FAQ

11. Who should be on my financial planning team?

We recommend that a comprehensive team have the following members: Financial Planner, Estate Planning Attorney, and CPA/Accountant and of course the client.

12. Is the fee tax deductible?

Yes. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A. This deduction is now subject to a 2% floor of adjusted gross income. If the client has a business, the deduction would be taken on Schedule C.

13. Do we offer a tax service?

Yes. We provide full service tax planning and preparation featuring e-filing.

14. What if I want to keep my own CPA or Trust Attorney?

Although we prefer that you use one of our professionals, you can use any professional you choose.

15. What is a Registered Investment Advisor Representative?

A Registered Investment Advisor Representative is associated with a Registered Investment Advisor. A Representative would be any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities to others for compensation. Any person or entity that holds itself out as a financial planner, and performs any of the duties described above, must be registered with a firm who is a Registered Investment Advisor with their state or the Securities Exchange Commission.

16. What is a financial plan?

A financial plan is an in-depth review of your financial situation, taking into account your goals and objectives and focusing on income tax planning, asset management, estate planning, risk management, educational planning and retirement. The plan analyzes and recommends ways that you can achieve your financial goals and objectives.

17. Do we offer money management?

Yes. We have various platforms to meet a wide range of client's needs.

18. Do we sell financial planning products, such as investments or insurance?

Yes. If our clients are not working with an outside advisor(s), we have the ability to sell investment and insurance products.

19. Do we guarantee investment performance?

No.

20. Will client information be kept confidential?

Yes. It is the law.

21. What is a Fiduciary?

A Fiduciary is a person who is responsible for managing the assets of another person and stands in a special relationship of trust, confidence and/or legal responsibility. Our advisor representatives are all Accredited Investment Fiduciaries (AIF®). As a Fiduciary, we have the legal responsibility to follow prudent investor practices as well as serve the client's best interest. The Pure Financial Advisors Client Agreement specifically identifies Pure Financial Advisors as an Investment Fiduciary. We also have designed our operations to reflect prudent practices and procedures as outlined by Fiduciary 360 and CEFEX (Center for Fiduciary Excellence).

22. Aren't all brokers’ fiduciaries?

No. Commission-based brokers are not generally required to be fiduciaries. They are transaction-based and are not held to a fiduciary standard. Fee-based advisors are considered fiduciaries legally, but many are reluctant to acknowledge their fiduciary status and do not follow generally accepted prudent practices and procedures. Some broker/advisors try to wear two hats, suggesting some activities should be held to a fiduciary standard and some should not. Why would your advisor be reluctant to accept a requirement to serve your best interest?