1. What differentiates you from other financial advisors?
Specialization - We specialize in working with time-constrained executives to optimize the value of their company provided benefit plans including stock options, restricted stock, deferred compensation and other benefit programs. Significant first hand business and personal finance experience in dealing with the same issues our clients face every day as they seek to achieve their financial goals and improve their financial position. Independent – We are not affiliated with any broker/dealer, insurance or other financial services company. As such, we have no obligation or incentive to recommend a specific company’s products or services.
Fee Only – We do not receive commissions or sales fees from third parties. Our advice to clients is not influenced by how much we may make from the client implementing our recommendations.
Adherance to a fiduciary oath – We adhere to the National Association of Personal Financial Advisors (NAPFA) Fiduciary Oath . This means that we put the client’s interest before our own when making and implementing recommendations. Adherance to a code of ethics – We adhere to both the NAPFA Code of Ethics and the CERTIFIED FINANCIAL PLANNER™ (CFP®) Board’s Code of Ethics. These codes define the principles and rules by which we operate our business.
2. How are you compensated?
Our only compensation is the fees paid to us by our clients for the services we provide. We do not sell any products nor receive commissions from product recommendations. Please see our form ADV for more specific information on fees and compensation. Our form ADV can be accessed by entering our firm's IARD/CRD number of 147097 on the SEC's Investment Adviser Search web page: http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_OrgSearch.aspx
3. How long does the initial planning and implementation process typically take?
For most clients the initial planning and implementation process takes one to three months to complete from the first call. More complex situations may require more time. Often the planning and implementation schedule is driven by client availability, document turnaround time, and the amount of time clients need to make important decisions regarding the various options available to them in developing and implementing their financial plan.
4. Is Avalon Financial Advisors a wealth management firm?
Yes, Avalon Financial Advisors is a wealth management firm. Our services include coordinating and administering a broad range of financial affairs for individuals and families.
5. Is Avalon Financial Advisors an investment management firm?
Yes, Avalon Financial Advisors is an investment management firm that provides ongoing management of clients' investment portfolios. As part of our comprehensive service offering, we review existing client investments, provide recommendations as to portfolio allocation and composition, effect recommended changes, regularly monitor investment performance and re-balance the portfolio as warranted.
6. What is the difference between wealth management and investment management?
Investment management services are focused on managing the client’s investment assets while wealth management services are more comprehensive and include providing ongoing advice and management of a mutually agreed upon range of financial affairs for the client.
7. Do you prepare income tax returns?
Avalon Financial Advisors does not prepare tax returns for clients. However, Andy McVay and his wife Dawn own and operate a separate tax practice doing business as Maguire, McVay & Co. All tax return preparation and audit representation services are separately provided and billed by Maguire, McVay & Co. Likewise, Maguire, McVay & Co. does not provide financial planning or investment/wealth management services to clients.
8. What is NAPFA?
The National Association of Personal Financial Advisors (NAPFA) is an organization of fee-only financial planners that promotes some of the strictest guidelines for professional competency, ethics, comprehensive financial planning, and Fee-Only compensation. With more than 1,300 members across the country, NAPFA is the leading professional association in the United States dedicated to the advancement of comprehensive, fee-only financial planning. For more information about NAPFA, please visit http://www.napfa.org/about/index.asp
9. What does Fee-Only mean?
A Fee-Only financial advisor is an advisor who, in all circumstances, is compensated solely by the client, with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product. A NAPFA member or affiliate may not receive commissions, rebates, awards, finder's fees, bonuses or any form of compensation from third parties as a result of a client's implementation of the advisors recommendations.