Fulton's Core Theme: Has been honed down to a few words.
“I analyze (examine) the resources of the client, listening to understand their goals, objectives and learn their values. Then I share my recommendations to meet the client’s objectives and goals, sooner than they could on their own, using their values and the financial techniques that I have learn learned in my years as a financial advisor (now retired)”. This cuts years of frustration out of the process for them and improving out comes. Then I groom, train, teach you and mint you as a financial planner with one client and that client is you. I am not interested in being hired to do a formal financial plan. I now longer believe in the concept to be a valid practice.
Note: I have retired from being an IA (Investment Advisor), where I charged a fee for doing financial plans and charged hourly for on going support. Although, I stay current on the knowledge associated with it, I terminated that registration for six reasons:
I felt it was too challenging to overcome the conflicts of interest to charge fees for time when my clients needed financial products that I was licensed for although it is allowed with the proper disclosures. But there was one big exception, regulation was conflicting if it allowed charging for a financial plan that contained a suggestion for a reverse mortgage as a solution to the client to correct being under-funded for retirement. That was not always indicated as the proper solution, but was some of the time. Often I feel Reverse Mortgage is a good fit in some situations, so I just let go of the fees for being clean from a compliance point of view especially since I offer Reverse Mortgages as part of my product line.
Plus, in my heart I began to feel that the “financial plan” was not a good nor an honest product for me because over I was rarely calling on new planning clients and my more influential clients in some ways taught me half of what I know. My thinking shifted to believing in my client empowerment concept. It was often controversial for the prospective client wondering, “Why should they pay a fee if they might know more than me.” Now it is clear my prospective clients always learn a lot from a few meetings with me and it is a great value for their time invested when there is no fee charged. It is good for me because it does not scare away business and completely removes all conflicts of interest professionally. So I am now back to just being a sales person, as far as how I get paid.
Plus, as my clients average age became over age 62 which correlated with eligibility for Reverse mortgages and my ever growing belief that once you obtain this age group you need to rethink risk, which lead me to retiring the stock brokering component of my practice as well. As the direction of my practice changed to working with people who are either retired, strongly thinking about it, but can't afford to, my work migrated to this new method to accommodate that. It went from helping clients accumulate retirement capital to helping them retain what their accommodate that. This all lead to a more conservative portfolio of products and programs. So here we are.
This Site is Not Tax or Legal Advice. Always consult Legal Counsel and Your Tax Advisor. Content of website are the sole opinions of Robert Fulton & does not necessarily reflect those of Fulton Financial Consultants, Inc.'s Investor/Lenders or insurance companies or other product vendors. Because one of my product lines is that of Reverse Mortgages I must state the following: If the borrower does not meet loan obligations such as taxes and insurance, then the reverse mortgage will have to be repaid." The Terms, benefits and features shared as accurately as possible on best efforts basis and subject to change without notice. Therefore please discuss any decision making specifics with Robert Fulton 360-222-3236. "This material is not from HUD or FHA and has not been approved by HUD or any government agency."