Frequently Asked QuestionsWhat are Hoosier Financial's specialties?
We take pride in being able to specialize in the following areas:
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Whether you need answers to a few questions or you require comprehensive planning and asset management you can count on Hoosier Financial to provide you with unbiased guidance.
Who is your typical client?
We prefer to work with those who are serious about their financial well-being. This includes families, working professionals, non-traditional couples, retirees, non-profit organizations and even those who are just starting out.
We also work with small and mid-sized businesses and institutions helping them set up or improve their retirement plans or, in the case of non-profit entities, providing investment consulting and management.
Is there a minimum account size or income level required?
There is no minimum for hourly financial analysis and advice. We recommend a minimum portfolio value of $150,000 for asset management services.
What are asset management services?
Asset management is an ongoing relationship with professional responsibility and accountability. This service provides a written investment policy statement or IPS as well as a scientific analysis of your risk tolerance and financial personality. Your investments are managed according to your investment policy statement. Over time we address financial planning needs as part of the asset management fee.
What is an investment policy statement (IPS)?
An investment policy statement helps to take the emotion out of investing. It helps you to address issues before it is too late. An IPS outlines your investment objectives, income needs, time frames, asset mix guidelines, security selection criteria and review process. It helps you stay the course and reach your long-term goals while avoiding overreaction during market downturns.
Investment policy statements are particularly helpful to non-profit organizations. Board members may change but the organization's plans and goals stay the same. An IPS provides the peace of mind that due diligence has been accomplished for the organization.
How is my financial personality determined?
We use the results of your risk tolerance evaluation as well as personal interviews and information gathering to determine your financial personality.
What does the risk tolerance evaluation involve?
We proudly use Fina Metrica as part of our risk tolerance evaluation. FinaMetrica's risk profiling system has gained international recognition. Developed and trialled in Australia over four years with the assistance of the University of New South Wales' Applied Psychology Unit, the FinaMetrica system was launched in 1998 and is now being used by leading financial advisers not only in Australia but around the world, including the US and the UK.The system provides a scientific assessment of an individual's personal financial risk tolerance in plain English. The system uses psychometrics to ensure validity and reliability. The 25-question risk tolerance questionnaire can be completed in 15-20 minutes and the comprehensive risk profile report is available immediately.
How does your cost compare to other advisors?
You cannot control or predict the markets and the economy. Fees and expenses, on the other hand, are things that you have complete control over. Our fees are very competitive. We are generally able to reduce client fees by up 50% compared to their existing relationship. Hoosier financial will provide you with a written quote prior to beginning the relationship.
Are you a fiduciary? What exactly does that mean?
Yes. Hoosier Financial is a Registered Investment Advisor (RIA) with the state of Indiana. The Securities and Exchange Commission (SEC) places a fiduciary requirement on RIAs. The word fiduciary comes from the Latin fides, meaning faith, and it's modern equivalent, fiducia, meaning trust and confidence.
How do I begin? What does an initial meeting involve?
Call or email us to set up an initial consultation. During the initial consultation we will conduct our standard discovery process. The initial meeting provides an opportunity to ask questions and explore how financial planning and investment management will help your particular situation. Once we have gathered the necessary information we will be able to provide you with recommendations for next steps as well as a written quote.
We realize that talking about money is difficult, especially considering that we are raised with money attitudes that may need to be modified to help us plan for a successful future. Your personal information is held in the strictest of confidence.
There is no obligation to commit to a relationship at the initial meeting.
Do you have evening or weekend hours?
We are happy to meet with you at your convenience including evening and weekends.
From whom will I receive my account statements?
Your statements will be generated and mailed to you directly by our custodian (Trade PMR) on a monthly basis (or quarterly for less active accounts). Since we do not issue or control your statements, we have no ability to alter or intercept them. By having your statements sent to you directly by our custodian, you can be sure that the statements you receive are official.
Are my accounts insured?
Yes. Your accounts will be insured by the Securities Investor Protection Corporation (SIPC) for up to $100,000 in cash and up to $400,000 in securities. While the nature of the SIPC insurance coverage is to protect you against actually losing the cash and/or securities you hold in your brokerage account due to the failure of the brokerage firm itself, this insurance does not protect you against market-related losses. Please visit the SIPC to learn more.
Who is your typical client?
We prefer to work with those who are serious about their financial well-being. This includes families, working professionals, non-traditional couples, retirees, non-profit organizations and even those who are just starting out.
We also work with small and mid-sized businesses and institutions helping them set up or improve their retirement plans or, in the case of non-profit entities, providing investment consulting and management.
Is there a minimum account size or income level required?
There is no minimum for hourly financial analysis and advice. We recommend a minimum portfolio value of $150,000 for asset management services.
What are asset management services?
Asset management is an ongoing relationship with professional responsibility and accountability. This service provides a written investment policy statement or IPS as well as a scientific analysis of your risk tolerance and financial personality. Your investments are managed according to your investment policy statement. Over time we address financial planning needs as part of the asset management fee.
What is an investment policy statement (IPS)?
An investment policy statement helps to take the emotion out of investing. It helps you to address issues before it is too late. An IPS outlines your investment objectives, income needs, time frames, asset mix guidelines, security selection criteria and review process. It helps you stay the course and reach your long-term goals while avoiding overreaction during market downturns.
Investment policy statements are particularly helpful to non-profit organizations. Board members may change but the organization's plans and goals stay the same. An IPS provides the peace of mind that due diligence has been accomplished for the organization.
How is my financial personality determined?
We use the results of your risk tolerance evaluation as well as personal interviews and information gathering to determine your financial personality.
What does the risk tolerance evaluation involve?
We proudly use Fina Metrica as part of our risk tolerance evaluation. FinaMetrica's risk profiling system has gained international recognition. Developed and trialled in Australia over four years with the assistance of the University of New South Wales' Applied Psychology Unit, the FinaMetrica system was launched in 1998 and is now being used by leading financial advisers not only in Australia but around the world, including the US and the UK.The system provides a scientific assessment of an individual's personal financial risk tolerance in plain English. The system uses psychometrics to ensure validity and reliability. The 25-question risk tolerance questionnaire can be completed in 15-20 minutes and the comprehensive risk profile report is available immediately.
How does your cost compare to other advisors?
You cannot control or predict the markets and the economy. Fees and expenses, on the other hand, are things that you have complete control over. Our fees are very competitive. We are generally able to reduce client fees by up 50% compared to their existing relationship. Hoosier financial will provide you with a written quote prior to beginning the relationship.
Are you a fiduciary? What exactly does that mean?
Yes. Hoosier Financial is a Registered Investment Advisor (RIA) with the state of Indiana. The Securities and Exchange Commission (SEC) places a fiduciary requirement on RIAs. The word fiduciary comes from the Latin fides, meaning faith, and it's modern equivalent, fiducia, meaning trust and confidence.
How do I begin? What does an initial meeting involve?
Call or email us to set up an initial consultation. During the initial consultation we will conduct our standard discovery process. The initial meeting provides an opportunity to ask questions and explore how financial planning and investment management will help your particular situation. Once we have gathered the necessary information we will be able to provide you with recommendations for next steps as well as a written quote.
We realize that talking about money is difficult, especially considering that we are raised with money attitudes that may need to be modified to help us plan for a successful future. Your personal information is held in the strictest of confidence.
There is no obligation to commit to a relationship at the initial meeting.
Do you have evening or weekend hours?
We are happy to meet with you at your convenience including evening and weekends.
From whom will I receive my account statements?
Your statements will be generated and mailed to you directly by our custodian (Trade PMR) on a monthly basis (or quarterly for less active accounts). Since we do not issue or control your statements, we have no ability to alter or intercept them. By having your statements sent to you directly by our custodian, you can be sure that the statements you receive are official.
Are my accounts insured?
Yes. Your accounts will be insured by the Securities Investor Protection Corporation (SIPC) for up to $100,000 in cash and up to $400,000 in securities. While the nature of the SIPC insurance coverage is to protect you against actually losing the cash and/or securities you hold in your brokerage account due to the failure of the brokerage firm itself, this insurance does not protect you against market-related losses. Please visit the SIPC to learn more.