Frequently Asked Questions

 

Qualifications

How long have you been serving clients as a financial advisor?
Since 1994.

With whom is Erlandson Wealth Management registered? 
Erlandson Wealth Management is registered with and regulated by the state of Oregon, Division of Finance and Corporate Securities, # IA-3415.

What are Dave's certifications and registrations?
Certified Financial Planner™ (CFP®), Registered Investment Adviser (RIA), NAPFA-Registered Adviser (fee-only adviser)

What is your area of expertise? 
Investments, tax reduction, college savings and retirement income planning. 

 

Certifications and registrations

What are Registered Investment Adviser (RIA) firms and Investment Adviser Representatives? 
Firms and advisers who are registered with the Securities and Exchange Commission or a state's securities agency. The U.S. Securities and Exchange Commission defines investment advisers as an individual or a firm that is in the business of giving advice about securities, such as stocks, bonds, mutual funds, or exchange traded funds. It is  also common for investment advisers to manage portfolios of securities.

What is a Certified Financial Planner™?
Anyone can call himself or herself a financial planner. However, only a Certified Financial Planner™ has met the education, examination, experience and ethical requirements mandated by the CFP®  Board. Of the estimated 800,000 financial advisors in the U.S., only 55,000 have earned  the CFP® designation.[1]

The CFP® certification mark identifies individuals who have met the education, examination, experience and ethics standards established by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP Board owns the CFP® certification mark and licenses qualified individuals to use it.

The CFP Board is an independent professional regulatory organization. Established in 1985 as a non-profit corporation, the CFP Board exists to benefit and protect the public by establishing, maintaining and enforcing education, examination, experience and ethics requirements for CFP®   licensees. -- CFP Board  

[1] http://www.cfp.net/

 

 

Link to Website: Why CFP Certification Matters

 

Does your firm have any disciplinary history with the CFP Board?
No.

What is a NAPFA-registered fee-only advisor?  
The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors. Fee-only advisers do not collect commissions from securities investments or referral fees paid by other product or service providers.

As a fiduciary, fee-only advisor, I am not restricted to recommend any specific mutual funds, annuities or insurance policies.

 

 

Video: Your Butcher is not a Dietician, Right?

 

The process

What are the advantages of financial planning?
A CFP is trained to handle every area of personal financial planning in a holistic manner. No stone is left unturned. 

  • We provide real-time, accurate and secure data aggregation to combine all of your account data into one log-in port and one plan. 

  • You can hold your investments at different institutions and finally see them all together in one place! 

How difficult is the financial planning process? 
Our first meeting is complimentary, and we spend about an hour discussing your questions and situation. If we decide to work together, you will already have a good start on creating a personal financial plan with instant online access.  Most clients find that the process brings a great deal of relief.

How do you monitor accounts? 
You receive account statements directly from our third-party custodian. And we use Morningstar Office to provide regular performance reporting. We meet or talk on the phone as often as you like, and I am always available during business hours or by appointment. Once a year we sit down together and review and adjust your portfolio. Because we are investing in index funds, daily monitoring of individual stock performance is not necessary.

Do you work with small business owners?
Yes. As a small business owner (20 years), I understand your needs.

 

Payment

How do you charge?
Our fees are based on the amount of assets managed (depending on your total account balance). Trade costs are included in this flat fee. We do not accept commissions and you do not pay separate loads and are not advised to invest in vehicles which carry surrender charges. We specialize in using low-cost index funds and ETFs (exchange-traded funds). We do not charge a separate financial planning fee for holistic financial planning and investment advice associated with asset management. 

Do you have a minimum investment requirement?
Wealth management is not only for rich people. Generally our average minimum investable assets is $50,000. However, we make exceptions for referrals, family members, and special cases. We also offer hourly and flat-fee advisory services. Please don't hesitate to contact us.

What if I don't need asset management services?
We offer hourly and flat-fee holistic financial and investment planning services. You don't have to change your investment custodian or use our custodian (TD Ameritrade). 

Do you take commissions? 
No. I am not affiliated with a broker-dealer, so I do not take commissions on securities transactions.

Do you accept referral fees from other professionals, such as attorneys, insurance agents or accountants?
No.

 

Coordination

How do you work with insurance needs and products?
We can provide advice and service on various no-load insurance products, including term and permanent products. We can help evaluate your current policies (including annuities) and find out if you are paying too much on commissioned products. By eliminating the agent of record, we can help lower costs and enable you to hold insurance directly with various insurance companies.

Can you help me with taxes and legal matters?
Through consultation and coordination with your licensed attorney and accountant (CPA).

Where are your clients' investments held? We use the services of a third-party custodian: TD Ameritrade. TD Ameritrade Institutional is our principal custodian for client assets under management. All accounts are fully insured and the separate property of the client. TD Ameritrade generates monthly investment account statements.

 

You can view your investment accounts online directly at TDAI.

 

 Get started: complimentary in-depth consultation, online planning lab

Are you ready to Get Started by exploring financial planning? You can experiment with an online financial planning lab, or simply take advantage of our complimentary, in-person consultation.

The meeting is a wonderful opportunity for you to ask questions in a relaxed setting. If we're a good fit, we can work together to create a plan. We are low-key: we never pressure you or sell to you.

We also invite you to call or email us regarding our services and any of your financial questions, any time.