Ask Ed: Financial Planning Questions And Answers

Ask Ed: Financial Planning Questions And Answers

As the CEO of www.taxconnections.com, I had been searching for a top expert in Financial Planning. Once I read Ed Mahaffy’s book titled “How To Select A Financial Advisor: The Least You Should Know”, interviewed him, reviewed his video library, I knew we had the right person for this special financial planning series.

On Fridays, TaxConnections presents questions often asked of a Financial Planner. Although the majority of Ed Mahaffy’s clients have in excess of 1M in assets, Ed has made himself available to answer financial planning questions for our readers.

Dear Ed: Financial Planning Questions  

Question:  How can I determine my investment expenses?

Answer: Ask your financial advisor to identify, in writing, the total investment expenses incurred by your account last year and what portion – expressed in dollars as well as percentage – his firm received. Have him compare expenses to Vanguard index funds.

Question:  How can I identify any overlap among my investments and why does it exist?

Answer: Your financial advisor should be able to provide this information. The software is available.

Question:  What should I know about privately traded real estate investment trusts (REITS)?

Answer: Be careful. Privately traded REITS are illiquid and can have huge markups (undisclosed commissions). These are not to be confused with publicly traded REITS, which can be part of a cost-effective balanced portfolio. Sunlight cures many ills.

Do You Have More Financial Planning Questions? Ask Below Or

You can reach Ed Mahaffy directly at ed@clientfirstwm.com or call 501.603.0406

 

Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of my foundation of success.

Our approach is cost-effective and tax-efficient. As an independent investment advisor, we can offer you a personalized financial strategy, not a generic investment program. Your individual portfolio will be based on your unique situation, your values, your preferences and your goals. It will be designed to account for change, in the markets and in your circumstances.

As your professional partner, we’ll work hard to earn your trust and confidence, and provide the advice and service you deserve. Send me a note regarding any questions you may have about any particular investment concepts or products. We’ll get back to you quickly with a thoughtful answer.

Request A Copy of “How To Select A Financial Advisor” at

https://www.clientfirstwm.com/download-my-book

You can reach me directly at ed@clientfirstwm.com or call 501.603.0406

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