PFS FAQs
Browse through some of our most frequently asked questions about certified public accounting and wealth management services. Don't see a question that you have? Contact us today.
Why should I engage Grigg Wealth Management? What sets you apart from other Wealth Management Firms?
GWM improves your wealth and plans for your desired retirement. We have in-depth wealth accumulation experience.\
How does GWM reduce the hassle of wealth management?
- Removing the need to engage multiple advisors by being a one-stop-shop
- Engaging you via well-developed tax planning and financial planning programs.
What wealth management services do you offer?
We offer a full menu of comprehensive wealth management services. These services include:
- investment management
- retirement planning
- business planning
- legacy planning
- special situation planning
- cash flow and debt management
- education planning
- risk management
What are the programs you offer Intended to improve a client's wealth?
We use refined internally created tax and wealth "programs" to deliver consistent value. Our three main programs are:
- Tax Planning: primarily focused on tax strategizing techniques and gently discussing the 8 Wealth Management issues.
- Advanced Comprehensive Planning: all of the 8 Wealth Management Issues are discussed. After an initial assessment, two of the 8 Wealth Management Issues are discussed every 6 months.
- Premium Comprehensive Planning: in addition to what’s included in the Advanced Planning Program, clients will be allotted more time to conduct planning, have first priority over all other engagements.
- Ala carte planning: we have many topics in which we can consult you to include but not limited to stock options, rental ownership best practices, which employer retirement plan is the best for you to implement, business best practices, salary planning, etc.
How often will we meet?
That depends on how you engage Grigg Wealth Management.
If you engage us for investment management then we may meet quarterly, semi-annually, or annually depending on the magnitude of assets managed.
If you engage us for planning only, we will meet twice to four times a year depending on the planning program you choose.
What is covered during the planning meetings?
That will depend on the goals you want to accomplish and the program you choose.
Do you conduct planning meetings for businesses or only for individuals?
We conduct planning for both businesses and individuals. We meet with business owners routinely where we discuss their financial statements, payroll planning, conduct pension planning, etc.
What is the minimum amount you invest?
$5,000
What investment positions do you use?
We use stocks, bonds, ETFs, mutual funds, special Separately Managed Accounts (SMA), alternative investments (REITS, non-traded REITs, and non-traded private companies).
How do you invest client assets?
We invest based on the client’s goals and rebalance periodically. We plan for income, growth, and protection.
Are you fee only, fee-based, or commission only?
Grigg Wealth Management is primarily fee-based. Most of our compensation is by advisory fees so we succeed when you succeed. We may be paid a commission for annuities, life insurance, or alternative investments.
How do you Address the possible conflict of interest of being paid a commission for using products?
We educate you on the technique. You are free to use someone else to execute the technique. If we have earned your trust, and you use us to execute the technique, we may be paid a commission. Further, any and all applicable conflicts of interest will be disclosed as required in our industry.
What are your investment advisory fees?
1% up to the first $1mil of assets and then it decreases after $1mil.
If you engage us for planning, we may charge an additional .5% so your investment fees pay for the planning services instead of paying a separate fee.
Does your investment advisory fee include planning?
If the magnitude of assets managed is high enough, the asset management fee may include planning. We traditionally add .5% to the investment management fee for planning.
Will I have access to my investment portfolio?
Yes. You will be invited to your investment account via eMoney. This is a sophisticated software suite that is on the internet for you to access at any time.
Do you offer discounts if engaged for planning or for bundled services?
Yes. Depending on the extent of planning or other services engaged, we may offer discounts on additional services.
How do you engage your clients?
We are a paperless office and typically work remotely. We meet clients via video conferencing but we offer in-person meetings by appointment only. We ask clients to pay us quarterly as a retainer. Clients are provided a quote and the quote is stated as payable in quarterly installments.
We exchange documentation via either our tax portal or wealth management portal.
How do I know which wealth advisor is best for me?
Call and interview them. You should ask questions about experience and methods. The advisor you choose should have technical knowledge and treat you with respect. Does the advisor take time to listen to you or return your calls in a timely manner? Do you feel comfortable asking your advisor a question and do you feel comfortable working with them?
Do you have specialties?
Yes. Brian Grigg, CPA/PFS specializes in small business and high net worth individuals. Brian has the series 7 and 66 licenses (held with LPL Financial) and the PFS credential so he works with his clients to improve their wealths.
What is a PFS?
This is a Personal Financial Specialist as designated by the American Institute of CPAs. This is a special designation for those CPAs who meet certain qualifications and who help clients improve their wealth.
Should I consult a professional if I am starting a new business?
Yes. You should seek guidance specific to your situation before starting any business. It is easy to start a business on the wrong foot and incur thousands of unnecessary expenses and unwanted taxation. We are available to discuss business formation options, taxation of those options, and any impact they will have on the owners.
Do you offer virtual meetings in addition to in-person meetings?
Yes. We have clients around the world so we routinely conduct virtual meetings. Most clients prefer virtual meetings so we have decided to offer in-person office visits by appointment only.
How do we exchange documentation?
We offer a secure portal to exchange documents.
Are you paperless?
Yes. We are paperless and prefer all documents to be provided electronically in excel, word, or PDF. If you mail or drop-off paper documents, there is an administrative charge for document scanning. All documents received will be returned to you.
Our secure portal has an app in the Google and Apple store and that app has a scanning system that uses your phone’s camera. Upon taking a picture with the app open, it will upload directly to your account.
Will your information be kept confidential?
Yes. We maintain strict confidentiality in accordance with the rules and regulations of the IRS, AICPA, California Board of Accountancy, FINRA, and the SEC.
Do you provide a year-round service?
Yes. We are here all 12 months.
How many years of experience does the firm have?
The team has more than 14 years of professional experience.
What type of clients are you looking for?
We are looking for clients who want professional help improving their wealth by limiting taxes, increasing assets, planning for retirement, maintaining a comfortable life in retirement, and/or accomplishing other goals important to them.
Who will I work with at Grigg Wealth Management?
Most document gathering and delivery is conducted by staff. Consultations and decisions are made with Brian Grigg, CPA/PFS.
How long should I keep my financial records?
All records should be kept indefinitely. We recommend storing your documents in a safe online storage. We say indefinitely because auditors may ask you to substantiate tax carry-forward information started many years in the past.