Frequently Asked Questions

Planning with an Advisor is very important not only for yourself but for generations to come. You are already busy with life and adding on management of finances and a plan can be very overwhelming. Think of it as going to the doctor for annual check ups to make sure your body is on the right path for longevity and health. If the doctor sees a problem, you work together to implement a plan to correct the issue. Planning should be the same to make sure your money last as long as you are around. We can work on adjusting and implementing a plan that suites your needs or a specific goal since life is busy.

You can most certainly pick and decide which route you would like to go. We offer both solutions for you but that does not mean you have to do both. If you would prefer that we help with a financial plan and you keep your investments where they are we can do that. Same with the investment management side. Ideally, we would love to help you with both pieces since they work in cohesion but we are more than happy to help with which ever piece you need.

56 Capital Partners charges either a flat fee for a comprehensive financial plan or we charge a percentage of assets under management. Our fees will always be in writing ahead of time. We like for our clients to know what they are being charged ahead of time so there is not any confusion on this subject.

*Each fee is established on a per case basis

You can go view the advisors history at a few sites. If they have certain designations you can pull those up on those particular web pages (CFP, etc.).
www.brokercheck.finra.org/
www.adviserinfo.sec.gov
www.cfp.net
www.ltc-cltc.com

The definition of a fiduciary is "one that holds a fiduciary relation or acts in a fiduciary capacity." Check out our blog on this hot topic to see our point of view on a fiduciary.

https://56capitalpartners.com/blog/

That could not be more incorrect! We work with clients all over the country and all over the world. We are more than happy to adapt to your preferred method of communication. We like to video chat and even often travel to see clients throughout the year. Which ever way works for you works for us!

The CFP® certification marks identify professionals who have met the high standards of competency and ethics established and enforced by CFP Board. CFP Board's Code of Ethics and Standards of Conduct requires CFP® professionals to act in their clients' best interests.

Today more than ever, CERTIFIED FINANCIAL PLANNER™ professionals are an essential resource. From budgeting, to planning for retirement, to saving for education, to managing your taxes and your insurance coverage, "finances" doesn't mean just one thing for most Americans - and "financial planning" means much more than just investing. Bringing all the pieces of your financial life together is a challenging task. Although many professionals may call themselves "financial planners," CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards. They understand the complexities of the changing financial climate and know how to make recommendations in your best interest.

You have heard the acronym CFP thrown around but had no clue what it meant. In the world of planning and finance there are so many certifications it is hard to tell which one an advisor should have. First off, your advisor should be licensed in the state and be able to trade certain products. It is always a good idea to check that on www.brokercheck.finra.org. The most significant certifications a planner should have really depend on what you are looking to do. If it is a financial plan then CFP (Certified Financial Planner), CFA (Chartered Financial Analyst), and many others are a good starting point. It is difficult to pinpoint just one certification because planning encompasses so many aspects. So make sure to research if they have initials behind their name to determine what that certification is and if it will help you!

A common question when reviewing your investments is asset allocation and diversification. There is for sure a difference between the two. We find that most clients only know about diversification and even then their understanding of it is a bit off. Asset allocation is used as an investment tool to help balance risk vs. reward based upon your goals, how risky you are and how many years you intend to invest. In layman's terms are you Aggressive, Moderate or Conservative. Diversification is a tool used to help minimize risk in an investment portfolio by allocating those investments throughout various financial instruments, industries, etc. A common misconception is the more stocks you have the more diversified you are, but that is not the concept. You do not want to put all your eggs in one basket!

We leave no stone unturned in financial planning since it entails all aspects of your finances. Financial planning ranges from investments, budget, home purchases, kids college, social security, retirement, insurance and so much more. We can make it as simple as you want or as complex as you want. It does take some work on the clients end to gather all the documents we need to prepare a plan for them, so be ready for a homework assignment. We will roll up our sleeves and dive into the finances of life and work with you to help achieve your goals. We do require a few meetings in the beginning but once we have everything and have a plan in hand we only ask that you meet with us once a year unless there are life changing events (home purchase, a baby, etc.).

We love this question! The difference between the two is that financial planning involves all of your financial decisions, dreams and goals in life while retirement planning involves the one goal of retirement. Retirement planning is just a piece of an overall financial plan where we help you determine when you can retire, approximately how much money you will have going into retirement and what you want as your income in retirement. You can always tell us that you only want the retirement planning portion of the financial plan if that is your desire but as part of the financial plan we always include retirement planning as a main piece.

Keep it! As part of our Investment Management service, we can review the stock and make sure you are not suffering a loss or the company is secretly going bankrupt just to keep your best interest in mind. We have a platform that allows us to hold a wide array of products so check with us to see if you can and if it fits within your plan!

No! We are here for the long haul in your life and plan on having a 30 year relationship with your family and you. We always thought that age was a hindrance but have found that it is actually a great asset. We get to watch our clients grow in their careers, retire and watch their kids take over the legacy. Our job is to offer you the best service along with a lasting relationship. If we do not like you we will tell you that up front and you should do the same with us!

If something were to ever happen to the team at 56 Capital Partners we have a succession plan in place. Whether it's one team member that has an accident, or all of us at once, we will make sure that you receive the same level of service. We have a business continuity plan and estate documents in place that will help in this transition. If all team members were to pass in an accident, then Interactive Brokers will still maintain your account, so your funds will not move. At that point you can decide to stay with Interactive Brokers or move elsewhere.

All of the websites we use have security measures and banking level encryption in place for example; two factor authentication, etc. Some of our outside resources have E&O Insurance to cover if there ever was a breach in security. Our team at 56 Capital Partners practices the standards of PII (personally identifiable information) by password protecting documents, verifying clients before transactions are initiated and so on. We know how important your information is so we will go above and beyond to prevent any outside entity or person from stealing that information. Please note though that even the most secure systems have issues but we will try our best to help navigate through that if the time ever comes.