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What type of clients do you work with?

We work with individuals and families of varying ages, backgrounds, and financial status.  Either retirees who are in retirement or young professionals and families who want to get a head start on planning for retirement.  We work with each person individually understand their needs and invest their portfolio accordingly. We make sure that it is a mutually beneficial relationship before moving forward.

Is there an account minimum?

We believe that everyone should have access to the financial markets and sound investment advice and therefore, we do not have any account minimums.  

Where will my money be held?

We do not have custody of any client funds.  We use an independent custodian, Scottrade, Inc., a FINRA registered broker-dealer.  The client always maintains asset control.  PJF places trades for clients under an Investment Advisor Account Access agreement.   

Will my account be monitored regularly?

Yes.  Your accounts will be continually monitored, analyzed, re-balanced, and traded as appropriate.

Phillip James Financial is a Fiduciary - What does that mean?

A fiduciary is legally and morally responsible for managing the assets of another person and has a duty of trust, confidence and responsibility to be acting in the clients' best interest.  By removing the inherent conflict of interest associated with commission based compensation we can act as a true fiduciary advisor.  Because of this we will never sell you an investment "Product".

Do you tell me about any trades that are placed?

No.  When we establish a relationship we agree to certain risk parameters, a portfolio allocation, and other trading guidelines.  This will guide our trading decisions and allow us to make timely changes to the portfolio if needed.  However, we will not make any dramatic changes to the portfolio that differ from our original agreement without discussing with you first.

Can I get online access to my accounts?

Yes.  With Scottrade you can sign up for direct access to your accounts.  In addition you can log-in through the Phillip James Financial website using the Login button on our home page.

What do you charge for your services?

We charge an annual fee based on the assets under management (AUM), billed quarterly.  Fees range from 1.5% down to 0.10%.

What is the advantage to using Phillip James offer versus investing on my own?

We provide expert asset allocation advice, disciplined re-balancing, time savings, consolidated account access and performance reporting, and professional oversight and advice.  We also provide tax planning and tax preparation at special client rates, saving you time and creating efficiency by having everything under one roof.

What is your investment Philosophy?

We take an academic approach to the markets by investing in a globally diversified portfolio based on historical research of assets classes and returns.  We believe that the markets are efficient and therefore long-term performance is driven investment in the markets rather than through individual stock selection. We take advantage of long-term trends that are presented through historical analysis. We invest efficiently using exchange traded funds with very low costs.  The role of Bonds in a portfolio is primarily a risk-reducer, and invest only in short-term bonds with a high credit quality.  We use this philosophy but know that each investor is different and tailor each individual's portfolio to their overall risk profile.

What is a Fee-Only Advisor?

Fee-Only financial planners are registered investment advisors (RIA) with a fiduciary responsibility to act in their clients’ best interest.  They never accept any commissions, sales incentives, bonuses or special perks paid by insurance companies or other financial service entities for selling their products.  This removes the conflicts of interest associated with the commission based brokers and agents whose fees may not be fully disclosed or apparent.  Consumers must also be careful for the new category of "fee-based" in which brokers charge a fee in addition to the commissions.

 With Phillip James Financial your fees are calculated solely on the assets that we manage, we do not collect any commission or sell you any products.  Our management fees are very transparent and straightforward so you will know exactly what you are paying.

How often do you meet with your clients?

Review meetings are based on the needs of the client but we ask that you meet with us at least once a year in order go over your portfolio as well as any changes in your life that may be affecting your investment strategy.

Who is Phillip James Consulting?

Phillip James Consulting is our affiliated Tax & Accounting company that provides tax planning and advice to our clients.  Having this relationship allows us to make our relationship more comprehensive.  We believe that having these two practices under one roof enables us to see a clients' full financial picture and  ultimately better serve the client. 

How do I get Started?

The first step is to meet or call a Phillip James Financial advisor.  The advisor will work with you to determine your needs and goals, assess your risk profile and create the optimal asset allocation strategy.  You can contact us here.

Do you only provide financial planning to clients in Minnesota?

Currently our only office is located in Plymouth Minnesota, we are able to work virtually using Skype or Google Hangouts.  We find this to be convenient for busy professionals who don't want to or don't have the time to meet in person every time.

 

Do you have more questions?  You can either contact us or schedule a meeting to have all of your financial questions answered by a professional.  We are here as a resource to you.