Frequently Asked Questions

Frequently Asked Questions

What is “The Purpose of Wealth?”
The Purpose of Wealth is our discovery, planning, and implementation process. Each client has ambitions for how they would like to live their life. We help our clients to verbalize that idea by understanding what processes they have put in place, what’s working now, previous setbacks, plans for the future, and potential long-term obligations. The Purpose of Wealth is timeline-based and as the time horizon for each of your objectives draws closer, we update the planning and strategies for objectives.

How do I get started?
Our initial meeting is for our mutual benefit. It allows you an opportunity to learn more about us and our strategies and it gives us an opportunity to learn more about where you are today and your expectations a few years from today and expectations long-term. We will discuss your current planning, investments, insurance, tax sensitivity, and legal planning needs. New clients should bring statements and documentation for these topics to aid in the discussion. After the initial meeting we’ll retain the information for further review and communicate to you exactly how we can help you.

Do you use proprietary products?
No. As an independent financial planning firm we are able to select investments, research, and other financial instruments from a broad range of approved products through our broker-dealer to meet our clients’ needs. We are not owned in part or whole by a brokerage firm, insurance company, mutual fund company, or other type of parent organization. The solutions we create for our clients can be comprised of investments and other products from a variety of companies, tailored to the individual client’s need.

Most of my money is in my 401(k)/ business/a restricted or single position. Can you still advise me?
Yes. We have the capacity to help you manage your 401(k) or other employer-sponsored savings programs. If you are facing the challenges of a restricted or concentrated position, we can help you implement strategies that enable you to participate in a diversified portfolio.

I’m concerned about the political and economic landscape. How do we plan for changes?
We follow political and economic developments and track their trends. Most often the planning we will have put in place for the next 5 years won’t be affected by these types of changes due to defensive and strategic positioning of assets. Longer term plans need to reviewed as changes work their way through the system. Together we can reduce the uncertainty of the future by visiting with your tax and legal advisors. Staying current on the changes and any affect they have on the planning we have implemented is paramount to our success.

How often will we meet or receive updates?
As we lay the foundation over the first two years working together, we meet with most of our clients 5-8 times a year. After establishing your plan and implementation has begun, the individual client’s needs and comfort level dictate the frequency we meet for updates. Typical meeting cycles are monthly, bi-monthly, or quarterly.

How are you compensated?
We are a fee-based financial planning firm. Our fees are generated typically from: a portfolio management fee, an annual financial planning retainer, or billed hourly. The needs of the client and level of service will determine which method and the amount of our fees. The fee is quoted after the discovery and document review of the initial meeting.

Answers to Your Questions

Here's a sample of answers to questions that we are often asked about our services and financial planning. If you can't find the answer to your question here, please contact us.

Services

At Laney Financial, we offer a broad range of financial services to assist you in determining your options and finding the purpose of your wealth.

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About Us

Learn more about Laney Financial, who we are, what we do and why we do it.

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Careers

Learn more about career opportunities with Laney Financial. We’re interested in your success.

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R. Lee Laney is a Registered Principal and an Investment Advisor Representatives of and offer securities and advisory services through WRP Investments, Inc., member FINRA & SIPC. Laney Financial is not affiliated with WRP Investments, Inc. Securities activities and advisory services are supervised by WRP Investments, Inc. at 4407 Belmont Avenue, Youngstown, OH 44505 (330) 759-2023. Securities are offered in the following states: OH, KY, IN, PA, TX.