Frequently Asked Questions – Financial Planning

What is Financial Planning?

Done right, financial planning is a process that helps you figure out where you are financially today and where you want to be in the future, and then helps you determine the best way to get there.

What is a financial planner or advisor?

Anyone can say that he or she is a financial planner or advisor. That's why it's essential to be sure of the qualifications and credentials of any "planner" or "advisor" before you pay anything or entrust them with your financial present or future. Tweedy Financial Services’ advisors are CERTIFIED FINANCIAL PLANNER™ practitioners who offer a free Get-Acquainted meeting either via telephone or in person.

What's so different about Tweedy Financial Services’ advisors?

Our advisors as members of the Garrett Planning Network provide advisory services on an hourly, fee-only basis. We do not accept sales commissions or any compensation other than directly from our clients. Hourly services clients pay only for the time an advisor works with or for them. We also offer investment management services for a fixed-fee retainer or a percentage of the assets being managed.

Don't I have to have lots of money to need or get a good advisor?

No. Our advisors have no income or investment account minimums for hourly engagements.

Shouldn’t I wait until I have more money before getting an advisor?

No. A financial planner can offer you strategies for living and saving more efficiently and effectively so that you can travel a path to a brighter tomorrow. The sooner you seek out a qualified financial advisor, the sooner you can realize your goals and dreams.

How can a financial advisor help me?

Anyone, any age looking for financial peace of mind can benefit from working with a good financial advisor, either periodically or on a regular basis. Tweedy Financial Services serves people at all income levels and from all walks of life - whether the need is one quick question answered or ongoing financial assessment, management and direction. Because our fees are on an hourly or portions-of-an hour basis, Tweedy Financial Services offers an affordable opportunity for beginners, middle-income Americans, and do-it-yourselfers to get quality financial and investment advice.

Each individual's situation is unique. Someone just starting out may need a detailed, long-term plan of action while someone else already on the road to achieving their goals simply may need a new strategy, professional insight, fine-tuning or second opinion of an existing plan. That's why we work to custom tailor our services to meet each individual's needs.

Goals can be short, intermediate, or long-term. Reducing current income tax liabilities, for example, is a short-term goal, while funding a child's education an intermediate one, and enjoying a secure financial retirement a more long-term goal.

By focusing on cash flow, investments, taxes, pensions, and retirement plans, estate planning, insurance issues, savings opportunities, and other general financial matters, we can design a customized financial plan for you.

What if I want or need to buy investment or insurance products? How do I do that?

Tweedy Financial Services doesn’t sell products, only our time and expertise. We do offer specific recommendations and opinions on various products and services that may be appropriate for a client's situation, and in turn we can advise a client where to obtain those products or services. If appropriate and at the client's request, we can also help with plan implementation.

Do Tweedy Financial Services’ advisors provide just full financial plans?

No. Although a full financial plan yields the greatest benefits, we can limit our services to individual, specific needs, such as cash management and budgeting, investment analysis, college education funding, or a basic financial checkup - whatever is critical to you right now.

I already have substantial assets and am doing quite well financially - I think. Can you help me?

Yes. We offer many services for those people who need more sophisticated financial planning or advice. If a goal is to simplify your financial affairs, one of our ongoing client programs may be right for you. Or, if you're interested in a professional review or a second opinion, we can provide that, too.

I'm in charge of the retirement plans and employee benefits at my company and would like to get more employees to participate. How can you help us?

Education is key to increasing employee participation and appreciation. Tweedy Financial Services can customize a program for a company's employees to help them understand the benefits of various programs.

Can you help me with different kinds of securities?

Yes. We provide advice on many types of securities, including mutual funds, stocks, stock options, bonds, bank deposits, and variable and fixed annuities. We also provide advice on mortgages, budgeting and cash flow issues, 401(k), 403(b) and other retirement programs, and more.

If it has to do with money and finances, Tweedy Financial Services, LLC can provide counseling, guidance and resources. Our slogan is "Creating Strategies for a Brighter Tomorrow™”, and we mean it. Whatever financial strategies you need, we can work to design them to help make your future more confident and secure.

If I use Tweedy Financial Services to develop a financial plan, am I obligated to purchase the recommended products?

Absolutely not! We offer recommendations to meet your needs and objectives, but you are under no obligation to purchase anything. We also recognize the importance of shopping around for the best available product or service. If you need equities in your investments, for example, we will recommend mutual funds and the amounts that best fit your situation, then direct you to one or several different providers with quality products at competitive prices.

The extent of your advisor's involvement in helping with your purchase of a product or investment is also up to you. If you would like, an advisor can help you purchase investments and/or set up your accounts with a third-party custodian, such as a discount broker. Since our advisors are not compensated by commissions on products, you can be assured that our recommendations are based on what we truly believe is in your best interests. We take our fiduciary role seriously.

What is Tweedy Financial Services’ investment philosophy?

As financial advisors and investment consultants, we believe in the following fundamental principles when it comes to designing an investment portfolio and making specific recommendations:

• The purpose of a client's investment portfolio is to fund current and/or future financial objectives.

• The design of the portfolio must take into account the client's financial objectives, tolerance for risk, needs for current income or liquidity, and special considerations, such as income and estate taxes.

• The important thing to remember is that no one can predict the future. Differences of opinion make a market. Investment and economic "experts" provided with the same information often come to different conclusions. We do not suggest that we, or that any of the managers of the mutual funds that we may recommend, will make the correct decision every time. We do believe, however, that studying the historic trends and relationships of investment classes and the philosophies and approaches of successful investment managers can provide valuable insight.

• The appropriate allocation of investment assets for your goals and risk tolerance is the most important component in developing an investment portfolio.

• We believe that a diversified, well-balanced portfolio, combined with long-term buy-and-hold strategies, affordability and patience, increases the likelihood that one will achieve his or her long-term financial objectives.

How does Tweedy Financial Services select investments for a client?

Before recommending any investment, a Tweedy Financial Services’ advisor considers current economic conditions, the outlook for a particular asset class or type of security, and how the investment fits within a client's portfolio given his or her objectives and tolerance for risk. Based on this assessment the advisor will recommend appropriate investments, such as bank money market accounts and CDs, U.S. Bonds, and various equity, bond and money market mutual funds.

Tweedy Financial Services prefers to recommend low-cost passive index mutual funds, which track specific market indexes, rather than typically higher-cost actively managed funds. To a lesser extent, actively managed funds may also be used, in which case the philosophies, experience and track record of the management team are critical elements to be considered.

As fiduciaries for our clients, we strive to obtain the most appropriate investment vehicles to meet a client's objectives, while being very conscious of total expenses and risk exposure.

How does Tweedy Financial Services charge for financial advisory services?

Our fees are based on the time involved in meeting with a client in person or via the phone, researching and analyzing that client's current situation, and providing specific recommendations and implementation assistance (if appropriate). The hourly rate is $250 per hour. Tweedy Financial Services normally provides prospective clients with firm quotes of their estimated fees at the end of an initial no-cost, no-obligation Get Acquainted session. Please contact us for more information.

Are your advisor’s fees tax-deductible?

Yes, with certain limitations. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A. It is subject to a two (2) percent floor of the adjusted gross income on a personal tax return.

Once my financial plan or project is finished, will our relationship end?

No, only that particular engagement will end. It's up to you to contact your advisor as the need arises. However, Tweedy Financial Services likes to think of financial advisors as ongoing providers. Just as someone thinks of a dentist as an ongoing provider and has regular dental checkups to maintain good dental health, good fiscal health requires periodic reviews of your personal finances by a qualified financial advisor.

Because financial planning is a process, not an event, Tweedy Financial Services offers ongoing services, periodic reviews, and day-to-day consultation as requested and/or needed if you so desire.

How do I Get Started?

E-mail us at Info@TweedyFinancial.com or call us at, (516) 775-8363. At your Get Acquainted Meeting we will discuss your immediate financial planning needs and provide a firm estimate of the charges involved, the data needed, and when your work will be completed.