Financial Planning Questions Answered
Clear, fiduciary-minded answers to the questions families, federal employees, and business owners ask us most.
Choosing a Financial Advisor
How to find the right advisor for your goals, situation, and stage of life.
How do I choose a financial advisor?
Look for a financial professional who is transparent about how they are paid, holds recognized credentials such as the CFP or AIF, has experience with situations similar to yours, and is committed to acting in your best interest.
What does a financial advisor actually do?
A financial advisor helps coordinate cash flow, investments, retirement, risk management, tax considerations, and estate planning into a single intentional strategy.
How much does a financial advisor cost?
Most advisors charge through one of three structures: a percentage of assets managed, a flat planning fee, or an hourly rate. The most important thing is transparency.
What is the difference between fee-only and fee-based advisors?
A fee-only advisor is paid only by the client. A fee-based advisor can also receive commissions on certain products like insurance or annuities. Neither model is automatically better.
Do I need a financial advisor if I have $100K, $500K, or $1M?
The type of advisor relationship changes with the amount. Planning and coaching deliver the most value at lower amounts, while full wealth management is most valuable at higher amounts.
What does it mean to work with a fiduciary?
A fiduciary is committed to acting in the client's best interest. Ascend's professionals serve as co-fiduciaries to employer-sponsored retirement plans.
Retirement Planning
Knowing when and how you are ready to retire confidently.
Am I on track to retire?
Whether you are on track depends on your savings rate, current retirement balances, expected Social Security, target retirement age, and projected tax situation.
How much do I need to retire?
A common starting point is 25 times your annual expenses. The real number depends on lifestyle, location, expected income sources, tax situation, and health care needs.
Tax Considerations
Thoughtful tax planning can quietly add years to your retirement.
How can I be more tax-efficient in retirement?
Common strategies include Roth conversions in lower-income years, tax-efficient withdrawal sequencing, strategic use of HSAs and brokerage accounts, and managing RMDs to avoid bracket creep.
Federal Employees
Specialized planning for FERS, TSP, and federal retirement benefits.
How do federal employees maximize their TSP and retirement benefits?
Federal employees can strengthen their retirement by capturing the full TSP match, allocating across funds based on time horizon, coordinating FERS pension income with Social Security, and reviewing FEHB and survivor benefit elections before retirement.
Life Events
Inheritance, loss, divorce. The moments where good planning matters most.
What should I do after I inherit money?
Park funds in a high-yield account, review tax implications including step-up in basis and inherited IRA rules, pay down high-interest debt, and build a long-term plan with a qualified advisor before making large decisions.
Credentials and Trust
What the letters after an advisor's name actually mean.
What is the difference between a CFP, CFA, and AIF?
A CFP specializes in personal financial planning. A CFA focuses on investment analysis and portfolio management. An AIF indicates expertise in fiduciary responsibility for retirement plans.
Have a question we did not answer?
Speak with an Ascend professional about your financial situation.
Important Disclosure: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The information provided is for general educational purposes only. Financial Professionals with Ascend Planning & Consulting, LLC offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA/SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment adviser, and offer insurance and annuities through Equitable Network, LLC (Equitable Network Insurance Agency of California, LLC; Equitable Network Insurance Agency of Utah, LLC; Equitable Network of Puerto Rico, Inc.) Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services. You should consult your own such professionals accordingly. PPG-9056218.1l(10/26)(exp.10/30)