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Introduction to Paraklete Financial, Inc.

Published in: Economy & Finance, Business
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  1. 1. Paraklete Financial, Inc. Financial Planning for Your Clients Provided By An Independent Registered Investment Advisor
  2. 2. What are the services for which your clients are looking? <ul><li>Buying and selling of securities </li></ul><ul><li>Investment Management </li></ul><ul><li>Financial Planning </li></ul>
  3. 3. Broker and Broker-dealer (BD) <ul><li>Legal Terms </li></ul><ul><li>Individuals and Businesses who … </li></ul><ul><li>“… are in the business of buying and selling securities (also called trading)” </li></ul>
  4. 4. Broker and Broker-dealer (BD) <ul><li>Employees of brokerage firms (BDs) </li></ul><ul><li>Registered Representatives (stockbrokers) </li></ul><ul><li>Unofficial titles </li></ul><ul><ul><li>Financial Consultants </li></ul></ul><ul><ul><li>Financial Advisors </li></ul></ul><ul><ul><li>Investment Consultants </li></ul></ul>
  5. 5. Broker and Broker-dealer (BD) <ul><li>No Fiduciary Duty </li></ul><ul><li>“Know the Customer” </li></ul><ul><li>Recommend Suitable Investments </li></ul>
  6. 6. Investment Advisors (IA) <ul><li>Legal Term </li></ul><ul><li>Individuals and Businesses who … </li></ul><ul><li>“… are in the business of giving advice about securities” </li></ul>
  7. 7. Investment Advisors (IA) <ul><li>A Variety of Titles </li></ul><ul><ul><li>Investment Manager </li></ul></ul><ul><ul><li>Wealth Manager </li></ul></ul><ul><ul><li>Investment Counsel </li></ul></ul><ul><ul><li>Portfolio Manager </li></ul></ul>
  8. 8. Investment Advisors (IA) <ul><li>Fiduciary Duty </li></ul><ul><li>Provide Advice </li></ul><ul><li>Recommend Investments </li></ul>
  9. 9. Investment Advisors (IA) <ul><li>Must provide up-front disclosure: </li></ul><ul><ul><li>Qualifications </li></ul></ul><ul><ul><li>Services provided </li></ul></ul><ul><ul><li>How compensated </li></ul></ul><ul><ul><li>Possible conflicts of interest </li></ul></ul>
  10. 10. Financial Planners <ul><li>Not Legally Defined </li></ul><ul><li>Individuals and Businesses who … </li></ul><ul><ul><li>Develop Comprehensive Financial Plans based on Long-term Goals, and who </li></ul></ul><ul><ul><li>May Implement those Plans </li></ul></ul>
  11. 11. Financial Planners <ul><li>A Comprehensive Financial Plan </li></ul><ul><ul><li>Estate Planning </li></ul></ul><ul><ul><li>Tax Planning </li></ul></ul><ul><ul><li>Risk Management </li></ul></ul><ul><ul><li>Budget </li></ul></ul><ul><ul><li>Investment Policy Statement </li></ul></ul><ul><ul><li>Debt Management </li></ul></ul><ul><ul><li>College Planning </li></ul></ul>
  12. 12. Financial Planners <ul><li>Not specifically regulated, BUT </li></ul><ul><li>Depends on services offered: </li></ul><ul><ul><li>Investment Advice – Investment Advisor </li></ul></ul><ul><ul><li>Trading Securities – Registered Representative </li></ul></ul>
  13. 13. And then there is the Merrill Lynch exemption: <ul><li>“… financial professionals must advise clients that brokerage accounts are not advisory accounts and that the interests of the firms may not always be aligned with the interests of the clients. </li></ul><ul><li>“ Firms must also make someone available to clients to discuss the differences between an investment advisor and a broker. </li></ul><ul><li>“ And brokers’ financial planning advice must only be ‘incidental’ to the traditional brokerage services they provide.” </li></ul>
  14. 14. So, what is Paraklete Financial? <ul><li>Financial Planner </li></ul><ul><li>AND </li></ul><ul><li>Registered Investment Advisor </li></ul>
  15. 15. Paraklete does not: <ul><li>Sell Insurance </li></ul><ul><li>Broker Investments </li></ul><ul><li>Manage Assets </li></ul><ul><li>Practice Law </li></ul><ul><li>Practice Accountancy </li></ul>
  16. 16. Paraklete does: <ul><li>Offer comprehensive Financial Planning for Businesses and Individuals </li></ul><ul><ul><li>Exclusively through a network of advisors </li></ul></ul><ul><ul><li>As a Registered Investment Advisor </li></ul></ul>
  17. 17. Paraklete Financial Form ADV Susan M. Tillery, President/CEO <ul><li>Education: </li></ul><ul><ul><li>Bachelor of Business Administration, University of Georgia </li></ul></ul><ul><ul><li>Master of Accountancy, University of Georgia </li></ul></ul><ul><ul><li>CPA, CFP®, PFS </li></ul></ul>
  18. 18. Paraklete Financial Form ADV Susan M. Tillery, President/CEO <ul><li>Business: </li></ul><ul><ul><li>Paraklete Financial, Inc. </li></ul></ul><ul><ul><li>Board Member: </li></ul></ul><ul><ul><ul><li>Partnership Against Domestic Violence </li></ul></ul></ul><ul><ul><ul><li>Royal Treasure </li></ul></ul></ul><ul><li>Disciplinary History: None </li></ul>
  19. 19. Paraklete Financial Form ADV Thomas N. Tillery, VP/CCO <ul><li>Education: </li></ul><ul><ul><li>Bachelor of Arts, English Literature Columbus State University </li></ul></ul><ul><ul><li>Master of Arts, Christian Education Southern Baptist Theological Seminary </li></ul></ul><ul><ul><li>Master of Science, Financial Services The American College </li></ul></ul><ul><ul><li>CFP®, CLU, ChFC, LUTCF </li></ul></ul>
  20. 20. <ul><li>Business: </li></ul><ul><ul><li>Arbitrator, National Association of Securities Dealers (NASD) </li></ul></ul><ul><ul><li>Faculty, Terry College of Business, University of Georgia </li></ul></ul><ul><ul><li>Instructor, Ken Zahn, Inc. </li></ul></ul><ul><li>Disciplinary History: None </li></ul>Paraklete Financial Form ADV Thomas N. Tillery, VP/CCO
  21. 21. Paraklete Financial Form ADV <ul><li>Two types of “Plan for Fee” </li></ul><ul><ul><li>Fee Based – Assets under management </li></ul></ul><ul><ul><li>Fee Only – Fee for Service </li></ul></ul>
  22. 22. Paraklete Financial Form ADV <ul><li>Paraklete Financial, Inc. is Fee Only: </li></ul><ul><ul><li>Hourly: $425 </li></ul></ul><ul><ul><li>Flat Fee: Minimum of $6,000 </li></ul></ul><ul><ul><ul><li>Paid quarterly </li></ul></ul></ul>
  23. 23. Paraklete Financial Form ADV <ul><li>Engagement: </li></ul><ul><ul><li>Unique: one year </li></ul></ul><ul><ul><li>Follow-through on implementation </li></ul></ul><ul><ul><li>Quarterly Review of progress and net worth </li></ul></ul>
  24. 24. Paraklete Financial Form ADV <ul><li>Investment Strategies: </li></ul><ul><ul><li>Long-term </li></ul></ul><ul><ul><li>Modern Portfolio Theory </li></ul></ul><ul><ul><li>Investment Policy Statement </li></ul></ul>
  25. 25. Value Propositions: Client <ul><li>Over 90% of clients recover fees in the first year through: </li></ul><ul><ul><li>Tax savings </li></ul></ul><ul><ul><li>Expense reduction </li></ul></ul><ul><ul><ul><li>Insurance </li></ul></ul></ul><ul><ul><ul><li>Investments </li></ul></ul></ul>
  26. 26. Value Propositions: Client <ul><li>Peace of mind as a result of having a Comprehensive Financial Plan </li></ul><ul><li>Peace of mind as a result of having an Investment Policy Statement </li></ul>
  27. 27. Value Propositions: Client <ul><li>Clients who elect to create a “spending plan” realize, on average, an amount in excess of 10% of adjusted gross income, as additional spendable income. </li></ul>
  28. 28. How may we be of service? Paraklete, your advocate in financial services sm