Frequently Asked Questions

Any individual seeking objective financial counsel who wants to pay only for what they receive. Many seek a long-term relationship without a long-term contract, high-priced retainer fee or hidden costs. Clients have the flexibility to work with us on either a one-time, as-needed or ongoing basis. Our clients want to be in charge of their financial future and to consult with an expert to guide them.

Our clients come from a variety of backgrounds: from new graduates to retirees, small business owners to corporate executives, young parents to grandparents, and anywhere in-between in these groups. However, the profile of a typical client might be:

• Middle to high income individuals or families
  

• Good savers who are willing to work at achieving a secure financial future

• Strong accountability to themselves to “get things done”

• Preference for objectivity and honest answers to difficult questions 

• Individuals who spend more than they earn, struggle with debt.
  
• Day traders, stock pickers, looking for a brokerage type relationship.
  
• Individuals who want to delegate all financial decisions.
• Individuals who are seeking an especially "high-touch" relationship with their financial advisor.

Fee-Only advisors are those who are paid solely by the client. They do NOT accept commission on products sold or any other forms of compensation from third parties, eliminating conflicts of interest related to compensation and allowing for objective advice.

Most Fee-Only advisors' primary compensation is through fees related to managing client investments. TFC is distinct because we are solely compensated by the hour to provide financial and investment advice for our clients.

No, however, we do provide hourly advice and give specific recommendations. The client can then self-implement or go to a discount brokerage firm like Fidelity, Schwab, Scottrade or Vanguard.

No, Some other firms have net worth minimums, but we believe that quality financial planning is for everyone.

Financial planning fees vary from client to client based on the specific service areas required and the complexity of the situation; however all time is charged at our $240 or $320 hourly rate. To get an idea, see the Fee Table. To get a firm quote, call us to set up a free initial consultation.

• Depth of Knowledge: Access to up-to-date expertise from our experienced team of professionals.

• Objectivity: Confidence that the advice you get is objective and independent.

• Customized Advice: Solid financial advice reflecting your unique situation with specific recommendations to equip you to move closer to your goals.

It may seem overwhelming at first, but our job is to partner with you to take charge of your financial future. We begin the process by collecting your data. We have a questionnaire that is designed to be thorough but easy to use. Many of our clients find this data gathering part to be extremely helpful in and of itself. It provides clarity and organization that they can continue to use in the future.

Next, we do an in-depth review of your current financial situation, then assess your objectives, risk tolerance and priorities to provide you with specific advice and recommendations in a clearly written plan for you. At the presentation meeting we review the recommendations in detail and will answer any questions you might have. You may, like many clients,continue to engage us to answer future questions or to assist with implementation of our recommendations.

After the initial engagement, we offer ongoing services, periodic reviews and day-to-day consultation done upon your request only. Clients are welcome to contact us for annual checkups, updates if they have a life change, or if they just have a financial question that they want answered. All future work is billed in one minute increments at our current hourly rate of $240 or $320 per hour.

We typically reserve one evening per week for appointments with individuals who have no flexibility in their schedule. This is a popular day so it tends to fill quickly. However, we do not offer weekend hours.

We have served clients in AR, AZ, CA, CO, CT, DC, FL, GA, IA, IN, MD, MI, MN, MO, NC, NE, NM, OH, PA, SC, TN, VA and WI.

Our clients widely vary but an average engagement might be 15-17 hours or about $3900, though we have clients who have only needed 1 hour as well as those who have exceeded 50 hours.

Timothy Financial may offer hourly fee-only financial planning for clients all over the country (see disclosure page), but many of our clients live or work in Wheaton, Chicago, Arlington Heights, Glen Ellyn, Naperville, Oak Park, and St. Charles. Contact our office to set up a no-charge introductory consultation.