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| Additional information |
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| Otto & Associates, Inc. |
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Mission statement:
We will provide comprehensive financial planning to our clients, addressing all aspects of their financial situations. If we do not have the expertise, we will find those who do.
Our "target market" client is a middle income person in orientation, although his/her/their actual income and/or assets may place them in a higher or lower category. We will help those in other income brackets find the services they need – perhaps through referrals.
We seek not only to define the specific issues of our clients’ financial concerns, but also to examine alternatives, and to do what is required to help them implement solutions. We seek to solve complex financial issues as simply as possible with the belief that complex solutions that are not understood by the client and others important to the client often have unintended results.
We do not seek market beating investment returns but rather intend to manage both risk and client expectations so as to obtain returns on investments that satisfy client goals.
We seek to be paid fairly for our services. However, we place this goal after the above goals in the belief that if we adequately provide the services outlined we will be sufficiently compensated. |
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Overview:
Otto & Associates, Inc. is a Fee-Only financial planning firm providing a full range of financial planning services. "Fee-Only" means that we do not receive commissions for selling a particular insurance policy or for investing money in a particular fund.
For us the "Fee-Only" distinction is important. Charging fees on an hourly basis or as a percentage of assets under management ensures clients that their interests are being served as impartially as possible.
We believe that making sound financial decisions begins by examining a broad range of issues. Today more than ever, financial questions - ranging from saving for college expenses to doing sound estate planning - are interrelated. Thus, we take a comprehensive look at our clients' financial profiles and offer a balanced, integrated strategy to best serve their needs. By employing a full range of planning services, Otto & Associates can work with you to solve complex financial questions and - more importantly - help you achieve your life's goals.
Otto & Associates, Inc. offers consultation and expertise in the following areas:
Investments
Retirement Planning
Budgeting and Cash Management
Tax Planning
Insurance Analysis
Estate Planning
Regarding investments, we manage assets almost exclusively by using no-load mutual funds, but we also offer advice on other types of investments such as Closed End Funds, company retirement plans, and alternative investments. Our goal is to help clients achieve the security of a diversified portfolio that will provide a solid return without undue risk. Otto & Associates buys and sells investments in consultation with our clients and, because we do not accept commissions, our clients receive unbiased asset evaluation, selection, and management. Investments are generally reviewed quarterly, or more frequently if warranted. Monthly reports are furnished by TD Ameritrade, and Otto & Associates is always available to review these reports with clients.
In analyzing retirement issues, we help clients answer such questions as: "Will I be able to maintain my standard of living when I retire?" and "Which retirement option offered by my employer is best for me?" We also provide advice on loans and credit management, mortgages and refinancing, and savings planning. In addition, to guard against unforeseen events, Otto & Associates will examine and evaluate existing life, auto, homeowners', umbrella liability and other insurance policies to determine whether clients have adequate coverage. We will also assist with income tax planning and estate planning issues, including wills, trusts, and living wills.
The first step in working with clients is a general meeting, for which there is a $450 charge. Sometimes that first meeting is all that is needed. Normally, however, at that meeting specific financial needs are identified, and within a few days clients are presented a written proposal that includes estimates of the amount of time the task will take and cost. Once the contracted work is completed, Otto & Associates can further assist clients through regular specific services, which are billed hourly or on a retainer basis. Often clients request that we manage their assets, which we do when assets are over $250,000, charging an annual fee of 1%, payable quarterly in advance. This fee is reduced to 0.5% for assets in excess of $1,250,000. |
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