Client Focused Financial Interview

Dan Westfall

Dan Westfall

Client Focused Financial Interview

Common Financial Management Interview Questions

If I were someone looking for a financial advisor, knowing everything I know about the industry, these are the main qualifying questions I’d ask:

  1. What are your qualifications?
  2. What makes your firm different?
  3. How do you make money?
  4. What is your investment philosophy?
  5. What is comprehensive financial planning?
  6. How long of a process is Investment & Financial Planning?

 

Let’s take each one of these questions one at a time, so you can learn important details on how Client Focused Financial functions. After reviewing these answers, it should be clear why CFF is a preferred choice when it comes to financial planning and investment management.

 


 

What are your qualifications?

Education:

  • Insurance Licensed
    • Life
    • Health (Includes Long-Term Care & Disability Insurance)
    • Personal Lines
  • Series 65 License (Registered Investment Advisor)
  • CFS® Certified Fund Specialist®
  • CFP® CERTIFIED FINANCIAL PLANNER™
  • Bachelors of Science Degree, Finance Major, York College of PA

 

Ethics:

Client Focused Financial and myself, Dan Westfall, have never been sued or had any formal client complaints filed against.

 


What makes Client Focused Financial different?

1. Independent

I don’t work for some big bank or investment institution. I work for my clients. That’s what being independent is all about. I use TD Ameritrade to custody investment assets and leverage their great technology.

2. Customer Service

This is one of my main focuses and why I titled the firm “Client Focused.” I feel that the investment industry, as a hole, doesn’t do a great job with customer service. I manage people’s life saving. They should have my cell phone number and feel free to text or call me whenever they have a question.

I reach out to meet with clients every 6 months for a 1-on-1 investment review. I also create a video each month called the Market Review. (The latest market review video can always be found at the top of Video page.) This is also emailed to each client directly, so they can get my take on what is going on in the stock market, the economy, and how it affects their money.

There is no Client Focused Financial without the core value of customer service.

3. Credentials

Not all financial advisors are credentialed. The CFP® is the highest designation, when it comes to financial planning. The CFS® is geared towards portfolio management and how to best structure portfolios using funds like ETFs and mutual funds. I have both of these credentials.

4. Fiduciary to the Client

A fiduciary to the client means always acting in the best interest of the client without having any conflicts of interest with the clients goals & objectives.

5. No Product Bias

I do not sell products. Many advisors sell investment products as opposed to properly managing a portfolio using investment tools. Those types of advisors are more like salespeople vs true financial advisors, like me.

6. Comprehensive Financial Planning

Comprehensive financial planning is an involved process of creating a road map to reach client goals. This takes time, but I believe it is a valuable resource to clients reaching and maintaining their financial goals.

 


How do you make money?

Fee ONLY. No Commissions or Hidden fees

Total Household Deposits 
Annual % Fee 

$1-$249,999 

1.6% 

$250,000- $499,999 

1.4% 

$500,000- $749,999 

1.2% 

$750,000- $999,999 

1.0% 

$1,000,000- $1,999,999 

0.75% 

$2,000,000- $2,999,999 

0.50% 

Financial Plan 

$20/month 

 


 

What is your investment philosophy?

I believe that active management is the true value an investment manager can bring to the table. If a financial advisor is going to buy and hold index funds with your money, don’t use them. The same goes with buy, hold, and rebalance. Do it yourself and save the fee.

Active management can help reduce risk and increase returns, taking advantage of the market swings over time. I use technical and fundamental analysis to manage client portfolios.


 

comprehensive financial planningWhat is comprehensive financial planning?

  • Standard of Living – Budget
  • Risk Management – Life, Disability, Long-Term Care Insurance
  • Investments Planning
  • Retirement Income Planning
  • Estate Planning
  • Tax Planning

 


 

How long does the process take?

  • Initial Conversation
  • Propose Plan
  • Review Plan (answer questions, comments or concerns)
  • Implement the Plan
  • Annual (at minimum) Portfolio and Performance Review

 

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