Is there a fee for the initial consultation? What should I bring to my first meeting? 

No, there is no cost for the initial consultation. We will email you prior to your meeting a list of items including recent statements, and a ballpark income/expenses list, however, it is okay to not have all of those things at the first meeting. 

Where are my investments held? 

Accounts are held at LPL Financial, and you will see both Texas Wealth Partners and LPL Financial across the top of each statement. 

How often is an investment portfolio reviewed? 

Semi-annually there should be a comprehensive review to assess performance and asset allocation. As for portfolio rebalancing, a quarterly review is more appropriate, unless there has been a major life event. 

What are the costs to work with Texas Wealth Partners? 

Costs vary depending on the investment advice level and the investments you select. You'll know up front exactly what you will pay for our services. 

What makes you different asset managers from others?

After a combined twenty years of experience in the financial services industry, we've seen how clients can be placed in target date funds or model portfolios that may not align with their goals for their accounts. We create individualized portfolios for each client based on time horizion, risk tolerance, and your own preferences. Money is personal, your portfolio should be, too.

How much life insurance do I actually need? 

Life insurance needs vary based on your income, financial status and obligation, number of dependents, and long-term goals. It is not a "purchase and forget it" method and should be reviewed as often as circumstances change. 

I have group insurance at work. Isn't that enough?

It depends. Often, group insurance is not portable - it can't be taken with you when you retire. If you still require life insurance through retirement, it is better to set those policies up before they're necessary. 

What's the difference between term and whole life?

Term life insurance is "use it or lose it." You are protected throughout the term, but not for any additional time, and it does not build up a cash value as you pay a premium like whole life. Whole life insurance provides permanent coverage that lasts your entire lifetime. 

How often should our 401k plan be reviewed?

Annually. A business can generally change its 401k plan design, match formulas and eligibility rules once a year during normal plan amendments, and you should always take the time to ensure you're not overpaying for 401k services. 

Am I offering the right products and services to my employees?

We help business owners know exactly what they should be offering, what they're overpaying for, and benefits they could be offering to their employees. 

How do I create a business succession plan?

A well-executed business succession plan is created by defining your goals for the business, identifying your successors, meeting with an attorney who specializes in legal documents, and training the next leader. We can help every step of the way. 

What should I expect from meeting with a financial planner?

Our first meeting is an introductory meeting. We will ask questions around your goals, current financial situation, and what you hope to gain from working with a wealth advisor.  

Do I need a financial plan?

Every person benefits from a financial plan. A plan simply translates your income and expenses into actionable goals.  

I'm young. Do I need estate planning documents?

Absolutely. Basic estate documents ensure your voice is heard and your affairs are handled by someone you trust. 

How does estate planning fit into financial planning?

Estate planning is the protective wrapper for the wealth you accumulate. Proper estate planning ensures your assets are distributed and your wishes are honored. 

How often should my estate plan be updated?

Every time you have a major life event (marriage, divorce, birth of a child, etc.) your estate plan should be updated.