Who do you work with?
What are some of the advantages of using an independent firm?
Why is financial planning important?
How does Dougherty Wealth Management differ from other retirement planning firms?
How important is asset allocation?
What are your firm’s values and business philosophy?
How can your firm help people seek financial confidence?
How do emotions affect investing?
How often will you review my fee-based investment management accounts?
How often will you meet with me?
How often will you communicate with me?
What is your relationship to LPL Financial?
What information do you provide at year-end to prepare my taxes?
Are your fees tax-deductible?
Do all of your clients have the same objectives and financial goals?
What specialized services does Dougherty Wealth Management provide and why is that important?
What kind of anxieties do people have who are nearing retirement and how do you address these?
How can I get started?
Who do you work with?
The largest segment of our business is helping both pre-retirement and post-retirement clients. Having worked all their lives to accumulate assets to provide for a comfortable retirement, they understand the benefits of working with professionals who can help chart a retirement course that is created just for them.
We also work with many individual business owners and professionals.
Our clients come from a variety of backgrounds, but they have a few things in common. They’re educated and successful, and they’ve accumulated a fair amount of wealth they need help preserving and growing.
What are some of the advantages of using an independent firm?
Our independence is the greatest advantage we have over many financial planners, stockbrokers and insurance agents. When you work for one of the large brokerage firms or insurance companies, you may be highly encouraged to sell their high-priced, proprietary products. And this may not be in the best interest of the client.
In contrast, Dougherty Wealth Management is, first and foremost, an independent, fee-based retirement planning firm. We have no proprietary products or sales quotas.
Simply, we offer advice and provide service. When clients choose to implement solutions with us, we can literally pick and choose investment and insurance vehicles from many companies with virtually no restrictions. That’s how we are able to do what’s right for our clients.
Why is financial planning important?
Life is like a journey. On this journey, you may choose to wander aimlessly and allow fate to choose your ultimate destination.
We believe it is far better to take control of your financial life and choose a course where you want to go and what you hope to achieve. Educate kids. Buy a home. Start a family. Buy a vacation home. Retire early. Start a business. All these goals are easier to achieve with proper planning.
How is Dougherty Wealth Management different from other retirement planning firms?
We always tell people that “we’re large enough to serve them, yet small enough to know them.”
By far, our highest priority is providing impeccable client service. We understand that our clients have plenty of choices of where to do business. Yet they choose to do business with us because of our attention to detail and the exceptional service we provide.
When you call, you can expect and will receive prompt, courteous service. Efficient service along with sound advice consistently set us apart.
How important is asset allocation?
When you realize that whether or not you achieve your financial goals will depend, in large part, on how well you position your assets, you’d have to say it’s one of the most important decisions an investor can make.
Studies show that asset allocation accounts for nearly 92% of the overall portfolio performance, with stock selection accounting for only 4% and market timing accounting for less than 2%. All other factors account for less than 2%.
This clearly shows that how you allocate assets may actually be more important than the individual investments you choose.
The ultimate goal, of course, is a secure retirement. How soon you retire, how long the money will last, and in what style you retire can be greatly affected by your decisions and our guidance on asset allocation. We spend a lot of time in this area with our clients and systematically rebalance their portfolios back to their target allocation to help them reach their financial goals.
What are your firm’s values and business philosophy?
Aligning With Your Needs
First, we believe that any sound retirement strategy and investment plans must be tailored to and aligned with the specific needs of each client.
Therefore, we spend a tremendous amount of time listening in order to fully understand our clients’ objectives. Only then can we help them match their finances with their visions and goals.
Calling On Asset Allocation and Diversification
Second, we believe any wealth preservation or wealth building strategy must encompass asset allocation and diversification. The plan should provide solutions and peace of mind, and this is what we strive to help our clients achieve.
Building Trust
Finally, we establish business relationships that are based on the highest levels of trust, integrity and service. Simply, we know that our success is specifically tied to our clients’ success. Seeing our clients succeed is very important to us, and we take this responsibility seriously.
How can your firm help people seek financial confidence?
In a word it’s education.
In our opinion, the world is, and has always been, in an uncertain state. The difference is that now its gyrations are on the news 24 hours a day.
We can’t predict financial markets with any consistency. No one can. Our job, then, is to educate clients about the risks we can identify so that they can take appropriate actions.
We find that when you take the time to educate people they make smarter decisions.
How do emotions affect investing?
Money issues can create strong emotions. This is understandable. Our feelings of success, safety, and self worth are tied to money. Also, it impacts our lives tangibly with the freedoms it provides.
The trouble comes when emotions drive investment behavior.
Emotions often spark reactive, short-term decisions that end up being counterproductive to long-term financial security. The world’s instability, played out in the media daily, revs up people’s concerns about their financial future. The events that we’ve seen such as 9/11, the military campaigns that followed and national security issues – all can encourage people to make emotional decisions.
Through good times, and in challenging times like these, a competent advisor can serve as a “buffer” between people’s emotions and their investment behavior.
How often will you review my fee-based investment management accounts?
We have thorough processes in place to review accounts on a regular basis. When circumstances warrant, however, such as market irregularities or a specific need surfaces, we may review your account(s) more frequently and contact you immediately.
How often will you meet with me?
The simple answer is as often as you’d like.
Generally, clients like to get together to discuss their portfolio(s) and progress toward their goals on a semi-annual or annual basis. In addition, we encourage you to contact us before or when you go through a major life event such as retirement, a new job, a baby, a marriage, a divorce, or loss of a spouse and before making major purchases or starting your own business.
How often will you communicate with me?
We like to stay in touch with you a few times per month.
We have both email information as well as an informative client newsletter. Plus, we publish timely articles on our web site covering retirement planning topics. Also, we usually speak with our clients a number of times per year depending on the complexity of their situation and their individual preferences.
Some want more frequent contact and some desire less. It’s totally flexible and up to you.
What is your relationship to LPL Financial?
My office of LPL Financial is an independently owned and operated branch office.
I call on LPL for unbiased research and timely information about mutual funds, domestic and foreign securities, insurance, advanced college and tax planning, and more. LPL emphasizes complete independence for its branch offices. (It does not offer products of its own.)
What information do you provide at year-end to prepare my taxes?
Through LPL Financial we provide all tax reporting data via a comprehensive Form 1099 at year-end. By law, this must be mailed each year no later than January 31st. Plus, the LPL monthly statements contain gain and loss data for you to keep track of.
Are your fees tax-deductible?
Yes. The Internal Revenue Code permits an itemized deduction for tax, financial and/or investment advice in the miscellaneous section of your Schedule A. Please consult with your tax advisor for specific information and to determine your eligibility.
Do all of your clients have the same objectives and financial goals?
The short answer is no. That’s why no two retirement plans look alike. The approach we recommend is highly customized for each client based upon what they want out of their retirement.
What specialized services does Dougherty Wealth Management provide and why is that important?
We specialize in retirement planning. Simply, we have a deeper understanding of the complex financial and tax issues surrounding retirement, and that's what makes us valuable to our clients.
What kind of anxieties do people have who are nearing retirement and how do you address these?
People nearing retirement want to make sure they can have the lifestyle they've grown accustomed to in their peak earning years. We can show them steps necessary to help ensure that their golden years are filled with opportunity and flexibility, not compromise and sacrifice.
How can I get started?
