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How do your services differ from those offered by larger financial institutions?
WJM Financial differentiates itself from many large financial institutions in the following ways:
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We are independent and objective.
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We are fee-only.
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We provide personalized service.
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We provide comprehensive advice.
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We customize our plans to your needs.
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We act as a fiduciary.
Do you provide investment management?
Yes. Investment management is offered as a seperate service and is also included in our personal wealth management service, which integrates ongoing financial planning and investment management.
Do you sell investment and/or insurance products?
No. As a fee-only firm, WJM Financial does not sell any type of investment, insurance, or other financial product. Our success is not contingent upon selling anything. Instead, our success is based on providing exceptional advice and service.
Do you take custody (control) of investment assets?
No. All accounts and assets are held in your name at an independent financial custodian.
Why is fee-only important?
Although no compensation structure is inherently good or bad, we believe that there are far fewer conflicts of interest involved when a planner’s success is not based on selling a product.
Is financial planning only for the wealthy?
No. Anyone seeking to gain control of their personal finances, improve their ability to meet financial objectives, or enhance their financial peace of mind can benefit from financial planning.
Do you require minimum investment amounts?
No. We welcome the opportunity to work with anyone who shares our financial planning and investment philosophy, and to whom our services can provide significant value. In order to provide a consistently high level of service, however, we do impose minimum quarterly fees. These fees are outlined in the "Services and Fees" section of this website.
What is your investment philosophy?
We believe in broad asset allocation and diversification, disciplined long-term investing, and that an investment’s risk and return attributes must be considered together. We focus on fundamentals and avoid speculating on so-called hot stocks, mutual funds, or business sectors.
We understand that each investor’s risk tolerance is unique, and that the greatest risk an investor faces is the risk of not meeting his or her goals. Our portfolios are constructed with your goals, not hot funds or speculation, in mind.
What type of investments do you recommend?
It depends on each investor’s circumstances. For the equity portion of a portfolio we generally utilize no-load mutual funds. However, we may also recommend exchange traded funds, separately managed accounts, or other investment vehicles if appropriate for your circumstances.
The fixed income portion of a portfolio is affected by many factors, including your liquidity and income needs, income taxes, time horizon, the economic environment, and net cash flow. Depending upon these factors, we may utilize no-load bond mutual funds or individual bonds.
How do you charge for your services?
Our fee structure depends on the service provided. Financial consulting and comprehensive financial planning services are typically billed on an hourly basis. Although the actual fee will depend on the scope and complexity of your plan, you will receive an estimate before any planning is commenced.
The fees for personal wealth management - our ongoing financial planning and investment management service - are generally based on a percentage of the assets under management. This is typically 1.0% of the managed assets.
Are there any up front fees?
No. If you select comprehensive financial planning or financial consultation you will not be billed until your plan is completed, presented, and you are satisfied with the quality and service.
If you select personal wealth management, you will be billed on a quarterly basis, in arrears. You are not billed for a quarter until the beginning of the next quarter.
Will you work with my other advisors?
Yes. If you are currently working with other advisors – accountant, attorney, or money manager – we will be happy to coordinate efforts with them to provide you with fully integrated service and advice.
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