What is a fiduciary? How is that different than other investment or retirement planners?

Fiduciaries are legal entities that are ethically and legally responsible to act in the best interest of the party they represent, in this case the investor. Fiduciaries who do not satisfy this legal obligation can be both criminally and civilly liable for their actions. The vast majority of financial planners and stock brokers are NOT fiduciaries.

In order to be certified as a fiduciary, there are additional applications and legal requirements that must be satisfied for financial planners. What it does mean is that we are obligated to show you every charge, fee, and movement of your money, with 100% transparency, and to back up our actions with justification. CAM made the executive decision to become a fiduciary, and as of January 1, 2019, have moved all of our managed accounts to this type of arrangement.

What are the fees?

Our fees range from .95% to 1.50% per year, depending on account size, type, and complexity. Financial Planning starts at just $250 for our tailored financial plans and that price increases with additional complexity or needs. Transparency is one of our most vital assets and we believe financial planners should always be up front with their fee structure.

What happens if I need my money right away?

There are a wide variety of savings and retirement planning tools, several of which allow you access to your money in case of hardship or emergency. We understand real life happens, and we’ll work with you to try and make the best financial decision possible in these cases.

Do I need a lot of money to get started with investing/retirement planning?

The short answer is no. Investing and planning for your retirement is something everyone should do, regardless of your income. Planning earlier in life makes it much easier to make those goals a reality. We want to work around your lifestyle so you can enjoy your time today and in the future.

Can I just start planning for retirement when I get older?

You can start planning whenever you want, there is no right or wrong age. The good news about starting earlier is that time and compound interest will be on your side, which means your money will be worth more later in life, and you can save less now. It may be uncomfortable, but it will make retiring much easier the earlier you start saving.

Why should I save money for retirement if I could be using it now?

Croak Asset Management takes a different approach to investing and retirement planning. We like to make sure that your financial future is secure now, and in the long term. We’ll work with you to get you into a financial plan that makes sense, paying down debts and saving a little here and there which will add up over time. There are also various tax benefits and employee contributions we can maximize to make sure you’re getting the most bang for your buck.

What do the advisor designations mean?

The Croak Asset Management Team has made it our goal to become experts in all forms of investment and retirement planning, so we can give you, our client, the best advice possible. To that end, we have secured the following credentials to back up our advice with real world knowledge. Some of our important designations include:

 

CFP- Certified Financial Planner

CLU- Certified Life Insurance Underwriter

ChFC- Certified Financial Consultant

Series 7 Licensed- General Securities Representative License

Series 66 Licensed- Investment Advisor Representative License

What else do you do besides financial planning?

CAM’s philosophy has always been to make financial and retirement planning as easy and convenient as possible for our customers. To that end, we’ve brought together the best professional resources to help cover all your bases, including:

 

  • Financial planning
  • Investment management
  • Retirement planning
  • College/family financial planning

 

  • Estate planning
  • Life insurance
  • Tax planning
  • Personal finance consulting

While you aren’t required to use any of our products or services, we encourage you to develop a comprehensive financial plan for your future, utilizing the tools CAM provides to all our clients.