are certification
marks owned by Certified Financial Planner Board of Standards Inc.
These marks are awarded to individuals who successfully complete CFP
Board's initial and ongoing certification requirements.What makes Northern Financial Advisors Different and how does this make a difference for you?
Northern Financial Advisors offers a one-stop, fully comprehensive and fee-only financial planning system that is tailored to meet the needs and achieve the goals of individuals and families at the various stages of their financial life.
With this important context in mind, we can now look at the specific elements and services that have made us an on-going and important component of our clients’ financial life.
refers to a specific method of compensation in which financial planners are compensated exclusively from the fees paid by their clients. They specifically choose not to accept commissions, kick-backs, finder’s fees or compensation from any other source.This is significant and important because earning one’s living by selling products or services for which a commission is paid, leaves the financial planner with an inherent conflict of interest. When paid exclusively by the client, the financial planner’s advice can be solely guided by the best interests of the client and the client’s needs and goals.
It has been our experience that individuals coming to us for financial planning, have sometimes had a financial plan drawn, that is to say, have data collected, analyzed and delivered as a glossy product that really looks good on a mahogany shelf or lacquered coffee table. Our approach to financial planning is to focus on the process rather than the product. As such, we have structured our fee to be an open-ended retainer. This allows our clients to call us or come in to see us at any time during the year. This access is over and above the regularly scheduled appointments and at no additional fee. Our view is that we would much prefer our clients call us for a small conversation in advance of making a financial decision rather than afterwards, when a considerable amount of time, energy and effort may be needed to unravel a disastrous decision.
All personal financial advisors are professionals, holding either the nationally recognized designation of CERTIFIED FINANCIAL PLANNER™ (CFP®) or its equivalent, usually with advanced credentials. These advisors serve our clients in a fiduciary role, meaning it is their responsibility to consider your financial interest first and foremost. Finally, each Licensed Advisor receives rigorous academic training before joining the team and on-going coaching with senior advisors and through professional trade organizations after they begin to see clients.
When we are working on one single aspect of your financial life, we always recognize and pay attention to the variety of implications for all other areas of your financial affairs. Purchases and sales of investments have tax consequences. Certain insurance decisions may have investment implications. Buying a new home may impact your plans to fund your child’s education. All these examples and many more show just how common it is for one change in your finances effecting and impacting many others. This synergy can be harnessed and brought to bear in advancing financial plans, or left unmanaged, may create unanticipated negative consequences. Our services are comprehensive and synergistic.
A recent survey conducted by the Phoenix Companies and reported on Business Wire (August 27,2002) states that 36% of high net worth individuals had a formal financial plan and they fared better financially than those without one. History certainly has shown us again and again that starting with a plan that can be altered as conditions warrant is a much more effective strategy in navigating through the choppy waters of bear and bull markets. Our clients don’t just get some formal, written plan that gathers dust. Our clients are given exceptional access to professionally trained and financially astute advisors who can see and implement the big strategic picture even while being responsive to the particular and specific hopes, dreams, aspirations and needs of each of their clients.
CFP®, CERTIFIED FINANCIAL PLANNER™ and are certification
marks owned by Certified Financial Planner Board of Standards Inc.
These marks are awarded to individuals who successfully complete CFP
Board's initial and ongoing certification requirements.