FAQ

1. How long have Janet Barr and Collaborative Financial Solutions, LLC been in business?

Janet Barr has been serving as a financial advisor since 1994. Collaborative Financial Solutions(CFS), LLC was created by Janet Barr in August of 2007.

2. What types of investment strategies does Collaborative Financial Solutions utilize?

CFS uses a wide variety of strategies to fit each client’s needs. New strategies are constantly being implemented.

3. What fees does CFS charge for these investment strategies?

Generally, fees range from 75 basis points (0.75%) to 175 basis points (1.75%), based on the size of the portfolio per year. You can find out more when you schedule a meeting,  Or please click on fee structure.

4. How does CFS select mutual funds and portfolio managers?

CFS relies on numerous sources of information including LPL Financial (LPL)’s independent research department. To stress the independence of CFS, we remind customers that CFS gets no compensation for placing funds with any mutual fund or for using specific sources of information such as LPL.

5. Does CFS offer separate account managers?

CFS utilizes separate account managers for a select small percentage of assets managed.

6. How often are accounts traded?

Most mutual fund accounts managed at CFS are rebalanced about once per year. Other than that, we may change the portfolios due to market circumstances and conditions, the addition or subtraction of a mutual fund, and/or large monetary withdrawals or contributions. Occasionally, we may add a new fund to a portfolio if we believe it will benefit the client.

7. Who does LPL clear through?

LPL is the only major independent firm to become self-clearing. The LPL Financial Self-Clearing model eliminates the need for a third party vendor, which gives us  greater control over the products and services we provide you.

8. How often will CFS review a portfolio?

Generally, we review each portfolio on a continuing basis. Meaning we review your portfolio frequently and monitor any changes and constantly keep you updated. If circumstances warrant, such as market irregularities or a specific client need surfaces, we will review portfolios immediately.

9. What is Strategic Asset Management (SAM)?

The SAM program enables CFS to develop and manage client portfolios. SAM investors have access to more than 3,300 mutual funds, stocks, bonds and alternatives. Investors also have the ability to transfer in certain previously purchased investments into their SAM account.

10. How often will CFS meet with clients after initial decisions are implemented?

During the first year for an investment management client, we will probably want to meet with a new client three to four times at a minimum to explain and review their first performance reports. After that we will generally give each client the option to meet with us a minimum of every time that an investment management report is available to them. If a client is stressed for time, we can often schedule a phone conference call as an alternative to meeting.

11. How often does CFS update clients on their portfolios?

Each client receives monthly statements (if there has been activity) and quarterly from LPL Financial which lists their current holdings, their current value, transactions and performance. Also, as securities trades are executed, each client will receive a separate confirmation statement with full details of each buy or sell.

Clients may also view all of his/her accounts through LPL Financial secure website. This area can be accessed through the CFS website as well.

12. Does a client have to stay with CFS for any length of time?

While there is no obligation to stay with CFS forever (we do value long-term relationships), we would like every client to stay with our service for a minimum of one year. However, a client can terminate his/her contract at the end of any day (note: less than six months the client may forfeit certain fees paid in advance). Of course, we will require payment of any fees owed through the date of termination.

13. How does CFS charge for financial planning services?

We charge for financial planning under a combined fixed fee, which includes fees for investment management and Barr’s hourly rate. The fee will be fixed for a two-year period and will be billed annually, quarterly or monthly in arrears. for most clients the typical fee will range from $750 to $4,000.

14. What is Janet Barr’s financial planning process like?

The process for financial planning involves gathering extensive financial information. First, we request that a client complete one or more of our comprehensive data gathering questionnaires as well as provide us with all of their financial information. Our thorough process includes verifying information with the client’s insurance company and employer’s human resource personnel,  as well as their accountant/CPA, attorneys, insurance agents, bankers/trust officers, and stockbrokers, as necessary.

Once we have prepared reports, we meet again with the client to ensure the accuracy and pertinence of all information. Then we move on to goals such as education funding, estate death tax, retirement calculations, IRA distribution analysis, insurance reviews, and survivor analysis. When this is complete, we review with the client their overall financial situation as well as detail issues that need to be addressed. These areas may include basic finance issues such as refinancing mortgages or other debt, analyzing a client’s liquidity, and discussing any cash flow and/or savings issues that may arise.

In subsequent meetings we discuss how to reduce income taxes, efficiently fund children’s educations, and reduce income and gift taxes, as applicable. We also analyze exactly how much life insurance, if any, is needed and review all of the different insurance coverages in-depth. Importantly, we discuss the client’s overall investment strategy to increase the likelihood of meeting their goals. When a client is near or in retirement, we spend a great deal of time discussing issues such as distribution strategies from retirement plans. Finally, we review existing estate documents and suggest alternative estate-planning methods.

15. What makes CFS different from banks and other financial advisory firms?

CFS is different from other financial advisory and brokerage firms as well as banks in a number of ways. First, CFS provides advice on all aspects of our clients’ finances while at the same time, assisting them with the implementation of their recommendations. interaction with the client’s other advisors, such as , accountants, attorneys, bankers, insurance agents, and employee benefits specialists to ensure that everyone is working on behalf of the client is an everyday occurrence. Brokerage firms and banks do not supply this type of service while other financial advisory firms may only offer a few of these.

Banks and brokerage firms sometimes provide a few of the same investment offerings as CFS. However, the advisory fee charges are frequently at twice the cost.

The bottom line at CFS is that our team focuses on the client’s entire financial situation, assists clients in achieving their goals, attempts to provide unparalleled service, and does it without bias.