Frequently Asked Questions
Why should I entrust my retirement planning and portfolio management to an independent and unbiased financial planner?
An independent and unbiased financial planner, with no products to sell, can position you in better yielding investment vehicles with little to no additional risk while saving you thousands of dollars in fees and taxes. Independent and unbiased financial planners will lead their advice with a comprehensive plan to achieve your life-long financial objectives.
There is an art to investing your portfolio and generating income for life while maintaining a high level of confidence that you won’t run out of money. We promise to apply our extensive and comprehensive 30+ years of experience, helping clients retire, to your retirement planning..
A retirement planner can advise you on the optimal time to start collecting Social Security payments, the best pension distribution options, and how to generate income from your portfolio with a high degree of confidence that you won’t run out of money. .
At Pillar Wealth Management, your retirement planner will guide you on how much retirement income you can reasonably expect to receive and what withdrawal rate is right for you when generating income from your portfolio.
At PillarWM we will also advise you on how to organize your investments to lower taxable income while sustaining your lifestyle.
To hold confidence or trust is to be a fiduciary. A financial services sector expert who serves customers has a fiduciary duty to put those clients’ needs and interests ahead of their own. While regulated and licensed, stockbrokers and insurance agents do not have a fiduciary duty to their clients. Only the “suitability standard” must be met by the recommendations they provide (i.e. they can sell you commission-based or expensive products that serve them first yet are suitable for your investment needs).
At Pillar Wealth Management, we are Fiduciary based Financial advisors who will provide you with unbiased financial advice and will only have your best interests at heart. We have no products to sell or investments to pitch.
Your planner can assist you in creating a systematic withdrawal plan to get monthly income from your investments in retirement. The amount you withdraw will depend on how much money you need to complement Social Security and other sources of income, such as pensions. You might also be required to make an annual withdrawal from some of your accounts due to Required Minimum Distributions.
It is worthwhile working with a retirement planner since they have the expertise to advise you on managing your assets to maximize your retirement income and meet your financial goals.
PillarWM is 100% fee-based. If we are dealing with a highly interested financial planning candidate, then we will not charge for the first 30 minutes of consulting with them. Once the prospect agrees to hire us, we are 100% transparent with the annual percentage we charge for portfolio management. Pillar’s very simple annual percentage fee includes our financial planning services and encourages our clients to call us anytime they have questions because there isn’t an extra charge for such consultations. The fee percentage depends on the value of the clients’ portfolio value and ranges from 0.27% to 1.6%. The higher the value, the lower the annual percentage. Some firms charge additional fees for comprehensive financial and retirement planning, of between $1,500 and $15,000, but we don’t. With many other firms once your plan is completed and accepted, you then end up paying them commissions for products to invest in or an annual recurring fee to manage your portfolio. At PillarWM we choose to lead with a complementary financial plan since this financial plan is the only way we know of for guiding you to a secure and comfortable future.