FAQ

REDROCK WEALTH MANAGEMENT, LLC is a Registered Investment Advisor Firm regulated by the State of Nevada under the Nevada Uniform Securities Act. To verify the firm’s status as a Registered Investment Advisor Firm, you may follow this link to the Security and Exchange Commission’s Website here: www.sec.gov (The Securities & Exchange Commission Website)

Click the link to “Check out brokers & advisors” (under Investor Information), then “Research Investment Advisor Firms”. The following page will allow you to do an “Investment Advisor Search“, from here you can type in the firm name (REDROCK WEALTH MANAGEMENT OR Red Rock Wealth Management), or search by CRD #134562 or by SEC Registration #801-68386. With the results you can follow the links to the firm form ADV filed with the SEC and view the firm registration status.

The fact is there are dozens of financial service industry designation, many of which are created solely by companies looking to sell education products and services. Many of them mean little, if anything; however, there are a handful of designations which are critical to you and your financial future . . . designations which you should expect and require from your financial advisor.

You can perform a search of your financial advisor’s designations and learn more about those designations and what they mean through the Financial Industry Regulatory Authority here:

The FINRA Designations Search Page

Greg has held his Series 7, 31, 65, and 63 licenses in addition to other life and health insurance licenses in the past. Those licenses are essential to receiving commissions from the sale of investment or insurance products. With the exception of the Series 65, they are not required for active status as a Registered Investment Advisor Firm.

As the President & CEO of a Registered Investment Advisor Firm, Greg Phelps is now a Fee-Only Financial Advisor in Las Vegas. As such, he and his firm accept no commissions from the sale of insurance or investment products. Therefore, he does not actively hold (and is not required to hold) his licenses with any broker-dealer. If your financial advisor has any relationship (95% of financial advisors do) with a broker-dealer, they can and do accept commissions for recommending investment and insurance products, which is a conflict of interest.

To verify the CERTIFIED FINANCIAL PLANNER™ (CFP ®) designation, visit the CERTIFIED FINANCIAL PLANNER™ Board of Standards website and follow the process to find a CERTIFIED FINANCIAL PLANNER™.

There is only one international organization of Fee-Only financial planners – the “National Association of Personal Financial Advisors (NAPFA)”. NAPFA has strict business and ethical standards for its members in addition to accepting ONLY those planners who refuse commissions from the sale of insurance or investment products.

To verify Greg’s membership status as a NAPFA registered financial advisor, visit NAPFA’s website here:

http://www.napfa.org/

and click the link to “Find a NAPFA Registered Fee-Only Financial Advisor”, then search the Las Vegas or Henderson, NV area.

Greg is also a member of the FPA (Financial Planning Association). You can verify membership in the Financial Planning Association by visiting their website below:

http://www.fpanet.org/ – The Financial Planning Association

As your Las Vegas-based Registered Investment Advisor firm we will have the authority to:

1. Make transactions within your TD Ameritrade account in order to allocate your investments according to your financial plan and the Investment Policy created for you

2. Request a check be sent directly to you, or a transfer be made to a like-named account. No funds can be withdrawn or likewise transferred out in any other name except for your own. For example, TD Ameritrade will not send a check to “John Doe” at our request, but they will send one to you at our request

3. Deduct management and investment advisory fees from your accounts per our Wealth Advisory Services Agreement and Fee Schedule. Account debits in excess of the normal or usual investment advisory fees (noted in our form ADV which is on file with TD Ameritrade) are not allowed. TD Ameritrade has safeguards in place to prevent excessive investment advisory fee debits from being processed

4. View online, monitor and maintain, and discuss your accounts directly with you

IRS Code Section 212 states that investment advisory and financial planning fees incurred may be deductible as miscellaneous itemized expenses to the extent that they exceed 2% of your adjusted gross income. Other miscellaneous itemized deductions which fall into the same category are fees paid for a safe deposit box, estate planning fees, tax preparation fees, attorney and legal fees, and more. So the short answer is fees paid for wealth advisory services may be deductibe and we encourage our clients to ask their accountant or CPA about the deductibility of fees.

No. Your portfolio will be custodied at TD Ameritrade Institutional, and they have implemented safeguards to protect you and your financial assets. For example:

1. Any money leaving your account will only be sent by the custodian directly to your address of record and in your name. Your address cannot be changed without your written consent, and the Institutional Service Team verifies your signature matches the one they have on file for such a request;

2. Any money transferred out of your account (with the exception of the firm’s investment management fees) may only be transferred into an account with the exact same registration. For example, an account in the name of John and Jane Doe may only transfer to another account in the exact name of John and Jane Doe;

3. TD Ameritrade retains on file a copy of the Firm’s most current Form ADV. Attempts to debit your account for investment management fees substantially in excess of the norm are immediately flagged as an excessive percentage of your portfolio and validated with an appropriate reason only (in the case of client fees for several accounts being taken from one account for example).

Yes. The Firm carries professional liability insurance in the amounts of $500,000 per claim maximum and $1,000,000 per year total. If you would like a copy of our professional liability insurance policy please request one directly.

The Firm maintains state of the art security measures. While no guarantees can be made in the current day and age of cyber hackers and other criminals, we have consulted with leading computer security experts. These experts have attempted to expose “holes” or “flaws” in our systems and were not able to do so. As such we feel confident we are doing everything we can to protect our clients to the fullest extent available with the current technology. We are very concerned with computer security and take this matter very seriously. In addition, the Firm shreds all client documents using a cross cut high capacity shredder and tests our security measures on a regular basis.

Yes. By law we cannot disclose your private information to anyone but you directly, or your other financial advisors (attorneys, accountants, estate planners) with your consent only. Our client’s information is highly confidential and we take this matter very seriously.

No. We absolutely do not guarantee returns whatsoever. Rather we put together solid and focused financial and retirement plans for our clients designed to help them achieve their goals. Financial and investment planning is just as much of an art as it is a science, and we cannot predict the future nor guarantee returns in any form.

We work diligently for all of the Firm’s clients and as such, the overwhelming majority of them are happy to provide a reference regarding the Firm’s services. While not every client chooses to provide a reference (some high-profile clients wish to maintain their privacy), you can contact Redrock Wealth Management, LLC directly, and Greg will be happy to connect you with current clients.

We go ONE STEP FURTHER! Ask any other financial advisor out there for references and they’ll likely “cherry-pick” a few of their clients which they have a good relationship with. For this reason, references from other financial advisor “professionals” don’t mean much.

So we created a concept which completely removes any “cherry-picking” of clients for references!

If you’re serious about becoming a client of Redrock Wealth Management, LLC and would like some references, simply give us three random letters. We’ll search our client database and find three clients with last names starting with (or as close as possible to) the letters you give us. This prevents us from cherry-picking client references, and it shows just how confident we are that we’ll have 100% positive references.

Absolutely not. We will not take possession of cash or securities in any form for any time frame. However, we will provide you postage paid envelopes to forward checks and/or securities directly to TD Ameritrade, and we will of course provide you detailed instructions on the safest manner for funding your accounts.

TD Ameritrade is a member of the Securities Investor Protection Corporation (SIPC), so the assets you have custodied are insured by SIPC up to $500,000 for each separate account including up to $100,000 in cash.

Such insurance DOES NOT protect your investment principal from market fluctuation or volatility; however, it does provide an amount of protection in the event of your custodian going out of business.

Firm fees are not only competitive, they’re a great value for the services provided. We’ve been told by many clients who have interviewed several financial advisors that our fees are at the worst “competitive” with other financial advisors – and at the best 30% to 50% less!

We’re happy to provide you an apple to apples comparison of the fees you’re paying (or the proposed fees you’ll pay another financial advisor) and our fees. Our fees are simple to understand and reasonable. Most importantly, we believe in FULL DISCLOSURE – so we never hide or bury our fees like other brokers or “financial advisors” who are commission or “fee-based” (not Fee-Only!).

We do not have a minimum portfolio size per se. Rather we have a minimum quarterly fee. Generally at portfolio sizes of $250,000 and up that fee becomes highly competitive (even inexpensive) when compared to other financial planning and investment management providers. It also ensures we can continue to provide each and every client of Redrock Wealth Management, LLC the same high standard of excellence in financial advice, personal service, attention to detail and overall quality relationship.

They’re all professional credentials with the definition and a short summary listed here:

1. CFP ® – CERTIFIED FINANCIAL PLANNER ™ – This designation is achieved through the CERTIFIED FINANCIAL PLANNER ™ Board of Standards and requires two years of coursework study in financial planning and related financial areas, as well as a comprehensive two day test and agreement to an oath of ethics

2. CLU ® – Chartered Life Underwriter ® – This designation is achieved through the American College and requires a total of 8 courses of study primarily in estate and insurance planning, as well as comprehensive testing and agreement to an oath of ethics

3. AIF ® – Accredited Investment Fiduciary ® – This designation is achieved through the fi360, the Center for Global Fiduciary Insights, and requires extensive coursework, self-study and comprehensive fiduciary-based testing

4. AAMS ® – Accredited Asset Management Specialist – This designation is achieved through the College for Financial Planning and requires a specific course and comprehensive testing in the area of investment management

Yes. As part of the financial and investment planning process, our team will help ensure your investment assets, both work related retirement plans and those separately held at the directed custodian, will work in concert together. This is even if we don’t directly manage your external accounts.

Yes, you can verify my membership in the Paladin Registry by clicking here.

Learn about our financial advisor and investment management fees by contacting us directly for a free consultation.