Frequently Asked Questions - Eliot•Rose Wealth Management

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1. Are you a fiduciary?

Yes! You always want this to be a one-word answer. The fiduciary standard is a legal obligation that requires us to put our client's interests first. 


2. What is a Certified Financial Planner™ (CFP®)?

The CFP designation is the highest credential in the financial planning industry. ​CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards. They understand all the complexities of the changing financial climate and will make recommendations in your best interest.


3. What is a Charted Financial Analyst (CFA)?

The Chartered Financial Analyst (CFA) Program is the highest credential in the investment management field. Similar to the CPA exam, CFA charter holders have to pass three exams (one per year). Only 9% of people have passed all three exams consecutively in the past decade. One of them works at Eliot Rose! 


4. Who do you use as your custodian?

A custodian is the organization or bank that houses your money and stock holdings. Charles Schwab Institutional Services is our custodian. Schwab is considered a leader in the field. Whoever you chose to work with, we recommend to always make sure your advisor is using a custodian – it is a sign of good corporate governance and safeguards your assets from firm malfeasance.


5. How are you compensated?

We have a fee-only business model. This means that we are only paid by our clients. We do not accept compensation or commission from other sources. This allows us to remain unbiased and provide advice and counsel in our clients' best interests. We are proud members of NAPFA. NAPFA is the leading association of fee-only advisors.