Unlike a traditional financial advisor, we are legally required to be open, transparent, and accountable. Just like your physician or attorney, we always act with your best interests in mind.
As you search for the right advisor relationship, you may hear that you should be looking for a fiduciary advisor. What exactly does this mean?
What is fiduciary? Fiduciaries have a level of trust with clients because they avoid conflicts of interest. A fiduciary always has your best financial interests at heart. But be careful — most financial advisors are not true fiduciaries.
Non fiduciaries may recommend investments or products that pay them a bigger commission rather than those that would be the best fit for you. Not only does this cost you more in the long run, but will most likely provide the incorrect solution.
How can you tell? The easiest way to ensure your advisor is a fiduciary is to work with one who is a certified financial planner. The CFP code of ethics states that all CFPs “must act as a fiduciary, and therefore, act in the best interest of the client.”
Additionally, your CFP should be a member of NAPFA. NAPFA enforces rigorous standards to ensure their members are only compensated directly by their clients for their advice.
James Grennen is both a Certified Financial Planner (CFP®) and NAPFA-approved with over four decades of financial advisor experience.
No incentives. No commissions. We’re paid only by our clients -- no third parties are involved. This eliminates any surprises and conflicts of interest. Our sole source of compensation comes from the fees our clients pay us directly and transparently.
There are three models for financial advisors compensation:
How financial advisors earn their money matters. If an advisor is earning commissions by selling annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products, this creates a conflict of interest. At Woodhull Capital Advisors, LLC, we do not accept commissions or finder’s fees in any form.
Our dynamic solutions change over time to continually meet your needs and goals. This is a numbers driven quantifiable value. We put a strong focus on adding real, quantifiable value wherever and whenever possible.
We don’t currently manage investment assets. Instead we provide investment research and asset allocation models that surpass most investment managers.
Our main goal is to maximize your financial plan by minimizing taxes and investment expenses. We begin by discovering your capacity to tolerate investment risk using the most powerful risk profiling software available. Then we match your risk tolerance threshold to one of seven asset allocation models.
The seven asset allocation models are:
We update all our asset allocation models quarterly to ensure the original asset allocation remains in line with your risk tolerance threshold.
Fee-Only advisors are those who are only paid by the client. They do NOT accept commission on products sold, eliminating all conflicts of interest allowing unbiased and trustworthy advice.
Most traditional fee-only financial planners require earned income or investment asset minimums. This means their largest fee is based on an ongoing (monthly or quarterly) percentage of assets under management.
Hourly-only means we do not manage assets — eliminating another potential conflict of interest since the number of assets you have does not change your fee. And since we don’t have a minimum requirement for assets, we can help more people.
No. Since we don’t actively manage assets, there are no minimum account levels for you to meet.
Our flat-fee pricing is geared toward the complexity of your financial situation. For a better explanation of our fees and what you can expect, visit the Our Fees page.
Before we begin work on your financial planning, we will give you a firm quote for the hours we expect to spend.
Fee-based advisors make money through client fees as well as from financial products, commissions, referral fees, and incentives from third parties. Because of the potential conflict of interest, fee-based advisors may have difficulty putting the client’s interest above their own.
Fee-only advisors only earn money through the fees their clients pay. As fee-only financial advisors, Woodhull Capital Advisors receive NO commissions or any other forms of compensation from ANY outside sources. We are paid solely by the hours of service we provide.
Our typical office hours are from 9 AM - 5 PM, Monday through Friday, However, with the increasing shift to remote work, we do offer Zoom appointments for after hours and on weekends.
Depending on your needs, this can vary quite a bit. But on average the initial engagement might be 12-18 hours or about $3,360-$5,040. If you need us for just one or two hours, that’s all we bill you for. This option is for clients with specific questions such as “Which employer benefits should I take advantage of ?” The total cost will be based on the amount of time spent.
We offer a no-cost, no-obligation confidential consultation so you can see if we are the right fit for you. You can request a consultation on our Contact Page where we can learn more about your needs.
It’s hard to find a fee-only flat-fee advisor who offers all the investment advisor services we’ve described above, but we’re obviously not the only option. So, beyond the wide range of services we provide, we provide value-packed advice combined with unparalleled service to deliver quantifiable value.
Our job is to help you to take charge of your financial future. We’ll have an initial meeting to explore your interests, values, goals, personal and professional relationships, and assets. This allows us to create custom financial solutions tailored to your needs.
Next, we analyze the information we’ve gathered and develop your custom financial plan. When we design your plan, we put a focus on achieving and sustaining your desired lifestyle over the next few years and into a rewarding retirement.
Finally, we hand you a custom blueprint designed to help you meet your financial goals. You are empowered with specific recommendations to implement your financial plan.