Which organization oversees and regulates your firm?

REDROCK WEALTH MANAGEMENT, LLC is a Registered Investment Advisor Firm regulated by the SEC (Securities & Exchange Commission). To verify the firm’s status as a Registered Investment Advisor Firm, you may follow this link to the Security and Exchange Commission’s Website here: www.sec.gov (The Securities & Exchange Commission Website)

Click the link to “Check out brokers & advisors” (under Investor Information), then “Research Investment Advisor Firms”. The following page will allow you to do an “Investment Advisor Search“, from here you can type in the firm name (REDROCK WEALTH MANAGEMENT OR Red Rock Wealth Management), or search by CRD #134562 or by SEC Registration #801-68386. With the results you can follow the links to the firm form ADV filed with the SEC and view the firm registration status.

What do these financial industry designations mean?

The fact is there are dozens of financial service industry designations. Many of them are created solely by companies looking to sell educations products and services. Many of them mean little if anything, however there are a handful of designations which are critical to you and your financial future… designations which you should expect and require from your financial advisor.

You can perform a search of your financial advisors designations and learn more about those designations and what they mean through the Financial Industry Regulatory Authority here:

The FINRA Designations Search Page

Why don’t I see any of Greg Phelps securities licenses listed through the NASD Broker Check system?

Greg has held his Series 7, 31, 65, and 63 licenses in addition to other life and health insurance licenses in the past. Those licenses are essential to receiving commissions from the sale of investment or insurance products. With the exception of the Series 65, they are not required for active status as a Registered Investment Advisor Firm.

As the President & CEO of a Registered Investment Advisor Firm, Greg Phelps is now a Fee-Only Financial Advisor in Las Vegas. As such, he and his firm accept no commissions from the sale of insurance or investment products. Therefore he does not actively hold (and is not required to hold) his licenses with any broker-dealer. If your financial advisor has any relationship (95% of financial advisors do) with a broker-dealer they can and do accept commissions for recommending investment and insurance products (conflict of interest).

How do I verify the CERTIFIED FINANCIAL PLANNER™ (CFP ®) designation?

To verify the CERTIFIED FINANCIAL PLANNER™ (CFP ®) designation, visit the CERTIFIED FINANCIAL PLANNER™ Board of Standards website and follow the process to find a CERTIFIED FINANCIAL PLANNER™.

How do I verify Greg’s status as a Fee-Only financial planner?

There is only one international organization of Fee-Only financial planners – the “National Association of Personal Financial Advisors (NAPFA)”. NAPFA has strict business and ethical standards for its members in addition to accepting ONLY those planners who refuse commissions from the sale of insurance or investment products.

To verify Greg’s membership status as a NAPFA registered financial advisor, visit NAPFA’s website here:

http://www.napfa.org/

and click the link to “Find a NAPFA Registered Fee-Only Financial Advisor”, then search the Las Vegas or Henderson, NV area.

How do I verify Greg’s membership status in the other professional organizations he belongs too?

Greg is also a member of the FPA (Financial Planning Association). You can verify membership in the Financial Planning Association by visiting their website below:

http://www.fpanet.org/ – The Financial Planning Association

What type of authority will Greg Phelps and REDROCK WEALTH MANAGEMENT, LLC have over my accounts?

As your Las Vegas based SEC Registered Investment Advisor firm we will have the authority to:

1. Make transactions in your Schwab or TD Ameritrade account in order to allocate your investments according to your financial plan and the Investment Policy created for you;
2. Request a check be sent directly to you, or a transfer be made to a like named account. No funds can be withdrawn or likewise transferred out in any other name except for your own. For example, Schwab will not send a check to “John Doe” at our request, but they will send one to you at our request.
3. Deduct management and investment advisory fees from your accounts per our Wealth Advisory Services Agreement and Fee Schedule. Account debits in excess of the normal or usual investment advisory fees (noted in our form ADV which is on file with Schwab and TD Ameritrade) are not allowed. Schwab and TD Ameritrade both have safeguards in place to prevent excessive investment advisory fee debits from being processed.
4. View online, monitor and maintain, and discuss your accounts directly with you.

Are your fees deductible?

IRS Code Section 212 states that investment advisory and financial planning fees incurred may be deductible as miscellaneous itemized expenses to the extent that they exceed 2% of your adjusted gross income. Other miscellaneous itemized deductions which fall into the same category are fees paid for a safe deposit box, estate planning fees, tax preparation fees, attorney and legal fees, and more. So the short answer is fees paid for wealth advisory services may be deductibe and we encourage our clients to ask their accountant or CPA about the deductibility of fees.

Can you take my money?

No. Your portfolio will be custodied at TD Ameritrade Institutional or Charles Schwab Institutional. Both custodians have implemented safeguards to protect you and your financial assets. For example:

1. Any money leaving your account will only be sent by the custodian directly to your address of record and in your name. Your address cannot be changed without your written consent, and the Institutional Service Team verifies your signature matches the one they have on file for such a request;
2. Any money transferred out of your account (with the exception of the firm’s investment management fees) may only be transferred into an account with the exact same registration. For example, an account in the name of John and Jane Doe may only transfer to another account in the exact name of John and Jane Doe;
3. Both custodians retain on file a copy of the Firm’s most current Form ADV. Attempts to debit your account for investment management fees substantially in excess of the norm are immediately flagged as an excessive percentage of your portfolio and validated with an appropriate reason only (in the case of client fees for several accounts being taken from one account for example).

Do you have Professional Liability Insurance (E&O)?

Yes. The Firm carries professional liability insurance in the amounts of $500,000 per claim maximum and $1,000,000 per year total. If you would like a copy of our professional liability insurance policy please request one directly.

Is my information safe with your Firm?

The Firm maintains state of the art security measures. While no guarantees can be made in the current day and age of cyber hackers and other criminals, we have consulted with leading computer security experts. These experts have attempted to expose “holes” or “flaws” in our systems and were not able to do so. As such we feel confident we are doing everything we can to protect our clients to the fullest extent available with the current technology. We are very concerned with computer security and take this matter very seriously. In addition, the Firm shreds all client documents using a cross cut high capacity shredder and tests our security measures on a regular basis.

Is my information confidential?

Yes. By law we cannot disclose your private information to anyone but you directly, or your other financial advisors (attorneys, accountants, estate planners) with your consent only. Our client’s information is highly confidential and we take this matter very seriously.

Do you guarantee returns?

No. We absolutely do not guarantee returns whatsoever. Rather we put together solid and focused financial and retirement plans for our clients designed to help them achieve their goals. Financial and investment planning is more of an art than it is a science, and we cannot predict the future nor guarantee returns in any form.

Can I speak to some references?

We work diligently for all of the Firm’s clients and as such, the overwhelming majority of them are happy to provide a reference regarding the Firm’s services. While not every client chooses to provide a reference (some high profile clients wish to maintain their privacy), you can contact REDROCK WEALTH MANAGEMENT LLC directly, and Greg will be happy to contact Firm clients for permission to pass along their names and email addresses/contact numbers to you.

We go ONE STEP FURTHER! Ask any other financial advisor out there for references and they’ll likely “cherry pick” a few of their clients which they have a good relationship with. For this reason, references from other financial advisor “professionals” don’t mean much.

So we created a concept which completely removes any “cherry picking” of clients for references!

If you’re serious about becoming a client of REDROCK WEALTH MANAGEMENT, LLC and would like some references, simply give us three letters. We’ll search our client database and find three clients with last names starting with (or as close as possible to) the letters you give us. This prevents us from cherry picking client references, and it shows just how confident we are that we’ll have 100% positive references.

Do you hold my money directly?

Absolutely not. We will not take possession of cash or securities in any form for any time frame. We will however provide you postage paid envelope to forward checks and/or securities directly to TD Ameritrade or Charles Schwab Institutional, and of course provide you detailed instructions on the safest manner for funding your accounts.

Is my money safe at TD Ameritrade or Charles Schwab?

Both TD Ameritrade and Charles Schwab are members of the Securities Investor Protection Corporation (SIPC), the assets you have custodied are insured by SIPC up to $500,000 for each separate account including up to $100,000 in cash.

Such insurance DOES NOT protect your investment principal from market fluctuation or volatility; however it does provide an amount of protection in the event of your custodian going out of business.

Are your fees competitive to other providers?

Firm fees are not only competitive, they’re a great value for the services provided. We’ve been told by many clients who have interviewed several financial advisors that our fees are at the worst “competitive” with other financial advisors – and at the best 30% to 50% less!

We’re happy to provide you an apple to apples comparison of the fees you’re paying (or the proposed fees you’ll pay another financial advisor) and our fees. Our fees are simple to understand and reasonable. Most importantly, we believe in FULL DISCLOSURE – so we never hide or bury our fees like other brokers or “financial advisors” who are commission or “fee-based” (not Fee-Only!).

Why do you have a minimum portfolio size?

When you work with REDROCK WEALTH MANAGEMENT, LLC, you will work directly with Greg Phelps, CFP®, CLU®, AAMS®. Greg puts his substantial experience, knowledge, and credentials to work for each an every client equally. Rather than providing smaller clients the disservice of a lower level and quality of service as most other financial advisors do – Greg provides every client the same attention to detail and excellent planning services. An average new client relationship takes approximately 10 to 15 hours of meetings, consultations, reviews, research, and behind the scenes planning and preparation – and that’s just the first few months of a relationship!

The $500,000 (investment management services only) minimum household portfolio size ensures Greg can continue to provide each and every client of REDROCK WEALTH MANAGEMENT, LLC, the same high standard of excellence in financial advice, personal service, attention to detail and overall quality relationship.

What are all of those letters behind your name: Greg Phelps, CFP®, CLU®, AAMS®?

They’re all professional credentials. You can read Greg’s biography here; however the abbreviations are as follows:

1. CFP ® – CERTIFIED FINANCIAL PLANNER ™ – This designation is achieved through the CERTIFIED FINANCIAL PLANNER ™ Board of Standards and requires two years of coursework study in financial planning and related financial areas, as well as a comprehensive two day test and agreement to an oath of ethics;
2. CLU ® – Chartered Life Underwriter – This designation is achieved through the American College and requires a total of 8 courses of study primarily in estate and insurance planning, as well as comprehensive testing and agreement to an oath of ethics;
3. AAMS ® – Accredited Asset Management Specialist – This designation is achieved through the College for Financial Planning and requires a specific course and comprehensive testing in the area of investment management.

Can you provide advice related to my retirement plan at work?

Yes, as part of the financial and investment planning process Greg helps ensure your investment assets, both through work related retirement plans and separately held at the directed custodian, will work in concert together even if we don’t directly manage your external accounts.

Are you a member of the Paladin Registry of financial advisors?

Yes, you can verify my membership in the Paladin Registry by clicking here.

What are your Financial Advisor and Investment Management fees?

Learn about our financial advisor and investment management fees by clicking here.