What is Proctor Financial’s specialty?

Proctor Financial is a recognized expert in all areas of retirement planning. Whatever needs arise from planning for retirement, be they managing investments to provide an increasing income in retirement, estate planning, and more, we help fulfill for our clients on a daily basis. The national media has recognized us for our expertise as well.

How big is the firm?

Proctor Financial currently has two senior advisors and manages over $200 million in client assets.

Why should I use Proctor Financial over one of the big financial planning firms?

1. With Proctor Financial, you will work with a senior Certified Financial Planner (CFP®), who will remain your primary contact throughout your relationship with the firm. This is often not possible with the big firms.

2. Our CFP®s offer personal attention and long-term client relationships that we believe the big firms can never match.

Does Proctor Financial have a minimum net worth for investing?

New clients of Proctor Financial must have at least $500,000 in investable assets. Our President’s Club members – those working directly with Tony Proctor – must have at least $1 million to invest.

Who is a typical Proctor Financial client?

Clients of Proctor Financial typically have between $500,000 and $10 million in investable assets. While this makes the majority of our clients millionaires, they tend not to be the type to show off their success, or even to think of themselves as especially wealthy.

How is Proctor Financial compensated?

Our clients pay for comprehensive investment planning with fees based upon a percentage of assets invested; the more invested, the lower the percentage.

This system is ‘investment agnostic’; unlike some other financial management structures, there is no motivation for us to favor one investment vehicle over another. The fee-based system enables us to take an entirely client-centric view with each account. If the account grows, we are compensated more; if it shrinks, we make less.

Tax preparation services are billed at a separate rate.

Does Proctor Financial have any affiliation with a product or sales organization, or with a broker dealer?

No. Proctor Financial is completely independent.

Is Proctor Financial registered with the U.S. Securities and Exchange Commission (SEC)?

Proctor Financial is registered as an investment advisor with the SEC. Schwab functions as a custodian for our clients’ invested assets.

What is Proctor Financial’s approach to Retirement Planning?

Our first step with any new client is to spend time learning his or her needs. We invest our time upfront to help realize each client’s vision for retirement, adjusting as your vision becomes clearer and circumstances change.

Our investment approach is logical rather than emotional, based on client needs, retirement goals, total assets and resources.

How is Proctor Financial’s retirement planning approach different from other investment firms?

Retirement planning at Proctor Financial is based on our proprietary TCM: Time-weighted Cash flow Management system, which features a year-by-year calculation of the net cash flow needed from a client’s total portfolio. Assets are then selected to deliver the desired income for each year of the plan. The Proctor Financial TCM system delivers needed cash flow each year in retirement while still maximizing the long-term asset value of each client’s portfolio.

Can I plan for my retirement on my own without the help of a professional retirement planner?

Yes, of course. We devote a substantial amount of time helping people manage their investments as they prepare for retirement, through our Financial Strategies for Successful Retirement® seminars. However, for the overwhelming majority of people, the cost of working with a Proctor Financial CFP® is more than offset by the peace of mind that comes from working with a professional, and hopefully by an improvement in asset performance over time.

How does Proctor Financial work with other professionals?

We have a CPA who works with Proctor Financial clients during tax season. We can also recommend estate-planning attorneys. Of course, we are happy to work with your current accountants and attorneys.

Does Proctor Financial help implement the recommendations they make?

Unlike some advisors, we go beyond recommending investments to actually implementing your financial plans. We provide full-service plan design and implementation.

How often do you meet with clients?

We like to see clients, face-to-face, at least once per year. Of course, clients of Proctor Financial are welcome to come in to see us as often as they like (within reason).

What is the difference between a CFP®, Investment Advisor, stockbroker, and basic financial planner without designation?

A CFP®, or Certified Financial Planner, is typically considered the gold standard for proof of expertise in personal financial advising. To become a CFP®, a financial advisor must complete what is usually a three-year program, passing examinations in five separate units as well as a comprehensive final exam that is completed over two days. A minimum of three years of industry experience is also required to attain CFP® certification. All Proctor Financial advisors are CFP®s.

An Investment Advisor is someone who has registered with a government organization to provide investment advice. An advisor must manage a minimum of $25 million in investable assets in order to register with the SEC. Advisors with fewer assets must register with state authorities.

A stockbroker is someone who has passed a Series 7 examination and earns his or her salary from commissions on sales of certain stocks, bonds, mutual funds, or other investments.

In Massachusetts, any advisor can call himself or herself a financial planner, without any specific qualification.

Can Proctor Financial help with Estate Planning?

Absolutely. We will work with you to identify gaps in your current plan, or work with you and an attorney to create and implement a new plan. As a service to clients, we periodically review current plans and recommend changes when necessary.

Can Proctor Financial help with a 401k?

Yes. For business owners and managers, we help clients select the best plans for employees and help with implementation.

For participants in 401ks, we help direct investments within the plan as part of our comprehensive money management services.

Do you give tax advice?

Yes. As part of our comprehensive services, we offer direction and advice on tax issues. We also have much experience working with accountants outside our firm, and are happy to work with your current experts.

Do you prepare tax returns?

We offer tax return preparation to financial management clients of Proctor Financial.

What are the steps to becoming a Proctor Financial client?

Once you have expressed interest in working with our firm, we gather financial data, and begin calculations and planning. Because we work with a select group of clients whom we care for as family, it is important that we have a sense of compatibility with any new clients.

What does Proctor Financial do to secure my personal information?

We have detailed and extensive privacy measures in place. Please read our Privacy Policy.

What safeguards are in place to prevent fraud and account pilfering?

All client assets are held by Schwab. Proctor Financial manages but never holds your money.

How long has Proctor Financial been in business?

Tony Proctor founded Proctor Financial in August of 1994.

How much input do I have as to how and where my money is invested?

As much as you want. Everything we do for you is based upon information you’ve provided about your own unique, personal situation.

When can I begin withdrawing money from my IRA without incurring a penalty?

The government says you can withdraw IRA funds beginning at 59 1/2. We can help our clients take money out earlier while avoiding penalties.

Am I notified about changes made to my accounts?

Yes. We send either email or paper mail when account holdings change. And, of course, you’re welcome to check your account page online at any time.

How much can I give to my children or grandchildren before reaching gift tax limits?

You may give away up to $14,000 per year to as many people as you like without incurring gift taxes. This can include a child and his or her spouse and all their children. Pets, however, are not eligible.

What’s the latest I can make a contribution to my IRA for a given calendar year?

Legally, you may wait until April 15 of the following year. However, we strongly advise clients to make their IRA contributions immediately after the New Year to take advantage of those 15 additional months of interest. The difference in what is saved come retirement time is striking.

Where should I mail my IRA contribution?

Clients of Proctor Financial can send their IRA contributions directly to our offices, making the check payable to Charles Schwab & Company.

When can I roll over my 401k into an IRA?

When you leave your employer, or at whatever age your employer’s plan says you can, even if you’re still working.

When must I begin withdrawing money from my IRA?

The U.S. government says you must start taking out money by April 1st of the year after you turn 70 1/2.

Where is my money being held? (Who is the custodian of my accounts?)

Client accounts are held at Charles Schwab & Company.

How are fees paid?

Fees are paid quarterly, by direct deduction from accounts at the end of the quarter in which the fees are incurred. IRA fees are paid in pre-tax dollars.

How can I help my grandchildren?

There are many programs available to help grandchildren, from college savings plans to trusts. Proctor Financial can work with you to determine the best way for you to help.

As a client of Proctor Financial, what kind of communications can I expect to receive? How will they be sent?

Periodic emails notify our clients when new reports and messages are in or when new website features are available. In addition to getting information to you more quickly, this has the environmental advantage of preventing needless paper waste.