PFS FAQs

Browse through some of our most frequently asked questions about certified public accounting and wealth management services. Don't see a question that you have? Contact us today.

Why should I engage Grigg Financial Group? What sets you apart from other CPA and Wealth Management Firms?

GFG improves your wealth and plans for your desired retirement while reducing your taxes. We have in-depth tax reduction and wealth accumulation experience.

How do the CPAs at GFG reduce the burden of tax?

  • Capturing as many tax deductions as possible
  • Creating tax deductions that also increase wealth
  • Educating and teaching priorities of tax planning schemes in furtherance of your goals
  • Guiding business owners in taking the necessary steps to reduce taxes and improve accounting procedures

How does GFG reduce the hassle of wealth management?

  • Removing the need to engage multiple advisors by being a one-stop-shop
  • Engaging you via well-developed tax planning and financial planning programs.

What wealth management services do you offer?

We offer a full menu of traditional CPA services in addition to comprehensive wealth management services. These services include:

  • investment management
  • retirement planning
  • business planning
  • legacy planning
  • special situation planning
  • cash flow and debt management
  • education planning
  • risk management

What are the programs you offer to improve a client's wealth and taxes?

We use refined internally created tax and wealth "programs" to deliver consistent value. Our three main programs are:

  • Tax Focused Planning: primarily focused on tax saving techniques and gently discussing the 8 Wealth Management issues.
  • Advanced Comprehensive Planning: all of the 8 Wealth Management Issues are discussed. After an initial assessment, two of the 8 Wealth Management Issues are discussed every 6 months.
  • Premium Comprehensive Planning: in addition to what’s included in the Advanced Planning Program, clients will be allotted more time to conduct planning, have first priority over all other engagements, and access is given to our CPAs all 7 days of the week.
  • Ala carte planning: we have many topics in which we can consult you to include but not limited to stock options, rental ownership best practices, which employer retirement plan is the best for you to implement, business best practices, accounting best practice, salary planning, should you form a corporation or an LLC, etc.

How often will we meet?

That depends on how you engage Grigg Financial Group.

If you engage us for investment management then we may meet quarterly, semi-annually, or annually depending on the magnitude of assets managed.

If you engage us for planning only, we will meet twice to four times a year depending on the planning program you choose.

What is covered during the planning meetings?

That will depend on the goals you want to accomplish and the program you choose. This can be tax projections, market updates, tax law updates, and addressing any of the 8 Wealth Management Issues.

Do you conduct planning meetings for businesses or only for individuals?

We conduct planning for both businesses and individuals. We meet with business owners routinely where we discuss their financial statements, payroll planning, conduct pension planning, etc.

What is the minimum amount you invest?

$5,000

What investment positions do you use?

We use stocks, bonds, ETFs, mutual funds, special Separately Managed Accounts (SMA), alternative investments (REITS, non-traded REITs, and non-traded private companies).

How do you invest client assets?

We invest based on the client’s goals and rebalance periodically. We plan for income, growth, and protection.

Are you fee only, fee-based, or commission only?

Grigg Financial Group is fee-based. Most of our compensation is by advisory fees so we succeed when you succeed. We may be paid a commission for annuities, life insurance, or alternative investments.

How do you remove the possible conflict of interest of being paid a commission for using products?

We educate you on the technique. You are free to use someone else to execute the technique. If we have earned your trust, and you use us to execute the technique, we may be paid a commission. Further, any and all applicable conflicts of interest will be disclosed as required in our industry.

What are your investment advisory fees?

1% up to the first $1mil of assets and then it decreases after $1mil.

If you engage us for planning, we may charge an additional .5% so your investment fees pay for the planning services instead of paying a separate fee.

Does your investment advisory fee include planning?

If the magnitude of assets managed is high enough, the asset management fee may include planning. We traditionally add .5% to the investment management fee for planning.

Will I have access to my investment portfolio?

Yes. You will be invited to your investment account via eMoney. This is a sophisticated software suite that is on the internet for you to access at any time.

Do you offer discounts if engaged for planning or for bundled services?

Yes. Depending on the extent of planning or other services engaged, we may offer discounts on additional services.

How do you engage your clients?

We are a paperless office and typically work remotely. We meet clients via video conferencing but we offer in-person meetings by appointment only. We ask clients to pay us quarterly as a retainer. Clients are provided a quote and the quote is stated as payable in quarterly installments.

We exchange documentation via either our tax portal or wealth management portal.

What do you mean the fees are paid quarterly?

All traditional CPA services are rendered only after a retainer has been paid. The entire fee must be paid before we begin our work.

If we are engaged to file a return for the current year, you will be asked to pay the entire quote before beginning.

Then, for ongoing services, you will be asked to pay the quote in quarterly installments in perpetuity. The quarterly installment begins the quarter after engaging us. If you engage us later in the year, you may be asked to pay 50% of the quote as a deposit and then start quarterly installments beginning with the next quarter.

If you stop paying the quarterly fee, we will assume you have disengaged Grigg Financial Group and we will refund any unearned fees.

How do I know which wealth advisor is best for me?

Call and interview them. You should ask questions about experience and methods. The advisor you choose should have technical knowledge and treat you with respect. Does the advisor take time to listen to you or return your calls in a timely manner? Do you feel comfortable asking your advisor a question and do you feel comfortable working with them? 

Do you have specialties?

Yes. Brian Grigg, CPA/PFS specializes in small business and high net worth individuals. Brian has the series 7 and 66 licenses (held with LPL Financial) and the PFS credential so he works with his clients to improve their wealth and reduce taxes.

What is a PFS?

This is a Personal Financial Specialist as designated by the American Institute of CPAs. This is a special designation for those CPAs who meet certain qualifications and who help clients improve their wealth.

Should I consult a professional if I am starting a new business?

Yes. You should seek guidance specific to your situation before starting any business. It is easy to start a business on the wrong foot and incur thousands of unnecessary expenses and unwanted taxation. We are available to discuss business formation options, taxation of those options, and any impact they will have on the owners.

Do you offer virtual meetings in addition to in-person meetings?

Yes. We have clients around the world so we routinely conduct virtual meetings. Most clients prefer virtual meetings so we have decided to offer in-person office visits by appointment only.

How do we exchange documentation?

We offer a secure portal to exchange documents.

Are you paperless?

Yes. We are paperless and prefer all documents to be provided electronically in excel, word, or PDF. If you mail or drop-off paper documents, there is an administrative charge for document scanning. All documents received will be returned to you.

Our secure portal has an app in the Google and Apple store and that app has a scanning system that uses your phone’s camera. Upon taking a picture with the app open, it will upload directly to your account.

Will your information be kept confidential?

Yes. We maintain strict confidentiality in accordance with the rules and regulations of the IRS, AICPA, California Board of Accountancy, FINRA, and the SEC.

Do you provide a year-round service?

Yes. We are here all 12 months.

How many years of experience does the firm have?

The team has more than 14 years of professional experience.

What type of clients are you looking for?

We are looking for clients who want professional help improving their wealth by limiting taxes, increasing assets, planning for retirement, maintaining a comfortable life in retirement, and/or accomplishing other goals important to them.

Will you work with our bookkeeper or internal accounting staff? 

We work with your team to help you. We routinely conduct specific quality control procedures in a consultative manner to help you. We then communicate findings to the accounting crew or management. 

Who will I work with at Grigg Financial Group?

Most document gathering and delivery is conducted by staff. Consultations and decisions are made with Brian Grigg, CPA/PFS.

Do you outsource work overseas?

No, we do not.

How long should I keep my financial records?

All records should be kept indefinitely. We recommend storing your documents in a safe online storage. We say indefinitely because auditors may ask you to substantiate tax carry-forward information started many years in the past.

Should I be a corporation, limited liability company, or any other entity form?

The choice of entity will be a consideration of legal protection, costs for the entity, due diligence operating hassles, wealth planning opportunities, and tax effects. Qualified professional guidance is necessary when making this determination.