FHCE 3200 Lecture Notes - Lecture 9: Hobbit, Estate Planning, Wealth Management
27 Apr 2018
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11/17/2017 Reading Questions 9 Hiren Patel
1. As discussed in this section, it is important to identify and interview financial advisers when seeking
financial planning or investment advice. The first step in the interviewing process involves finding
information about different advisers. Visit the CFP Board of Standards, Inc. website (cfp.net) and search
for at least three CFP® professionals in your area (or, if more relevant, the area in which you plan to
move after you graduate). Write a brief summary about how each adviser is compensated, the minimum
investable assets required of clients, and what their area of expertise or experience appears to be. Given
your research, would you meet with any of these advisors today? What about in ten years? Why or why
not?
For the first advisor, her name is Denise Sowell. Her compensation method is commission and fee, her
minimal investable assets are $100,000 and her only area of expertise is wealth management.
For the second advisor, his name is Patrick Hinchey. His compensation method is commission and fee,
his minimal investable assets are $500,000 and his area of expertise includes Asset Allocation, Business
Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care,
Employee and Employer Plan Benefits.
For the third advisor, his name is Terry Stoor. His compensation method is commission and fee, his
minimal investable assets are $100,000 and his area of expertise includes Asset Allocation, Banking,
Comprehensive Financial Planning, Education Planning, General Financial Planning, Insurance Planning,
Investment Management.
I would not meet with any advisors today, however in 10 years, I might meet with Terry stoor because I
plan to invest and gradually increase my income. Also, I plan to have kids and most likely the entire
family is going to have insurance, which Terry Stoor could help. He has expertise in most general areas
and I think it makes him the most approachable in my situation.
2. Search the Internet for template that can be used to create a basic will. A good place to start is
www.calbar.ca.gov. Review the questions asked think about how you would answer each question. Do
you feel there is currently value in your having a will? Why or why not? Either way, what are other ways
you might handle your current estate planning needs?
I do’t thik I hae a alue i deelopig a ill, I do’t ee hae o house. The uestios ask fo
a eeuto ad eefiiaies; hoee, I do’t hae a eefiiaies, ut if I had soe they would be
paets. This ould’t ake sese eause eethig I hae, the o. The ill ol akes sese
for me, if I have kids and have sufficient estate. I think I would keep it basic and give everything to my
children and wife when I die. However, If I ever start my own company, I would want it to be successful
for years to come, so I would handle that situation a little bit differently. Also, I can take advantage of
loopholes to minimize taxing. For example, maxing out annual gifting and taking advantage of estate tax
exemption.
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Hiren patel: as discussed in this section, it is important to identify and interview financial advisers when seeking financial planning or investment advice. The first step in the interviewing process involves finding information about different advisers. Visit the cfp board of standards, inc. website (cfp. net) and search for at least three cfp professionals in your area (or, if more relevant, the area in which you plan to move after you graduate). Write a brief summary about how each adviser is compensated, the minimum investable assets required of clients, and what their area of expertise or experience appears to be. For the first advisor, her name is denise sowell. Her compensation method is commission and fee, her minimal investable assets are ,000 and her only area of expertise is wealth management. For the second advisor, his name is patrick hinchey.
