common questions about financial planning
At Pay It Forward Financial Planning, we believe everyone deserves to have transparent answers prior to working with us. Below, you’ll find answers to some of the most common questions we receive about our fee-only services and financial planning process. If you don’t see your question here, reach out to us—we’re happy to help.
about our firm
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What Differentiates Pay it forward financial planning?
Our firm is different than most financial planning and wealth management firms because we focus on serving a specific group of people: individuals that are community-focused. This approach has allowed us to focus our services toward nonprofit professionals, educators/administrators, and charitable-minded individuals.
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Are you a fiduciary?
Yes! Matthew is a CERTIFIED FINANCIAL PLANNER® and is legally required to act as a fiduciary when providing financial advice. This means that your best interests are placed first and any conflicts of interest must be disclosed to you.
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what does fee-only mean?
A fee-only planner means that my compensation is from flat ongoing planning fees and investment management fees. I do not receive any commission or kickback from a specific financial product.
You can check out our fee schedule here by scrolling to the pricing section located at the bottom of the webpage
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do you have asset minimums?
No! I do not believe that financial advice is only for those that have a certain level of investible assets. We work with a wide array of clients. We’ve helped some individuals open their first IRAs, while other clients are multi-millionaires. At the end of the day, we are focused on bettering the lives of those committed to making our community a better place, regardless of your current net worth.
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why did you start pay it forward financial planning?
My mom was a huge inspiration in my life, and she was constantly volunteering with various organizations until her passing in 2021 from lung cancer.
Since then, I thought about creating a financial planning firm that would focus on serving people like my mom.
If you’re interested, you can read my blog post where I talk about her impact in greater detail.
our planning process
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What does your financial planning process look like?
We believe in following the CFP Board’s 7-Step Financial Planning Process.
Our introductory meeting focuses on a high-level discussion of your current situation and what you’d like to change about it.
After becoming a client, our initial meetings focus on your values, how we can align your money to those values, and reviewing all your relevant financial documents.
Our onboarding process wraps up with a collaborative conversation on planning recommendations and which recommendations will receive our highest priority.
You can visit our homepage for more details!
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How long does it take to create a financial plan?
Our goal is to have your initial financial plan completed within 90 days of signing your Client Agreement.
However, your financial plan will need constant updating, which is why we have a structured client service calendar.
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Do you offer in-person or vitual meetings?
We offer both!
Many of our clients prefer to meet virtually via Microsoft Teams.
In-person meetings can be scheduled on a per-client basis. We are predominately a virtual practice, so in-person meetings can be scheduled at various locations.