When does FWI meet with clients?

We meet with clients on Tuesdays, Wednesdays and Fridays 9 a.m.- 5 p.m. PST. Meetings will be held virtually or in person if you live in the Los Angeles area. We realize that you’re busy and sometimes it’s hard to meet within these days and times; however, we also believe that you can always make time to meet for something as important as your financial future.

If I’m planning with someone, do we both have to come to the meetings?

Yes. Since financial planning affects both parties involved, we prefer to meet with couples together for every meeting. If your situation is unique, we can address this in our Discovery meeting and decide upon the best course of action.

How often do we meet?

In the initial Financial Planning process, we’ll meet for a series of three meetings in the first month to develop and implement your financial strategy. From there, we will have a review call in the second and third month to continue working on your financial goals and adjusting the strategy as needed.

What are the steps in the financial planning process?

Month 1:

  • Discovery meeting
  • Data meeting
  • Strategy meeting
  • Action meeting
Month 2 and 3:
  • Review meetings

What happens once we’re done with the initial financial planning process?

Once we complete the initial Financial Planning process, we’ll continue to work together in the Ongoing Financial Planning relationship. In this service, you will continue to have access to us via email/phone and we will continue to meet every quarter to update your financial plan and strategy as your life changes. This is the time to address all the changes in your life, amend the plan as needed and continue tracking your progress to hold you accountable toward your financial goals.

How does FWI charge for financial planning services?

We charge an upfront fee for our initial financial planning services. This allows us to create a solid, comprehensive plan for you to implement at the beginning of our relationship and the opportunity to be available to answer any financial planning questions that may arise in between our meetings, which allows you as a client to always feel like you can call or email us at any time.

Do I actually get a financial plan?

Yes, as a Financial Planning client you will get a written financial strategy. But while the financial plan is important, it is not where the most value comes from. We believe the most value comes from our relationship and your access to us as your personal financial planners—someone who can act as a partner, educator and guide to help you plan out your financial future and work toward your financial goals.

Can I call or email FWI with financial questions at any time?

When you engage in the Financial Planning relationship, you have ongoing access to us via email and telephone during the term of our engagement, so we can help you address any additional questions (within reason, of course!). Should your entire situation change or should you want to discuss something entirely new, additional fees may be assessed.

What if I am not ready for comprehensive financial planning?

That’s OK. The reason for our initial Discovery meeting is to determine if you are ready for Financial Planning and if it is a good fit for us to work together. If we discover together that it’s not right for you, we can discuss other services or options that may be a better fit for you.

How can I set up a budgeting system that actually works?

We will work together to create a spending plan that identifies all your current income and expenses. We’ll teach you how to use this custom spending plan on a regular basis to track your money and ensure you are being conscious with your money.

Will FWI tell me how much I can spend every month?

We will create a spending plan that highlights exactly what you are making and spending every month, and educate you on healthy ratios for your spending. However, we will not tell you what you can spend your money on. That’s your choice. We will show you what you need to do to reach your financial goals so you will be able to make educated decisions on how to spend or save your money every month.

How much should I be saving?

We’ll identify how much you will need to save to reach your goals and work together to find the balance between living for today and saving for the future. We encourage clients to aim to save 10-20 percent of their gross income. However, every client is different and at a different stage in life, so we’ll tailor this range based on where you are in life and the financial goals you have.

My significant other and I have never planned our finances together. Will FWI help us find a good system to manage our money together?

Yes. Part of our financial strategy will be developing a system to help you track income and expenses both as individuals and as a couple. We’ll review the various options you have to manage your money more efficiently as a couple.

Will FWI help me understand my accounts now?

Yes, we will help you understand what’s currently happening in your financial life. This means that we’ll review the types of accounts you have, talk about how to read the financial statements you receive and make sure your accounts are working efficiently and effectively for you and your financial goals.

Will FWI help me set up my bank accounts?

It depends. As part of the financial plan, we will review the structure of your current cash accounts and analyze your emergency fund needs. From there, we’ll discuss how you can structure your cash accounts and, if necessary, open up new cash accounts. We will assist in the decision process and educate you on how to open up these new accounts if needed.

What if I have debt? Will FWI help me with that?

Yes, we will help you create a debt management strategy as part of the comprehensive financial plan. From there, if you need additional debt-management services, we will work to connect you to the appropriate professional who can help you further.

Does FWI draft estate documents for me?

No. We are not attorneys, so we do not draft any estate documents. However, we will work with you and an estate planning attorney to help you understand what estate planning documents you may need and educate you on the importance of them and why you need them. We work with a handful of qualified estate planning attorneys in the Los Angeles area and can always refer you to a few who can help you with your estate planning needs.

Will FWI help me apply for insurance?

Yes. As a financial planning client, we’ll get a better understanding of what types of insurance you may need based on your current financial situation and financial goals and recommend the appropriate types of insurance policies to protect yourself, your family and your assets. We refer our clients to Low Load Insurance which offers disability, life and long-term care insurance and other insurance professionals for additional types of insurance policies.

Can FWI help me manage my investments, too?

We will help you manage your assets based on your specific financial goals by referring you to other investment institutions and professionals who can help you carry out the recommendations from your financial plan.

I am clueless about investing. Can FWI teach me what I need to know?

Yes. Part of our role as financial planners is to educate you on the importance of financial planning and make recommendations; this includes investing. We’ll educate you on your options to ensure that you’re comfortable making investment decisions. If you’re already investment-savvy, we’ll discuss my investment philosophy and determine if it’s a good fit.

How to I start investing?

If you have no investing experience, we’ll help you get started by educating you about your investment options. Within the comprehensive financial planning process, we will define, together, what financial goals you are investing for and create an investment approach that is right for you.

What is FWI's investment philosophy?

We believe investment management is an important aspect of the financial planning relationship and view your investments as just a portion of the overall financial plan. We will help you manage your assets based on your specific financial goals by referring you to other investment institutions and professionals who can help you carry out the recommendations from your financial plan.

Does FWI help me pick my investments for my 401k plan?

We will help you understand the investment philosophy and portfolio allocation you should follow for your 401k account. However, since we cannot manage your 401k, we cannot actually provide you specific advice on this account.