Frequently Asked Questions

Click on the question below to link to the answer.

General Questions

Q. Do I need a financial planner?
Q. Why should I choose a fee-only advisor?
Q. What is the difference between a Registered Investment Advisor and a Stock Broker?
Q. How do I know how much I should be putting away for my retirement?
Q. How do I know how much I need to put away for my children or grandchilds college education?

The Firm—Questions

Q. How much time should I allow for my first meeting?
Q. What is Clark Financial Advisors relationship with Fidelity?
Q. What are Clark Financial Advisors fees?
Q. Who makes the investment decisions regarding my portfolio?

My Accounts—Questions

Q. I have a new address. How can I change my address for my accounts?
Q. How do I add more money into my account at Fidelity?
Q. Can I view my accounts online and if so how do I sign up for online access?
Q. How often will I receive statements?
Q. Can I receive one consolidated statement from Fidelity each month instead of individual mailings per account?
Q. Can I stop the confirmations that come in the mail every time a trade in placed in one of my accounts?
Q. Can I make automatic monthly contributions or receive withdrawals to/from my Fidelity account?
Q. How can I request money from one of my account?
Q. Can I have check writing privileges on my brokerage account?

General Answers

Q. Do I need a financial planner?

A. A financial advisor can offer a wealth of experience, knowledge and service that are invaluable. Whether your needs are for saving for your children’s educations, retirement, estate planning, tax efficiency, or asset management a financial planner is qualified to assist you with all of your financial needs.

Q. Why should I choose a fee-only advisor?

A. Fee-based firms do not sell or receive commissions from recommending specific products or funds. We invest in commission free investment instruments and do not charge transaction charges on trades. Compensation for the firm is based on a percentage of assets managed. This fee averages 1% , but may be slightly more or less based on the size of the account. (Always ask for the firms ADV which will provide details of the firm’s fee schedule.)

Q. What is the difference between a Registered Investment Advisor and a Stock Broker?

A. Registered Investment Advisors is governed by the Securities Exchange Commission while Stock Brokers are governed by the National Association of Securities Dealers. A registered Investment advisor has a fiduciary responsibility to their clients to always act in the clients best interest and are held to accountability on the most important issue. Registered representatives , or stock brokers, do not shoulder this responsibility and serve as registered representatives to the broker dealer from which they offer and clear their investment offerings.

Q. How do I know how much I should be putting away for my retirement needs?

A. Please complete the attached form and mail the form to our office if you would like for us to make or update your retirement income goals to make sure you are saving enough today to fund your retirement needs. Upon receipt of this information Brooks will call you to discuss the details of the report. Retirement Planning Form

Q. How do I know how much I need to put away for my children or grandchild’s college education?

A. Please complete this form and mail the form to our office if you would like for us to determine or update your children or grandchildren’s college education funding requirements. Upon receipt of this information we will run a report for you and then Brooks will call you to discuss the details of the report. Educational Projections—Information Worksheet

The Firm—Answers

Q. How much time should I allow for my first meeting?

A. Usually an hour is sufficient for a first meeting.

Q. What is Clark Financial Advisors relationship with Fidelity?

A. Clark Financial Advisors is the Registered Investment Advisor acting as the advisor on the accounts. Fidelity acts as the custodian of the firm’s client’s accounts. Fidelity’s primary role is to provide back office support.

Q. What are Clark Financial Advisors’ fees?

A. Clark Financial Advisors is a fee only firm. The approximate management fee is 1% annually, deducted quarterly from your brokerage account. Account minimums apply.

Q. Who makes the investment decisions regarding my portfolio?

A. Investment decisions are carefully reviewed by M. Brooks Clark, the firm’s founder. Portfolios are designed to reflect your risk tolerance, age, goals and objectives, Brooks will select the investment model that is most appropriate for you. Your account will be monitored on an ongoing basis in an attempt to meet your investment objectives.

My Accounts—Answers

Q. I have a new address. How can I change my address for my accounts?

A. You may download the attached PDF file, complete the form and return it to our office. This will allow us to change the address on your Fidelity accounts. If you have additional accounts with our office, such as John Hancock, Nationwide, Collegebound, etc. Please call our office and we will complete the items needed to change the address on your accounts.

Q. How do I add more money into my account at Fidelity?

A. Please make your check payable to: Fidelity and mail it to our office. If you know the account number of the account you would like the funds to be deposited please place that number in the memo field. If you need a supply of our return envelopes please let us know.

Q. Can I view my accounts online and if so how do I sign up for online access?

A. Yes, you can view your Fidelity accounts online, please contact Brooks Clark to assist you with that request. (Brooks@clarkfinancialadvisors.com).

Q. How often will I receive statements?

A. You will receive a statement from Fidelity each month. In addition, if you would like to receive a consolidated statement each quarter from our office, you may do so by contacting Brooks Clark (Brooks@clarkfinancialadvisors.com).

Q. Can I receive one consolidated statement from Fidelity each month instead of individual mailings per account?

A. Yes, please download and sign the attached form and mail it to our office. (We will provide you with your account numbers, just simply sign the form and mail it to us. )

Q. Can I stop the confirmations that come in the mail every time a trade in placed in one of my accounts?

A. Unfortunately you can not completely stop the confirmations from being sent, however, you can suppress them so that they will come to you each quarter in one bulk mailing. To do so, please download and sign the attached form and mail it to our office.

Q. Can I make automatic monthly contributions or receive withdrawals to/from my Fidelity account?

A. Yes, please contact Brooks Clark so that he can determine and complete the correct paperwork that will be needed to complete this request. (Brooks@clarkfinancialadvisors.com)

Q. How can I request money from one of my accounts?

A. Please contact Brooks Clark to help you with this request. Forms are available online to assist you with this request for retirement accounts and no forms are necessary for non-retirement accounts. Brooks can assist you by making sure the correct procedures for completing this request are made (Brooks@clarkfinancialadvisors.com).

Q. Can I have check writing privileges on my brokerage account?

A. Yes, if you would like to have check writing privileges on your account please download and complete the attached form. Please note: If you would like check writing privileges on your IRA please contact our office for assistance as there is a different form for retirement accounts.