FAQ

How do you (or other partners) get compensated?

At Jacobs Financial Partners, we are fee-based planners which means we charge a flat fee for planning work based on the complexity of the financial plan. Fees typically range from $2500-$7000 based on the complexity of the work.

Are you a fiduciary?

Yes, we are a fiduciary, but also dually registered and can act as both a broker and registered investment advisor.

Are you a CFP (Certified Financial Planner)?

Yes, we have Certified Financial Planners in our office, as well as Planners with the AAMS designation (Accredited Asset Management Specialist). In addition to these advanced designations, each of our Advisors has over twenty years of experience working in the financial industry as Financial Planners and Wealth Managers.

What types of clients do you typically work with?

We typically work with clients aged 55 and older with investable assets of $500,000+. A large portion of our clients are Aerospace employees, retired teachers, and small business owners who reside in Connecticut, but we also work with clients whose occupations are in others fields, such as law and insurance. 

Do you have an investment minimum?

The firm is best suited to work with new clients with a minimum of $500,000 and more in investable assets.

Why do you have an investment minimum?

We take pride in providing personalized, high-quality financial planning and wealth management services. To uphold these standards, we maintain an investment minimum for prospective clients. This approach allows us to limit the number of clients we serve, ensuring we can dedicate the time and attention necessary to address each individual's unique needs. Our planning process is particularly suited for those with complex financial circumstances and advanced wealth management goals. Welcoming a new client is more than just a professional engagement- it’s a lifelong commitment to building a deep personal and financial relationship. Each year, we invest significant time and energy into key areas such as retirement, tax, and estate planning. These services demand our full attention and expertise. By thoughtfully managing our client roster, we ensure that we never compromise the quality and focus that our clients deserve.

Do you meet/work virtually?

Yes, we are happy to accommodate clients by meeting virtually through Zoom video conferencing, phone calls, and/or in person.

What is included in financial planning?

Financial planning is a process that can help you target your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources. This process is important because it helps organize the pieces of your financial picture.
You’ll be better able to:
-focus on your goals (e.g., saving a certain amount for retirement, establishing an emergency fund, setting up charitable giving)
-understand what steps are needed to reach them
-balance competing financial priorities (e.g., saving for children’s college tuition while also saving for retirement).

*Image above illustrates the many components of financial planning

How do I know if I need a financial advisor?

• Developing a comprehensive financial plan may require expertise in several areas, such as estate, tax, and extended care planning.
• Financial advisors also provide objective information and help you weigh your alternatives, saving you time and ensuring that your financial picture and future is analyzed from all angles. If you do not have the time or knowledge to comprehensively analyze all components of your financial situation and enact strategies for meeting your future financial goals, you (and the people you love) may benefit tremendously from the expertise of a financial advisor.

What's the difference between financial planning and investment management?

Financial planning is a holistic process (see explanation of financial planning above) while investment management is one segment of the process.

To use an analogy, financial planning is like going to the doctor and getting a full physical where all bodily systems and parts are evaluated.

Investment management is like going to the doctor to get one specific symptom checked out and diagnosed. 
Investment management is one piece of holistic financial planning. Investing is the process of deciding what you do with your savings (e.g., retirement savings plans, an IRA, bank savings account). Some investments are designed to help protect your principal, but may provide little to no return. Other investments can go up or down in value and may not pay interest or dividends. Other investment options may include stocks, bonds, precious metals, and mutual funds. At Jacobs Financial Partners, we offer responsible investment management as part of our holistic financial planning services.

Note: Before investing in a mutual fund, carefully consider its investment objectives, risks, charges, and fees, which can be found in the prospectus available from the fund. Read the prospectus carefully before investing.

Can I still control my own finances?

Financial professionals make recommendations, not decisions. You retain control over your finances. Recommendations will be based on your needs, values, goals, and time frames. You decide which recommendations to follow and work with the financial professional to implement them.

Do you consider my risk tolerance and financial goals when making investment recommendations?

Absolutely. Clients are given a risk tolerance questionnaire so that investment recommendations align with comfort levels. While some investors are able to tolerate the potential of losing money for the potential of earning high returns, others would rather forgo the possibility of a large return if it means the possibility of a large loss.

As an investor, your goal is to maximize returns without taking on more risk than is necessary or comfortable for you. If you find that you can't sleep at night because you're worrying about your investments, you've probably assumed too much risk.

Additionally, one of the first questions we ask clients is, “What are your short-term and long-term financial goals?” so that recommendations are tailored to you and your situation. The concept of risk tolerance refers not only to your willingness to assume risk but also to your financial ability to endure the consequences of loss. That has to do with your stage in life, how soon you'll need the money, and your financial goals.

*Chart showing relationship between investment risk and potential return

How often will we meet to review my plan? 

On average, clients meet with their financial advisor 1-2 times a year for a planning review, including adjusting the plan due to changes in your personal circumstances or the economy. Some life events may trigger a review of your plan, including:
- Your goals or time horizons change
- You experience a life-changing event, such as health problems or a job loss
- You have a specific or immediate financial planning need
- You’re affected by changes to the economy or tax laws

Will I work with a team, or just one Advisor?

Individual clients typically work with one financial advisor, though at times, two advisors may collaborate. The benefit of our practice is we are a team. There will always be an Advisor who can answer your questions and help you.

To get started, click here and schedule a complimentary appointment. We look forward to meeting you!