Q: How can I become a client of Kring Financial Management?
The first step is to schedule a meeting in order to discuss your needs, which may be general or very specific. Your needs may fall under financial planning, investment planning, or other needs such as insurance. Our ultimate goal is to help uncover the weaknesses of your financial situation, recommending feasible and manageable improvements.
We will then help you implement your new financial plan, if needed. Most clients start with initial planning (for which we charge a fee) before commencing the investment process. If the primary focus is on investments, initial planning is not required.
Q: What are the typical fees?
The amount of initial planning and the amount of time spent working with our clients are the lead factors in determining appropriate fees for our services. Initial financial planning generally involves two meetings. During this period we usually quote a flat fee for our clients—averaging $750 to $2,000 depending on the situation.
For investment activities, fees are charged based on a percentage of assets or a commission, depending on account size and personal client preferences. It is possible for investment fees to reduce or totally offset initial planning fees depending on the size of the account.
For insurance, KFM earns a commission paid from the carrier if we act as the agent.
Q: Does Kring Financial Management offer any satisfaction guarantees?
Kring Financial is dedicated to total client satisfaction. Clients have the power to request a refund for any advice that they deem unsatisfactory.
Q: How is my plan updated?
KFM offers initial financial planning (above) and ongoing financial planning. Experience has shown that ongoing annual updates are necessary to keep clients’ plans on track with their goals and adaptable to any life changes.
We offer a $250 discount on initial planning services to clients that hire Kring Financial Management for ongoing financial planning. Ongoing financial planning services start at $750 per year if we are not managing a client’s investments. If KFM is managing a client’s investments, fees for ongoing planning may be partially or totally offset by the investment management fees.
Q: I am interested in purchasing real estate as an investment. Can KFM help?
Yes. KFM prides itself on possessing years of hands-on experience with real estate-as-investment consulting. Whether you are seeking advice on direct or indirect ownership, our team helps clients understand the ways real estate investments can fit into their financial plans. KFM will also assist in choosing proper ownership structures and funding strategies if needed or desired.
Q: What disclosures does KFM provide?
All of KFM’S disclosure information is provided on an ADV part II—an SEC disclosure form. We also provide all relevant disclosures in “plain English,” in addition to supplying prospectuses and explanatory information on compensation methods whenever they are requested.
Q: How does KFM sustain objectivity?
KFM accepts no referral fees or alternative forms of material consideration from its referral partners. We are determined to maintain neutrality with various financial service providers, basing our recommendations solely on quality of service and performance. As an independent firm, Kring Financial is not required to use any product or service if it fails to satisfy our clients’ best interests—a key advantage.
Q: What is your track record?
KFM’s role is to formulate personal financial plans based on individual needs. We therefore cannot provide clients with a “track record,” per se since one client’s investment performance is directly related to one’s personal investment needs. There is no “one size fits all” approach. If one client requires extremely safe investments, KFM may recommend a portfolio of CDs. That investment’s performance cannot be compared with another client’s where we are advising on long term “growth” portfolios.
KFM will, however, provide track records for various investments and investment managers, knowing their potential relevance to your particular financial situation.
Finally, KFM clients are very satisfied with the performance of their investments and we will provide client referrals for potential clients that desire them.
Q: What is KFM’s basic investment philosophy?
KFM does not endorse a “one size fits all” approach—all financial situations are unique. Our portfolios are custom-tailored to the client, taking into account their personal investment philosophies and considering a host of supplementary factors such as account size, client involvement, and risk tolerance.
KFM does believe in an underlying strategy of “core and explore”. We will provide exposure to about 60% of the market through investments that closely track broader benchmarks (“the core”). Within those benchmarks, we may employ indexes or actively managed funds. The “exploration” side of our philosophy involves intense market research, over- or underweighting sectors based on fundamental investment principles and market technicals. We then employ an array of frequently changing investments in order to supplement core growth.
Q: Can KFM help me buy insurance if live outside of Georgia?
KFM is only licensed for life insurance in the state of Georgia and cannot act as an agent for residents living elsewhere. However, we are often able to refer you to an experienced outside agent, assist you in acquiring the correct type of insurance for your needs, and aid in deciding on the ideal carrier for your situation.
Q: I don’t live in Georgia; can KFM invest money for me?
KFM has advisors licensed to offer and trade securities in many states. If KFM is not licensed to practice in your state, the licensure process is a simple one, but we are required to do so before assisting you with your investment portfolio.
Q: Can I access my brokerage accounts through the KFM website?
If KFM holds accounts for you through our broker/dealer (Triad Advisors, Inc.), you have online access to your account information, positions, history, etc. in our Access Brokerage section.
Q: What is KFM’s relationship with National Financial Partners (NFP)?
KFM is a wholly owned subsidiary of NFP (New York Stock Exchange: NFP). NFP provides KFM with a level of support and technology solutions typically available to only the largest national firms, as well as strategic alliances with other financial professionals to offer more comprehensive solutions.
For more information on the KFM-NFP relationship, please see our About NFP section.
Q: Who is Triad and what is their role as KFM’s broker/dealer?
Since KFM is an independent financial firm, we use the service of a broker/dealer to assist us in providing brokerage services. We use Triad Advisors, Inc., member NASD, SIPC as our current broker/dealer. Triad opens accounts on behalf of KFM clients and assists us with day-to-day transactions that occur in clients’ brokerage accounts.
Q: Who is National Financial Services (NFS)?
National Financial Services, a subsidiary of Fidelity Investments, is the firm that actually holds (custodies) the assets in KFM’s brokerage accounts. NFS is the same service used by many firms, including Banc of America Securities and SunTrust Securities. Through NFS, client accounts have the protection of SPIC insurance.
Q: What Is A CFP ®?
The CFP ® marks represent a Certified Financial Planner designation. One who has earned the CFP marks has met the education, examination, experience and ethics standards established by the Certified Financial Planners Board of Standards (CFP Board). Financial planners who earn the CFP marks should be distinguished from those who have not.
If a financial planner has earned the right to use the CFP marks, this means that he or she has met the following requirements:
Education: There are three ways to meet the CFP certification education requirement
- Completing an education program at a college or university whose curriculum is registered with the CFP Board
- Submitting a transcript of previous financial planning-related course work to the CFP Board for review and credit
- Showing the attainment of certain professional designations or academic degrees
Examination: Candidates for the CFP certification must pass a rigorous two-day, 10-hour CFP Certification Examination administered by the CFP Board that covers the financial planning process and includes such topics as tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.
Experience: Candidates for CFP certification must prove they have experience in the financial planning process before being authorized to use the CFP marks.
Ethics: Candidates for CFP certification have their backgrounds checked by the CFP Board, and must also disclose any investigations or legal proceedings related to their professional or business conduct. The CFP Board reviews all such disclosures and investigates those statements that indicate areas of concern.
Candidates must also adhere to the CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards. Once certified, CFP certificants must fulfill a biennial continuing education requirement to stay up-to-date on planning strategies and financial trends affecting their clients.