FAQs
Overview
Working With Axial
Financial planning can bring up many questions, especially when you are preparing for retirement, building wealth, or navigating an important life change. Below, we have answered some of the questions individuals and families commonly ask when considering their financial future and working with an advisor.
How is my money protected?
Securities in accounts carried by National Financial Services LLC, Member NYSE/SIPC, a Fidelity Investments company, are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000 (including cash claims limited to $100,000). For details, please see www.sipc.org. NFS has arranged for additional insurance protection for cash and securities to supplement its SIPC coverage.This additional protection covers total account net equity in excess of the $500,000/$100,000 coverage provided by SIPC. Neither coverage protects against a decline in the market value of securities.
How do I know if I need a financial advisor?
You may benefit from working with a financial advisor if your finances are becoming more complex, you are approaching an important life transition, or you want greater clarity about whether you are on track to meet your goals. An advisor can help you organize your financial picture, evaluate your options, and develop a plan that connects your investments, retirement, taxes, insurance, estate considerations, and other priorities.
How do I know if I am financially prepared to retire?
Retirement readiness involves more than reaching a particular savings amount. Your anticipated expenses, retirement income, Social Security benefits, healthcare costs, taxes, investments, debt, and desired lifestyle should all be considered. A comprehensive financial plan can help you evaluate how these factors work together and compare different retirement dates or spending scenarios.
How much money do I need to retire comfortably?
The amount needed for retirement is different for everyone. It depends on your lifestyle, anticipated expenses, retirement age, income sources, healthcare needs, longevity, and the legacy you may want to leave. Rather than relying on a general rule, a personalized retirement plan can help estimate what you may need based on your specific circumstances and goals.
When should I begin taking Social Security?
The appropriate time to claim Social Security depends on factors such as your age, health, life expectancy, marital status, other retirement income, and overall financial plan. Beginning benefits earlier generally results in a lower monthly payment, while delaying benefits may increase the amount you receive. Evaluating multiple claiming strategies can help you determine which approach may best fit your needs.
Should I pay off my mortgage before retiring?
Paying off a mortgage before retirement may reduce monthly expenses and provide peace of mind, but it is not always the best financial decision for everyone. Your mortgage rate, available cash, tax situation, investment strategy, and other retirement income needs should be considered before using a significant portion of your savings to eliminate the loan.
What financial steps should I take after losing a spouse?
After losing a spouse, it can help to begin by gathering important financial documents, notifying the appropriate institutions, reviewing household cash flow, and understanding how income and benefits may change. Insurance proceeds, Social Security benefits, investment accounts, estate documents, taxes, and beneficiary designations may also require attention. A financial advisor can help you organize these decisions and coordinate with your attorney and accountant while allowing you to move at a comfortable pace.
Should I work with a financial advisor during or after a divorce?
A financial advisor can help you understand the short- and long-term financial implications of decisions made during a divorce. This may include evaluating assets, retirement accounts, cash flow, taxes, insurance, housing decisions, and future financial goals. Financial advisors do not replace divorce attorneys, but they can work alongside legal and tax professionals to help you better understand your options.
What should I do after receiving an inheritance?
Before making significant decisions, take time to understand exactly what you have inherited and whether any deadlines or tax considerations apply. An inheritance may include cash, investments, property, or retirement accounts, each of which can have different requirements. A financial advisor can help you evaluate how the inheritance may be used to support your goals, such as investing, reducing debt, preparing for retirement, supporting family members, or giving to charity.
What should I consider before selling my business?
Before selling a business, consider how the sale may affect your personal finances, retirement, taxes, estate plan, family, and future income. It is also important to understand the value of the business, the potential structure and timing of the sale, and how the proceeds may be managed afterward. Early coordination among your financial advisor, accountant, attorney, and valuation or transaction professionals can help you prepare for the transition.
How should high-earning couples prioritize their financial goals?
High-earning couples often have several competing priorities, including retirement savings, investments, taxes, student loans, purchasing a home, raising children, and maintaining an emergency fund. The first step is to define which goals are most important and when each one needs to be funded. A financial plan can help couples understand their cash flow, establish an appropriate order of priorities, and use their income more intentionally.
How can I balance saving for college with saving for retirement?
College and retirement should be considered together, but your own long-term financial security generally remains an important priority. Families can evaluate their available cash flow, retirement contributions, existing college savings, financial-aid opportunities, and the amount they reasonably expect to contribute toward education. A coordinated plan can help establish realistic expectations without allowing one goal to overshadow the other.
How can parents introduce their adult children to a financial advisor?
Begin with an open conversation about why financial planning has been valuable to your family. With your permission, an introductory meeting can give adult children an opportunity to meet the advisor, ask questions, and learn more about the family’s broader financial picture. They do not need to disclose all of their personal information or become clients immediately, the goal is to begin building familiarity, financial confidence, and a trusted connection.
What financial planning and wealth management services does Axial Financial Group provide?
Axial Financial Group helps individuals, families, retirees, professionals, and business owners address a wide range of financial needs. Depending on each client’s circumstances, this may include financial planning, retirement planning, investment management, education planning, insurance analysis, estate-planning considerations, charitable giving, business-owner planning, and guidance through major life transitions.
What can I expect during my first meeting with Axial?
Your first meeting is an opportunity for us to learn about you, your priorities, and the financial questions that brought you to Axial. We may discuss your family, career, assets, income, concerns, and short- and long-term goals. It is also an opportunity for you to learn about our approach, ask questions, and determine whether working together feels like the right fit.
How does Axial create a financial plan?
The planning process begins with understanding your current financial picture, personal priorities, and future goals. From there, your advisor can evaluate areas such as cash flow, investments, retirement, taxes, insurance, education funding, and estate considerations. Because life and financial circumstances change, the plan can be reviewed and adjusted over time to remain aligned with your evolving needs.
Does Axial work with multiple generations of the same family?
Yes, Axial works with individuals and families across different generations and stages of life. This may include helping parents prepare for retirement, guiding adult children as they begin building wealth, supporting aging family members, or facilitating conversations about estate planning and the transfer of family wealth. Working with multiple generations can help create greater communication and continuity while respecting each person’s privacy and individual goals.
Where is your office located?
We have offices in Burlington, MA, Hyannis, MA, and Lynnfield, MA. Please click on the office nearest you for contact information and directions.
Who is your Broker Dealer?
All investment professionals must be affiliated with a Broker Dealer. Our independent Broker Dealer is Commonwealth Financial Network®. Read more about what this means to you.
How often will I receive account statements?
Active accounts will receive statements monthly. Accounts with no activity will receive statements quarterly.
Am I able to receive my statements electronically?
Yes, you may receive account statements or tax documents electronically or view them on to Investor360°. Please contact our office for more information.
Is it possible to suppress confirmations on trades or activity in my account so I will receive less mail?
Unfortunately, industry and Broker Dealer regulations do not currently allow us to suppress confirmations, but you may receive them electronically or log on to Investor360°.
What are your office hours?
We will have a member of our firm available to answer phone calls Monday through Thursday from 8:30 A.M.-5:00 P.M. ET and Friday 8:30 A.M.-4:00 P.M. ET.
When I send you a check, to whom should it be made payable?
If depositing into an account held with Axial, please make all checks payable to “National Financial Services.”
Contact Us Today
We’d be happy to set up a free consultation with one of our trusted advisors to discuss your financial future.