1. Why did you become a financial planner?
Patty Priddy, CFP, CRPC
My husband and I have always been savers, but in the early years we didn’t worry too much about retirement. We had very limited knowledge about investing and financial planning. It was something that wasn’t taught in school, and our parents didn’t have the experience to provide much guidance. And the future was too far away to be of much concern.
As we started our family, we began getting more serious. Neither of us had pensions, we wanted to send our children to college, and realized that we needed to have more structure to our savings plan. We initially started investing on our own and made some mistakes along the way. As our savings grew, we sought the help of financial professionals, who helped to educate us.
During this time, as my interest grew in financial planning, I realized that many people didn’t have a plan for retirement. After my children were grown, I decided to shift my accounting and finance skills from corporate to personal financial planning. It has been the best career decision of my life. It gives me the opportunity to help people see their future, educate them on financial planning, and track their progress. I also have the added benefit of a very satisfying career. As a fiduciary, I love that it is very clear that I am acting in the best interest of the client.
2. What did you do before you were a financial planner?
After receiving my MBA from Texas Tech, I was a business consultant with Arthur Andersen, helping businesses improve their bottom line. After having children, I worked part time in corporate finance until I started the process of becoming a financial planner. Now I get to help people improve their bottom line!
3. What are your financial planning credentials/designations and affiliations?
I am a Certified Financial Planner ™ professional and hold the Chartered Retirement Planning Counselor (CRPC®) designation. I am a member of the Garrett Planning Network, the National Association of Personal Financial Advisors, and the Financial Planning Association.
4. What are your areas of specialty?
We provide comprehensive financial planning services. Our most common engagements focus on retirement planning including accumulating retirement assets tax-efficiently, managing investment allocations, optimizing social security and planning for retirement income and distributions.
5. Please describe your most common engagement / service provided? And the type of client or client situation you target?
We welcome working with clients from all walks of life, regardless of asset size, net worth or income. Comprehensive, long-term client relationships are our favorite because it provides you with the most in-depth support and analysis to achieve your goals and gives us the best chance to get to know you, your values, and dreams. We also recognize that based on your preferences or situation, a one-time engagement, quick check-up, or just getting a couple questions answered may work better for you. We’re fine with both of these approaches and are happy to work with you in whatever way suits your needs.
6. Are you or any of the firm’s employees a registered representative of any broker/dealer?
NO
7. Are you or any of the firm’s employees a licensed insurance agent with any company or agency?
NO
8. Are you a registered investment advisor?
YES, Keener Financial Planning, LLC, is an SEC-registered investment advisor.
9. Are you a fiduciary?
YES, we are fiduciaries. In addition, as a NAPFA Registered Financial Advisor, I have taken The National Association of Personal Financial Advisor’s (NAPFA) fiduciary oath, whereby I will act in good faith and in my client’s best interests at all times, provide written disclosures of any conflicts that would render me not impartial or not independent, and have agreed to accept no referral fees or other compensation for the sale of a commissioned financial product.
10. How are you compensated?
A. Fee-Only, please define method of determining fees:
YES, fees for the initial financial planning engagement are based on our estimate of the actual time to be spent meeting with you, researching and analyzing your current situation, and making specific recommendations. After the initial engagement, you can continue on an as-needed basis or select an annual retainer for ongoing planning and investment management. Annual retainers are a flat annual fee quoted based on each client’s situation and the services to be provided.
B. Commissions only:
NONE
C. Fee and Commissions (fee-based), provide typical breakdown:
NONE
D. Other:
NONE
11. Do you have minimums for assets, account size, annual fees paid, etc? And what is your typical fee or charge for an initial engagement?
We have no minimums as far as assets, account size, net worth, or income for financial planning services. A schedule of services is posted on the website to give you an idea of typical price ranges before you meet with me.
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, our standard client agreement will detail the scope of the project including the type of planning services to be provided and the project fee. Once we have the initial consultation, We’ll provide the fee quote, show you how we came up with the amount, and work with you if we need to tweak the project based on your budget. Our goal is to keep your overall investing costs as low as possible while enabling you to make smarter financial decisions, sleep well at night, avoid pitfalls, and achieve your goals.
13. Do you provide a thorough written analysis of one’s financial situation and recommendations?
YES, we provide a written analysis and recommendations for your specific situation. All of our engagements include at a minimum a written situation summary and action list. For the full financial plan or investment analysis, you receive in addition a written detailed analysis including charts, projections, and portfolio reports.
14. Do you offer assistance with implementation with the plan? Please elaborate.
Client’s needs and preferences on this issue vary widely. So we price this component separately so you’re not paying for it if you don’t plan to use it. That said, all of our engagements include an action list for implementation, options for how to accomplish the action items, and the ability to call and ask questions on the recommendations for up to a year at no additional charge. For those that desire full-service implementation, we offer ongoing investment management.
15. Will you provide a second opinion or one-time review?
YES, we are happy to provide a second opinion or a one-time review.