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Microsoft Word - gpn questionnaire reponse12005bdoc

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Microsoft Word - gpn questionnaire reponse12005bdoc

    Jim Ludwick’s Garrett Planning Network Financial Advisor Interview

    Questionnaire

    1. Why did you become a financial planner? Jim Ludwick wanted to help others

    avoid some of the financial mistakes his family had experienced plus those he had seen during his years in the real estate, life insurance, mutual fund investment, two bank trust departments, and as a money manager representative. Jim was privy to how people made or lost their money and gained or lost value in other investments.

    2. What is your education and experiential background as it relates to personal financial planning?

    Jim Ludwick holds master’s degrees in Healthcare Administration from the University of Minnesota and Management from Troy State University. He has a bachelor’s degree in public administration from the University of Arizona. In addition, he completed the College for Financial Planning’s six course program that qualified me to take and pass the two-day comprehensive exam for certification as a CERTIFIED FINANCIAL PLANNER? practitioner. Also, Jim was

    a commercial real estate broker who was awarded the Certified Commercial Investment Member (CCIM) designation by the National Association of Realtors as evidence of his knowledge and experience in commercial and investment real estate. In addition to hospital administration positions both in the Air Force and in Santa Barbara, CA, and commercial real estate in So. California, Jim has worked for two bank trust departments as an advisor and investment counselor, and as a Mid-Atlantic regional vice president for an international money manger based in San Francisco, CA, before opening his own financial advisory firm.

3. What are your financial planning credentials/designations and affiliations?

    A. CERTIFIED FINANCIAL PLANNER? Practioner

    B. NAPFA-Registered Financial Adviser

    (National Association of Personal Financial Advisors)

    C. CCIM (non practicing because of potential conflicts of interest)

    (Certified Commercial Investment Member National Association of Realtors?)

4. What are your areas of speciality?

    ; Middle Income Clients

    ; Retirement, Education, Investment Advice

    ; Government Employees/Retirees

    ; Real Estate Investors

    ; Couples/Individuals need budgeting/debt reduction help

    ; Military

    ; Second Opinions on Investments

    ; Employee Financial Education and Counseling

    5. Please describe your most common engagement / service provided and the type of client or client situation that you target.

    Young married couples seeking budgeting, debt management, education and long range retirement planning; Pre-retirees needing to determine short term retirement and investment goals and planning; Unmarried, divorced and widowed women seeking second opinions on their immediate and long range plan and goals. These three areas comprise the majority of our clients.

6. Are you a registered representative of any broker/dealer?

No, because we do not sell any financial products.

    7. Are you a licensed insurance agent with any company or agency?

No, we are not a licensed “producer” because we do not sell any financial

    products. We are a Licensed Insurance Advisor in the state of Maryland so that we may legally provide insurance advice.

8. Are you a Registered Investment Adviser (RIA)?

    Our firm is a Registered Investment Adviser in Maryland, the District of Columbia, Virginia and California. Jim Ludwick is a registered Investment Adviser Representative.

9. Are you a Fiduciary?

    Yes, We have taken an oath to act in good faith and in our client’s best interests at all times, provide written disclosures of any potential or real conflicts of interest that would render us not impartial or not independent, and we have agreed not to accept any referral fees or other compensation for the sale of a commissioned product or investment management service.

10. How are you compensated?

Fee Only: Project or hourly YES

    Fee Based: No, because I do not accept any compensation from other than the client. NO

Fee and Commissions: NO

Other: NO

    11. Do you have minimums for assets, account size, annual fees paid, etc? What is your typical fee?

    Two hours is the minimum time to spend with an initial client. There are no minimum net worth, investment size, fee or other limiting criteria.

    12. Do you provide a written agreement detailing the total amount of compensation and services that will be provided in advance of an engagement?

Yes, and our agreement is posted under “Details” on our website.

    13. Do you provide a thorough written analysis of one’s financial situation and specific recommendations?

    Yes, and these are in an executive summary format for easy reading and understanding.

    14. Do you offer assistance with the implementation with the plan?

    We provide form completion services and telephone coordination assistance with mutual fund companies and other custodians for an additional small fee.

15. Will you provide a second opinion or a one time review?

    Yes, we provide a two-hour consultation that does not include a formal written report and is essentially “planning on the fly”. This consultation cannot possibly

    cover all important aspects of a multi-facetted financial plan, but can meet some urgent client needs.

Signature of Planner: James F. Ludwick

    Date: December 21, 2007

Firm: MainStreet Financial Planning, Inc.

    2327 Sandy Walk Way, Odenton, MD 21113

Ph. 410-695-1556 Fax: 805-267-3001

jim@adviceonly.net

www.adviceonly.net

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