Frequently Asked Questions

What is Freedom Financial Management, Inc?

Freedom Financial Management provides comprehensive, fee-only financial planning and tax preparation/planning services. We coordinate investment, retirement, and tax strategies in one place.

What is a Registered Investment Advisor?

An investment advisor is a fiduciary who has a duty to act in the client’s best interests. A Registered Investment Advisor is regulated by the SEC or state regulators. We are registered in the state of Florida, CRD #315316.

Are you fiduciaries?

Yes. We are legally and ethically obligated to act in our clients’ best interests.

How are you compensated?

We are a “fee-only” firm.  

What does “fee-only” mean?

We are compensated directly by our clients. We do not sell any products and do not receive commissions for recommending financial products. This reduces conflicts of interest and supports objective advice.

How much do you charge for planning services?

Fees are typically based on income, assets, and complexity of the work. We generally work on an annual retainer basis. There are some instances where we work for clients by the project or on an hourly basis.

Is there a “minimum” amount required to work with you?

There is no minimum asset or income requirement. We recognize that persons with little or no assets have financial planning needs.

Whom do you typically work with?

We primarily work with individuals (including estates and trusts), families and business owners who want coordinated financial planning and tax guidance. Our clients typically prefer a long-term advisory relationship and value having investments/taxes in one place.

What is the first step to becoming a client?

Schedule an initial consultation where we discuss your situation and determine if we are a good fit.

Do you offer one time financial plans or only ongoing engagements?

We offer both. But most clients come to us for integrated financial and tax planning rather than one time advice.

How often will we meet?

Most clients meet with us semi-annually, with additional meetings as needed based on situation.

Do you offer remote meetings?

Yes, we work with clients in person and remotely.

What is a financial plan?

An in-depth review of your financial situation, taking into account your goals and objectives and focusing on income tax planning, asset management, risk management, educational planning, retirement, and estate planning. It helps identify strategies to achieve your goals.

Do you offer tax preparation?

Yes. This is included in our comprehensive planning retainer or can be a standalone service.  

Are your fees deductible?

As of January 2018, investment advisor fees are no longer tax deductible on the Schedule A. The tax preparation/planning portion of the fee may be a deduction depending on your situation.

Do you sell financial planning products, such as stocks, mutual funds, insurance, or tax shelters?

No.  

When you develop a financial planning program together, am I obligated to purchase the recommended products?

No. In fact, you are encouraged to shop for the best available product.

What methods of analysis are used to analyze investments?

We use a fundamental, long-term investment approach based on economic conditions and broader market factors (e.g. interest rates, industry trends) as well as tax benefits. We do not use technical analysis or charting.

Do you guarantee investment performance?

No. All investing involves risk and the potential loss of principal.

Will my private information be kept confidential?

Yes. Your information will not be sold and is kept in strict confidence.

Once a plan is completed, does our relationship end?

It should not. Financial planning is a process, not an event. The most important step in this process is the monitoring of the plan. Of course, you have the ability to end our relationship at any time for any reason.