Frequently Asked Questions

What is a fiduciary, and why is it critical for managing my wealth?
A fiduciary acts in your best interest, prioritizing your financial well-being above all else. At Franklin Madison Private Wealth, we embody this principle by ensuring there are no conflicts of interest in our advice – you’ll never be steered towards investments for our gain. As a Registered Investment Advisor, we’re legally committed to this standard, offering you peace of mind that your wealth is managed with the highest integrity and professionalism, akin to the responsibility held by accountants, doctors, or attorneys.

What does “fee-only” mean in wealth management?
In the wealth management environment, advisors can be compensated in three ways:

• commission-based
• a mix of commission & fees
• fee-only

Franklin Madison Private Wealth operates on a fee-only basis, which means our compensation comes directly from you for the services we provide, whether that’s hourly, a retainer, a percentage of assets managed, or a flat fee. This model aligns our success with yours, ensuring transparent and unbiased financial advice.

Are you licensed and how are you regulated?
Yes, we’re registered and licensed, operating with the authorization to provide services across the country, adhering to specific state regulations where necessary. Our activities are overseen by the Pennsylvania Department of Banking and Securities and the New York Investor Protection Bureau, ensuring we meet the highest standards of financial regulation and consumer protection.

How do we connect and where are you based?
While our principal office is in Pittsburgh, Pennsylvania, we’ve embraced a virtual model to serve you better. This approach allows us to meet with you virtually all across the country, offering flexibility and convenience, ensuring we’re available when you need us, regardless of location. For more details on how to connect, schedule a call.

How do you protect my personal information?
Your privacy is paramount. We make every effort to ensure that  your personal information is secure and will never be sold or shared with third parties without your explicit consent. Our commitment to your privacy is unwavering, ensuring your data is always protected.

What should I prepare for our initial discussion? For our first call, come prepared with any questions you have about your financial journey. This session is designed to explore your financial landscape and evaluate how we can best work together. Once we decide to move forward, we’ll dive deeper into your financial details in subsequent meetings, ensuring a tailored approach to your wealth management.

Where do our meetings take place?
Our clients enjoy the convenience of meeting virtually, allowing discussions from the comfort of your home or office. Utilizing Zoom, we ensure our meetings are both personal and professional, adapting to your schedule for maximum convenience.

Do you offer flexible meeting times?
Absolutely. Recognizing the busy lives of our clients, we offer virtual meetings with the flexibility of evening and weekend appointments, ensuring we’re available when it suits you best.

What encompasses a financial plan with your firm?
Our Life & Wealth Planning is a comprehensive roadmap, tailored to bridge the gap between your current financial situation and your legacy goals. It’s a personalized strategy that includes retirement planning, investment advice, and risk management, among other elements, designed to navigate you towards your financial goals.

What is the timeline for developing a financial plan?
Crafting your personalized financial plan typically requires 15-30 hours of dedicated work, resulting in a complete strategy within 6-8 weeks from our start date. This timeline ensures a thorough and considered approach to your financial future.

How much involvement is required from me during the planning process?
Your engagement can vary, but generally, expect to dedicate 4-8 hours, excluding the time spent gathering necessary financial documents. This ensures a comprehensive understanding of your financial landscape, allowing us to craft the most effective plan for your needs.

How frequently will we touch base during the planning phase?
After formalizing our financial planning agreement, we’ll set up a series of meetings to kickstart the process. This includes an onboarding session to familiarize you with our planning tools and document submission procedures. Communication continues as needed through email, calls, or virtual meetings to ensure all your questions are answered and your plan accurately reflects your financial situation.

What information will I need to provide?
To offer bespoke financial advice, we need a holistic view of your finances. During our onboarding, we’ll guide you through the documents needed, such as account statements, loan details, pay stubs, tax returns, and insurance policies, among others. This detailed insight enables us to tailor our recommendations precisely to your situation.

How do I implement my financial plan?
Upon receiving your financial plan, you’ll be equipped with a clear implementation schedule. Our ongoing advisory services include regular check-ins to monitor your progress and adjust strategies as needed, ensuring you remain on track towards achieving your financial independence.

Can you describe your investment philosophy?
Our investment strategy is built on discipline, focusing on long-term, low-cost, tax-efficient investments. We believe this approach, rather than chasing market trends, lays the foundation for sustainable growth and financial resilience.

Who safeguards my investments?
For managed investments, we partner with Charles Schwab as our preferred custodian. This ensures your investments are held securely, underpinned by a trusted institution that shares our commitment to your financial well-being.

How often will we review my investments?
The frequency of investment reviews is tailored to your preferences, ranging from quarterly to annually. Our goal is to meet your needs, ensuring you’re comfortable and informed about your investment strategy every step of the way.

How do we get started?
Schedule an 30-minute introductory phone call to learn how we can help you get your financial house in order so you can build your legacy.