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When Choosing a Financial Planner
To help you evaluate which financial services firm is best suited to your needs, the Certified Financial Planner (CFP®) Board of Standards developed the following ten questions, and our answers to the questions.
What experience do you have? What are your qualifications?
At Butterworth Financial Advisory, we have 30 years of experience building financial plans and helping clients reach their goals. Mark Butterworth is a Registered Investment Adviser representative with the Oklahoma Securities Commission. In addition, he has earned the distinction of holding professional designations as Certified Financial Planner (CFP®), Chartered Life Underwriter® (CLU), and Chartered Financial Consultant® (ChFC).
We utilize our Broker/Dealer Raymond James Financial Services for investment services. Founded in 1962, Raymond James is now one of the largest financial services firms in the country. Their stock is traded on the New York Stock Exchange (RJF). Our clients enjoy all of the benefits associated with a large securities firm, and have the added advantages of our independence. This allows us to use non-proprietary products, which may be more appropriate for our clients.
What services do you offer?
As a comprehensive financial planning firm and Registered Investment Advisor, we assist our clients in the following areas:
Additionally, we assist small business owners to plan for their companies’ futures—including company sponsored retirement plans.
And, we recommend outside professional services when appropriate, including practicing Certified Public Accountants and attorneys.
What is your approach to financial planning?
The process we utilize is about planning your financial future based on your values and desired quality of life. Many people have determined that their financial plan is something they can delegate while they spend time with their families or working on their small business. These are the kind of people we like our clients to be. Learn more about our process.
Will you be the only person working with me?
Because we utilize a team approach, we feel it is important for our clients to become familiar with each member of our team. We help you take care of your needs in an expeditious manner, and we will work with your existing accountant, attorney, and other advisors, and if needed, will recommend professionals qualified to assist you in these areas.
How will I pay for services?
We believe financial advisory firms should be fee-based, not commission or transaction oriented, because suiting our clients’ needs is our primary objective. With this approach, we combine our interests with yours as we monitor your potential wealth accumulation.
We provide all prospective clients with our most recent Form ADV Part II, which we file annually with the Oklahoma Securities Commission, and is a complete description of our services and fee schedule. Please contact us to request a copy.
How much do you typically charge?
During the planning and analytical stage of an engagement, we work on a previously agreed upon flat fee. A typical planning engagement will incur fees ranging from $2,000 to $5,000, or higher for more extensive work. For ongoing wealth management services, our compensation ranges between 1.15 and 1.75 percent of the portfolio value per year.
Could anyone besides me benefit from your recommendations?
We are proud of the fact that we work independently in providing recommendations to our clients. We maintain a relationship with Raymond James Financial Services, Inc. (RJFS, Member FINRA/SIPC). RJFS serves as a custodian of our clients’ assets and is one of the largest independent Broker/Dealers in the U.S.
Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?
The professionals at Butterworth Financial Advisory maintain excellent records, void of any disciplinary actions. Butterworth Financial Advisory is a Registered Investment Advisor with the Oklahoma Securities Commission, and fully complies with their prescribed regulations.
Can I have it in writing?
Absolutely. Prior to the engagement, we request that all clients sign an agreement letter that outlines the services to be provided. Furthermore, we provide all prospective clients with a copy of our Form ADV Part II either prior to, or at the first meeting. This document describes in detail the services we provide to our clients.
In summary, our firm has always believed in full disclosure and that is why we welcome questions such as these, which are presented by the CFP® Board of Standards, a non-profit, professional, self-regulatory organization.
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