- Q: Do you offer pre-packaged, cookie cutter solutions to my financial situation?
A: No. Our financial advisors work hard to learn the specifics of your situation. Based on what we learn, we tailor custom plans and strategies to fit the exact needs of each client.
- Q: Do you show a bias towards, or endorse, the financial products of any particular financial institution?
A: We do not. We do not receive kick-backs or incentives from any financial institution in exchange for endorsing, or investing in, their products. Therefore, when we recommend insurance or investment products for our clients, we are able to do so with only our clients’ best interests in mind.
- Q: Are you going to try to sell me something that I do not understand?
A: The successful implementation of a financial plan is dependent upon full buy-in from both the client and the advisor. We strive to ensure that our clients fully understand the reasons for our recommendations, and that both parties agree on the strategy for your financial situation. Furthermore, because we are compensated on both a fee-based and commission schedule, there is no pressure on us to “make sales” to our clients, meaning our clients are never pressured to “buy” anything.
- Q: Are you going to perform services without explanation and then hit me with an exorbitant bill later?
A: We are always upfront with how, why, and when you can expect to be charged for our services. No services will be performed without first communicating with the client.
- Q: Are you going to put pressure on me to hire you as my advisor?
A: We want the relationship between a financial advisor and a client to be mutually agreeable. During our first meeting with a potential client we work to determine if we are the right fit for you. Our advisors will not pressure anyone to hire them as an advisor.
- Q: How much do you charge for a first meeting?
A: There is no charge for first meetings with prospective clients. During this meeting we will spend some time getting to know you and your financial situation. If we believe we are able to perform services to meet your needs, we will give you an estimate of the work we plan to do, and the costs involved. At that point, the client can decide whether or not they want to hire us for our services.
- Q: How is SolomonWood Financial Advisors compensated for its services?
A: Our financial advisors work on both a fee-based and commission schedule.