A formal financial plan with our Director of Financial Planning, Olga Okaty CFP, is the best way to assess your current path and create a retirement plan that suits your needs. This is a written assessment providing a comprehensive evaluation of your current situation and a financial blueprint for the years ahead, modeling several different scenarios based on your desired lifestyle. Those interested in financial planning should watch the helpful overview video found at the bottom of our Financial Planning and Advisory Services page on the website, which can be found here. Complimentary consultations to provide further details are available upon request.
Not only is this something we offer, but it’s also a large focus of our financial planning and investment management philosophy. The financial plan is a useful tool in evaluating the level of risk and returns that the portfolio will need to support in order to achieve your goals. We will not only assist in implementing your plan through investment management, but will also monitor any recommendations to help make sure your financial plan is adjusted as needed. If implementing your financial plan requires additional services, we also work with a network of professionals, such as estate attorneys, insurance brokers and CPAs, who we are able to recommend and coordinate our efforts with when necessary.
Life events and financial concerns can arise at any time, and it is important to us that we stay in tune with the needs of our clients’ evolving lives. We regularly hold annual reviews with each of our clients, but also have an “open-door” communication policy and welcome questions anytime. We have many clients that prefer quarterly or monthly calls, and we are happy to accommodate. Our digital technologies allow our clients nearly instant access to our team, never waiting more than 24 hours on any business day for a response to an inquiry.
We believe the best way to plan for the future is to evaluate the present, optimize opportunities, and design a sound financial strategy that is realistic, relevant, and flexible enough to adjust as circumstances change. We begin by learning about your goals and concerns, your vision for yourself and your family, your opportunities and challenges, and help you decide which financial priorities are most important. We then analyze this information and develop a comprehensive Financial Plan focused on a specific array of your financial objectives. The goal of the Financial Plan is to help you determine your critical financial needs over time and assist you in creating a detailed, integrated life plan for meeting those needs. There is an hourly rate for formal financial planning services outside of the percentage of assets under management fee which is charged for investment management. Before entering any relationship, it is important to us that the client understands our compensation structure with complete clarity and transparency.
Yes, Centerpoint Advisors uses Fidelity for custodial services, and they have agreed to send a statement to clients at least quarterly, indicating all amounts disbursed from the account including any fees paid to Centerpoint. We are, however, an independent registered investment advisor, which means that we maintain an open investment platform and are able to choose our investments from all sources. Our independent structure allows us to provide clients with a full range of investment options and portfolio construction tailored to meet specific needs.
We do have an Investment Management Agreement (“IMA”) to allow discretionary authority. On such accounts, a firm principal will work directly with the client to thoroughly explain the terms of the agreement to remove any ambiguity and provide comfort with the level of discretion granted. Clients can rest assured that Centerpoint adheres to a fiduciary standard, and will always act in the best interest of the client.
We invest a significant amount of time into our onboarding process not only to make sure that the prospective client completely understands our service model and philosophy, but also to be sure that the client is a good fit. We are very aware that personal attention to client needs is a great strength of our firm, and we do not want to hinder that strength by accepting clients beyond our point of comfort. We are happy to share the approximate number of clients as well as our AUM and average client size during introductory calls with prospects who we feel would best benefit from our services.