Frquently Asked Questions
Have questions about working with a fee-only financial advisor in Chicago?
You’re not alone. Here are the most common questions I hear from prospective clients in Forest Glen, Sauganash, and throughout Chicago’s Northwest Side. Don’t see your question answered? Send me a message and ask me directly.
I provide comprehensive wealth management including: investment management (portfolio construction, rebalancing, tax-loss harvesting), financial planning (retirement planning, education funding, major purchase planning), tax planning (tax-efficient investment strategies, Roth conversions, charitable giving strategies), estate planning coordination (working with your attorney on estate documents, beneficiary reviews, trust funding), and specialized services for equity compensation (stock options, RSUs, ESPP strategies). Everything is included in one fee. No à la carte pricing.
After our initial consultation, if we decide to work together, here’s what happens: (1) You’ll complete a simple online questionnaire about your financial situation and goals, (2) We’ll schedule a comprehensive discovery meeting (virtual or in-person) to dive deeper, (3) I’ll create your personalized financial plan and investment strategy, (4) We’ll review the plan together and make any adjustments, (5) Once approved, we’ll open accounts and transfer assets, and (6) Implementation begins. The entire process typically takes 2-4 weeks, though we can move faster if your situation warrants it.
You can terminate our agreement at any time, for any reason, with no penalties or fees. You own your accounts. I’m just managing them with your authorization. If you decide to leave, I’ll help transition everything smoothly to your new advisor or back to self-management. You’ll receive a final invoice prorated to the date you leave. No hard feelings, no complicated exit process.
Yes, I’m registered with the Securities and Exchange Commission. You can search for me at SEC.gov (https://adviserinfo.sec.gov/).
Market corrections are normal and expected. My approach during downturns:
(1) Stick to the plan we built together. Portfolios are constructed with volatility in mind
(2) Rebalance strategically to buy assets that are ‘on sale’
(3) Harvest tax losses where appropriate to offset gains
(4) Communicate proactively so you understand what’s happening and why, and
(5) Prevent emotional decisions that can permanently harm your long-term returns. History shows that staying invested through downturns has been the winning strategy. Panic selling is not.
No, I don’t prepare tax returns. However, I work closely with your CPA or tax preparer to ensure our investment and planning strategies align with your tax situation. I provide tax-smart investment management (like tax-loss harvesting and asset location optimization) and can coordinate with your tax professional on strategies like Roth conversions, charitable giving, and estate planning.
My typical clients are busy professionals and business owners who value their time and want a modern, efficient approach to wealth management. Many work in tech, healthcare, law, or run their own businesses. They appreciate transparency, hate unnecessary complexity, and want an advisor who speaks plain English instead of financial jargon. They’re doing well financially but want professional guidance to optimize their situation and avoid costly mistakes.
I focus on comprehensive wealth management that includes both planning and investment management. This integrated approach ensures your plan is implemented, not just created and forgotten in a drawer.
Yes, I typically work with clients who have at least $250,000 in investable assets. However, if you’re earlier in your career but have complex needs (like equity compensation), I’m open to discussing whether we’re a good fit.
I rebalance portfolios systematically based on thresholds rather than on a rigid calendar schedule. When an asset class drifts significantly from its target allocation (typically 5-10%), I’ll rebalance to bring it back in line. This is usually 1-4 times per year. I also look for rebalancing opportunities during market volatility and when making deposits or withdrawals. The goal is to maintain your target risk level while minimizing taxes and transaction costs.
Your portfolio, your choice. My job is to provide informed recommendations based on evidence and your goals, but you always have the final say. If we disagree on strategy, we’ll discuss the reasoning behind my recommendation and your concerns. Often, we can find a middle ground that works for both of us. If we fundamentally disagree on core investment philosophy, it might mean we’re not the right fit, and that’s okay.
Yes, but my approach is high-level and strategic rather than penny-counting. I’m not going to track every latte you buy. Instead, I’ll help you understand your overall cash flow, optimize your savings rate, identify opportunities to improve efficiency, and ensure you’re allocating money appropriately across different goals. For detailed transaction-level budgeting, tools like Mint or YNAB work well.
Absolutely. Even though I can’t directly manage your 401(k), I’ll review your plan options, recommend the best investments available, determine your optimal contribution rate, coordinate Roth vs. traditional contributions with your overall tax strategy, and integrate your 401(k) into your comprehensive financial plan. Your 401(k) doesn’t exist in isolation. It’s part of your overall wealth strategy.
Absolutely. In fact, the years just before and after retirement are when comprehensive financial planning is most valuable. Key decisions around Social Security timing, pension options, tax-efficient withdrawals, and Medicare can have massive impacts on your retirement success.
Whether you’re 5 years from retirement or already retired, I can help with:
• Social Security optimization
• Sustainable withdrawal strategies
• Tax-efficient distribution planning
• Required Minimum Distribution (RMD) strategies
• Medicare decisions and healthcare planning
• Estate and legacy planning
Your accounts are held at a nationally recognized custodian, not with me personally. This means your assets are protected and accessible regardless of what happens to me or my practice.
I take business continuity seriously because I know how important your financial security is to you and your family.
Yes, especially if you’re a business owner juggling personal and business financial decisions. I help with:
• Retirement plan selection (Solo 401(k), SEP IRA, Simple IRA)
• Owner compensation strategies (salary vs. distributions)
• Business succession planning
• Personal financial planning integrated with business finances
• Tax optimization for business owners
I don’t provide business accounting or bookkeeping services. You’ll need a CPA or bookkeeper for that. But I coordinate with your tax professional to ensure your personal and business finances work together efficiently.