FAQS | About Retirement Planning and Wealth Management

Are you a Certified Financial Planner™ (CFP®), and will I always work with a CFP® at Wharton Wealth Planning?

Yes. At Wharton Wealth Planning, LLC, you will receive the attention of an experienced, credentialed professional who is both a CFP® and MBA. Our financial planners are CERTIFIED FINANCIAL PLANNER™ practitioners. CFP® professionals have met extensive training and experience requirements and take a holistic, personalized approach to bringing all the pieces of a client's financial life together.

Who do you work with?

Retirement involves many complex tax and investment details. This is why we specialize in advising clients who want to prepare for retirement (in the near or more distant future) and those who have already retired.

What is your fee structure?

We can work with clients in three ways: (1) asset management on a continuous basis (2) flat-fee financial planning basis (3) one-time flat-fee investment portfolio review basis. We work with you to manage the complex and multiple facets of your wealth and to meet your specific financial goals.

Investment Management fees are computed at an annualized percentage of assets under management on a sliding scale as follows: $1,000,000 to $2,999,999 - .90%; $3,000,000 to $4,999,999 - .80%; $5,000,000 and above - .70%. More information is available upon request. As a fiduciary advisor, we have a straightforward and transparent fee structure with no hidden fees or agenda and no sales pressure.

What services do you provide for your clients?

Investment Management Services

Retirement Planning and Income Strategies

Tax Planning Strategies

Comprehensive Financial Planning

Is your firm a fiduciary financial advisor?

Yes, we are a fiduciary financial advisor and planner. We are not affiliated with any brokers, banks, or insurance companies, and work only for you under a straightforward and transparent fee structure. As a fiduciary, we are independent, objective, and commission-free. A fiduciary standard obligates us to act in good faith and put your interests ahead of our own.

What can I expect from my relationship as an ongoing client of Wharton Wealth Planning?

A continuous one-to-one relationship with an experienced certified professional with decades of experience

Prompt responses to your phone calls and emails (within 24 hours)

Proactive changes and rebalancing within your wealth management program

Availability for ad-hoc planning meetings

24/7 website access and pricing updates to your financial accounts and statements

Planning around major life changes

Easy electronic account funding & withdrawal process

Online private and secure document folder (with encrypted data security) to share, organize, and store important information

Do you offer a complimentary initial consultation?

Yes. We provide prospective clients with an initial 30-minute Zoom call or telephone conversation. We use an initial consultation to discuss what specific areas you would like help with and to determine if your financial needs are a good fit for our services. During the introductory meeting, we also may discuss your current financial situation, future goals, and concerns and we will also answer your questions regarding Wharton Wealth Planning’s services. If there is a fit, we are happy to schedule an hour appointment to meet in person at one of our offices.

If I do not want a full financial plan can we still work together?

Yes, we offer investment consulting services to clients seeking investment advice on a non-continuous basis. Under this arrangement, Wharton Wealth Planning will review the client’s investment return expectations, risk tolerance, time horizon, and income requirements to ensure they are aligned with his/her financial profile and objectives. If deemed to be in the client’s best interest, we may recommend that the client reallocate his/her investments according to our asset allocation framework. We will not manage or exercise investment discretion or trading authority over these client portfolios.

Portfolio review fees are based on the size, number of holdings, type of holdings, and complexity of a portfolio.

How will reimbursement for the financial plan fee work if we choose to work with you on a continuous basis?

If you elect to use our investment management service within 12 months after the presentation of the financial plan, then the stand-alone financial plan fee paid will be deducted from the investment management fee.

What is a fee-only financial advisor?

The basic concept around the term fee-only advisor is that this type of advisor only can receive compensation directly from the client for services provided. In other words, fee-only advisors do not receive sales-related compensation or commissions from their employer or third parties (like fund companies).

What is your process to create a financial plan?

To create your financial plan, we will use a secure planning platform (RightCapital) to get organized (link accounts, budgeting, cash flow, retirement goals and dates, etc.). We will work to incorporate all information that you share about your personal and financial goals and concerns. We'll build, revise, and adjust your plan to show numerous scenarios (and alternative scenarios) forward, along with our recommendations. At that point, we can determine your best path and the correct action steps.

One of our major objectives is to ensure that our clients' investments are optimized while reducing their overall tax burden.

What areas do your tax planning services focus on?

We weigh current and future tax considerations and analyze thousands of detailed financial projections to make personalized and comprehensive recommendations that will help you succeed and focus on long-term tax minimization. Some common tax planning areas we may focus on (depending on the client's background and circumstances) include:

After-Tax Investment Return Optimization (match specific investments and strategies with optimal accounts)

Municipal Bond Investing (tax-free income)

Tax-Efficient Exchange Traded Fund (ETF) Investment Selection

Roth Conversions

Roth and Backdoor Roth Accounts

Health Savings Accounts

Required Minimum Distribution Strategies

Retirement Account Contribution Strategies

Tax-Efficient Sales for Concentrated Equity Positions

Employer Compensation Tax Management and Planning (Restricted Stock Units (RSU), Employer Stock Purchase Plan (ESPP))

Tax Loss Harvesting

Social Security Taxation Optimization

Qualified Charitable Distributions (QCDs)

Donor Advised Funds (DAFs)

Estate Planning Tax Minimization Strategies

Do you typically work on a virtual basis with clients? If I am not located near your offices, can we still work together?

We can work with clients as a Virtual Financial Planner by using secure, on-line video conferencing technology and file sharing. Working with a Virtual Financial Advisor enables clients to meet with us when it is most convenient for them and minimizes travel time and paper waste.

What security measures does your firm take to safeguard clients?

We maintain physical, electronic and procedural safeguards and conduct ongoing reviews to protect personal information. Our financial planning software provider uses data security featuring 2048-bit asymmetric encryption and 256-bit symmetric encryption, so your personal information is very secure.

As a fiduciary, we always put our clients’ interests first. We adhere to the Fiduciary Standard, which consists of a duty of loyalty and care. More can be found on our privacy policy here.

Will I be able to view my accounts online whenever I want if I choose to work with you for investment management services?

Yes. You will be able to view your account whenever you wish and you will receive quarterly statement and other performance updates throughout the year. We use an independent third party to custody your assets for safety and security purposes. We personally oversee and guide you all the way on the account transition process from another advisor (custodian) to make sure it goes smoothly.

How do I get started?

Our process is to schedule a no-obligation thirty-minute initial meeting to review a client's current situation and goals. If you decide to proceed, simply upload a list of requested information and documents to a secure online portal using a checklist we will provide. When the plan is complete, we have a one- to two-hour conference to review the plan, including a list of areas of opportunity and concern as well as follow-up action steps we recommend.