What is a fiduciary?

What is a fiduciary?

Posted: March 2nd, 2017 | Author: | Filed under: |

A fiduciary is a person or entity that holds a legal or ethical relationship of trust. In the profession of financial advice, a fiduciary is one solely acting in the interest of a client.

A proper fiduciary avoids conflicts of interest. They also disclose all facts material to the relationship. If a potential conflict may interfere with a professional’s fiduciary duty to a client, the relationship should not be entered into. The professional relationship between a client and a fiduciary means:

  • The client always knows exactly how the fiduciary is compensated
  • The fiduciary will owe their first and foremost loyalty to their client
  • The fiduciary commits to act with diligence and without bias
  • The fiduciary will always act with honesty, integrity, and professionalism
  • The fiduciary will only charge fees for their services (and not commissions), and will only charge amounts that are reasonable for the services being provided

In the United States, the largest organization of fee-only, fiduciary-only financial advisors is known as the National Association of Personal Financial Advisors (NAPFA), of which Callahan Financial Planning Company is a member.

Callahan Financial Planning Company and its employees have signed and are held to fiduciary oaths, in addition to their ethical oaths made as professional certificants of the CFP Board, the CFA Institute, as members of NAPFA, and under fiduciary securities laws in the state of Nebraska and the United States.

 


How are fee-only financial planners different?

Posted: October 18th, 2016 | Author: | Filed under: |

We do not earn commissions or receive other forms of payment that may create conflicts of interest.

Our clients generally pay for our services as part of an ongoing relationship at a preset annual rate, but in certain circumstances we perform limited scope one time engagements for a fixed fee, depending on the type of questions/advice sought. We do not receive any other forms of compensation. You will be provided a full quote prior to beginning any work with us.

To request a quote for your situation, please go to our Get Started page.


What costs can I expect working with a financial planner?

Posted: October 10th, 2013 | Author: | Filed under: |

We generally work with our clients in an open-ended relationship, and not one-time-only engagements. A typical client begins by paying a flat fee for an initial analysis and review of your current situation by a Certified Financial Planner™ professional, and then a single annual rate thereafter.

This is based on our long-term observations about general behavior: clients who receive continuous counsel are more likely to identify regular tax planning opportunities, keep their estate plan current, keep their investment portfolio managed closely to their risk and return targets, keep cash levels in the most optimal banking arrangement and closer to their target balance, and more.

We want the best outcomes for our clients, and working with clients in an ongoing relationship generally makes for better outcomes. Our clients are under no long-term contracts while working with us.

 


How can I get in touch if I have questions?

Posted: September 27th, 2013 | Author: | Filed under: |

It’s easy! Choose your method of choice:

  • By Phone (Omaha): (402) 341-2000
  • By Phone (Lincoln): (402) 474-1200
  • By Phone (Toll-Free): (800) 991-5195
  • By Email
  • In Person: Get Directions

Hours of Operation
Mon – Fri: 9:00am – 5:00pm
Sat: By Appointment


Who is on the financial planning team?

Posted: September 27th, 2013 | Author: | Filed under: |

William A. Callahan, CFA, CFP®
President and Chief Investment Officer
CERTIFIED FINANCIAL PLANNER™ Practitioner
Chartered Financial Analyst Charterholder

Mr. Callahan founded the firm in 2010. Leading with a strict philosophy of putting client interests first, Callahan Financial Planning Company’s entire team holds a legal and moral fiduciary obligation to their clients. As the President, Mr. Callahan is responsible for reviewing all significant financial planning and portfolio decisions for our clients. Mr. Callahan also works directly with clients to deliver specialized financial planning recommendations and investment advice. He is a Chartered Financial Analyst (CFA®) charterholder and Certified Financial Planner™ (CFP®) practitioner.

From Omaha, NE, Mr. Callahan previously served as a financial advisor at local commercial banks. He received a BSBA with concentrations in Finance, Banking and Financial Markets, Investment Science and Portfolio Management at the University of Nebraska Omaha, his Master of Business Administration (MBA) and Master of Investment Management and Financial Analysis (MIMFA) both at Creighton University, and completed the Certified Financial Planner™ practitioner education requirements at New York University. Mr. Callahan is a member of the Chartered Financial Analyst Society of Nebraska and past President of the Financial Planning Association of Nebraska.

Reuben J. Brauer, CFP®
Senior Financial Planner
CERTIFIED FINANCIAL PLANNER™ Practitioner

Mr. Brauer has been with the firm since our opening in 2010. He works closely with clients and other staff to analyze, develop and implement financial plan and investment recommendations. Mr. Brauer is also part of our firm’s investment management, research, and decision-making process.

From Omaha, NE, Mr. Brauer received a BSBA from the University of Nebraska Omaha with a concentration in Finance. His previous experience includes securities analysis and client relations at a local registered investment advisor and a regional commercial bank. Mr. Brauer completed his Certified Financial Planner™ professional education at the College for Financial Planning. Mr. Brauer is a member of the Financial Planning Association of Nebraska.

Allison N. Cerven, CFP®
Financial Planner
CERTIFIED FINANCIAL PLANNER™ Practitioner

Mrs. Cerven joined our firm in 2013 after completing a BS in Family Finance, Housing, and Policy at Iowa State University. Her academics were the pursuit of improving the quality of financial planning for individuals and families. She is an active and integral contributor to our financial planning process.

From Stanton, IA, Mrs. Cerven earned her graduate Certified Financial Planner™ professional education at Iowa State University. Allison is a member of the Financial Therapy Association.

 


Are you a division or branch of another company?

Posted: September 27th, 2013 | Author: | Filed under: |

No, Callahan Financial Planning Company is an independent, Omaha-based Company that provides a unique form of conflict-free financial planning. This independence is important because:

  • Large American banks and brokerages have products for sale, and the job of their financial advisors is to distribute these. They may offer ancillary financial advice along with their product sales, but it is important to note their underlying position: selling you a product.
  • Typically brokerages, insurance companies and mutual funds have what’s known as a “revenue sharing” arrangement in place. This money has to come from somewhere, and unfortunately it’s directly from your investments.

Our business model is distinctly different: we are only compensated by our clients. This is the only way to ensure true and appropriate recommendations can be made, and to ensure you don’t pay these extra costs. You’ll never have to second guess advice again.


Where are you located?

Posted: September 27th, 2013 | Author: | Filed under: |

Our offices are located in Omaha, Nebraska – at Midtown Crossing at Turner Park. Adjacent to the development are the headquarters of Mutual of Omaha, Berkshire Hathaway, and Kiewit.

We are also one mile from downtown Omaha. We’re located just west of I-480 (Harney Street / Dodge Street Exit) near Farnam and 31st streets.

3157 Farnam Street Suite 7111, Omaha, NE 68131
Contact Us | View Map and Directions