Sneak-Peek into Our New Client Onboarding Process

[@stephaniet4800]

Hi Ari!! Awesome explanation of what Root Financial can offer those of us getting ready to jump on the early retirement train (i.e. your version of FIRE) !!!! 🎉

[@earlyretirementari]

Glad it was helpful!

[@jeffgilmore3147]

Roth conversions from a 401k will probably trigger both state and Federal quarterly filing requirements. How do you appoach that if quarterly estimated returns have never been done before?

[@earlyretirementari]

We help clients determine what is needed and help with estimated tax payments :)

[@ReformedTryHard]

I pay my current advisor 1% of my portfolio and she only does the first two things on the list. And not all that well. We started out as personal friends. She calls me once a year and says, Hey, let’s go have happy hour and talk about your finances…my treat.” Meaning she’s writing it off.

[@earlyretirementari]

This is not uncommon!

[@timein5021]

So, it’s ok to have our investments at Fidelity and Vanguard? Thanks…

[@earlyretirementari]

We do not work with those custodians today as we prefer independent custodians so our advisors have no incentive to push one product from a fund company over one another. See here: kzbin.info/www/bejne/fn2uh36haNNribM This allows us to invest in anything we’d like (including Fidelity/Vanguard/Schwab/etc.) while allowing for a world class experience.

[@roburb73]

I am the one who truly enjoys figuring out tax strategy, investment allocation, etc. I "broke up" with my previous financial advisor. He charged 1.25% and had me in 15 funds with high expense ratios. The first year he fell behind the market by 10%, second year by 8%, third year .... Bye bye! We are in a different financial situation that doesn't require much thought. We have two pensions (military/federal employee), a VA compensation (free healthcare/dental for me), and we will have 2x social security payments. I'm 100% aggressive across all accounts in our portfolio, and will be until the day I die. It just doesn't make sense for us to pay someone when I truly enjoy the strategy. And, no one cares more about our money than we do!

[@earlyretirementari]

Sounds like you don’t need an advisor!

[@roburb73]

@@earlyretirementari Yessir! However, I do enjoy watching finance videos. It furthers my education in this space and provides me topics to research further that best fit our situation.

[@timein5021]

So, we were told that we have to move all our investments, ( 401k, 403b ) to Charles Schwabb ?

[@earlyretirementari]

You certainly never have to do anything! We work with a variety of custodians, and Charles Schwab is one of them.

[@jameymichael2589]

Hmm. So is that 1% fee annually ?

[@earlyretirementari]

Yes

[@jameymichael2589]

@@earlyretirementari -thanks for the response. I really enjoy your videos and advice. Are there 1 time flat fee options just to make sure my portfolio is set up correctly and perhaps some advice on withdrawal strategies?

[@earlyretirementari]

⁠ you’re welcome! We’ve had multiple models and we’ve found the only successful way to work with clients is on an ongoing basis so that’s how I work with clients - those looking to fully delegate their finances to focus on what’s most important to them. With that being said, you can search for one-time engagements and there are advisors that offer this!

[@pglover19]

Ari. Just want to make sure I heard you correctly. You and James are no longer taking on new clients. New clients will be matched with your other advisors. Will there be any opportunities in the future for you or James to take on new clients?

[@earlyretirementari]

James and I act as senior advisors where we oversee clients on the backend and are involved in the process for all clients, but they have a lead advisor who is their primary contact to address all of their needs and maintain a personal relationship with. They’re of the best in the industry.