FAQ
- Why use a Financial Advisor?
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Investing, when done properly, is a long term commitment requiring research and measured analysis. Emotions must be kept level when approaching the investing arena. Many a fortune has been destroyed by decisions made in a moment of fear or an instant of fearlessness. A financial advisor is trained to maneuver with deliberation through the increasingly complex financial markets with their client's financial plan and well-being in mind.
- Why should I choose a fee-only advisor?
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As a fee-only investment manager, Tobias Financial Advisors is beholden to no one other than our clients, totally independent from outside sources; our only compensation comes from our clients. "Fee-only" means that we receive no other compensation other than the fee you pay; we do not sell products. This arrangement does not provide an incentive for the advisor to make recommendations for the purpose of generating a higher commission and ensures that our recommendations are made with your best interests at heart!
- What is the CERTIFIED FINANCIAL PLANNER™ certification?
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The CERTIFIED FINANCIAL PLANNER™ certification is a professional certification (no federal or state law or regulation requires financial planners to hold CFP® certification) that represents a high level of professional education which requires passing an examination with 89 financial and legal topics, fulfilling experience and education metrics, and acting in an ethical manner. Anyone can call themselves a financial planner but an individual who has earned the CFP® mark has passed a rigorous examination and is held to a fiduciary duty. This duty means that we as CFP® practitioners are legally obligated to provide our clients with the "highest standard of care" possible.
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- What is a Registered Investment Advisor?
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A registered investment advisor is a firm that is registered with the state in which it does business, or with the Securities Exchange Commission, to provide investment advice. An RIA is held to a Fiduciary Standard, meaning they are expected to act in the best interest of their client at all times. As fiduciaries, an advisor must employ a policy of full disclosure with their clients to help avoid potential conflicts of interest. As a fee-only investment advisor, Tobias Financial Advisors removes potential conflict by accepting compensation only in the form of client fees.
Our business practices are fully disclosed in Form ADV Part 2.
- What is a Certified Investment Management Analyst™?
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The Certified Investment Management Analyst™ certification is designed to demonstrate the highest levels of competency as an advanced investment consultant. Benjamin Tobias, as a CIMA® professional, works to provide our clients with state of the art investment management theory and application in order to preserve and manage our clients' wealth.
- Why use our firm in lieu of a larger, institutional advisory firm?
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Tobias Financial Advisors provides an advisory relationship that exudes the "personal" touch. We keep our client base small, so our financial advisors can get to know our clients as individuals and not just “accounts”. This personal interest creates a level of service which we believe cannot be matched by the larger financial companies and banks.
- Is my private information confidential & safe with Tobias Financial Advisors?
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Tobias Financial Advisors maintains strict guidelines for the confidentiality of personal client information. Though we are a "paperless" office, what physical records we maintain are kept under secure conditions. We implement several layers of safeguards for both hard and soft copy records including encryption, firewalls, employee and third party confidentiality agreements and the delegation of an in-house Compliance Officer, as well as an independent Compliance Firm.
- Who does Tobias Financial use as custodian for my assets? Are my funds safe?
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The primary custodian used by Tobias Financial Advisors is TD Ameritrade, a member of the Securities Investor Protection Corporation (SIPC); securities in each of your (separate) accounts are protected up to $500,000 per account, including coverage for up to $250,000 in cash.
TD Ameritrade also provides additional coverage through London insurers. This supplemental coverage provides $149.5 million of coverage for each client; this coverage limits coverage on cash in the account to an additional $900,000. Each client is limited to a combined return of $150 million from a Trustee, SIPC or London. TD Ameritrade has an aggregate total coverage of $250 million. This coverage provides you with protection against brokerage insolvency.
To be clear, SIPC does not protect your investment principal from market volatility; however, it does provide protection in the event the custodian of record - TD Ameritrade - goes out of business. For more information, go to http://www.sipc.org/