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| Frequently Asked Questions |
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- What does DaVinci Financial Planning, Inc. do?
- Is DaVinci Financial Planning, Inc. a brokerage firm?
- What type of clients do you work with? At what point should someone consider working with your firm?
- What do you do for your clients?
- How do I begin the process of becoming a client of DaVinci Financial Planning, Inc.?
- What are the fees for your services?
- Who actually does my financial plan and who manages my portfolio?
- OK, I understand that you provide a personal financial planning, investment management, and divorce planning, but can you give me financial advice and recommendations if I don’t have an investment account to manage?
- What types of portfolios do you manage?
- Do you have an account minimum?
- Do I pay commissions or trading costs in addition to the management fees?
- How often do you meet with your clients after the initial investment management process has been implemented?
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1. What does DaVinci Financial Planning do?
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DaVinci Financial Planning ("DFP") provides these services:
1. As-needed financial advice
2. Comprehensive financial planning
3. Investment management advisory services
4. Divorce financial planning and mediation
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2. Is DFP a brokerage firm?
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No. DFP is a Registered Investment Advisory firm. We work directly for our clients on a fee-only, commission-free basis.
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3. What type of clients do you work with? At what point should someone consider working with your firm? |
Generally, our clients are people who are goal oriented, value working with an experienced, unbiased financial planner, and want an “accountability partner”. We are dedicated to working with people from all walks of life, and those facing a specific transition, such as retirement and pre-retirement, job transition, divorce, or losing of a loved one. Our clients have a desire to follow a financial game plan and they have reasonable expectations for success.
At DFP we follow a multi-step process to analyze your current financial situation against your goals and develop, and implement a plan to align your finances and assets with your goals. People, who utilize our services, fall into these categories:
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- Some of our clients want a solid plan with practical financial recommendations, and ‘an accountability partner’ along the way. The financial plan may be focused only on cash flow, such as budgeting, debt reduction, and saving. Or, it may be more comprehensive covering: cash flow planning, investment analysis and recommendation, retirement projections and planning, college funding, estate plan and tax planning.
- Others have an immediate need to address sudden transition, such as early retirement, career change, sale of business, divorce or death of a loved one.
- Other clients simply want to delegate the financial advisory process so that they can pursue other goals. For these clients, we coordinate and manage the complex relationship between investments, taxes, retirement planning, insurance and estate planning decisions.
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The bottom line is, it does not matter whether you need advice as how to allocate your 401K, pay down your debt, or to figure out how much to save for retirement, we are here to help.
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4. What do you do for your clients?
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Our personal financial planning services include examining ALL OR ANY of the following areas: |
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| Investment Management Services
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We provide investment management advisory services to individuals and businesses seeking preservation of capital, income, and long-term capital appreciation. We believe that a coordinated effort between portfolio management and financial planning is the best approach to building a complete wealth management solution and are committed, through financial planning and disciplined money management, to assist investors in realizing their financial goals.
We help our clients accumulate, grow, protect, preserve and transfer their wealth. This includes setting goals, developing and implementing investment strategies and monitoring their impact. We also help our clients take advantage of financial opportunities and avoid financial problems.
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Divorce Planning Services
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- Whether you can afford to keep the house?
- Whether you should take the cash or the IRA?
- The retirement assets – how will you be able to retire?
- How you will be able to survive financially after the divorce?
- How you will share time with the children and still work?
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| We will guide you through the financial aspects of your divorce such as: |
- Identifying and valuing the marital vs. separate property
- Valuing Pensions and other Retirement Plans
- Exploring if it is feasible to retain the marital residence
- Analyzing living expenses and determining cash flow needs as one household is divided into two
- Identifying who should claim the children for tax purposes
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We are also trained mediators; therefore we can help you resolve the complex issues of your divorce so that you can reach an equitable settlement.
Post Divorce Planning – the financial ripple effects of divorce can last many years. Therefore, it is critical that you tie all loose financial ends and begin the next phase of your life with a healthy financial game plan.
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| 5. How do I begin the process of becoming a client of DaVinci Financial Planning?
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Call or email us to schedule a confidential initial consultation. In order to make the meeting as productive as possible we will ask that you bring certain documents with you and complete a financial questionnaire. At the end of the meeting we will recommend how we can best serve you.
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| 6. What are the fees for your services? |
For personal financial planning: The initial consultation is FREE and it lasts about 45 minutes. The planning process typically consists of 2-3 planning sessions and each session can cost $75-$125, depending on the scope of my services.
For the management of your investments: If you would also like for us to manage your assets, the fee is based on the total amount of assets we manage. There are typically no separate fees for financial plan and the asset management fee serves as a retainer for ongoing financial planning services.
For divorce services: The initial consultation is a ‘working meeting’ that lasts an hour and a half. You will be explained the options available to you for your divorce, the types of financial and parenting decisions that will have to be made, and the key issues that will have to be addressed. At the end, we will be able to recommend the best approach for your dissolution. You will walk away with a lot of information. The cost is $150. |
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7. Who actually does my financial plan and manages my portfolio?
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Our CERTIFIED FINANCIAL PLANNER™ practitioner, Denisa Tova, will develop your financial plan. She is an expert in cash flow planning, debt management, retirement planning, investments, insurance, college funding, tax planning, and estate planning
The DFP investment policy committee consists of over 30 combined years of investment experience to help you achieve your financial goals. Our investment policy team includes Denisa Tova MBA, CFP®, CDFA, ChFC, CLU, and Certified Financial Analysts™ Phil Diamond and Ryan Long, as well as other senior staff and the resources of professional investment advisory firm Focus Point Solutions.
We work as a team, which ensures that there will always be someone who is available for you to talk with who is familiar with you and your personal needs.
For Divorce planning, you will work with Denisa Tova, who is also a CERTIFIED DIVORCE FINANCIAL ANALYST and a trained mediator. She is also a managing partner of Divorce Resource Centre of Colorado, LLC.
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8. OK, I understand that you provide a personal financial planning, investment management, and divorce planning, but can you give me financial advice and recommendations if I don’t have an investment account to manage?
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Yes. We work with people from all walks of life and we do not choose our clients based on their assets or income.
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| 9. What types of portfolios do you manage? |
We manage asset allocation or "balanced" portfolios featuring a variety of asset classes, typically using open-end mutual funds. In addition, we manage specialized portfolios featuring individual stock holdings as well as allocations designed to generate high levels of dividend income.
We offer a disciplined approach to portfolio design, with an emphasis on the tradeoff between risk and reward. Therefore, the appropriate portfolio for each investor will be determined based on an assessment of risk tolerance, return needs, age, time horizon, liquidity constraints or other specific factors.
From a broad view, our investment philosophy is centered around providing wide diversification by utilizing a variety of asset classes with a low level of return correlation to each other. Low correlation helps to mitigate market volatility, and, when looking at the portfolio as a whole, provides the greatest potential for decreasing risk over longer time periods. Such asset classes used in the construction of our portfolios include large and small capitalization stocks, "value" and "growth" styles/strategies, international stocks and bonds, real estate and commodities.
Through the analysis of current financial and economic data, we attempt to determine which asset classes and investment styles are undervalued, fairly valued and overvalued; then, capitalize on these discrepancies by raising the near-term allocation of assets that offer the greatest perceived value and lowering weights to assets with the least apparent potential for return.
Generally, we review our portfolios on a continuing basis based on company news and economic and political developments. Our portfolio management process is designed this way.
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10. Do you have an account minimum? |
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No.
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| 11. Do I pay commissions or trading costs in addition to the management fees? |
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No. The management fees above are inclusive of trading costs. We are a fee-only firm. This means we do not work on a commission basis. |
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How often do you meet with your clients after the initial investment management process has been implemented?
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We meet with our clients as often as necessary. During the first year we may meet with you one or two times to review your account, statement and investment reports. After that, we typically meet with our clients at least annually to review the portfolio.
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