Frequently Asked Questions
1. What kind of company is Lassus Wherley?
2. What does “Fee-Only” mean?
3. What do the acronyms CPA and CFP® mean?
4. How can you help me?
5. Can you do my taxes?
6. What are your family office services?
7. How would we start working together?
8. Can I ask for recommendations during my Initial Consultation (IC)?
9. What happens after the IC?
10.What is the average fee for a financial plan?
11.How long does it take to prepare a plan?
12.What happens once my plan is complete?
13.Will you help me implement my plan?
14.How long does it take to get an appointment?
15.In one sentence, what do you do for us as clients?
1.What kind of company is Lassus Wherley?
We are a wealth management firm with expertise in Fee-Only Financial Planning, Investment Management, Tax Preparation, Trust Services and Family Office Support. Fee-Only Financial Planning and Investment Management are the cornerstones of our business. We assist individuals, couples, families, pension and profit sharing plans, trusts, estates, charitable organizations, corporations and other business entities in identifying their needs, desires, and goals. Our plans offer recommendations and alternatives for consideration. With investments, we design an allocation and select assets using investments from our recommended list, which we review and update continually. After we invest a client's funds, we review the account on an ongoing basis and make adjustments as necessary.
For more information about what we do, click here.
2.What does “Fee-Only” mean?
Being a Fee-Only firm means that our clients pay for our services, according to an agreed-upon fee. We do not sell products or receive commissions or other compensation from third parties, which could bias our recommendations. You can trust our recommendations and advice to be objective, which is essential for your peace of mind.
To learn more about Fee-Only financial planning, click here.
3.What do the acronyms CPA and CFP® mean?
CPA stands for Certified Public Accountant. Practitioners must be licensed in any state in which they work. All CPAs have passed a stringent two-day examination in accounting, tax and auditing.
CFP® stands for CERTIFIED FINANCIAL PLANNER™ practitioner, which is a certification awarded by the Certified Financial Planner Board of Standards, Inc. The CFP® practitioner has passed a rigorous two-day examination that tests a wide range of financial knowledge and skills. CFP® practitioners also have fulfilled substantial experience requirements, and they are required to maintain their knowledge with ongoing continuing education.
To view our teams' Designations/Licenses/Registrations, click here.
4.How can you help me?
To start, we can examine your financial situation, including analyzing your assets, liabilities, will, insurance, tax returns, employee benefits, spending patterns, and any other relevant information. Based on your needs and goals, we will define issues, offer recommendations, and inform you about your unique opportunities. We can develop investment target ranges, assess your risk profile, and recommend an allocation of your money among various investment opportunities. We take over the job of handling investment transactions for you, placing trades and rebalancing your portfolio. We constantly monitor investment performance and research new investment opportunities. If your financial status changes, we can work with you to adjust where appropriate. Throughout the year, we stay in touch by phone, correspondence or meetings, and provide you with quarterly investment reports plus other ongoing financial services should you need them.
For more information about what we can do, click here.
5.Can you do my taxes?
Yes. We prepare tax returns for individuals, businesses, estates and trusts. Our tax professionals monitor investment activity and are available to discuss tax strategies unique to your situation.
For more information about what we can do, click here.
6.What are your family office services?
Family office services are utilized by families who have complicated, multi-generational issues that need extra levels of attention. Some of the other areas in which we work with our clients are:
Oversight of elderly parents for out-of-state children, including working with healthcare providers
Paying bills, financial controls and reporting
Personal asset tracking and monitoring
Coordination of home maintenance
Estate administration
For more information about our family office services, click here.
7.How would we start working together?
We offer a free Initial Consultation (IC) with one of our financial planners or accountants. The IC is an opportunity for us to get acquainted while you discuss your current situation and your future goals. During the IC, a financial planner will explain what a plan is, how it is prepared, what it costs, and the services available. Before you leave, you will receive a questionnaire to complete at home and return to us that will start the planning process, if you decide to become a client.
To schedule an IC, click here.
8.Can I ask for recommendations during my IC?
The IC is a no-charge introductory meeting. It is not a problem-solving session. If we can answer your questions during the Initial Consultation, we will give you the option of paying an hourly rate for the meeting.
To schedule an IC, click here.
9.What happens after the IC?
Based on your questionnaire responses, your planner will draft a proposal that outlines either a partial or broad-based plan that would be best for your situation. You will be presented with the issues and items to be covered, as well as the cost. You will also receive a contractual memorandum of engagement that puts that information in writing. There is no charge up to this point. It is important for you to review the proposal and contractual memorandum of engagement carefully, and call us with any questions. Then, the signed memorandum and deposit initiate the planning process.
10.What is the average fee for a financial plan?
Every plan is different, just as each client is unique. During your IC, you can discuss fees with your planner, based on your needs and goals.
11.How long does it take to prepare a plan?
On average, the preparation of your plan takes 12 to 16 weeks. This may seem like a long time, but it allows us to prepare a plan customized to your needs and requirements. Your planner will use the time to carefully examine the background materials you provide. Alternative scenarios may be analyzed, and various recommendations may be considered, with numerous levels of review.
12.What happens once my plan is complete?
You and your planner will meet to review the major conclusions and recommendations. You will take the plan home for review before scheduling a follow-up meeting to discuss the plan's implications. Together, you and your planner will decide which steps to take next. Ultimately, it's your decision. Many people decide to implement the plan in incremental steps—perhaps starting with an increase in the dollar value of a life insurance policy, before moving to larger steps, like changing investment allocations.
13.Will you help me implement my plan?
Although you have ultimate responsibility for implementing your plan, we are available to assist you with every step of your plan's implementation. We are available for advice and counsel (with different fee arrangements), and we can prepare your tax return on a fee-for-service basis.
To contact us for more information, click here.
14.How long does it take to get an appointment?
Generally, we can set up an IC within a couple of weeks.
To schedule your appointment, click here.
14.In one sentence, what do you do for us as clients?
We give you the “Peace of Mind” that comes from knowing that you have laid the groundwork for a more secure financial future.
For more information about “Peace of Mind”, click here.
