FAQ
We know that managing your family’s financial life comes with plenty of questions. Building wealth is a journey, and understanding your options helps everyone feel confident and informed along the way. This reference was created to provide clear, concise answers to the questions families ask us most often. Whether you’re planning for college, thinking about retirement, or simply trying to make smart decisions for your future, we’re here to help, every step of the way.
Who do You Typically Work With?
We serve individuals, families, business owners, and professionals seeking personalized financial guidance. From wealth builders, parents saving for college, pre-retirees, complex asset managers, or those seeking to preserve wealth across generations, we are your vital partner for all your life decisions.
How are you paid for your services?
Most of our services are offered on a fee‑based model, typically as a percentage of assets we manage for you (AUM.) For certain planning services, we may offer flat‑fee or hourly options.
is there a minimum investment requirement?
We believe that everyone should have an equal playing field in the pursuit of financial security and regardless of background, education, or wealth status, that you can achieve a stable future. Minimums vary by portfolio type and advisory service. We’ll work with you to determine the best fit based on your goals and situation.
How do I get started?
Start by scheduling a complimentary meeting. No need to bring any financial documents. This first meeting is an open discussion to share your goals, learn about our process, and determine whether there is mutual consensus to start the planning process.
How often will we meet?
While most clients schedule an annual meeting with us, many choose to meet two to four times per year. We welcome and encourage whatever meeting frequency feels right for you so we can stay aligned with life’s changes, needs, and priorities.
Is my information secure?
Your privacy and security are at the heart of everything we do at Prentice Wealth Management. We rely on encrypted technology, secure communication methods, and proven cybersecurity best practices to ensure your information remains protected.
What's included in a comprehensive financial plan?
Our plans are based on each individual's unique needs and usually cover:
- Retirement planning
- Investment strategy
- Tax Strategy
- Cash‑flow and budgeting
- Debt Optimization
- Estate planning
- Special needs & elder care planning
- Risk management and insurance review
- Education funding strategies
How often should i update my financial plan?
A financial plan should be reviewed at least annually, but particularly when you experience a major life event such as marriage, divorce, job change, inheritance, death of a loved one or when making a large purchase.
what investment philosophy do you follow?
We first seek to align your investments with your financial planning objectives, risk tolerance, and time horizon. Then we focus on marrying strategically diverse portfolios, built on time-tested investment principles to your goals and tax situation.
How Will I Know How My Investments Are Performing?
You’ll receive regular portfolio statements, secure online account access, and scheduled review meetings with your advisor to review your portfolio and risk appropriate benchmarks.
how do i know if i'm on track for retirement?
We use detailed projections to model spending needs, inflation, savings rates, investments, Social Security, and other income sources. This gives you a clear picture of whether you're on track, and when adjustments might be needed.
when should i start taking social security benefits?
The best time depends on your health, income needs, employment status, and long term retirement strategy. We help you evaluate scenarios and determine your optimal claiming strategy.
do you prepare tax returns?
We offer tax preparation through PWM Tax Associates LLC for an additional fee or we can collaborate closely with your CPA or tax professional.
Can you help with estate planning?
At PWM, we believe that a collaborative support network is integral to the financial planning process. We help you clarify your estate goals and coordinate with your attorney (or often one from our network of professionals) to ensure wills, trusts, and beneficiary designations support your overall financial plan.
Do you help with saving for college?
Yes. We help you understand future costs and explore funding strategies like financial aid, gifting, 529 plans, UTMAs, and Trump accounts so you can plan confidently without compromising your financial security.