Frequently Asked Questions
What is a CFP?
The Certified Financial Planner™ certification is the standard of excellence in financial planning. CFP professionals meet rigorous education, training and ethical standards, and are committed to serving their clients' best interests as fiduciaries. Learn more at Investopedia.
How are you paid?
We are fee-based financial planners - and sit on the same side of the table as our clients when it comes to earning money. When our clients do well, we do well and earn fees. We do not sell proprietary products and do not receive commissions or payments in this manner.
Are financial plans custom?
Plans are always designed exclusively for each and every client or family to meet their individual needs and goals. Every recommendation is framed in the greater context of the designed plan in pursuit of these goals. Plans are not static and we work with clients to adjust them as their lives and priorities evolve.
What’s a fiduciary? Are you fiduciaries?
A fiduciary acts solely on the best interests of their clients with a duty to preserve good faith and trust. A fiduciary has a legal obligation to put their client’s interests ahead of theirs and the responsibilities and duties are both legal and ethical. Here at Great Lakes Wealth Planning, we operate under a fiduciary standard and take the responsibility of serving our client’s best interests seriously.
What if I only need a little help or just want to get started?
We encourage you to reach out for a complimentary consultation. Even if you’re not ready for a comprehensive plan, our Guided Wealth Portfolios can help you get started with a customized proposal, along with recommendations and access to our algorithm-based digital investing platform. Plus you have live access to our team of advisors - something you don’t get with a robo-advisor. Learn More
What are your investing values?
Investing and portfolio allocations are critical to the success of one’s financial goals, especially if they are hoping to retire or leave a legacy for their family. Unfortunately, investing is complicated. Over the years we have come to understand that most people do not understand the technical aspects of investing, but certainly understand the importance of saving and investing. Our primary purpose is to do the hard work of understanding the markets in relation with the ever-changing domestic and global economies and then using that information to help position our client’s investments to meet their financial goals. We like to say - we take the complicated and make it understandable for our clients.
Why do you work with LPL?
LPL is the largest independent broker dealer in the country*, meaning they can help us facilitate excellent account servicing for our clients. LPL does not offer proprietary investment products or engage in investment banking activities; this means advisors affiliated with LPL are not pressured or influenced by LPL to sell its products. As a firm, they are driven by the value and benefit provided to the end client - you, and what is in your best interests. Just like GLWP.
*as reported by Financial Planning magazine, June 1996-2022, based on total revenue.
How accessible are you?
When you call our office, you’ll reach a live person, not an automated menu. Our advisors are always available to take our client’s calls or answer questions. We’re also accesible digitally! Send us a message.
What if I live in another state?
We have clients in many states and meet many of them remotely through video conferencing. We are currently licensed to do business in California, Colorado, Florida, Illinois, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, North Carolina, Nevada, Ohio, South Carolina, Texas, Virginia, and Wisconsin.