Traditional Financial Planning

planningSince November 13, 2014, I have been affiliated with Michael G. Donahoe, MBA, CFP®, and his firm Harvest Asset Group, LLC • 50 Portland Pier, Suite 300, • Portland, ME 04101. Please see our website at http://harvestassetgroup.com. All of the financial planning, investment advisory, and retirement income planning services I have offered since becoming a Certified Financial Planner™ (CFP®), I now offer exclusively through Harvest Asset Group, LLC. I may be contacted at my office there via email at kohler@harvestassetgroup.com or by telephone at 207-838-3300.

Much of our work at Harvest is helping clients answer questions such as, “Is my retirement on track?” or “Do we have enough to retire?” Sometimes the client says “I have a stock broker, an accountant, an insurance agent, and a lawyer, and I still don’t have a clue how my retirement will work!” In almost all cases, helping clients answer those questions involves looking at goals, values, cash flow, investments, insurance, and often estate planning issues. For the “best” answers to emerge from the process, understanding the context in which those questions arise is essential.

Our practice at Harvest Asset Group is distinguished by two key characteristics:

  • It is committed to a fiduciary standard in all aspects of the practice. Financial advisors are held to one of two legal standards: suitability or fiduciary. At Harvest, we have chosen to be bound by the fiduciary standard established by the Investment Advisers Act of 1940. This requires us to put our client’s interests above their own. It consists of a duty of loyalty and care, and means that the advisor must act in the best interest of his or her client. Many financial advisors only have to fulfill a suitability obligation, which is defined as making recommendations that are consistent with the best interests of the customer. Instead of having to place the clients’ interests above that of the advisor, the suitability standard only mandates the advisor must reasonably believe that any recommendations made are suitable for clients, in terms of the client’s financial needs, objectives and unique circumstances.
  • It is a 100% Fee-Only compensation-based practice. This means no products are sold, and no commissions or compensation are received from third parties. All fees are fully disclosed and discussed in advance of an engagement. Mr. Donahoe is a member of NAPFA (National Association of Personal Financial Advisors), and the entire firm is committed to those principles of client-centered, comprehensive financial planning. NAPFA-Registered Financial Advisors maintain the highest standards of proficiency in the industry.