Why work with a Financial Advisor? Aren’t they just for rich people?

Financial advisors aren't just for the wealthy—they're for anyone who wants to make the most of their money, no matter where they're starting from. Our job is to help you navigate the complexities of financial planning, investing, and managing your money with confidence. We offer personalized advice tailored to your unique situation, goals, and values, whether you're saving for retirement, planning for your child's education, or simply trying to build a secure financial future. We work alongside you, guiding your decisions to align with your life’s goals—not just managing investments but helping you make informed choices every step of the way.

Shouldn’t I just buy passive index funds to keep my costs low?

Passive index funds can be a great tool for keeping costs down, but they’re not a one-size-fits-all solution. At Propel Financial Advisors, we believe in a balanced approach that aligns your investments with your specific goals, risk tolerance, and time horizon. While index funds have their place, they may not provide the diversification or strategic adjustments needed in a dynamic market. Our job is to actively manage your portfolio, considering factors like market conditions, economic trends, and your changing financial needs. We focus on building a well-rounded strategy that goes beyond simply buying and holding, helping you stay on track to meet your financial goals while managing risk effectively.

How do I have access to my money?

Your money is always accessible to you, and it’s held securely with a trusted custodian—think of them as the safekeepers of your investments. As your financial advisors, we provide guidance and manage your accounts, but we never hold your money directly. You can access your funds at any time through the custodian’s platform, whether you need to make a withdrawal, transfer funds, or simply review your account. We’re here to help you understand how to access your money and ensure everything is handled smoothly and securely.

What makes us different?

At Propel Financial Advisors, we’re more than just investment managers—we’re your partners in financial success. What sets us apart is our commitment to a personalized, holistic approach to your finances. We take the time to understand your full financial picture, from investments to tax planning and everything in between. Our team isn’t tied to selling specific products; instead, we offer unbiased, fiduciary advice that always puts your best interests first. We focus on transparency, communication, and building long-term relationships with our clients, guiding you through every financial decision with care and expertise. Simply put, we’re here to help you achieve your goals, not just manage your money.

How do we decide what we buy? Our investment process.

At Propel Financial Advisors, our investment process is grounded in research, strategy, and a commitment to aligning your portfolio with your unique goals. We start by getting to know you—understanding your financial situation, risk tolerance, and long-term objectives. From there, we develop a diversified investment strategy tailored to you. We analyze economic trends, market conditions, and individual asset performance, constantly adapting to new information. Our approach combines a mix of active management and disciplined long-term planning to help mitigate risk and capitalize on opportunities. Every decision is made with your best interests in mind, keeping your financial journey on track.

Brokers vs. Investment Advisors—what’s the difference?

The key difference between brokers and investment advisors is in how they operate and who they serve. Brokers are typically transaction-based, meaning they earn commissions when they buy or sell investments for you. Their primary duty is to the firms they work for, not necessarily to you. On the other hand, as investment advisors, we operate as fiduciaries—meaning we are legally obligated to put your best interests first at all times. Our advice is fee-based, transparent, and focused on your long-term financial success, rather than just executing trades. We prioritize your needs, offering personalized guidance that goes beyond just buying and selling.

Can I lose money?

Yes, investing always carries some level of risk, and it's possible to lose money, especially in the short term. However, our goal at Propel Financial Advisors is to manage that risk and help protect your wealth through careful planning and diversification. We take a long-term approach, focusing on creating a well-balanced portfolio that aligns with your risk tolerance and financial goals. While we can’t eliminate all risks, we work hard to mitigate them by making informed, strategic decisions. We believe that through education, thoughtful investing, and ongoing communication, we can help you navigate market ups and downs with confidence. Find a newsletter article on Mutual Fund vs IRA

Why should I have multiple types of accounts?

Having multiple types of accounts allows you to maximize the benefits of different tax treatments, investment options, and financial planning strategies. For example, retirement accounts like IRAs or 401(k)s offer tax advantages that can help grow your wealth over time, while taxable accounts provide flexibility for immediate needs or opportunities. By diversifying your account types, you can strategically plan for different stages of your financial life—saving on taxes, managing cash flow, and ensuring that you’re well-prepared for both short-term goals and long-term security. At Propel Financial Advisors, we help you determine the right mix of accounts to optimize your financial plan.

Should my accounts be in different places?

Keeping your accounts in different places can lead to fragmented financial management, making it harder to see the big picture. At Propel Financial Advisors, we recommend consolidating your accounts where it makes sense, allowing for streamlined management, better oversight, and more cohesive investment strategies. When your accounts are under one umbrella, we can provide comprehensive advice that considers all your assets, ensuring your financial plan is aligned and optimized. Plus, it simplifies your life—fewer logins, statements, and headaches. However, we always evaluate the best approach for your unique situation to ensure you have the right balance of accessibility and strategic benefit.

We’re not just day traders—we take a whole portfolio approach.

At Propel Financial Advisors, we believe in a comprehensive, long-term approach to managing your wealth. Unlike day traders who focus on short-term gains and frequent trades, we look at the bigger picture. Our whole portfolio approach means we carefully consider how each investment fits into your overall financial strategy, aligning with your goals, risk tolerance, and time horizon. We aim to build a diversified portfolio that balances growth with stability, ensuring that your financial plan is robust and resilient in the face of market fluctuations. Our focus is on helping you achieve sustained financial success, not just quick wins.

Shouldn’t I just buy an annuity?

When considering whether to buy an annuity, it's important to understand some key drawbacks that often get overlooked. Annuities can be complicated and inflexible financial products, making it challenging to understand exactly what you’re buying. They often come with high fees and can be quite expensive tax-wise, which eats into your returns more than other investment options.

One major concern is the sales pitch. Annuities are frequently sold by insurance salespeople who are not regulated like financial advisors, so their recommendations may not always be in your best interest. There's also a significant lack of transparency—these products can be changed or adjusted without clear communication to you, and the financial health of the company backing your annuity can shift unexpectedly, leaving you vulnerable.

It's also crucial to question the safety of the guarantees offered by annuities. While they may sound secure, the actual safety of your investment depends heavily on the insurance company’s financial stability, which can change over time. Before committing to an annuity, it’s wise to explore all your options, especially those that provide more transparency, flexibility, and cost-effectiveness.

Are you registered with the SEC?

Yes, Propel Financial Advisors is a registered investment advisor (RIA) with the SEC, which means we are legally required to act in your best interests. This fiduciary duty sets us apart from other financial professionals who may not be held to the same standard.

Is there anything on your record I should know about?

We encourage transparency and honesty in all our dealings. Propel Financial Advisors has a clean compliance record, and we invite you to review our registration and history through the SEC’s Investment Adviser Public Disclosure (IAPD) website for complete peace of mind.

What fees will I be charged?

Our fees are straightforward and fully disclosed upfront. We typically charge a percentage of the assets we manage for you, and there are no hidden charges or commissions. Unlike some other financial products, such as annuities, our fee structure is designed to align our success with yours, ensuring you receive unbiased, objective advice. Before we begin any work together, we'll provide a clear breakdown of all costs involved so there are no surprises.

Transparency and your best interests are at the core of how we operate.

If you have any more questions, feel free to ask!