Financial Planning vs. Financial Advisor

Written by Katie Palmer

Reviewed by Nick Andresen, CFP®, Director of Wealth Management at 360 Financial

When you start to get serious about pursuing financial independence, you’ll probably begin to wonder about the difference between “financial planning” vs. “financial advisor.” Similar terms can cause confusion, but we’re here to help you understand these terms and their differences.

TABLE OF CONTENTS

  1. What is Financial Planning?
  2. What does a financial planner do to help their clients?
  3. What designation does a financial planner have?
  4. What is the Difference Between a Financial Planner and Financial Advisor?
  5. What does a financial advisor do to help their clients?
  6. What designations does a financial advisor have?
  7. What is the difference between a financial planner and a financial advisor?
  8. Do I Need a Financial Advisor or Planner?
  9. Do I need to find a financial advisor or planner locally?
  10. What is the cost of working with a financial advisor?
  11. Key Takeaways
  12. 360 Financial’s Financial Advisors

What is Financial Planning?

You have a financial goal but don’t know what steps to take to reach that goal. That’s where financial planning comes in: Financial planners help you create an actionable, achievable financial plan to help you meet your goals. A financial planner can help you reach long-term goals related to:

  • Budgeting
  • Saving
  • Retirement planning
  • Investing
  • Insurance

If you need help with these areas, then a financial planner is what you need.

What does a financial planner do to help their clients?

A financial planner creates long-term programs to help their clients reach their long-term financial goals. They help you chart a course for your life as it relates to your finances, analyzing every aspect—such as your savings, taxes, expenses, and investments.

Goals a financial planner can help you achieve include:

  • Saving to fund your child’s college education
  • Buying a new home
  • Saving to retire comfortably
  • Increasing profitable investments

One key aspect of a financial planner is that they provide targeted services. You’ll come in with a specific goal in mind, and they’ll help you reach that goal.

What designation does a financial planner have?

Typical designations of financial planners include:

  • Certified Financial Planner (CFP)
  • Chartered Financial Analyst (CFA)
  • Chartered Financial Consultant (ChFC)
  • Certified Investment Management Analyst (CIMA)

Make sure your financial planner has at least one of these designations before moving forward with them. The term “financial planner” is an unregulated umbrella term, so you’ll want to be sure that they have the proper designations before trusting them with your financial future.

Now that you have a full understanding of financial planners, we’ll dive into the difference between them vs. a financial advisor.

What is the Difference Between a Financial Planner and Financial Advisor?

The difference is that while a financial planner helps you with a very specific goal, financial advisors are more broad in their approach. Financial advisors typically offer the same services as a financial planner, but they offer even more, including managing your investments.

Another key difference between financial planners vs. financial advisors is how you pay them. A financial planner will typically charge a flat hourly or annual fee, while a financial advisor often earns commission on investments or products they sell. Some financial advisors earn a combination of commissions and flat fees, and others may charge a percentage of your overall portfolio per year.

Now, we’ll dive further into what exactly a financial advisor does to help you further understand the difference.

What does a financial advisor do to help their clients?

While a financial advisor offers similar services to a financial planner, they also offer even more services, including:

  • Managing your investments
  • Acting as your stock broker
  • Advising and arranging insurance coverage
  • Strategizing estate planning
  • Making financial decisions
  • Executing your financial plan

While a financial planner will create your plan, a financial advisor will provide more hands-on services actually to help you execute that plan.

What designation does a financial advisor have?

If a financial advisor is working with the public, they are required to hold a FINRA Series 65 license. On top of that license, they may also hold other financial certifications that are similar to those of a financial planner. These may include:

  • Certified Financial Planner (CFP)
  • Chartered Financial Analyst (CFA)
  • Chartered Financial Consultant (ChFC)
  • Certified Investment Management Analyst (CIMA)

The main designation to look for in a financial advisor is the FINRA Series 65 license.

Do I Need a Financial Advisor or Planner?

Choosing between a financial advisor and a planner will look different for everyone. The right fit for you depends on what your individual needs are. Before we jump into how to decide, remember that your needs will probably change over the course of your life. While one may be the best fit for you now, you may want to switch in a few years.

A financial planner is best for you if you:

  • Want help developing a long-term financial plan, but don’t need help implementing that plan
  • Want to understand how your finances will evolve over your lifetime
  • Have gone through a major life change, such as getting married
  • Are nearing retirement
  • Need help managing debt, saving for college or retirement, or minimizing expenses
  • Need help strategizing about asset transfers

A financial advisor may be the best fit for you if you:

  • Are looking for help implementing your financial plan
  • Don’t want to or don’t feel comfortable making financial decisions
  • Are looking for occasional financial guidance
  • Need help with a specific investment strategy

Again, your situation will likely change over your lifetime, so your decision isn’t permanent. You can always change your mind in the future.

Do I need to find a financial advisor or planner locally?

No, you don’t need to find a financial advisor or planner locally. In fact, doing so can be extremely limiting. The best fit for you may be just a Zoom call away, so don’t be afraid to consider financial advisors or planners that aren’t local.

What is the cost of working with a financial advisor?

Financial advisors can charge for their services in a few ways:

  • Flat hourly ($100 – $400 per hour) or annual fee (ranging between $2,000 and $7,500 per year)
  • Commission on investments or products (a certain percentage)
  • A certain percentage on your portfolio (typically 0.25% to 1% per year)

It all depends on which financial advisor you choose, and how they charge for their services.

Key Takeaways

  • A financial planner creates a plan, while a financial advisor creates your financial plan AND executes it.
  • A financial planner offers targeted services, while a financial advisor can help with more general financial services.
  • Choosing a financial planner vs. a financial advisor depends on your specific circumstances and needs, and these may change at any time.
  • Looking for a financial planner or advisor locally limits your options, and may stop you from finding the best fit.

360 Financial’s Financial Advisors

Mike Rogers

Mike Rogers, President, is the founder of Wayzata-based 360 Financial. As the founder, Mike’s priority is that 360 Financial always serves the client with empathy, integrity, and honesty. This unique, client-centric approach allows the firm to help clients decipher between the things they can control and what truly matters.

In other words, Mike understands that money is not the end all be all, instead it’s the “how” that fuels the “why” to the question: “What’s important to you?”

Learn more about Mike.

Dan Mahoney

Dan, Senior Vice President of 360 Financial, has been a financial advisor for over twenty-five years, specializing in financial planning. He draws on many years of experience at Paine Webber/UBS Wealth Management.

Learn more about Dan.

Brian Bohnsack

Brian has a wide range of experience in financial services, accounting, and management. He loves working directly with his clients to help them learn more about their goals and dreams and educate them about financial planning and investing.

Learn more about Brian.

Nick Andresen, CFP®

Nick, CFP® and Director of Wealth Management, joined 360 Financial in December 2018. He has 14 years of experience in the financial services industry. Nick’s expertise includes personal financial planning, investment management, insurance strategies, tax strategies, and estate planning.

Learn more about Nick.

Lauren Brown, CFP®

Lauren, CFP®, joined 360 Financial in July 2021. Lauren has over 10-years of experience in the financial services industry. Before joining 360 Financial, Lauren was a Financial Advisor with a local Independent Advisory firm where she helped individuals and couples develop their financial plans and pursue their goals.

Learn more about Lauren.

Jeff Thompson

Jeff, Senior Vice President of 360 Financial, brings 22 years of financial planning experience to his clients, including experience from Wells Fargo Investments, Morgan Stanley, and Paine Webber. He specializes in full balance sheet financial planning, retirement planning, 401(k) Plans, and IRA rollovers.

Learn more about Jeff.

Tom Whitnah

Tom, Senior Vice President of 360 Financial, has been providing financial and advisory services to clients for 32 years. Prior to joining 360 Financial in 2011, Tom was at Morgan Stanley Smith Barney. He takes pride in crafting an investment plan to fit in with each of his clients’ stated needs and goals.

Learn more about Tom.

Next Steps

When you’re looking for a financial advisor, look for one that puts your needs first. At 360 Financial, we have a process centered around you, your goals, and what matters to you. We want to get to know you and your family, your financial goals, and any frustrations you have.

If you decide to work with us, we’ll mutually decide if there’s a comfortable fit—after all, we want to make sure your needs are being met. Book a 15-minute introductory call with 360 Financial today.


Top Financial Planning Articles

Want to keep learning about financial planning? Keep reading:

About the Author

Katie Palmer is a researcher, writer, and content marketer who helps you easily understand financial planning topics.

Schedule a Call

At 360 Financial, you and your financial goals come first, always. We’ll help you understand all the pieces of your financial puzzle, and work toward your financial goals for long-term success. Book a 15-minute introductory call with us today.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Katie Palmer is not affiliated with LPL Financial or 360 Financial.

How to Find a Wealth Management Advisor

Written by Katie Palmer

Reviewed by Nick Andresen, CFP®, Director of Wealth Management at 360 Financial

Wealth management advisors help you follow your dreams—whether that be retirement, a college fund for your child, or traveling the world. If you want to pursue your dreams, you’re probably wondering how to find a wealth management advisor. We’ll be diving into your question today.

TABLE OF CONTENTS

  1. How to Find a Wealth Management Advisor You Can Trust
  2. How do I choose a wealth advisor?
  3. What is the Typical Fee for a Wealth Manager?
  4. Are wealth management advisors worth it?
  5. How much money should you have to hire a financial advisor?
  6. Key Takeaways

How to Find a Wealth Management Advisor You Can Trust

Before you look for a wealth management advisor, you have to know what it really is. The definition of “wealth management” varies from company to company, and from advisor to advisor. No matter what advisory firm you turn to, make sure you understand what their definition of wealth management is—and if it will truly help you manage your wealth.

At 360 Financial, our wealth management advisors look at you and your family’s finances holistically. Our services include:

  • Meaning-of-life questions on life goals, money, and values alignment
  • Comprehensive & long-range wealth management & financial planning
  • Education planning & funding (college planning)
  • Estate & estate tax planning
  • Generational wealth
  • Investment advice & management
  • Philanthropic planning & charitable giving
  • Retirement goals & planning
  • Risk management
  • Specialist referrals
  • Tax planning & strategies

Our goal is to help our clients get their finances in order—ultimately helping them feel more confident and happy.

How do I choose a wealth advisor?

Finding the right wealth advisor helps you shift your mindset towards finances. You’ll look toward the future with confidence and optimism, knowing you’re breathing your dreams to life. Choosing the right wealth advisor is essential.

Here are our steps to help you choose the best wealth advisor:

  1. What does wealth management mean to you? Find an advisory firm who agrees with your definition.
  2. What do you want in a wealth advisor? Find one who offers those services.
  3. What wealth management services are most important to you? Look for an advisor with related experience.
  4. Think about how you would like your relationship with your wealth advisor to be structured—then ask potential advisors questions, to see if their vision aligns with yours.
  5. Look for an advisor who listens to you and is empathetic to your needs.
  6. Ask wealth advisors personal questions, such as, “What do you like to do for fun?” or “What do you enjoy most about managing wealth?” These questions can help you see if you mesh well.
  7. Consider the advisor’s client testimonials, or ask family and friends for their recommendations.

While finding a wealth manager can take time, you’ll be glad you looked for the right one you can trust down the line. After all, managing your wealth is an important task, and you need someone who can help you reach your goals—without stress.

At 360 Financial, we pledge to serve your needs with the utmost respect, earn your trust, and uphold your best interest. Here, we build intentional relationships, and many of our clients become lifelong friends.

What is the Typical Fee for a Wealth Manager?

Many wealth management firms have sliding scale fees. Typically, the more assets you have with the advisory firm, the lower the fee. You can expect to pay a certain percentage of the money you have with the firm—for example, maybe 1% or 2%. These fees will vary greatly, depending on which firm you choose.

Are wealth management advisors worth it?

Wealth management advisors are worth it, because with their help, you can pursue your goals confidently. Great wealth advisors simplify, clarify, and customize your investment approach. Ideally, their plans will be easy to understand, answering all your questions and providing a roadmap.

The fees are increasingly worth it the more wealth you have. However, wealth management benefits everyone, in all walks of life. You’ve worked hard to become successful, and you deserve the right guidance in seeking to ensure your assets are protected.

How much money should you have to hire a financial advisor?

If you have over $750,000 in investable assets, then you should definitely consider hiring a financial advisor. However, anyone can hire one, no matter what your financial situation is. If you have less investable assets, you may have to pay higher percentages.

 Key Takeaways:

  • Focus on finding a like-minded financial advisor in terms of:
    • Wealth management
    • What a wealth advisor offers
    • Relevant experience
    • Client relationship
    • Interests outside of work
  • Consider client testimonials, or ask family and friends for advisor recommendations
  • At 360 Financial, your needs come first, and we create a customized, financial plan for you. Your financial well-being and needs always come first.

Next Steps

At 360 Financial, we build relationships based on trust, communication, and chemistry. We want to get to know you, your financial goals and dreams, and any frustrations you’re facing. When you work with us, we mutually decide if there’s a comfortable fit—after all, we just want what’s best for you.

Book a 15-minute introductory call with 360 us today.


Top Financial Planning Articles

Want to keep learning about financial planning? Keep reading:

About the Author

Katie Palmer is a researcher, writer, and content marketer who helps you easily understand financial planning topics.

Schedule a Call

At 360 Financial, our clients come first. You deserve personalized attention from an advisor at our firm. You’ll be happier and more confident to know that your needs always come first. Book a 15-minute introductory call with us today.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Katie Palmer is not affiliated with LPL Financial or 360 Financial.

How Does Wealth Management Work?

Written by Katie Palmer

Reviewed by Nick Andresen, CFP®, Director of Wealth Management at 360 Financial

In a time where financial instability is a huge concern, you may be wondering, “How does wealth management work?” This is a great question. When you start building wealth, the last thing you want to do is put it in a savings account that doesn’t make any interest.

In contrast, wealth managers make your assets and wealth work for you.

Sounds too good to be true? Keep reading while we explain wealth management and how it can benefit your finances.

TABLE OF CONTENTS

  1. What is Wealth Management?
  2. At What Point Do You Need a Wealth manager?
  3. Are Wealth Management Fees Worth it?
  4. Wealth Management Process
  5. Key Takeaways

What is Wealth Management?

Wealth managers help you not only save your wealth, but also build upon it. They look at your financial goals and help you pursue financial freedom and security. Wealth managers help you manage your assets, invest wealth, and preserve wealth for future generations.

 A wealth manager will help you set up an investment plan that suits your goals and risk tolerance. They can advise you on how to achieve your goals by providing specific investment recommendations. They’ll help you make informed decisions about how your money is being invested.

How is a Wealth Manager Different from a Financial Planner?

While financial planners consider a broader vision of your finances—from insurance to everyday expenses—wealth managers might only focus on assets, investments, will and trust services, and estate planning.

At What Point Do You Need a Wealth Manager?

The higher your assets are, the less you’ll have to pay a wealth manager. That’s why typically only affluent people invest in wealth management. Wealth managers typically only serve high-net-worth individuals (HNWI), which is those with over $750,000 in assets.

Are Wealth Management Fees Worth it?

The truth is: It’s impossible to be an expert in everything. Wealth managers take the financial stress off your shoulders by giving you the knowledge and advice you need to continue building your wealth responsibly.

However, if you’re not a high-net-worth individual, wealth management fees are probably not worth it. In those cases, you can seek a financial planner.

Wealth Management Process

If you want to understand how wealth management works, here are the steps that a wealth manager will take: 

  1. Meet with you to understand your goals, needs, and financial situation.
  2. Research investment options to find those that align with your goals and needs
  3. Create an investment plan based on your preferences, goals, and risk tolerance
  4. Collaborate with you and making sure you’re comfortable with your plan
  5. Manage your investments over time
  6. Monitor your financial progress and make changes as needed

You’ll be in communication with your wealth manager throughout the whole process to ensure your needs are met.

 Key Takeaways:

  • Wealth management is for affluent people who need comprehensive wealth management services.
  • Your wealth management plan will be specific to your financial goals and needs.
  • Wealth managers help you invest and build your wealth.

Next Steps

At 360 Financial, we take the time to get to know you and your goals. We create a customized financial strategy to help you reach those goals. We’ll work with you every step of the way.

 with 360 Financial today.

Top Financial Planning Articles

Enjoyed this article? Keep reading to learn more about financial planning.

About the Author

Katie Palmer is a researcher, writer, and content marketer who helps you easily understand financial planning topics.

Schedule a Call

At 360 Financial, we believe that every client deserves personalized attention from our team of experts. You can be confident in knowing that your financial needs are our first priority.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All investing involves risk including loss of principal. No strategy assures success or protects against loss.

Katie Palmer is not affiliated with LPL Financial or 360 Financial.

 

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RESILIENT CONSUMERS HAVE NOT SAVED RETAIL STOCKS

Economic and corporate data support the initial strong reads on holiday retail sales despite the macro headwinds, reinforcing the idea that today’s consumer is in a better position than usual at this point in the business cycle. However, consumers were likely tapping into credit and using savings to support spending. In this week’s Weekly Market Commentary we share insights on publicly traded retailers, analyze their underperformance year to date, and look forward to 2023.


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    WEBINAR: Retirement Planning for Business Owners

    October 12, 2022

    How do business owners plan for retirement? What is the best way to save for retirement when self-employed? As a sole proprietor, with employees, how do you develop an exit strategy or succession plan for your business? Mike Rogers, President of 360 Financial, will guide you through essential steps you should take as an entrepreneur to plan for retirement, save when self-employed, and develop an exit strategy for your business.

     

    As you watch, if you have any specific questions or concerns, please don’t hesitate to reach out to our team!

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      Great News! We Merged.

      September 8, 2022

      Fleming Investment Group has merged with 360 Financial! Together, we can all provide a broader range of services than previously managed. We’re excited to announce that as of September 8, 2022, both firms will be operating together.

        

      We continue to enrich lives through values-based principles for our clients, employees, and team members. By living and breathing six core values: confidence, going above and beyond, positivity, problem-solving, community impact, and integrity, we hope to achieve your genuine satisfaction as we help you pursue your aspirations.

       

      We are very excited to offer expanded services, a wonderful team, and an entire disciplined financial services team to support you and your family’s financial needs.

      You can now choose between one of two convenient office locations. The additional team members strengthen our bench as we continue to grow and remain on the 2022 Inc. Magazines Best Workplaces list. 360 financial made the list of 475 companies, is one of 35 companies in the financial industry, and is the only one based in Minnesota.

      Warmest welcome to the new 360 team members; Brian, Danielle, Naomi, and Patty!

      NOW two convenient locations!

      Read the Press Release

      Fleming Investment Group has been compensated in connection with this merger. Clients are under no obligation to remain with Brian Bohnsack in connection with the merger.

      Download Your FREE Copy of Our Minnesota Estate Planning Checklist

        Webinar: Leaving a Positive Legacy

        August 29, 2022

        Do you know what kind of legacy you want to leave? Estate planning isn’t about death. It’s about your happiness, your family’s happiness, and leaving a positive legacy. Mike Rogers, President and founder of 360 Financial, will uncover four estate planning secrets to help you understand the opportunity estate planning creates, the power of big picture planning, and your ability to leave a positive legacy.

         

        As you watch, if you have any specific questions or concerns, please don’t hesitate to reach out to our team!

        Looking for more information?

        Webinar: Midyear Outlook 2022: Navigating Turbulence

        July 27, 2022

        Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a full-blown crisis like 2008–2009 or 2020, but the ride has been very bumpy. We may not be flying into a storm, but there’s been plenty of turbulence the first part of 2022. How businesses, households, and central banks steer through the rough air will set the tone for markets over the second half of 2022. Midyear Outlook 2022: Navigating Turbulence as he covers the economy, stocks, bonds, and policy.

        Mike Rogers, President, and founder of 360 Financial, provides a fast-paced overview of economic insights and market guidance.

        As you watch, if you have any specific questions or concerns, please don’t hesitate to reach out to our team!

        info@360financial.net

        Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. LPL Financial does not provide tax advice. Clients should consult with their personal tax advisors regarding the tax consequences of investing.

        The opinions, statements and forecasts presented herein are general information only and are not intended to provide specific investment advice or recommendations for any individual. It does not take into account the specific investment objectives, tax and financial condition, or particular needs of any specific person. There is no assurance that the strategies or techniques discussed are suitable for all investors or will be successful. To determine which investment(s) may be appropriate for you, please consult your financial professional prior to investing. Any forward-looking statements including the economic forecasts herein may not develop as predicted and are subject to change based on future market and other conditions. All performance referenced is historical and is no guarantee of future results. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and does not reflect fees, expenses, more sales charges. All performance referenced is historical and is no guarantee of future results. Alternative investments may not be suitable for all investors and should be considered as an investment for the risk capital portion of the investor’s portfolio. The strategies employed in the management of alternative investments may accelerate the velocity of potential losses. Event driven strategies, such as merger arbitrage, consist of buying shares of the target company in a proposed merger and fully or partially hedging the exposure to the acquirer by shorting the stock of the acquiring company or other means. This strategy involves significant risk as events may not occur as planned and disruptions to a planned merger may result in significant loss to a hedged position. Any company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities. All index data from FactSet. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

        GENERAL RISK DISCLOSURES

        Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. Investing in foreign and emerging markets debt or securities involves special additional risks. These risks include, but are not limited to, currency risk, geopolitical risk, and risk associated with varying accounting standards. Investing in emerging markets may accentuate these risks. GENERAL DEFINITIONS Gross Domestic Product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory. The PE ratio (price-to-earnings ratio) is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio. Earnings per share (EPS) is the portion of a company’s profit allocated to each outstanding share of common stock. EPS serves as an indicator of a company’s profitability. Earnings per share is generally considered to be the single most important variable in determining a share’s price. It is also a major component used to calculate the price-to-earnings valuation ratio. The Standard & Poor’s 500 Index is a capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The Bloomberg U.S. Aggregate Bond Index is an index of the U.S. investment-grade fixed-rate bond market, including both government and corporate bonds.

        EQUITY RISK

        Investing in stock includes numerous specific risks including the fluctuation of dividend, loss of principal and potential illiquidity of the investment in a falling market. Because of their narrow focus, sector investing will be subject to greater volatility than investing more broadly across many sectors and companies. Value investments can perform differently from the market as a whole. They can remain undervalued by the market for long periods of time. The prices of small and mid-cap stocks are generally more volatile than large cap stocks.

        EQUITY DEFINITIONS

        Cyclical stocks typically relate to equity securities of companies whose price is affected by ups and downs in the overall economy and that sell discretionary items that consumers may buy more of during an economic expansion but cut back on during a recession. Countercyclical stocks tend to move in the opposite direction from the overall economy and with consumer staples which people continue to demand even during a downturn. Growth stocks are shares in a company that is anticipated to grow at a rate significantly above the average for the market due to capital appreciation. A value stock is anticipated to grow above the average for the market due to trading at a lower price relative to its fundamentals, such as dividends, earnings, or sales. Value stocks are anticipated to grow above the average for the market due to trading at a lower price relative to its fundamentals, such as dividends, earnings, or sales. Large cap stocks are issued by corporations with a market capitalization of $10 billion or more, and small cap stocks are issued by corporations with a market capitalization between $250 million and $2 billion.

        FIXED INCOME RISKS

        Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Bond yields are subject to change. Certain call or special redemption features may exist which could impact yield. Government bonds and Treasury bills are guaranteed by the US government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value. Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate, and credit risk, as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features. Mortgage-backed securities are subject to credit, default, prepayment, extension, market and interest rate risk. FIXED INCOME DEFINITIONS Credit Quality is one of the principal criteria for judging the investment quality of a bond or bond mutual fund. As the term implies, credit quality informs investors of a bond or bond portfolio’s credit worthiness, or risk of default. Credit ratings are published rankings based on detailed financial analyses by a credit bureau specifically as it relates to the bond issue’s ability to meet debt obligations. The highest rating is AAA, and the lowest is D. Securities with credit ratings of BBB and above are considered investment grade. The credit spread is the yield the corporate bonds less the yield on comparable maturity Treasury debt. This is a market-based estimate of the amount of fear in the bond market. Base-rated bonds are the lowest quality bonds that are considered investment-grade, rather than high-yield. They best reflect the tresses across the quality spectrum. The Barclays Aggregate U.S. Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass through securities, and asset-backed securities. High yield/junk bonds (grade BB or below) are not investment grade securities, and are subject to higher interest rate, credit, and liquidity risks than those graded BBB and above. They generally should be part of a diversified portfolio for sophisticated investors. Municipal bonds are subject to availability and change in price. They are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise. Interest income may be subject to the alternative minimum tax. Municipal bonds are subject to availability and change in price. They are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise. Interest income may be subject to the alternative minimum tax. Municipal bonds are federally tax-free but other state and local taxes may apply. If sold prior to maturity, capital gains tax could apply.

        Inc. Magazine’s Best Workplaces 2022 Award

        360 Financial, Inc. Named to Inc. Magazine’s Annual List of Best Workplaces for 2022

        360 Financial Inc. has been named to Inc. magazine’s annual Best Workplaces list. Featured in the May/June 2022 issue, which hits newsstands on May 17 and is prominently featured on Inc.com, the list results from a comprehensive measurement of American companies that have excelled in creating exceptional workplaces and company cultures in a physical or virtual facility.

        360 Financial is a locally owned, boutique wealth management firm specializing in business owners, thriving families, and top-of-their-field professionals. The company’s mission is to enrich lives by navigating life’s impactful financial events. We learn and understand what is most important to our clients, and we align their values-based life objectives to their financial goals.

        We use this enriching and values-based principle for our employees and team members, living and breathing six core values: confidence, going above and beyond, positivity, problem-solving, community impact, and integrity. On the Best Workplaces list, 360 Financial, Inc. is one of 35 companies in the financial industry and the only one based in Minnesota. It is the only wealth management company on the list of 475 companies.

        “A round of applause to each of our team members. This award only happened because they all positively contribute to our core values and culture. What a tremendous acknowledgment of the teams’ commitment!” noted Mike Rogers, president and founder of Wayzata-based 360 Financial. “If we treat our team this well, think how well we treat our clients!”

        After collecting data from thousands of submissions, Inc. selected 475 honorees this year. Each nominated company took part in an employee survey conducted by Quantum Workplace, which included topics like management effectiveness, perks, fostering employee growth, and overall company culture. The organization’s benefits were also audited to determine the overall score and ranking.

        See the 2022 list here.

        The Bad Days are Only Temporary Market Update

        July 12, 2022

        Mike Rogers, President, and founder of 360 Financial, reminds us that the bad days are only temporary. We cannot control everything, like the market volatility we are experiencing today. We continue to read negative headlines from the news, making it difficult to stay positive. Is there a silver lining? Mike will reiterate that we can control our actions. Don’t make a fear-driven mistake. If you have a LifeWealth plan, it accounts for the market volatility that we are witnessing today.

        As you watch, if you have any specific questions or concerns, please don’t hesitate to reach out to our team!

        info@360financial.net

        Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. LPL Financial does not provide tax advice. Clients should consult with their personal tax advisors regarding the tax consequences of investing.