What is included in a comprehensive financial plan?
Sapphire Wealth Planning will analyze changes on a quarterly basis in net worth, cash flow, investments, income tax projection and the probability of success in meeting your definition of financial independence.
Additionally, a complete annual review of your estate plan and all insurance policies is included.
Does Sapphire Wealth Planning uphold the fiduciary standard?
Yes, as a fee-only Certified Financial Planner, we are required by the CFP Board to ensure the client's interest is put first and foremost. Since financial products are not sold by the firm, we are not influenced by the commissions offered with those products.
What is the difference between a Certified Financial Planner and a Financial Advisor?
A Certified Financial Planner, also known as a CFP, has met the standards set by the CFP Board, whose sole purpose is to promote the fair treatment of consumers. Not only have CFPs passed a rigorous exam to earn the certification, they are also required to have a minimum of a Bachelors degree, completed an additional six course educational program and gained three years of work experience in the financial services industry. Continuing education is also required to maintain the certification.
Anyone can hold themselves out to be a financial advisor, financial consultant or financial planner, regardless of their education or work experience. There is no education requirement or certification process to hold one of the aforementioned titles. As a consumer, you should always ask the professional you are considering to hire about the certifications, licenses and education they have attained.
How are the terms fee-only and fee-based differentiated?
The term fee-only indicates that the professional with whom you work is compensated solely by the fees paid to them by the clients that they serve.
The term fee-based indicates that the professional with whom you work may be compensated with commissions received from financial product companies for the sale of their products, such as insurance policies, annuities, and non-traded REITs, in addition to the fees paid to them by clients.
How is your fee calculated?
There are two components to the fee calculation. First, there is an annual financial planning fee based upon the scope of the project and the amount of time that will be required to maintain the plan. The second component is based on the balance of the assets under management on the last day of the billing quarter.
Do I have to have a certain amount of money to be a client?
No! A minimum level of assets is NOT required to become a client.
Sapphire Wealth Planning LLC is a registered investment adviser located in Overland Park, KS. Sapphire Wealth Planning LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Sapphire Wealth Planning LLC's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Sapphire Wealth Planning LLC's web site on the Internet should not be construed by any consumer and/or prospective client as Sapphire Wealth Planning LLC's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Sapphire Wealth Planning LLC with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Sapphire Wealth Planning LLC, please contact the state securities regulators for those states in which Sapphire Wealth Planning LLC maintains a registration filing. A copy of Sapphire Wealth Planning LLC’s current written disclosure statement discussing Sapphire Wealth Planning LLC's business operations, services, and fees is available at the SEC’s investment adviser public information website – www.adviserinfo.sec.gov or from Sapphire Wealth Planning LLC upon written request. Sapphire Wealth Planning LLC does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Sapphire Wealth Planning LLC's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
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