Frequently Asked Questions
Q: What is Fee-Only Financial Planning?
We’re so glad you asked! Simply put, it means that we do not “sell” financial products or accept outside compensation, ensuring that our primary incentive is to act in your best interests.
Before working with any financial professional, make sure you understand exactly how that person gets paid. If they are getting paid commissions by an insurance company, broker or bank to sell you a product, they might not always have your best interests in mind. Advisors who are not fee-only often make high commissions from certain investments or products (i.e. variable annuities) and those may not be in your best interest.
Q: What is your definition of financial planning?
Real financial planning involves more than just investments! We work with you to define and set life goals. Then we help implement and monitor your plan, available to make the necessary adjustments as circumstances change.
Our comprehensive financial planning approach not only focuses on investment advice, but includes setting goals, retirement planning, evaluating your insurance needs, tax planning, estate, and cash-flow planning.
Q: Do you work hourly?
Yes! We are proud to offer hourly financial planning services, along with flat-fee investment management if needed.
Q: Where are you located and how to you operate?
Our office is in beautiful Blue Mountain Beach, Florida, and part of our team lives in Atlanta, Georgia.
We are not bound by location - we can serve clients through remote meetings, screenshare, and secure file transfer.
Q: How much do your services cost?
Please see Our Services listed here. We provide ongoing asset management support that includes comprehensive financial planning for a low quarterly-free, and we can also support you on an hourly basis. In general, our services have a significantly lower all-in cost than what you will find with advisors from more known national brands.
Q: Do you have asset minimums and which service should I choose?
No. We do not impose asset minimums to work with us. Our goal is to make professional financial planning and investment advice accessible to everyone without selling any products.
Every situation is different. If you are just getting started and building wealth, or you enjoy “doing it yourself” then you are best served through our hourly planning model. We’ll make sure you have a solid plan, and you can check back in with us in the future.
As wealth grows, there are often more moving parts, more complexity, more decisions that you’ll need to make. In that case our ongoing wealth management relationship may be a better fit.
Q: What is your investment philosophy?
Simple beats complex every day, and fees are vampires in the investment industry. We believe in low-cost, tax efficient, broadly diversified investing. This means a long-term buy-and-hold strategy using low-cost index funds and ETFs with periodic rebalancing.
Data over time has shown that a diversified portfolio with an asset allocation based on your goals, time horizon and risk tolerance, combined with a focus on minimizing investment expenses and taxes, will increase the likelihood of reaching your goals.
Q: How do you screen mutual funds & ETFs?
We believe in index fund investing. Most active money managers do not beat the market, so you should not pay more for their “expertise.” Morningstar found that investors should make expense ratios a primary test in fund selection… both for overall cost and better performance.
Ignoring costs means an investor leaves money on the table. Livingston Financial Planning uses low-cost mutual funds primarily from Vanguard or DFA Advisors. Exchange Traded Funds (ETFs) from iShares, Vanguard and State Street have low expense ratios, so we also use those where appropriate.
Q: How do you manage risk?
Risk is part of the investment world. It is impossible to avoid risk. At Livingston Financial Planning we know the best way to manage risk is through a diversified portfolio. However, your portfolio must be constructed with your risk tolerance, risk suitability, and your life goals in mind.
In addition to investment risk, we also help our clients by assessing risk their insurance coverage needs including life, liability, homeowners, auto and health insurance. We do not sell insurance, but we do partner with firms that can help you get the coverage you need at a reasonable price.
Q: How much should I hold in savings?
An emergency fund should be a top priority, and you should keep at least 3-6 months of essential living costs in it. Any funds needed in less than two to three years should be invested only in money market funds, savings accounts, Treasury Bills, short term bond funds or cash. We’re happy to help you figure out what this looks like for you!
Like a lighthouse to a ship at sea, we guide our clients to their financial goals.