Frequently Asked Questions

Is Five Rivers Financial Advisors a fiduciary and why is that important to me?

Yes, Five Rivers is a fiduciary which means we are obligated to always act in your best interests and place your needs ahead of ours, providing the highest level of integrity, professionalism and transparency. This differs from the suitability standard which permits any number of recommendations as long as they fit the client's broad profile. Acting in the client's best interest at all times is not required. 

What is a CFP®?

The CERTIFIED FINANCIAL PLANNER® is recognized as a standard of excellence in personal financial planning and is earned by professionals who have fulfilled the training, experience, and continued education requirements. For more information about the CFP® certification, please visit https://www.letsmakeaplan.org

How does a financial advisor get paid?

We get paid in two ways. First, comprehensive financial planning is a one-time fee to complete the financial planning process. Second, for portfolios we manage on behalf of our clients, we charge an asset management fee stated as a percentage of assets being managed.

What is fee-only financial planning and why should I care?

"Fee-Only" means that the only person that pays us is YOU. As an independent Registered Investment Advisor, we are not tied to any sort of proprietary investment products and do not receive any commissions. This ensures our recommendations will always be in your best interests and will never be incentivized or biased in an adverse way.   

What is Comprehensive Financial Planning?

Comprehensive Financial Planning involves a deep analysis of every financial planning category to develop a thorough understanding of your individual situation so that we can provide the most accurate and appropriate recommendations. You wouldn't schedule a major surgery after a single 30-minute phone call... and your financial life shouldn't be any different. 

Do I need to be extremely wealthy to work with a financial planner?

Absolutely not. There is no magic number to achieve before becoming qualified to work with a planner and people across all stages of life can benefit.  If you're feeling behind, that's all the more reason to take action. The best time to plant a tree is 10 years ago; the next best time is now.

Is there a fee for the initial meeting?

The first meeting is complimentary and is a "get to know you." The most important step at the beginning of a successful relationship is to make sure we're a good fit for each other, all expectations are established and understood, and that no questions are left unanswered.

Ok, I'm ready to take the next steps. What now?

Give us a shout! Phone... email... whatever works best for you.