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What You Should Know Before Working With Lanning Financial (FAQs)

Before someone partners with me, they usually want to know what I do, how I do it, and what it’s like to work together. Here are honest answers to the questions that come up most often.
How do I know it’s the right time to work with a financial planner?

When online research leaves you feeling more confused than clear, when you’re second-guessing whether you’re making the right financial moves, when you start to wonder whether the diversification-buy-and-hold philosophy isn’t enough, or when your intuition tells you to get a second opinion.

Most of my clients reach out to me for the first time because they experience:

Complexity: People in their 40s and 50s who have saved diligently start to feel uncertain as retirement or kids’ college expenses get closer. Lives are more complex. Moving from working and saving to not working and spending can be terrifying. The reality of paying for college, becoming empty nesters, and helping aging parents is bittersweet, not to mention expensive.

Career and income changes: Professionals who are making more money than ever before may feel pressure not to mess it up. Many didn’t receive much financial education growing up and don’t want to repeat past mistakes.

Unexpected Life Changes: Perhaps you have become disabled or sense you can quit working sooner than expected. Or maybe your financial planner stopped working, and the new planner is not a good match. You may also have a strong desire not to continue on one’s own or want a second opinion.

Choosing a financial planner, especially for the first time, is a big decision. Not something anyone should rush into. For that reason, the process for becoming a Lanning Financial client is purposely calm and thoughtful.

To get started, please complete this questionnaire so we can get a sense if we are potentially a good fit for working together. Our office will then be in contact with you to set up a no-cost, one-hour introductory call. By the end of that call, we will both decide if it makes sense for us to continue talking or if we should find you another resource.

If you choose to move forward with me, we will talk about the next steps.

My investment philosophy is simple: Start early, stay flexible, and minimize risks where possible.

Financial planning doesn’t mean chasing the highest returns. We want to make sure your money works for you without putting your future in jeopardy.

  • Purpose-driven investing: Your investments should have a clear reason behind them. Whether it’s retirement savings, college funds, or building wealth, we start by figuring out what this money needs to do for you.
  • Minimizing taxes: We look for ways to reduce your tax burden, from tax-free retirement income to strategic withdrawals.
  • Flexibility and adaptability: Life doesn’t follow a script. Plans need room to adapt without causing unnecessary stress or losses.
  • Diversification without the overwhelm: No one should be locked into a single philosophy or approach. We build a balanced strategy that spreads risk without overcomplicating things.

We are fee-based and charge a percentage of assets for ongoing planning and advice (for example, 1% of assets). Clients also pay for money management (for example, 0.5%).  Most clients pay around 1.5% or less all-in.  These fees are fully disclosed, transparent, and show up on every quarterly statement.  No surprises.  There is also an onboarding and planning fee, typically between $3,599 and $6,000, depending on the complexity of your situation.

For more details, you can view our Services and Costs matrix.

We make no commissions on investments. We may recommend products that pay a commission to us or someone else, but we disclose all of our compensation before you purchase anything so you can determine the value.

As a side note, “commission” has become a bad word in the financial planning industry, but you should not be afraid of it. We only suggest these products for you because we believe they are in your best interests, and our vendors won’t provide them without paying commission (we’ve asked). We believe it would be irresponsible not to recommend commissionable products simply because of their commissionable nature.

For example, we will likely have a conversation with you about disability insurance, long-term care insurance, or life insurance. Those are commissionable products. Perhaps counterintuitively, they save you money. When you work with us, we will explain it to you so that you understand what you’re buying and what you’re paying.

You may have read on the internet about not needing to pay a professional to manage your money, and I don’t disagree with this. You can choose index funds or follow your favorite internet advisor’s advice and potentially do fine.

From my experience, however, how clients are invested is not in alignment with who they are, and this leads to much discontent among investors who do not get professional advice. Also, many people just don’t want to spend their weekends doing this.

My clients work with me because they want a “family CFO(Chief Financial Officer).” These are smart people who are very good at what they do professionally and care deeply about their families and their financial well-being. They want someone to keep an eye on the ball, make sure their money is managed well, and make sure they are paying attention to all those things that preserve their financial well-being. They want someone who will give them quarterly updates and will meet with them at least once a year to review their planning.

They are not paying just to have their money managed. My clients are paying to have a relationship with someone who will care as much about their financial well-being as they do and assist them in reaching their goals. I don’t believe any planner can make a decision about how to invest your money without knowing who you are and what you want that money to do, and that requires putting a plan together that dictates what that money needs to do.

I have been providing advice to people about their money since 1997, and I have served hundreds of clients. My business has moved toward building deeper relationships over longer periods of time.

I deliberately keep my practice small, serving no more than 70 households. That’s the sweet spot where I can be fully present, stay responsive, and think with my clients, not just for them. You’re never just a name in a database here.

Yes. I rarely take clients with less than $ 2 M+ in investible assets that can be placed on my wealth management platform, which usually excludes real estate. I will make exceptions on a case-by-case basis, typically for those who are younger or will be approaching $2M or more in the near future.

I also make exceptions for households with 10+ investment property units, who tend to be “real estate rich and cash poor.” I have expertise in real estate, enjoy working with them, and understand that these clients may not be “classic” clients in a financial planning firm sense.

I don’t do budgeting, bailouts, or bad attitudes. Here’s what I mean by that.

  • Budgeting: I can tell you how much you need to save to meet a financial goal (retirement, education, etc.), but you have to figure out where that money will come from. I am not going to tell you how much to spend at Macy’s, for example. If that is what you need, I am happy to refer you to a financial counselor who specializes in helping people create and stay accountable to a spending plan. It’s a different skill set, and those folks are great at it.
  • Bailouts: If you chronically rack up credit card debt, have debt that is overwhelming your budget, or own property that is “underwater,” I am not your planner. You need someone who can help you get your head above water. I can refer you to another professional who I think will be best able to help you.
  • Bad attitudes: First, I like working with nice people who treat people decently and use good manners. Second, even if you are nice, but you think the world is coming to an end and you should be investing in gold bullion, I am not your planner. I would instead tell you to buy canned goods. That way, if the world does come to an end, you can at least eat.
Clear, consistent communication is a big part of how I work. You’ll receive quarterly updates and regular performance reports. We’ll also schedule annual reviews to make sure your financial plan stays aligned with your goals. I’m always available to clients to discuss any questions or changes in your situation.

Life is full of unexpected changes, and your financial plan should be flexible enough to adapt. Whether it’s a new job, a change in family dynamics, or a major purchase, we’ll adjust your strategy as needed to keep you on track. I’m here to reassess and recalibrate as your life evolves.

Taxes. A lot of people think about minimizing taxes in the current year, but they don’t consider how today’s decisions will affect their tax situation going forward.

For example, putting everything into tax-deferred accounts like 401(k)s and IRAs might feel like a smart move now, but it can lead to hefty tax bills later when you’re required to take distributions. Finding a balance between tax-deferred, tax-free, and taxable accounts is essential to building a sustainable financial plan that doesn’t catch you off guard down the road.

Yes and we expect to. My whole business model is about coordinating the financial lives of a small number of successful individuals and families. This includes a wide range of professionals to ensure your needs are met.

As a Certified Financial Planner (CFP®) and a fiduciary, I’m legally and morally obligated to put your interests first. That means the advice I give is always focused on what’s best for you, not what might make me more money or be easiest to implement.

Yes, I help business executives navigate complex compensation packages, including stock options, RSUs, and deferred compensation plans. We’ll develop a strategy that maximizes the value of your compensation while considering tax implications and long-term planning.

Absolutely. Whether you want to establish a donor-advised fund, plan charitable giving, or pass on wealth to the next generation, I can help you create a strategy that aligns with your values and goals.

Because I am regulated by California and Utah, which have not adopted the SEC’s guidance permitting client reviews, I’ve been advised not to request or display reviews from clients online. However, references are available upon request, and I’m happy to connect you directly with clients who can share their experiences working with me.

5 Smart Questions to Ask Any Financial Advisor (Including Me)

If you’re in research mode and want to make a smart decision, this quick guide walks you through the five most important questions to ask before working with a financial advisor. Use it to spot red flags, find real alignment, and feel confident about who’s guiding your money.

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Still Got Questions? Let’s Talk It Out.

If your gut’s telling you it’s time to get real about your money, let’s make it happen. Book a 15-minute meeting to get answers to your biggest money questions.