Choosing a financial advisor is a significant decision, especially as you approach retirement.
If you are a baby boomer or pre-retiree with $500,000 to $5 million in investable assets, you should understand exactly how an advisor is paid, how they invest, what it costs, and how the relationship works — before you hire them.
I work with clients nationwide and meet with them remotely, so these are the same questions I encourage prospective clients to ask any advisor they are considering. Below, I’ve included my direct answers so you can decide whether my approach is a good fit for you.
1. Are you a Fiduciary?
Yes. I am a fiduciary and am legally required to place client interests ahead of my own.
As an independent Registered Investment Advisor (RIA), I am not tied to any single company or product. I do not receive commissions or incentives to recommend one investment over another.
My goal is to do the best I can to help every client, and the fiduciary standard ensures that advice is given in your best interest — not mine.
2. How do you get paid?
We have an annual asset-based fee of 1% and a minimum investment of $250,000.
The fee is charged quarterly in advance. Clients know exactly how much they pay and have the right to leave at any time if they are unsatisfied.
By charging a fee based on the value of your portfolio, our incentives are aligned:
- If your account goes up, I get paid a bit more
- If your account goes down, I get paid less
I believe this alignment creates accountability and supports long-term relationships rather than short-term transactions.
Read more: The Price of Financial Advice
3. What are my all-in costs?
Aside from the advisory fee above, I do not charge any additional planning fees or receive investment commissions.
The core of our portfolios consists of low-cost funds from companies such as Vanguard, iShares, and SPDR. We build portfolio models in-house, so you will never be charged:
- Outside management fees
- Wrap fees
- Overlay or third-party strategist fees
Some firms charge an upfront planning fee, an ongoing management fee, and then outsource portfolio management to another provider who charges yet another fee. My focus is on keeping investment costs as low as possible.
4. What are your qualifications?
I hold both the CFP® and CFA® designations and have been a full-time financial advisor since 2004.
I received a Certificate in Financial Planning from Boston University. Prior to becoming a financial advisor, I taught at several colleges and continue to approach my work as an educator.
My academic background includes:
- Bachelor’s degree from Oberlin College
- Master’s degree and Doctorate in music from the University of Rochester
You should also look up any advisor you are considering on the SEC’s Investment Advisor Public Disclosure website to review disciplinary history, bankruptcies, or legal settlements. I do not have any.
5. How will our relationship work?
Financial planning comes first, and investment management follows from that plan.
I work with a relatively small group of families so I can provide a high level of service. Financial planning is a long-term process — not a one-time event. We work remotely, using video chat, phone calls, and email.
We begin with an in-depth Discovery Meeting to understand:
- The quantitative details of your financial situation
- Your goals, values, and preferences
We gather statements, tax returns, and relevant documents for analysis. All clients complete a Finametrica Risk Profile, which we review together.
Using a modular planning process, we focus on the planning areas most relevant to your situation.
During the first year, much of the work involves building your plan. Starting in year two, we typically meet twice per year for ongoing monitoring and planning. Clients are encouraged to reach out whenever questions arise or circumstances change.
6. What’s your investment philosophy?
I believe investors are best served by a passive, long-term investment strategy.
My role is to manage diversified portfolios based on a target asset allocation designed for buy-and-hold investors. I create and manage a series of Portfolio Models to reflect different goals and risk tolerances.
Each model uses a Core + Satellite structure:
- Core holdings: low-cost ETFs across major asset classes such as U.S. stocks, international stocks, bonds, and cash
- Satellite holdings: tactical positions that may change over time based on relative value
Satellite investments may include emerging markets, real estate, commodities, preferred stocks, convertible bonds, or other categories.
I do not believe value is added through market timing, individual stock picking, sector rotation, or speculative strategies — especially when considering the additional risks involved.
7. What asset allocation will you use?
Your asset allocation is determined by your individual goals, risk tolerance, and financial situation.
Our models typically include 10–15 ETFs or mutual funds and are diversified across thousands of securities.
Target allocations may include:
- Ultra-Equity: 100% Equity / 0% Fixed Income
- Aggressive: 85% Equity / 15% Fixed Income
- Growth: 70% Equity / 30% Fixed Income
- Moderate: 60% Equity / 40% Fixed Income
- Balanced: 50% Equity / 50% Fixed Income
- Conservative: 35% Equity / 65% Fixed Income
8. What investment benchmarks do you use?
We use simple, globally diversified benchmarks to evaluate performance.
- Stocks: MSCI World Index (Total Return)
- Fixed Income: Bloomberg Barclays U.S. Aggregate Bond Index
Read more: How a Benchmark Can Reduce Home Bias
9. Who is your custodian?
Client assets are held at Charles Schwab & Co.
This allows clients to work with an independent fiduciary advisor while also benefiting from the scale, technology, and security of one of the largest custodians in the industry.
10. What tax hit do I face if I invest with you?
Tax efficiency is a key consideration in how portfolios are built and managed.
For high-net-worth families, we focus on:
- Asset location
- Low-turnover funds
- Tax-loss harvesting
- Tax-efficient investment vehicles
Portfolios are typically rebalanced once per year, which helps limit unnecessary short-term capital gains. All tax decisions are made in the context of your individual situation.
Read More: 9 Ways to Manage Capital Gains
Final Thoughts
These are the questions I believe every investor should ask before hiring a financial advisor — whether you work with me or someone else.
If you have other questions, feel free to reach out. I’m always happy to have a conversation and help you determine whether working together makes sense.
Good Life Wealth Management is an independent fiduciary financial advisor helping baby boomers and pre-retirees nationwide with $500,000 to $5 million in investable assets, working 100% remotely.
