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Originally Posted by retiredguy123
Thanks. According to her website, she is a "fee-only" advisor and a certified financial planner (CFP), and she will tailor her services and advice to meet the client's specific needs. She doesn't work for commissions. As far as I know, any CFP can sell advice to clients in any state. I sent her a message asking her to explain why she cannot do business in all states.
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Som Hanvanich Ph.D. CFP(R) CFA - Member - Finance
in her bio by Garret, she can assist in implementation on an hourly or
ongoing basis , see the bolded sentences below, which is covered under the Series 63. This is covered under the RIA to go beyond CFP and actually perform the work with the client with recommendations, and its a state by state RIA registration and legal entity requirement, as in LLC. If she chooses to have FL clients, she can create a Florida LLC, register herself with all the FL requirements, and then work with FL requirements. however, if she is working for Garrett, Garrett is like we have FL reps already, so no, stay in Ohio.
Its much the same as remote workers, the company must have a legal presence in the state in which the employee is working from home. That requires a legal entity on an ongoing basis for state taxes. Most state legal requirements are for making sure that each state collects its fair share of taxes from businesses in that state, whatever taxes apply, from income to sales to labor to employment taxes.
from her bio on the above web site:
Her firm offers a wide range of financial advisory services customized to meet your needs. There is no minimum investment or long term financial planning contract requirement. You pay by the hour or the project for the advice that you need.Som does not sell securities or financial products. She also does not accept commissions from mutual fund companies, brokerage firms or any third party. Thus, you can be confident that you will receive professional objective advice that will be in your best interest.
About Services
You can choose a service or combination of services that will fit your personal needs. The services offered include:
-Retirement planning
-College funding
-Insurance needs analysis
-Investments / Investment Management-
Financial jump start plan / Financial checkup
-Portfolio analysis and review (including but not limited to 401(k), 403(b) and TSP plans)
-Tax-reduction strategies and tax planning
-Estate planning
-Customized Planning for life status change (such as marriage, illness, loss of family member)
-Cash flow analysis
You may also choose to implement the plan recommendations on your own or Som can assist you with implementation on an hourly or ongoing basis.
Som offers a complimentary, no-obligation initial meeting. You can choose if you would like to conduct this meeting in person or over the phone. During this meeting, you can decide which services you require and receive an estimate of fees for the chosen services.
About Som
Som is a member of The Garrett Planning Network, Inc., a nationwide organization of professional, Fee-Only financial advisors. Founded by nationally-recognized CERTIFIED FINANCIAL PLANNER™ professional Sheryl Garrett, Network members are dedicated to providing independent, objective financial planning services and competent, professional advice to people from all walks of life on an hourly, as-needed basis.
Som is also a member of the Financial Planning Association (FPA), the nation's largest association of professionals dedicated to the advancement of the financial planning process.
Som is a CERTIFIED FINANCIAL PLANNER™ professional. She has earned the right to use the CFP® mark of distinction after fulfilling the CFP® Board's specific experience requirements, successfully completing the CFP® certification education requirement, and passing the rigorous two-day CFP® certification exam, which requires comprehensive knowledge of investments, taxes, insurance, employee benefits, retirement planning and estate planning. To maintain certification, CFP® practitioners are required to satisfy ongoing education and ethics requirements.
Som is also a CFA charterholder. Chartered Financial Analyst or CFA (commonly referred to as the "CFA Marks") are symbols of professional credential granted by CFA Institute, a not-for-profit professional association with a mission of leading the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. She has earned the CFA charter after passing three sequential, six-hour examinations, having at least four years of qualified professional investment experience, joining CFA Institute as a member and committing to abide by, and annually reaffirm, her adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct.
Som also passed the Series 65 Exam, the Uniform Investment Adviser Law Examination administered by the Financial Industry Regulatory Authority (FINRA). The exam focuses on topic areas that are important for providing investment advice.
These areas include topics such as economics, retirement planning, portfolio management strategies and fiduciary obligations.
Prior to opening Hanvanich Financial LLC, Som earned a Ph.D. in Business Administration with a concentration in Marketing and International Business from Michigan State University. She held an academic position at Lehigh University in Bethlehem, PA and Xavier University in Cincinnati, OH, where she taught strategy, business statistics and research methods. She also widely published in academic business journals, including the leading Strategic Management Journal. Realizing that her students need more than a college degree to achieve financial freedom, Som decided to help people more directly by establishing Hanvanich Financial LLC as an investment advisory firm.
She also further strengthened her financial and investment knowledge by attending and successfully completing the Master of Science in Finance program at the University of Illinois, Urbana-Champaign.
Som and her husband live in Dayton, Ohio. She enjoys many pursuits, including amateur hiking, snow shoeing, reading and watching hockey.
For additional information, service descriptions and a fee schedule, please visit the Hanvanich Financial website or call or email Som directly to set up an appointment.
end of copy of her bio at Garrett
If here answer is substantially different, i would like to know what I am missing.