Frequently Asked Questions
How often do you meet with your clients?
During the first year of a new client relationship we would meet three to four times. After the first year, we schedule meetings twice a year to review your portfolio and cover financial planning topics. One of these meetings will also be dedicated to revisiting your financial plan and measure progress towards your financial goals. Throughout the year clients are encouraged to consult with us at any time and certainly as anything in their financial circumstances changes. Likewise, if we have a recommendation or discussion topic that should be discussed, we won’t wait for a scheduled meeting to contact you.
Regardless of the current meeting schedule, all clients receive quarterly reports detailing asset allocation and performance, and have secure online access to view their portfolio at any time.
Do you do tax returns, estate planning, or sell insurance?
While we have extensive experience in these areas, we do not prepare tax returns, design estate plans, or sell insurance. However, we have cooperative (non‐financial) relationships with reputable accountants, attorneys, and insurance professionals. Boardwalk’s relationships benefit clients in three ways. First, we use one another as a resource to keep updated on these specialized practice areas. Second, we provide quality referrals to clients in need of a particular expertise. And lastly, we work together to integrate planning opportunities (e.g., tax and estate planning strategies) for clients.
Is Boardwalk Financial Strategies affiliated with any organizations such as a brokerage firm or broker/dealer?
Boardwalk Financial Strategies is an independent RIA, and is not owned by, or part of a larger institution. As an independent RIA, we have no conflicts of interest, and the only compensation we receive is from our clients. We do not accept or receive commissions or fees of any kind. The firm does have a preferred custodian (TD Ameritrade), however there is no financial relationship whatsoever.
Does Boardwalk Financial Strategies have custody of client assets?
Client assets are held at the preferred custodian and not by Boardwalk Financial Strategies. Clients receive statements and trade confirmations as desired and have online access to account balances and activity at any time. Boardwalk Financial Strategies only has access to place trades and deduct management fees. We do not have the ability to transfer funds outside of the custodian without your direct approval.
What are your accreditations/professional qualifications?
Not all designations and credentials are created equal. Some require as little as a day to achieve – those most highly regarded, take much more. We encourage you to utilize FINRA’s professional designations tool to learn more about the various letters after a professional’s name. Here is a sampling of those we feel are most valuable for an independent RIA, and those held by Boardwalk Financial Strategies advisors.
The Certified Financial Planner™ (CFP®) designation is a professional certification mark for financial planners administered by the CFP Board of Standards. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements.
The Chartered Financial Analyst® (CFA®) is a qualification for finance and investment professionals, particularly in the fields of investment management and financial analysis of stocks, bonds and their derivative forms. The program focuses on portfolio management and financial analysis, and provides general knowledge of other areas of finance. To become a CFA charterholder, candidates must pass each of three six‐hour exams, possess a bachelor’s degree and have four years of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct.
Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.
What is your typical client size?
Our typical client has between $1 million and $5 million of investable assets (including retirement plans such as a 401(k)) or on a savings trajectory to reach this level within a few years. Please contact us to discuss your individual situation. If either party decides it may not be a good fit, we are happy to make a referral to another advisor.
I don’t live in Wisconsin, can I still work with you?
Absolutely. Boardwalk Financial Strategies has clients in many states. To ensure a mutually beneficial relationship, please contact us to discuss your situation during your initial consultation.
What is a Registered Investment Adviser (RIA)?
A Registered Investment Adviser (RIA) owes a fiduciary standard of care to clients. That is, the adviser has a legal obligation to put the client’s best interest ahead of their own. RIAs are regulated by state securities regulators or by the Securities and Exchange Commission (SEC) depending upon assets under management. RIAs must adhere to rigorous compliance requirements and are subject to examinations by securities regulators.