Frequently Asked Questions

A financial advisor can help you organize your finances, evaluate important financial decisions, and develop a plan based on your goals and circumstances.

At Core Wealth Management, our work can include financial planning, investment management, retirement planning, cash flow analysis, tax planning, education funding, insurance analysis, and estate and charitable planning. The specific areas we address depend on your needs. Our goal is to consider these decisions together rather than in isolation.

A fee-only financial advisor is compensated solely by clients rather than through commissions from the sale of financial products.

Core Wealth Management is a fee-only advisory firm. Our compensation comes from our clients through financial planning fees and investment management fees. We do not receive commissions for recommending or selling investment products.

This compensation structure is intended to reduce certain conflicts of interest associated with product-based compensation. Like all investment advisers, we are also required to disclose material conflicts of interest that may exist.

A fiduciary financial advisor is required to act in the best interests of clients when providing investment advice.

Core Wealth Management is a registered investment adviser and has a fiduciary duty to its advisory clients. This includes duties of care and loyalty and an obligation to disclose material conflicts of interest.

Being a fiduciary does not mean that conflicts can never exist. It means those conflicts must be appropriately addressed and disclosed.

We work with individuals, families, retirees, professionals, and business owners who want help coordinating financial planning, investments, retirement, and tax considerations.

Our comprehensive wealth management services are designed for individuals and families who value an ongoing relationship that integrates financial planning and investment management.

An introductory conversation can help determine whether our services and approach are appropriate for what you need.

A comprehensive financial plan considers the different parts of your financial life and how they interact. Depending on your circumstances, planning may include cash flow, investments, retirement, Social Security, taxes, insurance, education funding, estate planning, charitable giving, and other financial priorities.

The purpose is not simply to produce a financial plan document. We use the planning process to identify your goals, evaluate strategies, consider potential trade-offs, and identify planning opportunities. The plan serves as a roadmap, providing direction while requiring updates as your circumstances and goals change.

Investment management is one component of your overall financial plan. We develop an investment strategy based on factors such as your risk profile, time horizon, income sources, financial goals, and other assets. Your portfolio is then managed with consideration for the rest of your financial life.

Taxes can affect many financial and investment decisions. When evaluating planning opportunities and managing investments, we consider relevant tax implications alongside your broader financial goals. Our financial planners can work alongside tax professionals so that tax considerations are incorporated into the financial planning process and, where appropriate, the management of your investment portfolio.

A financial plan should be reviewed periodically to evaluate whether you remain on track, as well as when your circumstances change. Retirement, a job change, changes in income, an inheritance, the sale of a business, marriage or divorce, or evolving financial priorities may all warrant revisiting your plan. Financial planning is an ongoing process rather than a one-time exercise.

Determining whether you're on track for retirement involves more than reaching a particular account balance. We use financial projections to illustrate what retirement may look like based on certain assumptions and to help guide current decisions involving savings targets, potential retirement timelines, Social Security and pension claiming strategies, and tax planning.

Because projections depend on assumptions about future returns, inflation, spending, longevity, and other variables, they cannot guarantee a particular outcome. They can, however, provide a framework for evaluating where you stand and what adjustments may be appropriate.

Retirement cash flow can come from multiple sources, including Social Security, pensions, traditional and Roth retirement accounts, taxable investment accounts, and other assets. These sources can have different tax characteristics.

We help evaluate the timing and source of retirement income and investment withdrawals while considering cash flow needs, taxes, required distributions, and potential Medicare premium implications over time.

An IRA rollover is one option when leaving an employer, but it is not automatically the appropriate choice for everyone.

Factors to consider can include investment choices and expenses, services available through the employer plan, withdrawal needs, creditor protections, account consolidation, tax considerations, and other features of the accounts involved. If the plan holds appreciated employer stock, potential Net Unrealized Appreciation (NUA) treatment may also be important to evaluate before completing a rollover.

The available alternatives should be compared based on your individual circumstances before deciding whether to leave assets in an employer plan, roll them to an IRA, or pursue another available option.

A concentrated stock position can expose a significant portion of your wealth to the performance of a single company. At the same time, selling highly appreciated shares can create tax consequences.

We help clients evaluate the size and risk of the position, cost basis, unrealized gains, potential sale schedules, charitable gifting opportunities, and other relevant strategies. For employer stock held in certain retirement plans, Net Unrealized Appreciation (NUA) may also warrant consideration.

The appropriate approach depends on how the shares are owned, your tax situation, financial goals, and the role the stock plays within your broader financial plan.

Charitable giving can be coordinated with investment, tax, retirement, and estate planning.

Depending on your goals and circumstances, strategies may include gifts of cash or appreciated securities, donor-advised funds, qualified charitable distributions from IRAs for eligible individuals, or other forms of lifetime and legacy giving.

For investors who own appreciated securities, donating eligible shares directly rather than selling them first may avoid recognizing the associated capital gain. Charitable deductions and other tax benefits are subject to applicable tax rules and limitations.

Education costs can be funded from a combination of resources, including 529 plans, current income, taxable investments, other savings, scholarships and grants, and borrowing when applicable.

We help families estimate future education expenses, evaluate 529 plans and other savings options, and consider how much to allocate toward education while continuing to address retirement and other financial priorities.

As college approaches, planning can also shift toward determining which resources to use and how withdrawals may affect cash flow, investments, and taxes.

Core Wealth Management is a fee-only financial advisory firm. We are compensated by our clients and do not receive commissions from the sale of investment products.

Fees depend on the services provided. Financial planning may be offered on an hourly or project basis, while ongoing investment management fees are generally based on assets under management.

Specific fees and applicable minimums are provided before you enter into an advisory relationship and are described in our current regulatory disclosures.

The first step is an introductory conversation to learn about your financial situation, what you are looking for from an advisor, and the areas where you may need help. It also gives you an opportunity to learn about our services, approach, and fees and determine whether Core Wealth Management is a good fit for you.

There is no cost or obligation for the initial conversation.