Frequenty Asked Questions

The following are some Frequently Asked Questions

What financial planning education and experience does the president of the firm have?
Rick Fingerman has obtained the CFP® (Certified Financial Planner tm) designation and obtained a Diploma in Financial Planning from Boston University.  He also holds the CFS® (Certified Fund Specialist) designation from the Institute of Business and Finance. Rick is also finishing up course work for his CDFA® (Certified Divorce Financial Analyst) designation. He has been helping people make more intelligent decisions about money for nearly 20 years.  Needless to say, he has seen a lot.

What continuing education in financial planning do you pursue?
In order to maintain his CFP® designation, Rick must complete 30 hours of continuing education every two years. This includes 2 hours of Ethics every 2 years.  He also maintains separate regulartory requirements every year for FINRA (The Financial Industry Regulatory Authority).

Are you a member of any professional organizations?
Yes, Rick is a member of the Financial Planning Association (FPA) where he is a past President and Chairman and holds the current position of Liaison with Dana Farber Cancer Institute.

Do you have any disciplinary citations against you?
No, none. You can check the status of a planner under our "Forms, Documents and Useful Links" section.

Who will be responsible for my planning, a principal or an associate?
Rick is solely responsible for all financial planning advice as well as your custom written financial plan. He also oversees investment management of your funds if so desired.

What is included in your financial planning services?
We assist in the refinement of your goals and priorities and offer advice in the areas of cash management and budgeting, tax planning, investment review and planning, retirement and estate planning. We provide a written analysis of your financial situation and recommendations. This includes an action plan, which we will work with you on implementing, as appropriate. We will meet with you in person initially (If you live in Massachusetts or on the phone if you are out of state) with email and phone follow-ups as necessary. Generally, we work around your schedule and what is best for you.

What if I have a question or emergency when the office is closed?
Clients will receive my personal cell phone # upon request.  If for example, you are out looking at a house or car on a weekend and have a quick question, feel free to call. 

Does the service include recommendations for specific investments or investment vehicles?
Yes, for clients with investments we offer full plan implementation including advice on specific investments. Whether your portfolio includes Mutual funds, Exchange Traded Funds, Bonds, Stocks, Real Estate, CD's Annuities or other investment vehicles, we can help.

Do you offer continuous ongoing advice regarding my financial affairs, including advice on non-investment financial issues?
Yes, our role is to act as your advisor and we encourage you to email or call on us at any time. We much rather hear, "What do you think about..."  rather than..., "Hey, guess what I just did!"  In addition, we’ll provide you with updates throughout the year at your request. Any changes to your objectives as well as economic, tax or other developments will be addressed. Bear in mind, we don't offer detailed tax or legal advice.  However, check with us first as we may be able to save you time and money and direct you to the right place.

This all sounds great but what is the cost?

Depending on the complexity of one's needs determines the cost.  There are firms that have a set fee for a boiler type plan.  These plans tend to be generic in nature and generally do not illustrate the steps necessary for one to achieve their goals or desires.  Our plans are specifically written to your personal situation including our "Action Plan"  that points out the necessary steps required and equally important, 12 months of unlimited consultations to make sure the job gets done.  What good is a plan if it isn't implemented?  Whether it's a fee to help you manage your money or a personal written plan, all fees willl be fully disclosed ahead of time before we work together.

Do you take possession of, or have access to my assets?
When appropriate, we use National Financial Services, Inc. (NFS) an institutional division of Fidelity Investments to provide custody for client's assets. This allows us to implement and monitor the plan. (We would both receive statements) We also oversee direct investments held at individual investment companies. Otherwise, we are happy to advise on your full financial picture, regardless of custodian. This includes assets you may have in an employer's 401(k) or other retirement plan or CD's held at your bank.