FAQ's- Background & Experience

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Background & Experience
 
 
Briefly describe your financial planning work history/experience or attach your resume.
My career in financial services began when I decided to enter a CFP® Board registered program as an undergraduate student at California State University Fullerton. Upon earning my Bachelor's Degree in 2002 I was offered an associate position with Wise Steward Corporation, an independent broker/dealer affiliated firm of National Planning Corporation in Southern California. During this time, I earned the NASD (now FINRA) Series 6, 63, 7, and 65 securities licenses, as well as an insurance license. In 2003, I was promoted to Jr. Partner with management, recruiting, and training responsibilities. In 2004, I began the process of becoming independent as an outside Sr. Advisor of Wise Steward. In 2005, I established Portnoff Financial LLC as a completely independent Fee-Only comprehensive financial planning and investment management practice
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What are your Educational qualifications? What financial planning designation(s) or certifications do you currently hold?
I earned a Bachelor's Degree in Business Administration from California State University Fullerton with a concentration in finance (CFP® Board registered Personal Financial Planning study program). Courses of study included: Financial Accounting; Business & It's Legal Environment; Business/Professional Ethics; Business Finance; The International Economy; Business Microeconomics; Theory of Corporate Finance; Introduction to Investments; Options & Futures; Capital and Money Markets; Personal Financial Planning; Retirement & Estate Planning; Principles of Taxation; Real Estate Investment Analysis; and Principles of Insurance. 

I completed a Master's Degree in Financial Services (MSFS) from The Institute of Business & Finance in 2012.

For additional information on professional certifications earned, go to Professional Credentials.

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Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?
No.
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Have you ever been cited by a professional or regulatory governing body for disciplinary reasons? If yes, please explain.
No.
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How many years of experience do you have in the following: Retirement Planning; Investment Planning; Tax Planning; Estate Planning; Insurance Planning; Integrated Planning; Other;
I have been providing comprehensive financial planning and investment management advice since 2002.
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What are your areas of specialization? What qualifies you in this field?
I specialize in retirement accumulation and distribution planning with individuals, families and business retirement plans. I help clients not only figure out how to effectively accumulate assets, but also how to protect those assets. The CRPS®  (Chartered Retirement Plans Specialist) designation and continuous study as an Ed Slott Master Elite IRA Advisor has provided me with specialized training in this area.  
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What licenses do you hold?
Portnoff Financial LLC is a Registered Investment Advisor in NJ, NY, CA, and Fl. 

When I was a registered representative of National Planning Corporation, a broker/dealer, I held the NASD (now FINRA) Series 6, 63, 7, and 65 securities licenses. I also previously held an insurance license for life and disability insurance. These licenses are required by registered representatives of broker/dealers and insurance agents to sell commission based financial products. Since becoming fee-only, I no longer need these sales licenses because I do not sell commission based financial products. 


Are you and/or your firm registered as an investment adviser? If not registered, why not?
Yes, Portnoff Financial LLC is registered as an Investment Adviser in New Jersey, New York, California, and Florida. I am an Investment Advisor Representative of Portnoff Financial LLC.
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Are you willing to provide full written disclosure for your credentials, ethics, business practices, and wealth management services?
Yes. All of these disclosures are in the Form ADV Brochure which can be found on the Forms page.
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Do you maintain an affiliation with a broker/dealer firm to sell financial products for commission?
No. Portnoff Financial LLC does not offer any financial products that pay sales commissions thus no broker/dealer affiliation is necessary.
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Do you have clients who might be willing to speak with me about your services?
Client privacy is of utmost importance; therefore, I do not release information of any kind about my clients unless specifically authorized to do so. Providing references forces me to impose upon my clients for my own benefit which I will not do.

In addition, Rule 206(4)-1 of the Investment Advisers Act of 1940 prohibits the use of testimonials. The intent of the rule is to prevent false and misleading advertisements. Testimonials are not permitted because they are inherently misleading, biased, and do not provide objective information that will help you make an informed decision.
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Will you provide me recommendations to other professionals?
I provide recommendations for certain professionals, or assist my clients in finding other professionals that they feel comfortable with such as CPA's, Attorneys, Realtors, Mortgage Brokers, etc.
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Which professional associations or organizations are you affiliated with?
See Professional Associations.
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Are you currently engaged in any other business, as a sole proprietor, partner, officer, employee, trustee, agent or otherwise?If yes, please explain.
No.
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