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Who is Premier Financial Planning, Inc. (PFPI)?
How long has PFPI been in business?
What is Fee-Only?
What is a Registered Investment Advisor (RIA)?
What is a CERTIFIED FINANCIAL PLANNER ™ Professional?
What is a Form ADV Part 2A and 2B?
Who can benefit most from your services?
Do I need a certain net worth in order to work with PFPI?
What do you provide advice for?
How much are your services?
Is your fee tax deductible?
How can I get started?
How long will it take to set up an appointment?
What are your office hours?
Will I meet with the planner?
Are you willing to act as a fiduciary?
Will you answer the NAPFA questionnaire?
I understand the benefits of working with a fee-only financial planner, but what if I need to obtain financial products? How will I be able to do that?
How do you select investments for a money management client?
What is your investment philosophy?
As a money management client, how often will I get reports from PFPI?


Who is Premier Financial Planning, Inc. (PFPI)?
Premier Financial Planning, Inc. is a fee-only, personal financial planning firm registered with the New Jersey Bureau of Securities (NJBOS) as a Registered Investment Advisor (RIA). BACK TO TOP


How long has PFPI been in business?
Constance Herrstrom started PFPI in 1994. She has over twenty years experience as a financial planner and investment advisor. BACK TO TOP


What is Fee-Only?
Fee-only refers to a financial planner paid solely by you, the client, for financial advice. This avoids significant conflicts of interest that can arise if your financial advisor accepts commissions or receives any other compensation when recommending specific financial products. Constance Herrstrom is a member of the National Association for Personal Financial Advisors (NAPFA), a national organization that promotes the concept of fee-only financial planning and requires member adherence to this central tenant of its charter. BACK TO TOP


What is a Registered Investment Advisor (RIA)?
An investment advisor is a fiduciary whose duty is the undivided loyalty to its clients and who must deal fairly and honestly with them. Any person or entity that provides advice and holds itself out as offering financial planning and receives compensation must be registered. A Registered Investment Advisor is a representative of the client who, for compensation, engages in the business of advising as to the value of securities or the advisability of purchasing or selling securities. RIAs are required to register with the SEC and in certain states. BACK TO TOP


What is a CERTIFIED FINANCIAL PLANNER™ professional?
A Certified Financial Planner™ professional is an experienced planner who has completed courses of study and passed examinations in areas such as retirement and estate planning, insurance, investments, and taxes. Additionally, a CFP® is required to disclose ethical standing and comply with the CFP Board Code of Ethics. The CFP certification is awarded by the Certified Financial Planner Board of Standards. It can only be maintained by meeting on-going education requirements. BACK TO TOP


What is a Form ADV Part 2A and 2B?
This form is the document used by Registered Investment Advisors (RIAs) to register and update registrations with the SEC and the state jurisdictions that require advisors to register. The form is also used to comply with SEC Rule 206(4)-4, which obligates investment advisors to disclose relevant financial and disciplinary information to clients; such information includes the planner’s qualifications, fiduciary duties, history, and how the RIA conducts business. You should always ask to see a planner’s Form ADV Part 2A and Part 2B when considering their services. We would be happy to send you a copy of our form at your request. BACK TO TOP


Who can benefit most from your services?
Anyone seeking financial peace of mind can benefit from our services. We serve people at all income levels, from all walks of life.


Do I need a certain net worth in order to work with PFPI?
No. You do not need to be a high net worth individual to work with us. We recognize that everyone, regardless of their financial situation can benefit from our financial planning services. BACK TO TOP


What do you provide advice for?

If it pertains to your finances, we can help. We provide advice on budgeting, cash flow issues, mortgages, 401(k) and 403(b), as well as other retirement programs, stock options, life and disability insurance, and more. We also provide advice for all types of securities, including mutual funds, stocks (as they relate to your portfolio holdings), bonds, bank deposits, variable and fixed annuities, etc. Clients are encouraged to call us if they have a major life event, such as a new job, a marriage or divorce, a baby, starting their own business, buying a home, etc. BACK TO TOP


How much are your services?
Since each client is unique, a comprehensive plan fee will be set based on the level of service required, issues involved and financial complexity. This flat fee will become part of a signed Financial Services Agreement. A range for you would be determined in the initial, no-charge consultation. For engagements of limited scope, after the plan, an hourly rate may be employed.

After the initial financial plan, for those clients who use our on-going financial planning and investment management services, an Investment Management Agreement is prepared outlining the terms. We charge a percentage of the assets under management (between 0.50% and 1.50%, calculated on an annualized basis with one-fourth paid each quarter), depending upon the market value of the assets under management. In certain situations, a retainer fee (assessed annually) is more appropriate and is quoted after the initial plan.
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Is your fee tax deductible?
It depends. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of the Schedule A. Certain restrictions apply, such as deductions subject to a 2% floor of the adjusted gross income on a personal tax return, itemized deductions phase out, source of funds used for the fee, etc. BACK TO TOP


How can I get started?
The first step is an initial inquiry from you. Contact us here, or call (609)-924-2424 to receive a packet of informational material and set up your initial, no charge consultation. From there, should we mutually agree to work together, we would discuss what next steps might be appropriate for you and take it from there. Most clients find the financial planning process to be stimulating and enlightening. The end result is greater peace of mind. We look forward to helping you identify the alternatives for the lifestyle you choose and then working towards the one that offers the best chance for happiness and success. BACK TO TOP


How long will it take to set up an appointment?
Of course it depends on our current workload but generally we will schedule your initial appointment within two weeks from your call. Once we agree to work together, the time it takes to finish your financial plan depends greatly on the complexity of the plan, but a good rule of thumb is to complete the plan within two months. If circumstances dictate, we can work with you to expedite this timeline. BACK TO TOP


What are your office hours?
Our normal office hours are Monday through Friday, from 9:00AM to 5:00PM. In order to accommodate your schedule, we also offer early evening hours (by appointment only) Monday through Thursday. BACK TO TOP


Will I meet with the planner?
Yes. All clients, financial planning and investment management, meet with PFPI’s planner, Constance Herrstrom, during their planning process. BACK TO TOP


Are you willing to act as a fiduciary?
Yes. We hold ourselves to the fiduciary standard and as such we are obligated to act in your best interest and be proactive in our disclosure of any conflicts of interest that may impact you. As a National Association of Personal Financial Advisors (NAPFA) member, we are not compensated in any way except by the client. BACK TO TOP


Will you answer the NAPFA questionnaire?
For your convenience we have already filled out the questionnaire and can mail, fax or email it to you upon request. BACK TO TOP


I understand the benefits of working with a fee-only financial planner, but what if I need to obtain financial products? How will I be able to do that?

While PFPI does not sell financial products, we offer specific recommendations to our clients regarding the purchase of various products that may be appropriate for them and can charge a fee for the buying or selling of those products. Furthermore, we can help you coordinate the trading with other financial institutions. BACK TO TOP


How do you select investments for a money management client?
We evaluate an investment based on its performance relative to others in its asset class. We recommend those investment vehicles that are most appropriate to meeting the client’s objectives, while being mindful of total expenses and risk exposure. Before using any investment, we look at the current economic conditions, the outlook for the specific asset class or security type and how this investment fits within the client’s portfolio. BACK TO TOP


What is your investment philosophy?
The design of the portfolio must take into account the client’s financial objectives, risk tolerance, income or liquidity needs as well as any other special considerations. The important thing to remember is that no one can predict the future. Investment and economic "experts" provided with the same information often come to different conclusions. We do not suggest that we or any of the money or mutual fund managers that we recommend will make the correct decisions every time. We do believe, however, that the appropriate allocation of investment assets for your goals and risk tolerance is the most important component in developing a portfolio. When appropriate, we use tactical asset allocations to provide greater portfolio protection. We also believe that a diversified, well balanced portfolio, following long-term strategies, and having patience, will increase the likelihood that you can achieve your long-term financial objectives. BACK TO TOP


As a money management client, how often will I get reports from PFPI?
In addition to the trade confirmations and statements sent on a monthly basis by the account custodian (usually Charles Schwab), we provide comprehensive, customized quarterly reports. Updated reports can be sent at anytime upon the client’s request. Clients with Schwab accounts can access their accounts 24/7 through the Schwab website. BACK TO TOP

 

711 Executive Drive, Princeton, NJ 08540 / 609-924-2424

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