Financial Questions & Answers
RETIREMENT PLANNING FINANCIAL Q & A
Questions and Answers related to Dolphin Financial Group Services
What is a "Fiduciary"?
Being a fiduciary means we must put your best interests first. We must make sure all recommendations and advice align directly with what is best for you. This is a HUGE difference between another common standard in the financial world known as the “suitability standard.” Someone with a suitability standard can recommend something that isn’t necessarily in your best interest. We believe the fiduciary standard should be the one used by the person providing you financial advice.
What is an RIA or "Register Investment Advisor"?
A Registered Investment Advisor (RIA) is a company that is in the business of providing investment advice on securities for a fee. Individuals who works for an RIA are known as Investment Advisor Representatives (IARs).
What is a "Robo Advisor"?
A Robo-advisor is an automated investment management service. It provides guidance on how to invest and allocate your money using automated algorithm based software. There is usually little to no human interaction with a robo-advisor.
What is a "Bionic Advisor"?
A Bionic Advisor is a term used by Dolphin Financial Group to describe the service we provide to our clients who elect to use our Robo-advisor option. We call it “bionic” since you not only get access to the robotic side of the management, but also to the human side through your Dolphin Financial Group advisor. Many people like the idea of automated advice with the option to talk to a real person as needed.
What fees does Dolphin Financial Group charge?
We charge a fee depending on the service provided. Please feel free to request a price list which breaks down our common services and associated fees. The fees we charge to manage investments at Dolphin Wealth Management Inc. are between 0.25% and 1.0% of the total assets being managed. We also charge flat dollar amount fees for certain services such as constructing a comprehensive retirement plan, writing a due diligence report on a investment opportunity, or creating a custom report to help answer your financial questions. A short report might cost $50 while a comprehensive financial plan might cost $2,000. All fees are disclosed without obligation prior to any services being rendered. Our first appointments to learn about each other are always at no cost.
Why should we work with Dolphin Financial Group?
Dolphin Financial Group offers well-rounded financial advice and guidance. We acts in a fiduciary capacity, meaning we must act in your best interests. Since we are an independent company, we don’t have anyone telling us what we must offer our clients. You should work with us if you value a straightforward solution without any obligation or pressure.
Do you have account minimums at Dolphin Financial Group?
We do not have account minimums in order to work with Dolphin Financial Group. All are welcome to an initial meeting at no cost to determine if we can help.
What is the investment philosophy of Dolphin Financial Group?
The investment philosophy of Dolphin Financial Group can be summed up like this: With a well-rounded plan, making decisions will be much easier. The plan must include strategies to manage setbacks. Manage your income first. Don’t lose sight of what is truly important to you.
Do you work with people who are young and just starting out?
Yes. We do not have any account minimums and have established investment strategies designed for people at the beginning of their financial lives. Although we specialize in helping into retirement, it is never too early to start preparing.
Am I obligated to purchase the products you recommend?
No. There is never an obligation to implement the plans we recommend. If a product is suggested, it can be purchased from anyone you choose.
What type of investments or solutions does your advice cover?
We provide advice on most investment products and securities. This includes the traditional stocks, bonds, mutual funds, bank holdings, CD’s, annuities, insurance products. We also provide guidance on real estate matters, budgets and cash flows, 401k and 403b and other company retirement programs. We review insurance products such as life and health, disability, and long-term care. We also provide guidance on private placement equity and real estate deals. We provide guidance on many financial matters or guidance on where to go if it is beyond our expertise.
How much does a initial or introductory meeting cost?
We do not charge for initial meetings. This allows you and us to make sure there is a proper fit before going forward.
