A fiduciary is someone who is legally and ethically required to put your interests ahead of his or her own. At Chisholm, we are Certified Financial Planners, and as such, we have a fiduciary responsibility to you.
More importantly, it is our underlying philosophy, not a regulatory regime, that compels us to act in your best interest. At Chisholm, our client/planner relationship is structured as a team working together to accomplish your financial planning objectives. Together, we identify your goals, build a plan, and implement the steps necessary to achieve a financial victory. Our success is entirely dependent on you accomplishing your goals, so our interests are naturally aligned.
Compensation in the financial planning industry is illusive, strategically complex, and downright unclear. Generally, planners are compensated in one of two ways: by selling financial products and receiving a commission or, by being paid directly by the client for their time, advice, and work product— much like an attorney or accountant. We strongly encourage you to work with someone who takes a fee directly from you and provides services in the form of reports and advice.
Chisholm’s financial planning fee structure is not tied to financial products but instead focuses on the strategies and tactics you should employ to achieve financial victory— put simply, where and how you should save, spend, and invest your money.
After you understand who is paying your planner (a product or you), be sure to understand the scope of services and work product you will receive. At Chisholm we have both packages and hourly services tailored to specific types of clients. These packages clearly outline what areas of your financial plan will be covered (e.g. house purchase, college planning, etc.). This helps us control your cost and provides a clear description of the work product you can anticipate receiving.
A note on pricing: we strongly encourage you to work with a planner within your budget, but do not pick solely on pricing. Financial planning advice is not a commodity. It is important you work with a well-qualified individual whom you like and trust.
Our approach provides a strategic lens to evaluate our performance as the leader of a team working together to achieve your financial planning objectives. We are responsible for leading you through the process of defining your financial goals, building and implementing a plan to reach your goals, and adapting when your financial priorities change. You are responsible for communicating your priorities and keeping us up-to-date on any life and financial changes.
Our client/planner relationship has four components.
We work together, mutually supporting one another for the singular purpose of mission accomplishment. Working with the client, we define your financial mission, create a plan to accomplish your goals, and adjust the plan as things change. You provide us your perspective and financial priorities; Chisholm provides data, expert analysis, and feedback illustrating your financial options and realistic outcomes.
Financial planning has inherent layers of complexities, but it is our job as the leader of the financial planning team to present information clearly, and to effectively communicate it to the client. We build plans and implement tactics that are simple, clear, and concise so everyone on the team understands the scope of the mission and strategies employed to accomplish it.
Prioritize and Execute
To successfully address all financial planning challenges, we must prioritize and execute your goals. Financial planning is dynamic. As your life changes, financial priorities can change, so part of success will require we quickly re-prioritize and adapt to any new circumstances.
For maximum effectiveness, both client and planner must understand the overall mission, their role on the team, and be free to make decisions and execute the tasks necessary to accomplish the mission. The client must have clearly delineated responsibilities and ability to execute, and we must successfully communicate not just what the client needs to do, but why he is doing it.
*Inspired by the warrior ethos, of “Extreme Ownership”, which requires we take extreme ownership in all things, and apply unmitigated discipline to achieve our objectives in business and in life, we employ the four laws of combat to successfully navigate our relationship with clients. These laws, developed on the battlefield, under the most stressful of circumstances, can be applied to any aspect of life requiring leadership and accomplishment of a mission.
Inspired by the Cowboys who traveled the Chisholm Trail in search of financial rewards and a better life, Chisholm was founded on the belief that we too are pioneers of our own financial destiny. We believe that individual freedom is the ultimate objective of a life well lived and financial freedom is the central component.
With this as our guiding principle, we work with clients to structure their goals, strategies, and tactics in a way that puts them on a path towards financial freedom.
At Chisholm, we urge our clients to look at financial planning through this lens, and to live in a way that reflects the cowboy spirit— understanding that life offers freedom, purpose, and prosperity to those of us who take it.
Book A 30 Minute FREE Consultation!
During our consultation we will:
- Discuss your financial goals & current situation.
- Walk you through our services, process, and pricing.
- Discuss the next steps in your financial planning journey.