A: No, we use this first meeting to determine whether or not we can effectively be of service to you, as well as to allow you to evaluate us. In other words, it's a time for us to get to know one another. As long as that is the main purpose, there is no charge for the meeting.
Q: Why should I hire a financial adviser who is also a fiduciary?
A: A fiduciary financial adviser is required to act with undivided loyalty to the client. This includes disclosure on exactly how he or she gets paid and if there are any conflicts of interest. Simply put, a fiduciary is someone who puts the client’s interests ahead of their own, at all times. Not every financial adviser accepts the fiduciary duty. If you are in doubt about whether or not your adviser acts in a fiduciary manner, ask him to provide a signed fiduciary pledge stating he will always act in your best interest. If he will not provide that simple pledge to put your interests ahead of his, maybe you should look for another adviser.
Q: Why should I hire a Retirement Income Certified Professional®?
As an RICP®, I use the most current techniques to identify an investor's retirement needs and objectives and evaluate a client's current situation relative to those goals. I can provide expert advice on a broad range of retirement topics including income needs and objectives, estate issues and other risks to retirement income planning, Social Security, health insurance and housing decisions, and income taxation.
Q: Why should I hire a financial adviser at all? All the information I need is on the internet.
A: A good financial adviser will help you sift through the vast amounts of information available on the internet and through other sources. We are constantly bombarded with advertisements and ‘advise’ on what to buy. The fact is that not everything on the internet is true and a lot of the information that is basically true can be misleading. Quite a few, if not the majority, of the people who post information to the internet have an agenda. And that agenda is often to sell something. Another role of a good adviser is to identify what information applies to your particular situation. Just because an investment is good for a celebrity spokesperson does not mean it’s the best fit for you. Perhaps the most important role of a financial adviser is to help investors maintain discipline for the long term. A good financial adviser will accommodate emotions and help his or her clients understand how emotions can affect their investment decisions
Q: Where is my money held when I invest with you? I don’t want to become a victim of a ponzi scheme.
A: We use third party custodians to hold your investment money. Neither Iron Mountain Financial nor the individual money managers have direct access to your money.
Q: How can I tell how my investments are doing?
A: You will have access to 24/7 online access to view how your investments are performing through the money manager as well as the custodian.
Q: Is my money locked up for long periods of time?
A: It depends on the type of financial vehicle you have your money in. Most equity-based investments are liquid and you can access your money within 3-5 business days. If you have insurance-based products, there may be a surrender charge associated with accessing your money. The surrender charge varies based on the product and length of time you have owned that particular product
Q: Are you limited to the products you offer?
A: Iron Mountain Financial is an independent financial advisory firm. We are not limited to one company’s line of products or services. We are constantly searching for the best fit for our clients. We have access to many companies services and products to make sure we find the best solution to the unique needs of each client.
Q: How do you get paid?
A: We get paid based on the solution we recommend. If it’s an equity-based solution, we get a small percentage of assets being managed (less than 1%). If it’s an insurance based product, we receive a commission from the insurance company (the commission is not subtracted from your initial investment). We do not accept commissions on trades made in our client’s accounts or up-front commissions (loaded funds). Before you make a final decision, you will see, in writing, exactly how and what I am paid.
Disclosure: Iron Mountain Financial is a registered investment adviser licensed in the state of Colorado to offer investment and insurance advice. Full disclosure.