Frequently Asked Questions
Frequently Asked Questions
We provide fiduciary, fee-only wealth management services to individuals, families and small businesses.
Is hiring an advisor too expensive?
- Yes, if you hire the wrong advisor. However, according to Vanguard’s Advisor Alpha study, working with an advisor like Wichita Wealth can provide up to 3% plus in net returns to clients.
- Here is a link to the study: Advisor Alpha Study
Will hiring and working with an advisor take too long?
- Not at all! For first year clients, we estimate they only invest 10 to 15 hours. This includes time spent gathering information and documents, as well as 2 to 3 meetings as first year clients.
- After the first year, we estimate clients only have to invest 3 to 5 hours. This includes time spent gathering information, as well as our annual spring strategy call and annual fall strategy meeting.
How do I know if I am the right fit for Wichita Wealth?
The easiest place to start is to visit our page Who We Serve.
What if I find out I am not a good fit?
If either of us at any point in the process feel we are not a good fit for the other, we will be happy to help you find the right resource and/or advisor for you!
How long does it take you to respond to me?
For clients and prospective clients, we do our best to respond to emails and phone calls within 1 business day.
How do you provide clear and timely communication?
We provide clear and timely communication in multiple layers…
- We do our best to respond to clients and prospective clients emails and phone calls within 1 business day.
- We reach out to clients for a meeting and/or phone call twice a year. Once in the spring and once in the fall.
- We send a monthly client-only communication (similar to a newsletter) that covers thoughts on investing or markets, as well as anything else that has happened that may be relevant to our clients.
- As deadlines approach, we send communications such as 1099 letters and/or RMD letters. These are specific to clients who are impacted.
What are the next steps to work with me?
You can go to our contact page and schedule an initial phone consultation.
What are the next steps if I don't want to work with you?
- If you become a client then decide we are the wrong fit, you can cancel at anytime. All of our clients are on a month-to-month basis. So, you will not be locked into any long-term contract or commitment.
What if I am unsure if I want to work with you?
How do You Manage My Investments?
We do not try to predict the price of gold or the direction of the S&P 500. These things are like sprinting. Sprinting gets you somewhere fast but it cannot take you far. However, life and investing is a marathon. We want to go far so we make a plan so you do not run out of money!
Our Pillars of Investing include:
- The long-term trend of the markets is up.
- Market timing and picking individual stocks is not a good long-term strategy. There are exceptions but they do NOT prove the rule.
- Owning and holding stock in high-quality companies is the best inflation hedge.
- Being broadly diversified across a range of asset classes is the ticket to long-term success.*
- We focus on what we can control such as asset allocation and investing selection.
- Maintaining discipline to stay invested.
Everyone says they do “tax planning” but what does that actually mean?
When you retire, you have five tax brackets you must manage: 1) Federal income tax bracket 2) State income tax bracket 3) Capital Gains tax bracket 4) Social Security tax bracket 5) Medicare Part B & D surcharge bracket.
Most people are overwhelmed by this, so they do nothing and overpay the IRS.
The following are some of the strategies and tactics we use to ensure you are NOT overpaying the IRS:
- Annual tax projections & opportunity hunting
- Assess the short-and-long term impact of various tax strategies on your finances.
- Strategic Roth conversions and Roth recommendations
- Long-term tax efficiency vs. short-term tax savings
- Consider opportunities to minimize or offset taxes.
- Planning around Medicare Part B and D premium surcharges
- Collaboration with your CPA or tax professional to ensure everything is reported correctly and minimize your audit risk.
- Analyze your tax returns to determine whether there are tax planning opportunities.
When serving clients, we focus on four key values: competence, coaching, convenience, and continuity. We echo these values in everything we do, from charitable giving to tax planning to wealth management.