Why did you become a financial planner?
I worked for over 20 years in large corporations as a Senior Compensation Specialist. During that time, I would meet successful, smart, and competent professional women who worked very hard to get promotions and pay increases, but felt overwhelmed and confused by their finances. Most of these women knew they should be more engaged in their finances, but didn’t know where to start. I could tell that the time and knowledge required to properly manage their personal finances made them feel frustrated and worried.
I would offer them general advice, I found that very rewarding. As a result I dreamed of becoming a certified financial planner to help others understand and manage their finances and achieve their vision of success.
My biggest hurdle though was sales. Most financial planners get paid commissions to sell certain financial products to their clients, but I am not a salesperson.
Then I learned about being a FEE-ONLY financial planner. Fee-only financial planners are fiduciaries who are paid based on their advice, like a CPA. With the fee-only business model the focus is on the client’s needs. I am free to recommend the best investments for my clients, not limited to investment vehicles only offered by a particular company. When I discovered the opportunity to be a fee-only financial planner, there was no turning back.
While working full-time in my corporate position on nights and weekends, I went to The College for Financial Planning, passed the Certified Financial Planner Board exam, and eventually started my practice.
What is fee-only
It means the only compensation Dorsey Wealth Management receives is from our clients. We do not sell products and do not accept commission or referral fees of any kind. Any fees we ultimately receive are paid just by you. No commission, no third-party payments, 100% independent. We think that puts us on the same side of the table as our clients.
What is a fiduciary?
As a fee-only financial planner, I am a fiduciary and take an oath each year to put my client’s needs above my own. Most people working in the financial industry are not fiduciaries. By definition, that means they are not required to do what’s in your best interest. Dorsey Wealth Management has chosen to operate as a true fiduciary, which means we are legally bound to make decisions in your best interest. Part of being a fiduciary means your investment accounts are held with an independent third-party custodian, TD Ameritrade.
Do you work with men too?
Of course! The men I work with also appreciate my approach of educating and guiding them so that they gain a better understanding of their finances and what they need to do to reach their financial goals.
How do I know my money is safe?
Dorsey Wealth Management will never take custody of your money. It will be invested with an independent third-party custodian, TD Ameritrade, who offers full security and FDIC protection.
If I don’t live near Torrance California, can I still work with you?
Yes. Our clients live in different parts of the country. We hold virtual meetings utilizing the latest technology and have regular communications on the phone and through email.
What type of person are your services NOT for?
My services are not for someone who is looking to time the market. My philosophy is to create a well-diversified portfolio of low cost mutual funds that fit the risk tolerance and goals of my clients. Investment returns are then competitive with the overall stock market.
What exactly are your services and what do they include?
Each client starts with the creation of a empowerment roadmap, which is a personalized financial plan based on their goals, values and financial resources. This financial plan helps them to figure out what their current financial situation is, where they want to go and what are the gaps to get them there. Then after the empowerment roadmap is presented, a client can then choose to take advantage of my ongoing service where I provide comprehensive financial planning and investment management services. Then I meet with the client throughout the year to make sure they stay on track.
Why is financial planning for women so important?
As women, we are so busy building our careers and businesses while taking care of our families that unfortunately one area that commonly gets neglected are our finances. Women especially have unique financial needs because we tend to live longer and take care of others we love first. Many women want to be more educated about their finances but feel overwhelmed and confused. When they do seek out financial planning assistance they don’t know who to trust or turn to who understands their unique needs.
Do I need a minimum to work with Dorsey Wealth Management?
We do not have any minimum investment requirements.
I am interested in working with Dorsey Wealth Management. Is there a fee for an initial meeting?
We offer a complimentary introductory meeting in which we get acquainted with you, learn about your goals and aspirations, and determine if Dorsey Wealth Management can help. The session also gives you a chance to decide if we are right for you.