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Common Questions
Financial planning is a strategic process that involves setting and achieving specific financial goals while considering an individual's or family's current financial situation and future aspirations. It encompasses a wide range of activities, including budgeting, saving, investing, and risk management. At its core, financial planning is about creating a roadmap to greater financial success, helping individuals make informed decisions about their money to achieve greater short-term and long-term financial security. It takes into account various aspects of a person's financial life, such as retirement planning, tax optimization, debt management, and estate planning, with the ultimate aim of attaining financial independence and peace of mind.
Effective financial planning is a dynamic and ongoing process. It not only helps individuals navigate life's financial complexities but also adapts to changing circumstances, such as job changes, family additions, or economic shifts. In essence, financial planning is the blueprint for achieving one's financial dreams and helping to ensure financial well-being throughout life's journey.
Our client base encompasses a diverse range of individuals and families, but they typically fall into two primary categories, each with its distinct financial goals and challenges:
- Pre-Retirees and Retirees: Many of our clients are in or approaching retirement. They have worked hard throughout their careers to build their nest egg and want to ensure that they can continue to enjoy their current lifestyle well into retirement. For these clients, our services are designed to create a customized financial plan that not only optimizes their retirement savings but also addresses important considerations like Social Security optimization, healthcare expenses, and estate planning. We help them navigate the complexities of transitioning from the accumulation phase to the distribution phase of their financial journey, ensuring they can live comfortably during retirement without worrying about running out of money.
- Individuals and Couples in Their Prime Earning Years: Another significant portion of our clientele consists of individuals and couples who are in their prime earning years. They face the dual challenge of meeting their present expenses while also planning for their children's education and their own retirement. For these clients, our approach is multifaceted. We work with them to strike a balance between current financial priorities and long-term goals. This involves developing strategies for prudent budgeting, optimizing tax-efficient savings, and making informed decisions about investments. We also help them set up education funds for their children and help to ensure that they are on track to secure their financial future, whether that means achieving financial independence, retiring early, or pursuing other financial objectives.
In both cases, our goal is to provide comprehensive financial guidance that is tailored to our client's unique circumstances and aspirations. We understand that financial planning is not one-size-fits-all and that life's journey is full of twists and turns. Therefore, we take a proactive and adaptive approach, regularly reviewing and adjusting our clients' financial plans to ensure they remain aligned with their evolving goals and financial landscape. Whether you're approaching retirement or in the prime of your career, we are committed to helping you make informed decisions and achieve greater financial security and peace of mind.
Absolutely, we do! Our initial conversation serves as a chance for prospective clients to get to know us better, understand our approach and style, and determine if partnering with WWFS is the right fit for meeting their specific needs and goals.
Great question! We are not for everyone.
Our services are tailored to those who seek a comprehensive approach to financial success. We're not just stockbrokers; we're your partners in achieving your financial goals throughout your life.
Wondering about trusts, balancing retirement savings, funding your children's education, or optimizing tax deductions? These are just a few of the questions we address.
Our guidance is both strategic and behavioral:
- We hold you accountable.
- We keep you on track and adapt as needed.
- We measure progress.
Your financial plan isn't static. We guide you to take the necessary steps when needed, adapting the plan as necessary. We know the plan is your roadmap to living the life you envision, and we take that very seriously.
We can serve clients in all 50 states.
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We have three primary methods of compensation:
- Assets Under Management Fee: We charge an annual fee based on the total value of the investments we manage for you.
- Annuity and Life Insurance Solutions: If we recommend an annuity or life insurance solution, our compensation comes directly from the company offering that solution. As fiduciary advisors, our foremost duty is to present you with the option that best suits your needs, even if it results in lower compensation for us.
- Client Referrals: Perhaps the most meaningful way we grow our client base is through the referrals of satisfied clients who entrust us with their friends and family. A referral is the highest compliment we can receive, and we are deeply appreciative of our client's confidence in us as we continue to serve and expand our community of customers.
When you schedule your initial free consultation with us, we'll provide a thorough breakdown of our fee schedule. Our priority is to ensure you have a comprehensive understanding of the costs associated with our services. Throughout our conversation, please don't hesitate to inquire about any aspect of our fees. Our goal is to empower you to begin your financial journey with confidence and trust in our partnership.
Being a fiduciary financial advisor is a commitment to the highest standard of ethical and legal responsibility when managing a client's finances. It means putting the client's best interests first, always. Fiduciary advisors are legally bound to act in a manner that prioritizes the client's financial well-being, even if it means foregoing personal gains. This involves providing transparent, unbiased advice, making recommendations that align with the client's goals and risk tolerance, and diligently avoiding any conflicts of interest.
Fiduciary advisors must also provide ongoing monitoring of their client's investments and financial plans to ensure they remain suitable and appropriate over time. This duty of care extends to all aspects of financial planning, from retirement and investment strategies to risk management. In essence, being a fiduciary financial advisor means building a relationship of trust and integrity with clients, where their financial welfare is the foremost concern, and every decision is made with their best interests at heart.
Being a non-captive fiduciary financial advisor signifies a commitment to independence and a client-centric approach to financial planning. Unlike captive advisors who may be tied to specific financial products or institutions, non-captive fiduciaries operate with the freedom to explore a wide array of financial solutions and investment options available in the market. This independence ensures that the advice provided is genuinely tailored to the client's best interests rather than being influenced by quotas, sales targets, or proprietary products.
Non-captive fiduciary advisors prioritize transparency and objectivity in their recommendations, putting the client's financial well-being at the forefront. They are ethically bound to act in the client's best interest, even if it means recommending products or strategies that may not provide them with the highest commission. This commitment to impartiality and unwavering loyalty to the client's financial goals sets non-captive fiduciary advisors apart, fostering trust and confidence in the advisory relationship. Ultimately, their mission is to empower clients to make informed decisions that align with their unique financial objectives, free from any conflicts of interest or undue external influence.
Veronica Aguilera, the founder of WWFS, leads a collaborative team effort alongside her partners, David and Ashley Lundberg, to deliver comprehensive services. They support each other seamlessly, ensuring that client needs are met even during periods of vacations or work-related absences.
In addition, as a valued client, you will enjoy the convenience of 24/7 online access to monitor your accounts and financial plans.
Furthermore, Veronica maintains a business succession plan, which she routinely reviews and updates. If you would like to learn more about this plan, please feel free to reach out for additional information. Your peace of mind is our priority, and we are here to address any questions or concerns you may have.
