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Frequently Asked Questions

Please click the questions below to discover the answers.

WHAT IS HOLISTIC FINANCIAL PLANNING?

Holistic financial planning is a comprehensive and life-integrated approach to your finances. It incorporates all areas of your financial life to ensure they are working together to achieve results that reflect your goals, values and priorities.

WHAT IS MFMC INVESTMENT PHILOSOPHY?

Mirsky Financial Management Corp. actively manages risk by creating customized asset allocation and promoting a long-term investment perspective with emphasis on capital preservation.

Returns are maximized by uncovering investment opportunities and a focus on High-quality, cost effective investment vehicles such as mutual funds and ETFs.

When you referenced “low-cost investments,” what did you mean; do some investments cost less than others?

Yes, investments have many associated costs. Some investment costs pertain to an upfront or deferred sales charge, commonly called Load Funds. Other investments can have transaction fees in order for the broker to charge commissions. Finally, some investments have high internal costs called expense ratios that are common in actively managed funds. MFMC does not utilize any of the above strategies. All our funds are no load funds and we do not charge a commission on transactions. Furthermore, we employ a large amount of our investments into extremely low cost (low expense ratio) index ETF’s and passively managed mutual funds. Saving our clients substantial costs on investing alone.

WHAT IS YOUR APPROACH TO FINANCIAL PLANNING?

Financial planning should produce a plan that is clear, understandable, and actionable. Our process takes into action your vision, leading to awareness to implementation and finally to monitoring.

WHAT EXPERIENCE DO YOU HAVE?

Dave and Bernie have are highly ethical, honest individuals committed to their clients and have over 50 years of combined experience. They are backed by an exceptional and experienced team of professional to ensure that clients achieve their unique financial goals while maintaining the highest of ethical standards.

DOES MFMC INCORPORATE TAX IMPLICATIONS INTO THE INVESTMENT AND FINANCIAL PLANNING STRATEGIES?

MFMC owners are both CPAs and fully understand and appreciate all tax situations. As an MFMC client, we offer our tax services in order to view your entire tax situation. We have also created tax sensitive models that invest in various tax exempt investments as well as utilizing many tax-advantaged investment vehicles. We will review gifting strategies, bunching of deductions for optimization, customize investment strategies to avoid selling large unwanted gains, incorporate tax loss selling strategies in conjunction with any capital gains/loss carryforwards, and an overall favoring long-term capital gains tax rates to minimize short-term capital gains.

WHAT IS A FIDUCIARY DUTY AND WHY IS IT IMPORTANT?

a. This is a legal term in regards to investment advisors to always put their client’s best interests ahead of their own and their firm. Advisors with Fiduciary Duty have a fundamental obligation to provide suitable investment advice and always act in your best interests, not theirs.

b. MFMC as a Registered Investment Advisor (RIA) has a Fiduciary relationship to our clients. Not everyone calling themselves financial advisors are bound by the fiduciary code. This includes many brokers that earn commission revenues and sell proprietary products, thereby creating a conflict of interest. At MFMC, we take our Fiduciary Duty very seriously and always put our investment clients’ best interests first.

WHAT ATTRACTS PEOPLE TO WORK WITH US AT MFMC AND OUR PASSIVE INVESTMENT PHILOSOPHY THAT INCLUDES COMPREHENSIVE FINANCIAL PLANNING?

The main reason is trust, Trust comes by caring, and Caring is a characteristic our staff must possess. Providing meaningful value to each relationship and developing a plan based upon each unique client’s facts, circumstances and objectives.

Being disciplined about maintaining the plan while also being flexible along the margins of the plan when client situations change.

Clients love the fact that we can be their one stop shop for finance for:

Investments,Tax,Estate, Insurance and Financial Planning

Helping their children and parents

You name it, we can do it

Clients know that their investments will not be full of surprises. We establish model portfolios consistent with their objectives and risk tolerances. We build the portfolios using mostly low cost ETFs and some mutual funds. Ourinvestment goals are to “BE THE MARKET” at a very low cost,not to beat the market. There is a very modest portion of each model portfolio designed to be tactical to add alpha (take advantage of opportunities). Rebalancing back to initial target allocations when deemed appropriate is part of the disciplined process that adds value by selling high and buying low.

WHAT CAN A FINANCIAL PLANNING PLATFORM LIKE E-MONEY DO FOR OUR CLIENTS?

E-Money as a financial platform provides a real value to clients in its ability to aggregate their data and provide access to current and updated data to facilitate the planning process. The platform also helps the clients to get organized and gives them access to their big picture at any time.

WHAT MAKES A CAREER AT MFMC SO EXCITING AND STIMULATING?

What makes a Career at MFMC so exciting and stimulating?

As the founder of MFMC, my perspective is one that has been learned by listening to our staff over decades. In a nutshell, the folks at MFMC love to come to the work because they know that:

  • What they do each day MAKES a REAL DIFFERENCE in REAL PEOPLE’S LIVES
  • They need to challenge themselves and grow both academically and emotionally to keep up with the ever changing professional requirements and manage the complex issues that arise in our clients’ lives
    • Obtain Credentials that establish expertise
    • Earn Client Trust and Confidence
    • Communicate at high levels to optimize choices when decision-making is required
    • Attain full professional and personal potential
  • Being diligent, honest and committed to our clients are the attributes that build the trust necessary to provide superior service and maintain a loyal client following for decades to come
  • Opportunities exist for them to grow and become key players in the MFMC success story

HOW DO WE DETERMINE THE INVESTMENTS THAT ARE MOST SUITABLE FOR YOU?

MFMC determines which investments are most suitable for you based on a several factors. First, each client completes our “Investment Strategy Questionnaire” which helps to delineate the comfort level of the client moving forward regarding their investments. Second, the advisor takes into account the client’s objectives and financial goals by implementing an optimal mix of cash and debt management, savings plans, insurance coverages and other risk management techniques. These can include outside investment vehicles, tax strategies, employment benefits, retirement plans, and estate planning techniques. After examining all data and input the client provides, the client and advisor collectively develop and implement a cohesive strategy to provide the best possible course for a healthy financial future.

WHY DOES OUR PROFESSIONAL STAFF EACH HAVE PERSONAL CAREER OBJECTIVES THAT INCLUDE CONTINUING EDUCATION AND ACHIEVEMENT OF VARIOUS CREDENTIALS?

Our professional staff each has personal career objectives that include continuing education and achievement of various credentials because it is our duty to provide professional services with integrity, honor, fairness, and to maintain client trust and confidence. The most significant way MFMC can prove these concepts to our clients is to continue to learn, adapt, and grow in an ever-changing financial field. In addition, Investment Advisors are best suited to provide exemplary service to clients when they are not only proficient, but masterful of advanced financial planning techniques. It is our ethical duty to our clients to put your interests first, and that means remaining current at all times in our education.