FAQ's
- What is the first step in deciding if working with FAI is what's best for me?
Well, we think part of your decision will be based on whether you feel the right "chemistry" with our team. So why not give us a call, ask for one of our Advisors and we can have a chat, see what kind of help you are looking for, and if you are interested. Then we can make an appointment for your no-obligation visit with us whenever it's convenient for you. Or contact us, telling us a little about yourself, and one of us will get back to you.
- Much of our savings is in my 401(k). How do you deal with this?
No problem. Because employer-sponsored plans often have limited investment choices, we build your Investment Plan by starting with those options, then we work on the more flexible portions to get a total portfolio balance that's appropriate to your situation and to our view of market opportunities.
- How do I know if I have saved enough to retire?
That's a really important question, because if you decide a year after you retire that you should have worked another couple years, it's probably too late! To avoid that problem, you and our staff will take a realistic look at your spending requirements (now and when you're retired, which can be quite different) to build a personal Long-Term Cash Flow Model that let's you see year by year how your financial life is likely to work out. We can run several models including one in which you retire today and one where you wait a few years. The answer usually jumps off the page!
- How do I get money when I need it. And from which accounts?
Glad you asked both questions together. Many of our clients receive a regular monthly distribution from their investment accounts into their personal checking account… just like a direct-deposit paycheck. Which account(s) it comes from depends on our appraisal of the tax efficiency and our clients' preference about whether it comes from "his" or "hers"! When money is needed for occasional purposes most clients have a checkbook that draws on their money market account. It's all very easy, and we're always here to work out any special needs.
- I have never had to pay for financial services. The fee sounds like a lot of money.
You are right. It is a serious amount of money so you want to be sure that; a) the fee is competitive and b) that you are getting the service you deserve. Our fee is very competetive within our industry AND it includes all the planning and consulting work we do as well! As far as getting your money's worth, we like to think you cannot find better service, better communication or a more savvy and creative investment team anywhere. But in case you should ever become unhappy with our work, our written agreement gives you the privilege of resigning any time for any reason or no reason at all.
- How long is the first meeting at FAI?
Normally, we schedule every meeting for two hours. It may take more time, it may take less time depending on what you would like to go over.
- How long has Financial Advantage, Inc. been in business?
Financial Advantage, Inc. was started in 1987 by J. Michael Martin. To view a more detailed company timeline, please look at Company History.
- How do I get started?
You can get started by calling (410) 715-9200 or by contacting us through email. We will be happy to answer any questions you may have about our company and our philosophies, and how they might suit your needs. At our first meeting, we can discuss your goals and priorities, your current financial situation, and whether our services are right for you and your family.
