Frequently Asked Questions

Your financial goals are within your reach. We’ll achieve them together.

Prosperity Financial Group FAQs

Does switching from my current financial advisor or investment institution cost me money?

There shouldn’t be any fees, costs, or penalties associated with switching financial advisors. If you have after-tax investment accounts, there may be capital gains taxes associated with selling investments that have grown in value since you purchased them. But that tax will need to be paid eventually, so it’s merely a matter of paying it now versus paying it later, and the benefits of getting into the right portfolio of investments far outweigh costs like these.

We’ll make sure you’re fully informed before any costs are incurred.

Is there a fee for an initial meeting?

No, we offer complimentary Portfolio Reviews and complimentary Financial Planning Consultations.

Does Prosperity have an investment committee?

Yes. Our investment committee meets to review the current investment environment and determine if any changes need to be made to our strategies.

What is a registered investment advisor (RIA)?

A Registered Investment Advisor (RIA) is a fiduciary who has a duty of undivided loyalty to his or her investment advisory clients and must deal fairly and honestly with them.

Who has custody of my money when I hire you to manage it?

Prosperity Financial Group does not take custody or possession of your savings. Client assets are held at TD Ameritrade in an account registered to you.

Why should I hire a financial advisor?

Working with a Financial Advisor empowers you to objectively and logically plan for your financial future, manage risks, and answer any (and every) question along the way. 

Are your fees tax-deductible?

Yes, all fees paid from retirement accounts are pre-tax. Also, Section 212 of the IRS Code permits a deduction for tax and investment advice in excess of 2% of your Adjusted Gross Income.

What if I don’t live in the San Francisco Bay Area?

No problem. We have long-standing client relationships with investors in every US time zone. We meet regularly with our clients and are available to meet in person and remotely via Zoom, telephone, email, text, and more. As long as you live in the US, you’ll be well taken care of.

Who is a typical client for Prosperity Financial Group? Do you only work with pre-retirees and retirees?

We manage finances for over 100 clients. Those clients include women, men, divorcées, singles, married couples, and the owners of businesses for whom we manage company 401(k) and profit sharing plans.

Investment Advisory Questions

What documents do I need to prepare before our first meeting?

Here is the list of documents we recommend you gather:

  1. Most current investment statements (most important)

  2. Copy of two years of tax returns (also important)

  3. Loan and mortgage information (if applicable)

  4. Employee benefits statements

  5. All insurance policies (life, disability, medical, auto)

  6. Income estimates for current year (offer letter or last year’s final pay stub usually suffices)

  7. Any budgets you have previously created or documentation of spending and/or saving

We’ll send you a secure link where you can upload documents for our review.

Why don’t you have any success stories on your website?

Our highly regulated industry does not allow us to share past client success stories—under the premise that they may inordinately promise that we can create the exact same result for you.

Rest assured though that our clients consistently tell us that we make them feel safe and taken care of—and we are extremely proud of the work that we have done.


Socially Responsible Investing is important to me. Is that something you offer?

We do include a family of SRI funds in our investment options. These funds seek to navigate the tensions that may arise between personal financial goals and the broader considerations of sustainability and social responsibility.

Keep in mind that every broad-based fund, no matter how socially conscious, may run the risk of owning companies that conflict with individual values.

Why should I hire a Financial Advisor to manage my money?

A Financial Advisor will be able to connect all of the financial dots in order to provide you with an overall plan to meet your financial goals. They should have training and experience in all kinds of financial products and financial aspects of your life – equities, bonds, insurance, taxes, and estate planning – in order to make the right recommendations for your personal situation. A Financial Advisor can also save you thousands of dollars in tax deductions and find higher-yielding investment products at little or no extra risk.

How much does a Financial Advisor cost?

The fees will vary depending on the education and experience level of your Financial Advisor, and how the fees are assessed. The amount will usually be a percentage of assets under management.

How can I pick a good Financial Advisor?

Choose a Financial Advisor who has experience dealing with clients in similar circumstances to yours. You'll also want to make sure that the financial planner has your best interests in mind, and that he or she isn't selling you products that are not suited to your needs. Interview prospective financial planners and ask them about credentials, management strategies, and history of performance. Call up past clients as references.

How are you paid?

We are paid on a fee basis. Fees are based on the percentage of assets under management.

Where can I find a Financial Advisor who has no ties to any companies who push for selling products?

We have a fiduciary responsibility to put your needs and interests above our own. While we may take a commission from a product that is recommended to you, it is unethical for us to recommend a product that is not in your best interest.

What is fiduciary responsibility and why is it important?

Fiduciary means to hold a confidence or trust. A professional who has a fiduciary responsibility to his or her clients must put a client's needs and interests ahead of his or her own.

While stockbrokers and insurance agents are regulated and licensed, they do not have a fiduciary responsibility to their clients. The recommendations they make must only meet the "suitability standard." In other words, the risk level of the product must be suitable for the client based on income, assets, risk tolerance or another standard that is specified in the prospectus.

Advisors with a fiduciary responsibility are less likely to push products that earn them a quick buck.


How often will we meet?

We will review your portfolio at least once a quarter, usually upon generation of our quarterly reports. More frequent or interim reviews can be requested by you at any time. You should also consider making an appointment in anticipation of life-changing events such as marriage, the birth of a child, divorce, or after inheriting a large amount of money.

Tax Planning Questions

Does Prosperity Financial Group offer tax preparation?

Although Prosperity Financial Group is not a CPA firm, we can provide personal income tax planning services and federal, state, and local income tax return preparation through our relationships with partner Certified Public Accountants® and other tax professionals. Learn more about our tax planning services.

What are the tax consequences of withdrawing money early from my retirement account?

There are two primary retirement savings vehicles investors typically use: an Individual Retirement Account (IRA) and your employer’s Defined Contribution Account, which is often referred to as a 401(k) plan, TSP, or 403(b) plan.

Who can I claim as a dependent?

A dependent is someone whom a taxpayer can claim on their income tax return. Typically, you may claim yourself unless you are the dependent of another taxpayer, your spouse (unless he or she files separately), and your children. 

What is the annual gift exclusion?

In an effort to prohibit individuals from rapidly depleting their estate in order to avoid estate taxes as death becomes more evident, the government established the annual gift exclusion. This exclusion limits the amount of money that may be transferred to another person each year. 

How do I value non-cash charitable contributions?

Charities welcome gifts of not only cash, but also property. These non-cash gifts can be used by the charity itself, given to the beneficiaries of the charity, or converted by the charity into cash. Learn more about non-cash charitable contributions.

Retirement Planning Questions

What do I do with old 401(k)s that I have from a former employer?

It is likely that over the course of your career, you will contribute to multiple retirement plans. However, having multiple retirement accounts across former employers can be confusing and hard to monitor. Learn how to rollover 401(k)s from former employers.

Can my spouse contribute to a retirement account if he or she doesn’t work?

We recommend that all married individuals with qualified income contribute to an IRA. You and your spouse may both be able to contribute to either a Roth IRA or a Traditional IRA. Learn more about having your spouse contribute to a retirement account.

Which investment choices on my 401(k) platform should I invest in?

The first step in choosing investments for your 401(k) is determining when you can realistically retire. Your investment time horizon impacts how aggressively you can invest. Book a free consultation to learn more about the different investment choices on your 401(k).

How much should I contribute to my 401(k)?

If you are not offered a pension plan, you should contribute as much as possible to your 401(k) plan (so that you will still be able to meet all of your financial needs). We believe that contributing at least 10-15% of your gross salary should be the minimum at which you should save. Book a free consultation to learn more about how much to contribute to your 401(k).

When can I afford to retire?

The first step in determining this is to determine how much money you’ll need on an inflation-adjusted basis to survive each year. Book a free consultation to review when you can afford to retire.

Speak with a Fiduciary Advisor

As an Independent Registered Investment Advisor, we have a fiduciary obligation to legally and ethically act in your best interest at all times, in all areas of your finances. 

Fill out the form to find out how we can help you today!