Ask a CFP

1.     Services Provided

Client agrees to provide Purposeful Strategic Partners (PSP) with all current material and information pertinent to his/her financial and investment situation, and all financial or investment recommendations shall be made by PSP based on this provided information. It will be the Client’s responsibility to advise PSP of the investment objectives of the account(s) and of any changes therein.  PSP will rely upon this information in managing Client account(s) and it is important that it be kept up to date. 

Hourly Financial Planning Engagement 

Ask a CFP service is an Hourly Financial Planning Engagement consisting of a one-hour meeting. Additional work can be engaged in under an additional engaging including but not limited to another Ask a CFP meeting, through ongoing Hourly Planning, or another PSP Service. Hourly Financial Planning is defined as planning which explores and covers the specific topics identified by the client during the meeting or pre-meeting communication. The engagement will be limited to aspects of financial planning mutually identified and agreed to by PSP and the Client.

Financial Recommendations

The engagement will result in a set of recommendations for the client limited in scope to the topics and areas agreed to. Due to the limitations of the one-hour meeting model a formal financial plan will not be generated. PSP will take care to review all pertinent Client data and objectives and mutually agreed upon assumptions provided during the meeting and will provide analysis and recommendations limited to the scope of engagement.  Client will also receive a recommended course of action for implementation of the plan. 

At the conclusion of the engagement, PSP will cease to perform financial planning for Client until and unless a new engagement is defined and entered into.

2.     Confidentiality

All information and advice furnished by either PSP or Client to the other, including respective agents and employees, shall be treated as confidential and shall not be disclosed to third parties except as required by law or by regulation, ruling or order issued pursuant to law.  PSP may share nonpublic personal information to service providers involved with the administration and servicing of the Client’s plan, which may include Client’s attorneys, accountants, auditors, and other professionals.

3.     Services Not Provided

Investment management is not provided through the Ask a CFP service. Investment advising is limited to the answers to specific questions during the meeting. Portfolio construction, analysis or recommendations or other advice related to a specific investment is beyond the scope of the Ask a CFP service. PSP likely will not have sufficient information about the clients financial status, goals, risk profile, and other key factors in order to render investment advice.

Client may receive recommendations related to legal or tax implications and education on legal risks or tax planning opportunities, but will not receive legal nor tax filing advice. PSP does not provide tax filing advice nor legal advice. We recommend you consult with your tax and/or legal advisor for such guidance.  PSP is not qualified to prepare accounting documents or legal documents for the implementation of Client’s financial plans which includes but is not limited to legal advice, opinions, determinations, documents, or tax returns and accounting documents.

 As part of this engagement, PSP will not provide ongoing financial planning services to Client. 

Past performance of investments should not be construed as an indication of future results. Your investments will go up or down, depending on market conditions. We make no promises, guarantees or warranties that any of our services will result in a profit to you.

4.     Fees and Termination of Services

The financial planning fee is charged at $350 for the one-hour meeting.  The fee is paid in advance when scheduling the meeting. A full refund is available if the client cancels the meeting with at least 24-hour notice.

Lower fees for comparable services may be available from other sources.

5.     Modifications & Assignment

This Agreement may be modified only by a written agreement signed by both parties. This Agreement shall be in force until Client or PSP cancels the engagement in the manner outlined in this Agreement or until the completion of the work agreed upon in this Agreement. This Agreement is not assignable by either party without the advance written consent of the other party.

6.     Outside Compensation & Conflicts of Interest

PSP does not accept outside compensation from any third parties related to the services provided to the Client. PSP shall not receive any commission, kick-back, referral fee, or other remuneration connected with any advice or analysis provided to the Client. All income earned related to Client advice is paid by the Client and work performed must place the interests of the Client above the interest of PSP or any other party.

PSP may receive income from sources unrelated to advice or analysis provided to the Client, including but not limited to book sales, seminar fees, and writing fees. Client advice is disconnected from these revenue sources to eliminate conflicts of interest. If a Client is advised to attend a seminar, purchase a book, or take some other action which could generate revenue for PSP, PSP will disclose the potential conflict of interest with the advice.

A conflict exists between the interests of the investment adviser and the interests of the Client. The Client is under no obligation to act upon the investment adviser's recommendation, and if the Client elects to act on any of the recommendations, the Client is under no obligation to effect the transaction through the investment adviser.

All material conflicts of interest will be disclosed prior to entering into or renewing an advisory Agreement. If a material conflict of interest arises during the course of a contract, which the firm is aware of, the Client shall be notified of the conflict of interest.

7.     Implementation & Custody of Assets

PSP shall not act as custodian for any Client assets. PSP does not possess nor exercise any discretion with respect to Client transactions. PSP is not obligated to negotiate on behalf of the Client with any third-party vendor. The Client understands that they are solely responsible for the implementation of the plan and may choose not to implement any or all of the plan. PSP may assist Clients with executing the plan but will not execute recommendations for the Client.  

Clients wishing to implement the advice are free to select any service provider they wish. Clients requesting recommendations will receive referrals to multiple providers based on their costs, skills, reputation, dependability and compatibility with the Client. Client is under no obligation to choose amongst the referrals and should conduct their own due diligence. NOTE: Clients may be able to obtain lower commissions and fees from other third-party providers. To avoid conflicts of interest, PSP does not receive any compensation from service providers for the referrals made.

8.     Arbitration

Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration, in accordance with the commercial arbitration rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

ARBITRATION OPT OUT:

You may opt out of arbitration by sending a letter, within 60 days of signing this contract, clearly stating your desire to opt out of binding arbitration and including your name, address, and phone number to:

Purposeful Strategic Partners

Arbitration Opt Out

5428 Vinmar Ave

Alta Loma, CA 91701

9.     Indemnification

Client agrees to full cooperation to supply PSP with complete, truthful and timely information relating to Client’s financial goals.  If in the event Client chooses not to follow the advice of PSP and implements a financial plan according to Client’s own discretion, Client agrees to indemnify and hold harmless PSP and its employees from any and all liability that may be incurred by PSP as a result of its providing advice or management services to Client pursuant to the terms of the Agreement and shall reimburse PSP for reasonable attorney’s fees or costs resulting from any claim or litigation.

10.  Governing Law

This Agreement shall be governed by the laws of California. This Agreement contains all the understanding of the parties as to this Agreement. The sole place of venue for any lawsuit arising from this Agreement shall be San Bernardino County, California.

11.   Miscellaneous

Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.

No change or modification of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the parties. Notwithstanding the preceding sentence, PSP may amend the Agreement to the extent permitted by the Agreement.

12.  Notices.

Any notice, request, instruction, or other document to be given hereunder shall be in writing and delivered personally or sent by first class mail, postage prepaid, addressed, if to PSP, to the following: 

Purposeful Strategic Partners

5428 Vinmar Ave

Alta Loma, CA, 91701

And, if to the Client, to the address disclosed in the meeting notes when scheduling the meeting.