This Frequently Asked Questions
(FAQ) section offers general guidance on many issues. 
Why do I need a Financial
Planner?
Most people simply don't have the time or expertise to develop and implement their own financial plan. The world of personal finances can be confusing, intimidating and complicated and without proper advice, you may not be making the most of what you have or will have in the future. A Financial Planner can help you clarify your life goals and systematically help you take control of your personal finances. A well-developed financial plan will give you the comfort and confidence that you are on track to meeting your life goals. While there are plenty of resources available for the "do-it-yourselfer", it is hard to get started without the guidance and structure a Financial Planner can provide.
If you are experiencing a major life change such as the death of a spouse, divorce or job loss, a Financial Planner can guide you through the crisis and help you deal with the financial complexities these life changes bring. A Financial Planner can also help you manage your finances through other life transitions such as marriage, retirement, starting a new business, shifting to part time work.
What is the difference between a financial planner and an investment advisor?
A Financial planner uses the financial planning process to help you manage all aspects of your personal finances more successfully. A Financial Planner will consider all of your financial needs including: budgeting and savings, debt management, tax planning, investments, insurance, retirement and estate planning.
An Investment Advisor focuses primarily on recommending, implementing and managing your investments. Many financial planners also provide investment management services.
At LifeDesign Financial, we do not manage investment portfolios or recommend specific investment products. We work with you to develop or refine your investment strategy in the context of your overall financial plan and we can help you find an investment advisor if you need one. We also work closely with your existing investment advisors and other professionals to ensure all aspects of your financial plan are consistent and in line with your objectives and values.
What does "Fee-Only" mean?
"Fee-only" or "Fee for service" means that the Financial Planner may charge an hourly rate, a flat rate for a specific service or be paid a fee based on a percentage of assets or income.
At LifeDesign Financial, we charge fees for our services (either hourly or service package basis) and we do not earn any commissions or referral fees for the sale of financial products. Most financial planners and advisors work on a "commission-basis" and are compensated for selling investments and insurance products.
To earn your trust, we do not endorse any particular product or service. We are completely independent and therefore can provide you with objective guidance and advice.
How do I choose a Financial Planner that is right for me?
Finding the right financial planner usually takes some homework and investigation. You can start by asking friends or family for a referral and you are wise to interview more than one Financial Planner. Before the interviews, check out The Financial Planning Standards Council's Choosing a Financial Planner. The clearer you are on what you are looking for and what you expect from the relationship, the better you will be able to find a Financial Planner that works for you.
Most people simply don't have the time or expertise to develop and implement their own financial plan. The world of personal finances can be confusing, intimidating and complicated and without proper advice, you may not be making the most of what you have or will have in the future. A Financial Planner can help you clarify your life goals and systematically help you take control of your personal finances. A well-developed financial plan will give you the comfort and confidence that you are on track to meeting your life goals. While there are plenty of resources available for the "do-it-yourselfer", it is hard to get started without the guidance and structure a Financial Planner can provide.
If you are experiencing a major life change such as the death of a spouse, divorce or job loss, a Financial Planner can guide you through the crisis and help you deal with the financial complexities these life changes bring. A Financial Planner can also help you manage your finances through other life transitions such as marriage, retirement, starting a new business, shifting to part time work.
What is the difference between a financial planner and an investment advisor?
A Financial planner uses the financial planning process to help you manage all aspects of your personal finances more successfully. A Financial Planner will consider all of your financial needs including: budgeting and savings, debt management, tax planning, investments, insurance, retirement and estate planning.
An Investment Advisor focuses primarily on recommending, implementing and managing your investments. Many financial planners also provide investment management services.
At LifeDesign Financial, we do not manage investment portfolios or recommend specific investment products. We work with you to develop or refine your investment strategy in the context of your overall financial plan and we can help you find an investment advisor if you need one. We also work closely with your existing investment advisors and other professionals to ensure all aspects of your financial plan are consistent and in line with your objectives and values.
What does "Fee-Only" mean?
"Fee-only" or "Fee for service" means that the Financial Planner may charge an hourly rate, a flat rate for a specific service or be paid a fee based on a percentage of assets or income.
At LifeDesign Financial, we charge fees for our services (either hourly or service package basis) and we do not earn any commissions or referral fees for the sale of financial products. Most financial planners and advisors work on a "commission-basis" and are compensated for selling investments and insurance products.
To earn your trust, we do not endorse any particular product or service. We are completely independent and therefore can provide you with objective guidance and advice.
How do I choose a Financial Planner that is right for me?
Finding the right financial planner usually takes some homework and investigation. You can start by asking friends or family for a referral and you are wise to interview more than one Financial Planner. Before the interviews, check out The Financial Planning Standards Council's Choosing a Financial Planner. The clearer you are on what you are looking for and what you expect from the relationship, the better you will be able to find a Financial Planner that works for you.
