Answers to all your
Frequently Asked Questions
Your advisor will be Robert Lindstrom, founder of Provision Financial Planning.
While your accounts are held at a large financial institution, our relationship will be more “small business” than “corporation”.
Robert sometimes uses “we” and “us”, including on this website. This is how he thinks of the business and refers to himself, the firm, and part-time support.
While the firm will grow over time, the intention is to remain a small boutique firm serving a limited number of clients.
Our client agreement is cancelleable at any time for any reason, so you are never locked into some contract.
Having an advisor that is a great fit is crucial. If for some reason you ever decide we are no longer a good fit for each other or we aren’t providing enough value, we’ll do our best to help you transition.
As a Fee-Only advisor, our only compensation comes from our clients, not investment or insurance companies.
Check out our pricing page for specifics.
Imagine you go to the doctor, and the doctor does not charge you (or your insurance) at all. Instead, the doctor is paid by the pharmaceutical company when you purchase a prescription. When this doctor prescribes you a medication, would you trust that this doctor is acting in your best interests? Fee-Only means that we do not sell any financial products for a commission, receive any referral fees or other revenue sharing. Unlike sales-based representatives, a Fee-Only advisor is ONLY compensated by the client.
This eliminates many of the conflicts of interest so prevalent in the financial industry.
The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with Clients.
The CFP® certification process, administered by CFP Board, identifies to the public that those individuals who have been authorized to use the CFP® certification marks in the U.S. have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients.
While Provision Financial Planning is a boutique independent firm, your money will be held at some of the largest financial institutions in the country.
Your actual investment accounts will be held at a 3rd party custodian that you have total control over. We are able to manage and service your accounts at your authorization that can be revoked at any time.
Currently, we use TD Ameritrade, Charles Scwhab and Altruist as custodians. In some circumstances, we can manage accounts at other institutions.
If you are wondering how safe the actual investments are, please review our investment management page.
Typically yes. There are some accounts we can’t manage but most clients are looking for someone to handle the day to day management of their accounts.
We will decide the asset allocation together and then PFP will manage the accounts from there based on the asset allocation target. This includes asset class mix, fund selection, rebalancing and trading.
We focus on the investor’s return and chances of meeting their goals rather than trying to beat the odds and guess which investments will outperform. Similarly, time in the market matters more than timing the market.
Check out our investment management page for more!
We have found that we are a great fit for someone retiring solo, whether you have lost a spouse, been through a divorce or have always been independent.
However, our expertise at the intersection of retirement and taxes could still be a good fit for you even if you are not retiring solo.
Take another look at our home page. If you think we could still be a fit, our “Becoming A Client” process will help you decide.
NAPFA is the country’s leading professional association of Fee-Only financial advisors-highly trained professionals who are committed to working in the best interests of their clients.
Only about 2% of financial advisors have been accepted for membership (WSJ).
NAPFA insists that every NAPFA-Registered Financial Advisor meet the highest competency standards. All NAPFA-Registered Financial Advisors must:
- Meet stiff credentialing and educational requirements
- Be primarily engaged as holistic financial advisors (rather than merely investment or tax advisors)
- Meet the most rigorous continuing education requirements in the industry
- Submit to outside professional review, to ensure that they do not have the conflicts of interest that commissions bring
- Submit a financial plan for review by peers before they can be admitted
NAPFA-Registered Advisors must also sign a Fiduciary Oath. See Robert’s here.
EA stands for Enrolled Agent. Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights.
This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.
An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee.
Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.