FAQs Personal Services
Here is a list of Frequently Asked Questions. Please click the question to reveal the answer. Is your question not listed? Feel free to contact us.
Q: How do I become a client?
A: Simply make an appointment for an initial meeting by calling our office at 812-333-4726 or click here to email us.
Q: Is there a cost for an initial meeting?
A: No. We do not charge for initial consultations. Our first meeting is designed to be a no pressure opportunity for you to “kick the tires” and learn more about how we work with our clients. We do not make any decisions at this meeting about working together. It is simply a chance for us to get to know each other and helps both of us determine if there is a good fit.
Q: What do I need to bring to an initial consultation?
A: Nothing. This is designed to be an informal meeting for us to simply get to know each other.
Q: How long do meetings last?
A: The initial meeting normally lasts 45 minutes to 1 hour. For subsequent meetings, plan on 1 hour to 1.5 hours.
Q: What is the cost involved in working with your firm?
A: We work with the majority of our clients under an advisory-based arrangement where our cost is a calculated using a percentage of the assets held and managed with our firm. This is the ONLY cost you will pay as a client in an advisory-based arrangement. There are no additional charges for investment planning, investment trades, or account fees. Additionally, we are not compensated from any of the investments that we recommend in our advisory-based arrangement. This cost depends on the size of your investment assets. During our initial meeting, we will review our fee schedule with you.
Please note that advisory programs may not be appropriate for all clients.
Q: Do you receive commissions?
A: No. We are a fee-only advisory firm and as such, we do not receive commissions. The only source of compensation we receive is from fees paid directly to us from our clients.
Q: If I decide to become a client, what will I need to bring for the discovery meeting?
A: As part of our Coordinated Financial Overview™ (CFO) process, we have created a simple booklet (hard copy and electronic formats available) that contains a list of items we would like to review and initial questions we would like to discuss.
Q: If I decide to become a client, which advisor will I work with?
A: Everyone at Hurlow Wealth Management Group works as a true team. Every client has full access to the entire team. Often times, clients may gravitate to one advisor for questions, but the entire team will know your situation and you will always get a consistent message from each team member.
We meet as a team every Monday morning to review all meetings from the previous week to make sure all follow up work is being completed and everyone is updated on the client’s situation. We also review upcoming meetings and assign action items to each team member so we are fully prepared for our meeting with the client.
Q: What type of investments do you recommend for clients?
A: Before recommending any investments, we will work with you to develop a comprehensive plan so that we fully understand your needs, goals, comfort with risk, and other important factors. We then recommend an asset allocation strategy (how much to place in stocks, bonds, cash, and alternatives). For each asset class (category of investment), we carefully analyze whether to use stocks, actively managed mutual funds, or passive mutual funds/ ETFs. For each asset class, our decision will depend on cost vs. value, tax efficiency, and your comfort with each investment. For more information about our investment philosophy click here.
Q: Do you prepare tax returns?
A: No. We are not tax or legal advisors. However, we work closely with our clients’ CPAs and accountants to make sure both of us are on the same page. We have current tax returns on file for the majority of our clients so that we can monitor their income, carry forward capital losses, and other important items on their tax return. This helps as we are recommending tax-advantaged savings strategies and coordinating tax loss harvesting in taxable accounts.
Q: Do you prepare estate planning documents?
A: No. We are not legal advisors. However, we work closely with our clients’ estate planning attorneys to make sure we are on the same page. We feel that our job is to organize your financial affairs, discuss and educate you on various estate planning topics, and then work with your estate planning attorney to create the estate plan and associated documents. We often times attend meetings with our clients and their estate planning attorneys so that the attorney can ask us questions about our clients financial affairs and direct us after the plan has been created to change account ownership and beneficiary designations if necessary. We have copies of current estate planning documents on file for the majority of our clients.
Q: If, at any point, I am not happy with the service provided by Hurlow Wealth Management Group, is there a cost to leave?
A: No. You may fire us at any time. Your monthly fee will be pro-rated and any overpayment will be returned.