Financial Planning Frequently Asked Questions

You Asked, We Answered!
At Olympic Wealth Management, we aim to provide you with all the necessary tools and information to help you make the most of your financial planning journey with us. Here’s a brief overview of some of our most frequently asked questions.

Questions About Olympic Wealth Management

Olympic’s Advisory Fee schedule is contained in the firm’s Form ADV2 (Firm Brochure), which can be found by clicking the Disclosures link at the bottom of this page. A client’s Total Annual Fee is the combination of Olympic’s Advisor Fee, Envestnet’s Sponsor Fee, as well as any transaction fees which might be assessed by Charles Schwab on the purchase or sale of securities in your account(s.) Your Total Annual Fee will depend primarily on the dollar value of your portfolio; generally, as the portfolio value increases, fees are expressed as a percentage decrease. Fees are also disclosed in detail and included in writing as part of all Olympic investment plan proposals.

No, we are a fee-only investment advisor and do not receive any commission as a form of compensation. Our fees for retirement income planning are simply ‘bundled’ into the Olympic Advisor Fee referenced above.

Years ago, the decision was made that Olympic would outsource portfolio management to reputable, independent third-party specialists. This method has proven to be effective in that Olympic is able to engage a broad range of credentialed research analysts and professional management teams to diversify and monitor portfolios for our clients. This is a sharp contrast from the ‘advisor as portfolio manager (APM)’ approach, which, in our view, delivers much less value and a decidedly narrower range of opportunities to investors.

We are committed to maintaining a consistent and proactive level of communication with our clients. Besides monthly newsletters and regular email communication, twice per year, Olympic clients receive an electronic questionnaire which, among other things, offers them the opportunity to schedule either telephone or in-person plan reviews. A common complaint among investors is that they rarely (if ever) hear from their advisors. At Olympic, we deliver a much better experience. It’s something you deserve and should expect. Another complaint is advisors regularly trying to ‘sell’ products or services. Since Olympic is not compensated on a commission basis, clients are never subjected to sales pressure.

Once you become a client of Olympic, you will work directly with Eric. He will personally advise you on your investment and retirement planning, as well as direct you to other financial resources you may need, like tax preparation, estate planning, insurance, mortgage financing, and more.

Because of our institutional approach to investment and retirement planning, we require that investors have $1 million or more of savings and investments in order to work with our firm.

If you are interested in working with us, we encourage you to fill out our online contact form. Once the form is submitted, our office will reach out to schedule your free phone consultation at no cost, nor any obligation.

Questions About Working With a Fiduciary

Simply put, a fiduciary has a legal responsibility to look after and protect the financial best interests of others.

A fiduciary financial advisor is a type of financial advisor working for a fiduciary firm. They are legally obligated to act in the best interests of their clients. This means providing transparent and unbiased advice, offering ample information for sound financial decision-making, and ensuring all fees are disclosed.

A fiduciary relationship refers to a legal and morally binding relationship in which one person is entrusted with the responsibility of acting in the best interest of another person. The person holding the responsibility is the fiduciary, while the person relying on the fiduciaries is the beneficiary. Fiduciary relationships exist in a variety of different circumstances, including business, finance, and legal. Here at Olympic Wealth Management, we are the fiduciary, and our clients are the beneficiaries, as they are entrusting us with their wealth.

Fiduciary and financial advisors both provide advice about investments, retirement, taxes, and finances. Their primary goal is to help clients grow and manage their wealth. While they both offer expert guidance and advice in regard to financial decisions, only the fiduciary has a legal duty to act in the best interests of their clients. A fiduciary advisor is legally obligated to prioritize their client’s financial well-being over their own interests, whereas a regular financial advisor is not.

Questions About Investment Planning

Investment planning is the act of allocating money into different investment vehicles based on a strategic investment plan. This strategic investment plan is developed and then implemented based upon an investor’s personal financial goals and objectives.
Investment management is the ongoing process of monitoring your investment portfolio and adjusting your investment strategy accordingly. This involves assessing ongoing risk, monitoring investment progress, researching new investments, and establishing new financial goals as circumstances may warrant.
If you are interested in investment planning, we encourage you to fill out our online contact form. Once the form is submitted, our office will reach out to schedule your free phone consultation.

Questions About Retirement Planning

Retirement planning is the process of preparing yourself financially for retirement. This includes structuring your accumulated wealth in order to have a steady income once you’re no longer earning a paycheck. With a solid retirement plan and stable monthly income, you’ll be able to cover your expenses and live your desired lifestyle, all while enjoying the financial freedom and peace of mind you’ve dreamed of.

Retirement planning is essential because it allows you to have a regular income stream to cover your expenses and support yourself once you are no longer in the workforce. A solid retirement plan is key to achieving financial freedom and stability in your ‘golden years.’

If you are interested in retirement planning, we encourage you to fill out our online contact form. Once the form is submitted, our office will reach out to schedule your free phone consultation. However, please be aware you’ll first have to implement an investment plan of $1 million or more before we can begin building out your retirement plan.

Questions About Retirement Planning for Boeing Employees

At Olympic Wealth Management, we specialize in investment and retirement planning for Boeing employees. Our extensive knowledge of Boeing retirement benefits makes us your top choice for a retirement advisor in the Seattle area.

Our CFP®, Eric Cumley, has two decades of experience forming investment and retirement plans for Boeing employees. You can rely on him for assistance with your pension plans, 401K investing, executive benefits, stock options, Roth IRAs, and more.

Seattle financial planner Eric Cumley is an independent expert on Boeing’s retirement benefits, including but not limited to:

  • Boeing 401(k) investment planning
  • Determining 401(k) pre-tax vs. Roth contribution rates along with catch-up contributions and in-plan Roth conversions
  • Pension claiming options for the PVP and the BCERP, as well as how to choose between the monthly annuity vs. lump sum forms of payment.
  • Determining suitability for and enrolling in the Supplemental Savings Plan (SSP)
  • Strategies for reducing exposure to Boeing stock and exercising options
  • Age 59.5 in-service 401(k) distributions
  • Layoff severance benefits
  • Interfacing with Worklife and NetBenefits
  • Executive benefits, including Deferred Compensation, SSP+, DC SERP, and more

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