FAQs

General FAQs

Are you accepting new clients?
ABSOLUTELY!!! We are so committed to serving the needs of our existing clients, we believe that when you are ready for a financial planning discussion you should reach out to us. We are only looking to establish life-long relationships with clients, and as such we believe that you should seek a firm that exudes experience, integrity and a style that matches your needs.

Where do you meet with your clients?
Most appointments are scheduled in our office; however, on occasion we do make ourselves available to meet with individuals in their home or place of business. Our office hours are from 8:00am to 5:00pm daily.

How do I schedule an initial consultation?
A phone call to our office is best. It is usually best to speak briefly with our Office Manager or Sales Assistant prior to scheduling your initial appointment so that we can allot the appropriate time for your visit. Your initial consultation will last anywhere from 45 minutes to 90 minutes. The disclosure kit we send you will include what you need to bring to our meeting.

What should I expect from an initial consultation?
You can expect our meeting to be informal and focused as much on "getting to know you" as it is about you learning about our firm. During our meeting, we will seek to understand your unique goals and objectives by asking questions that cause you to think about "money issues" in ways you may have never thought before. Of course, we will also briefly review details pertaining to your assets (what you own), liabilities (what you owe) and your insurance (what protects you and your family from risks).

What can I expect at the conclusion of an initial consultation?
At the conclusion of our meeting, we will:

• Review your goals and objectives — We want to be sure we heard you correctly and clarify any inconsistencies in the disclosure kit.
• Review our process for preparing a financial plan — After all, you should know what you are buying to make the best informed decision
• Our Promise to you — Following our initial meeting, we will dictate a memo to your file so that we can document our conversation. In addition, we will send you a thank you letter which restates the goals and objectives we discussed in our meeting along with any other information we need to gather from you. This may include:
• You signature on our Financial Planning Agreement
• Actual statements from various financial institutions
• Other items of importance.

What can you send me about your firm?
Our comprehensive disclosure kit will provide you with a complete overview of our firm's background, our services, our experience and, of course, how to prepare for a complimentary consultation with us. call us at 800.955.9081.

Financial Planning Process FAQs

How do you define Financial Planning?
At Genesis Financial Group we are dedicated to helping our clients identify whether they are receiving financial planning services or not. We simply call it "the Formula for Financial Planning"

What is the Formula for Financial Planning?
Our formula of financial planning is as follows:

We believe that in order for someone to say they received financial planning, the client must feel confident that their planner:

• Asked questions about their Goals, Challenges and Successes (We call this Discovery)
• Explored how effectively the client has elected to protect their family, their health, their life and their legacy. (We call this Capital Protection)
• Discussed issues that impact the quantitative elements of their financial life with particular attention to how changes in cash flow, market volatility, inflation and other factors will impact the client's expectations. (We call this Wealth Management)

What is WealthVision?
Go To WealthVision
WealthVision is our state of the art, fully integrated financial planning software system. All clients who, after completing a financial plan, maintain advisory accounts are eligible to participate in our single-access point, integrated software. This web-based, highly secure solution allows clients to view their overall net worth on a single page, while having their financial data updated automatically on a daily basis. Access to investment reports, financial planning progress, realized gain and loss statements and snapshots of their insurance and liabilities are accessible at their fingertips.
In addition, clients have the opportunity to upload private documents such as wills, trusts, insurance policies, deeds and more to their own secured on-line vault. Of course we are happy to assist you in these activities as well.

What goes into the construction of a Financial Plan?
Step #1:
Each client relationship is unique, yet in general, we first construct a comprehensive Net-Worth Statement that details assets and liabilities as well as ownership of each item. We may also prepare a cash flow statement and other supporting schedules. We do this to insure that our analysis is based on our collective understanding that your "financial snapshot" is accurate.
Step #2:
Your net worth will be sent to you for your review prior to us beginning any detailed analysis.
Step #3:
Upon receipt of your approval of the net worth statement, we will begin our comprehensive analysis which will include a review of (but not limited to):

• Previous Tax Returns
• Pay-Stubs
• Benefits Booklets
• Investment, Retirement and Bank Statements
• Insurance Contracts
• Deeds to Property
• Any and all outstanding debts, including:
• Mortgages
• Equity Loans
• Credit Cards
• Student Loans
• Personal Loans
• Etc.
• Estate Planning Documents such as:
• Wills
• Trusts
• Powers of Attorney
• Health Care Proxies
• Etc.

We recognize that every individual's situation is unique and it is critical that we understand the mechanics behind each component of your financial life before proposing any recommendations.
Step #4: Continued Analysis
During the analysis phase, we will identify your strengths and your points of vulnerability. We will make individual comments on particular areas of your situation.
In addition, we will also develop models, projections and "what-if" scenarios that showcase how likely you are to achieve your personal goals.
Step #5: Recommendations
Our financial plan includes relevant recommendations that address your point of vulnerability and offer strategies (which you can implement on your own) to help you achieve your goals. IMPORTANT — You are under no obligation to implement any financial planning strategy through our office. As Registered Investment Advisor Respresentatives with the State of Texas, we are obligated to deliver an objective representation of your financial situation and empower you with a road map that can be implemented anywhere you see fit.
Step #6: The Financial Planning Presentation
All financial plans are presented in our office. You should budget between 1 and 2 hours for our highly interactive presentation. Many of our strategies are presented through our State of the Art WealthVision software program which allows us to play "what if" scenarios while we collectively discuss your situation. We utilize a combination of financial planning software, spreadsheets, research and our personal experiences as tools that guide us towards our recommendations.
Step #7: Implementation
At the conclusion of our financial planning presentation you will be provided with an action plan. This document will serve as a timeline and guide that prioritizes items of importance and issues you need to consider.

Wealth Management FAQs:
Many clients often have questions about how our investment advisory services work.

Are you really committed to Financial Planning once assets are under your management?
Absolutely!!!! Our professionalism and persistence before the sale is only succeeded by the performance of our team after.  As an advisory client, we are committed to delivering the same depth of analysis and reporting that we developed for your initial financial plan. On an ongoing basis, we will continue to update the progress of their goals and make recommendations as needed. In addition, our clients continuously turn to us for advice on the following areas:

• Advice and analysis on large purchase considerations such as a home, boat or car.
• Advice and analysis on refinancing and mortgages.
• Advice on reallocation and review of retirement plans held with your current employer.
• Analysis of corporate benefits such as stock options, deferred compensation plans, executive bonus plans, etc.
• Ongoing review of your homeowners, automobile, and umbrella policies.
• Continued analysis of Life, Disability and Long Term Care Insurance.
• Ongoing conversations pertaining to estate issues such as legacy planning, tax planning charitable giving and more.

Do I continue to pay an annual financial planning fee if I use your Investment Advisory Services?
Clients who elect to hire our firm as Investment Advisory Representatives, after the completion and presentation of an objective financial planning analysis, will continue to receive ongoing updates, regular monitoring and periodic reviews that address their overall financial planning objectives. We do not accept investment advisory clients without first knowing our client's overall financial situation. This allows us to truly place the interests of our clients first and align with our Code of Ethics as Certified Financial Planner Professionals.
Most clients who choose to invest through our firm utilize investment advisory programs offered through our broker/dealer LPL Financial.

What is...

• Strategic Asset Management?
• Optimum Market Portfolios?

What is your research process?
Many clients ask us how we're able to manage so much money AND maintain such personal relationships with our clients. We are able to do it because of the relationships we maintain with the LPL Financial Research Department. Comprised of over 40 independent analysts, economists, strategists and CFA's we rely on their independent assessments of the global economic environment as a baseline for our client portfolio construction. In addition, they offer recommendations and insights on specific mutual funds and other securities. While we regularly incorporate our own firm's perspectives and judgment on which investments to utilize in a client portfolio, it is nice to have a full-time research department supporting our practice.
And support us, they do. Did you know that of the 12,000 representatives currently registered with LPL Financial, our firm resides in the top 1% of all advisors based on Revenues and Advisory Assets Under Management? When we need LPL's support to address your unique issues, they are ready to serve us.
Our research process allows us to custom construct portfolios that can include client legacy positions (investments you already own) along with no-load, institutional and load-waived funds. In addition, we can include exchange traded funds, stocks, and individual bonds.
Our affiliation with the largest independent broker/dealer in the USA (as reported in Financial Planning Magazine — June 1996-2006, based on total revenues), grants us access to multitudes of insurance carriers, annuity companies, cash management tools, and more. As independent representatives we are free to select from companies that best serve our clients interests.

How often are portfolios reviewed?
While each client portfolio is individually constructed, there are about 50 securities that frequently appear in many client accounts. Each day, both LPL's research department and our office review data and nuances that impact these securities and their corresponding competitors.

How often will you look at my portfolio?
Through our initiatives your portfolio will be reviewed internally on a weekly basis. Your portfolio is independently examined for rebalancing considerations, tax strategies, and continued alignment to your overall investment objective. Throughout the year, your portfolio may experience changes in allocation or holdings as we consider new additions, replacements or removals of funds from client portfolios. At least once per year we will schedule an annual review to sit down with you and explain any changes to your portfolio. 

Will you provide performance reporting on investments you manage?
Performance of your investment account is maintained from the date the first dollar is deposited into your account. Each calendar quarter you will receive a performance report of your portfolio. We can also produce performance reports for any time period you'd like and measure your account against several benchmarks. In fact you may at any time check performance yourself with a login & password provided for your WealthVision Account.

What happens if there is a tax liability when a fund is sold?
In the event a client will experience a significant tax liability due to a sale of a security, we will contact you directly to discuss strategies and alternatives. We work very hard to insure that tax management plays a significant role in the continued supervision of your investment portfolio.

Tax Treatment of Advisory Fees
Unlike commissions and brokerage fees, your advisory fees are potentially deductible if they exceed 2% of your adjusted gross income. You should consult with your accountant to determine whether you could benefit from this tax savings. We will be happy to coordinate with your tax professional with your consent.

How often do you meet with your clients?
At Genesis Financial Group the number of meetings/reviews is left to the discretion of our clients. Frequently, we find that clients prefer to meet 3-4 times during the first year, and then 1-2 times in years that follow. Our contact management system insures that we schedule an appointment with you at least annually so that we can both review your financial situation, and also learn about changes that may have occurred in your life.

What can I expect during a client review meeting?
We believe that client review meetings are equally as important as the first. You can expect to have us start with the "Financial Planning Formula". We'll be asking questions about any events that have changed in your life, any financial issues that have caused you to save, spend, or earn more money. Hopefully all of your financial information will be aggregated through our WealthVision program by your first review meeting. This will allow us to have up-to-date information on all aspects of your financial life and we can be prepared to offer thoughts and feedback to you. In addition, we will review the overall asset allocation, risk tolerance, performance and projections designed to help you achieve your goals. Most clients tell us that each time they visit the office they not only learn something more about their personal financial situation, but they wish they had begun a relationship with us much sooner.

Do you prepare tax returns?
We don't prepare taxes because in all honesty it is not what we do very best; we want to be dedicated all year round to your financial planning needs. We are, however, very skilled at reviewing your existing tax return and offering an analysis with recommendations. As changes occur in your financial life, it is important to compare and contrast the impact taxes will have on these decisions. By utilizing your previous year's tax return, we can run what-if scenarios on our planning software and thus create pro-forma tax statements that can better prepare you for the future.