The financial planning planet is currently driven by products, commissions, and transactions. Financial Gravity, however, operates in an entirely different universe. Instead of selling products like most financial advisors, we are “product agnostic” –meaning we let the Tax Code determine the best product for you. If you don’t want the product. Fine! We will present the next option. By centering all of our financial advice around the tax code, we remove any chance that you’ll ever receive biased advice. Financial advisors can’t give nonbiased financial advice because they are either product-centric, strategy-centric, or transaction-centric. Bottom line: 99% of Financial advisors are trying to sell you something.
For example, I bet you weren’t aware that your 401k is the most expensive retirement plan you can implement. 401k users may be paying as much as 4% towards hidden fees covering everything from marketing expenses to transaction costs. YUCK. There are retirement plans, however, without Third Party Administrators, without confiscatory fees, and without discrimination rules. These plans have the ability to defer hundreds of thousands of dollars. Some even “self-complete” like a pension, meaning if you die your spouse is entitled to the benefit. If you want to maintain or increase your lifestyle upon retirement, then you need to hire someone who can help you avoid the conventional 401k, 403b, 457, SEP, SIMPLE, IRA in favor of a retirement plan that supports your unique vision of retirement
Maybe you’re thinking, well what about my accountant? They have my best interest in mind, don’t they?
Not so fast. Accountants can’t give financial advice because they aren’t trained to help entrepreneurs and small business owners lower their personal income taxes and then give them numbers to help them run their business. Bottom line: The CPA exam has nothing to do with tax planning. See for yourself here. And furthermore, accountants don’t really care if a tax strategy saves you money. If it creates more work for them, they will likely advise you against it (and may even tell you that it will create a red flag and increase your chances of being audited.)
The tax code has over 70,000 pages of green lights for you to use, so use them!
Financial Gravity is creating a tax-centric universe that is moral, legal and ethical, and not driven by products, commissions, and transactions. We want entrepreneurs, high net worth individuals and small business owners to pay the least amount of taxes required by law (which will then allow them to pump more money back into their business and into the economy.)