1. Are fee-only planning services tax deductible?
2. Does Mr. Keenan manage my investments for me?
3. Do you provide only full-blown financial plans?
4. How much will my financial plan cost?
5. I'm in charge of the retirement plans and employee benefits at my company and would like to get more employees to participate. How can Mr. Keenan help us?
6. If I hire the firm only for a financial plan or project, will our relationship terminate at the conclusion?
7. If Mr. Keenan recommends that I obtain a financial product, how will I go about doing that?
8. Is my financial information kept confidential?
9. Mr. Keenan is a lawyer as well as financial planner. When I hire him as my fee-only planner is he also my attorney?
10. My spouse is not interested in hiring a planner. What should I do?
11. What is Mr. Keenan's philosophy of investing?
12. What's so different about Mr. Keenan's advice?
13. Why is commission-based selling potentially problematic?

Yes. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A. It is subject to a 2% floor of the adjusted gross income on a personal tax return. (return to top)

Yes, Mr. Keenan can provide you with investment management services, although you should know that it may be cheaper for you to pay an hourly rate if your account is relatively small. (return to top)

No. Although a comprehensive financial plan provides the greatest benefit, Mr. Keenan is happy to provide only a subsection of a full plan, such as investment analysis or college education funding. (return to top)

The cost depends on the amount of time required to complete the project, of course.  Mr. Keenan's rate is $90.00 per hour. (return to top)

Employees generally respond to advice that they believe is independent of the plan vendor. Mr. Keenan can develop a seminar or presentation based on your company's plan. (return to top)

It will be your decision whether or not to contact the firm again. However, good fiscal health definitely requires periodic updates. Financial planning is a process, not an event. (return to top)

Mr. Keenan does not sell products, only time and expertise. He may offer specific recommendations and opinions on various products and services that may be appropriate for a client's situation and, in turn, can advise a client where to obtain those products or services. If appropriate and at the client's request, Mr. Keenan also can help with plan implementation. Of course, you can also use your current broker or agent. (return to top)

Yes, your information is kept in strictest confidence. Typically, your permission is required before Mr. Keenan can release any non-public information. The typical exception is release of the information pursuant to litigation discovery mechanisms. (return to top)

No. Mr. Keenan's legal practice is strictly separate from his financial planning firm. There is no lawyer-client relationship if you retain him as your planner. You should not expect the Virginia Rules of Professional Responsibility for Lawyers to apply. If you need a lawyer, you should make that clear to Mr. Keenan, so he can take the necessary steps to make sure that you are guided in the right direction.  (return to top)

There is no easy answer to that dilemma, but it is worth giving Mr. Keenan a call to discuss the situation. (return to top)

An appropriate strategy consistent with the investor's needs requires patience. Long-term goals require long-term processes to play out. (return to top)

Mr. Keenan is compensated on a fee-only basis. You, the client, are his exclusive concern.  He has no arrangements with third-parties that require the sale of certain products or the meeting of quotas.  He does not accept sales commissions or 12b-1 fees. (return to top)

Expensive financial products typically pay higher commissions, and sales agents make more money by selling these expensive products.  However, one cannot say that commission-based products are per se bad.  In some instances, you are better off paying the higher commission to your agent or broker, if the higher commission is attached to a superior product.  And sometimes commission-free alternatives do not exist. However, commissions always raise the possibility of a conflict of interest, and a fee-only, independent financial planner is the appropriate professional to steer you in the best direction. (return to top)