
Absolutely. Timing your Social Security benefits can have a big impact on your retirement income. We’ll help you evaluate your options based on your financial plan and life goals.
What if I want to work part-time in retirement?
Many clients choose to work part-time or consult. We’ll help you understand how that income affects your taxes, retirement withdrawals, and overall plan.