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Questions We Think You Should Be Asking

The following questions are designed to help you see “behind the curtain” of our firm and any firm you might entrust your financial future.

Are your recommendations truly in my best interest?

Imagine going to your doctor with a concern about your heart. Before running any tests, the doctor tries to sell you a pacemaker. The doctor then explains that you need to act today before prices go up. Later, you learned that the doctor was paid extra to promote this particular brand of a pacemaker. While absurd for the medical profession, this scenario closely resembles much of the investment world.

As a firm, we take our fiduciary duty very seriously and always act in the client’s best interest (vs. just trying to sell you a product).

In addition to a legal obligation, our firm was built on a foundation of placing the client’s interest before any thoughts of our own compensation. We recommend clients the same strategies used in our own accounts and those of our family members. This commitment to integrity has enabled us to build a very successful firm—and relationships that we cherish.

See our signed Statement of Fiduciary Commitment.

Will your recommendations be primarily focused in one area, or will your recommendations be comprehensive in nature? In other words, will I need to find another advisor for advice in other areas?

For our clients, we serve as a single point of contact for all their financial needs.  This includes coordinating every aspect of their financial lives.

Each of our clients has a financial plan and financial action checklist detailing all of the actions needed to achieve their financial goals. As needed, these action items are coordinated with accountants, attorneys and other professionals.

Do you have the knowledge and experience necessary to successfully navigate the complicated financial planning and tax world to achieve my financial goals?

Josh Morin has taken the rigorous steps to become a Certified Public Accountant and a CERTIFIED FINANCIAL PLANNER™. Each year, he studies countless pages of financial text and is mentored through continuing education by the country’s top minds in financial, legal and tax planning.

How many clients do you serve, and how does their situation compare to mine?

We currently serve approximately 350 families. We have intentionally limited the size of our practice so that every client receives the service they require to achieve their financial goals.

The majority of our clients are retired, or close to it. Our clients’ investments range from $500,000 to $5,000,000. We primarily focus on the investment, tax and legal issues related to retirement.

How often will I hear from you?

Quarterly or more often if needed. We also formally meet with clients 1-2 times annually.

Education is a big focus for our firm. We publish regular newsletters explaining what the headlines mean for our clients, breaking down important retirement topics in plain English.

Each quarter, we send a performance report that clearly displays what is going on in your accounts. In addition, our office doors, phone lines and emails are always open to clients to reach out with questions or concerns.

What will be my total investment expense, how much will you be compensated and where can I see this in writing?

As detailed in our client agreements, each quarter we deduct a fee equal to 0.25% (or less) directly from the accounts under our management. This deduction is detailed in the quarterly statement we provide to every client. To put this fee in perspective, most days the stock market moves more than 0.20%.

The majority of the investment funds we use have an internal expense of less than 0.25% annually.

It only makes sense to hire a financial advisor, or any professional, if the value they provide exceeds the fee being charged. In other words, the time and effort saved, plus the tax savings and potentially increased investment returns need to exceed 0.25% quarterly (1.0% annually). The financial plan we present to you will clearly quantify the benefits you will receive.

Will you help me solve any and all financial problems I may encounter?

Yes. We have assisted clients in solving an assortment of financial issues such as 401(k) plans, IRS audits, family deaths, disability, tax issues, real estate, debt, Social Security, Medicare, health insurance, college, gifting and almost any other financial issue imaginable. While we certainly don’t have all the answers, through our network of resources, we will not stop until a solution has been found.

Where do you keep my money and how can I see it?

For your convenience and safety, Pacific Asset Management uses Charles Schwab & Co. as the custodian for our client assets. Charles Schwab administers more than $3.3 Trillion in assets. As a custodian, Charles Schwab holds your funds and provides reporting to you and the IRS. Your accounts can be viewed at any time at Charles Schwab.

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