Choosing a financial advisor often comes with questions. Here are answers to some of the questions we hear most often about working with Spohn Partners, our planning process, and what you can expect from an ongoing advisory relationship.

Getting Started

Who is a good fit for Spohn Partners?

Spohn Partners works with individuals and families who value an ongoing relationship with a financial advisor and want their financial planning, investment planning, and tax planning to work together.

Many of our clients are retired or approaching retirement, while others are still building toward that next chapter.

What our clients tend to have in common is a desire for thoughtful advice, professional investment planning, tax-aware guidance, help implementing financial decisions, and a direct relationship with their advisor.

For new relationships, we generally work with individuals and families with $1 million or more in savings and investments. We also recognize that assets alone don't determine whether a relationship is a good fit.

If you're unsure whether we're the right fit, an Introductory Conversation is a good place to start.

How do I get started?

The first step is an Introductory Conversation.

We'll discuss what's prompting you to reach out, your goals and priorities, the questions or decisions currently on your mind, and what you're striving to accomplish.

It's also an opportunity for you to learn more about how I work with clients and ask any questions you may have.

If it makes sense to continue the conversation, the next step is a Planning Discussion.

What happens during the Planning Discussion?

The Planning Discussion is the next step after our Introductory Conversation.

During this meeting, we'll take a deeper look at your financial situation. We'll discuss your goals and priorities in greater detail, and I'll walk you through what I see, the planning considerations that stand out, and how I would think about them.

The goal is to help you better understand the opportunities and considerations that may shape the path forward. It also gives both of us a chance to determine whether an ongoing advisory relationship makes sense.

Is there a charge for the Introductory Conversation or Planning Discussion?

No. There is no charge for the Introductory Conversation or Planning Discussion.

During the Planning Discussion, I'll share my initial observations, discuss the planning considerations I see, and give you a sense of how I would approach your situation.

If we decide to move forward, that's when the comprehensive financial planning, implementation, and ongoing advisory work begin.

Becoming a Client

What happens after I become a client?

That's when the more comprehensive planning and implementation begin.

We'll develop your financial plan, implement your investment strategy, incorporate tax strategy analysis into important financial decisions, and put recommendations into action.

From there, the relationship is ongoing. We'll continue to monitor your financial plan and investments, revisit assumptions, evaluate new opportunities, and refine the strategy as your circumstances evolve.

When appropriate, I'll also work alongside your CPA, estate planning attorney, and other professionals to help keep the different parts of your financial life coordinated.

How are you compensated?

Spohn Partners charges an advisory fee based on the assets managed through Spohn Partners. Financial planning, investment planning, and ongoing advice are included as part of your advisory relationship.

I do not receive commissions for investment recommendations, and Spohn Partners does not use proprietary investment products.

We'll review the applicable advisory fee with you before you decide whether to become a client.

Are you a CFP® professional and fiduciary?

Yes. I am a CERTIFIED FINANCIAL PLANNER® professional and fiduciary in advisory relationships and am committed to acting in my clients' best interests.

That professional obligation is important to me, but I also believe clients should experience it through thoughtful advice, clear explanations, direct access, and an ongoing relationship with someone who understands their financial situation.

Transitioning to Spohn Partners

Will transferring my investments to Spohn Partners create a taxable event?

In most cases, transferring your investments to Spohn Partners does not create a taxable event. Investments can often be transferred in kind, meaning they move to the new account without being sold.

Once the assets are transferred, I'll review your existing investments before making changes. If investments need to be sold or repositioned, we'll consider capital gains, losses, and other potential tax implications before making those decisions.

If I transfer my assets, where will they be held?

Client accounts are held with LPL Financial. LPL Financial provides the custody, trading, technology, and operational infrastructure supporting accounts managed through Spohn Partners.

Your relationship and financial advice remain personal: you work directly with me on your financial planning, investment strategy, and ongoing financial decisions.

Your Ongoing Advisory Relationship

Is financial planning included?

Yes. Financial planning is an integral part of the ongoing advisory relationship rather than a separate, one-time service.

I believe financial planning, investment planning, and tax planning work best when they are considered together. Your financial plan helps provide the framework for your investment strategy and the other financial decisions we make together over time.

How do financial planning and investment planning work together?

Your investment portfolio shouldn't exist separately from the rest of your financial life.

Your goals, income needs, tax situation, time horizon, and tolerance for risk all help inform your investment strategy. As those things evolve, your investment strategy may need to evolve with them.

That's why we approach financial planning and investment planning as parts of the same ongoing relationship.

How do taxes factor into your recommendations?

Many important financial decisions have tax implications.

We incorporate tax strategy analysis into the planning process so those implications can be considered alongside your investments, retirement income, estate planning strategies, and other financial decisions.

Depending on your situation, that may include areas such as Roth conversions, retirement withdrawals, required minimum distributions, capital gains, charitable giving, Medicare/IRMAA considerations, and tax-aware investment strategies.

Tax planning often works best in coordination with your CPA or tax professional. When appropriate, I'll work alongside them so the planning and tax advice are considered together.

How do taxes factor into the way you manage investments?

Taxes are one consideration in how we build and manage investment portfolios, particularly when managing taxable assets.

Depending on your situation, that may include which investments are held in different types of accounts, tax-loss harvesting, managing capital gains, the use of municipal bonds when appropriate, and making investment changes with the tax consequences in mind.

The goal isn't simply to minimize taxes. It's to make investment decisions with an understanding of their after-tax impact and how they fit within your broader financial plan.

Do you prepare tax returns?

No. Spohn Partners does not provide tax preparation.

We incorporate tax considerations and analysis into the financial planning process. When appropriate, I'll work alongside your CPA or other tax professional on decisions where coordination is helpful.

Do you work with my CPA and estate planning attorney?

Yes, when appropriate.

Financial decisions often overlap with tax and estate planning. I'll work alongside your CPA, estate planning attorney, and other professionals when coordination can help keep the different parts of your financial life working together.

How often will we meet?

There isn't a one-size-fits-all meeting schedule.

The frequency of our meetings will depend on your needs, circumstances, and what's happening in your financial life. We'll have regular planning and review conversations, but we'll also meet or talk when decisions arise that shouldn't wait for the next scheduled review.

What happens when I have a question between meetings? Is there an additional cost?

Reach out.

We've intentionally built Spohn Partners as a high-touch practice. When an important financial question or decision comes up, you have direct access to me. You don't have to navigate an 800 number, work through a call center, or figure out who to contact.

I am your primary point of contact. Behind the scenes, my team and I work with our dedicated LPL service team to help support your accounts and get things handled. You benefit from the resources and support of a large financial organization while maintaining a direct, personal relationship with the advisor who knows you and your financial situation.

Ongoing questions and guidance are part of the advisory relationship; there isn't a separate charge each time you call or have a question.

Personal Advice. Direct Access. Clear Accountability.

Disclosure:

Advisory services offered through LPL Financial, a registered investment advisor. All investing involves risk including loss of principal. No strategy assures success or protects against loss.