What is financial planning?

Financial planning is the process of bringing together different parts of your financial life to build a roadmap for a secure future. We look at everything that affects your finances and together we craft a plan for achieving financial success, whatever that means to you. A financial plan is not a 100-page report that you stick in a drawer for 20 years until the day before you retire. Financial planning is not a one-and-done event, it is an ongoing, iterative process. As your life changes - and it will - your financial plan will change as well. Working with Katapult will give you the confidence to navigate all of life’s changes as they occur.

What makes you different than other financial services firms?

At Katapult, we want to understand what is most important to you before we make any recommendations. We want to know what your values are, what your dreams are, what excites you, what worries you. Yes, we do also want to know about your cash flow, tax situation and investments, but none of that means anything to me without knowing the context of your life first. Many financial advisors only want to focus on investments or want to sell you a product and don’t want to take the time to get to know what is most important to you. At Katapult, we begin and end with objective, independent advice. All the work we do puts you at the center, not your investments.

Why should I hire you instead of doing this myself?

I get it - there is a lot of information out there that you can find and implement on your own, for free. But there is a LOT you will need to know in order to make the best decisions for your situation. You're not done just because you created a budget and are contributing enough to your 401(k) to get your employer's match. There's so much more to learn and understand so that you can apply it to your personal financial life; so much, in fact, that it easily could be a full time job (mine!). You also have to spend time keeping up with changing tax laws, changes in the market and economy, and also changes in your personal situation. I like to think of myself as a personal trainer for your finances. Sure, you can head to the gym and work out on your own, but many people hire a personal trainer to help them stay focused, to hold them accountable, to exercise more efficiently, and hopefully reach their fitness goals faster than they would otherwise.

How are you compensated?

Katapult is a “fee-only” firm, meaning we are only compensated by the fees that our clients pay us. Some advisors are compensated in other ways, like getting paid a commission for selling a product. We eliminate this conflict of interest that other advisors face, which frees us to always provide independent, objective advice to our clients.

What is a fiduciary? Are you a fiduciary?

A fiduciary is someone who must operate in the best interest of someone else. At Katapult, we take our fiduciary duty very seriously and will always make recommendations that put your interests ahead of anyone else’s, including our own.

How often and where will we meet?

During our first year of working together we will met fairly regularly. You're getting to know me, I'm getting to know you, and we will have lots of work to get done! We might meet every few weeks at first as we get started and then meet every quarter as we move into implementing your recommendations. Typically after the first year or two we meet less frequently (maybe once or twice a year) on a formal basis, but I am always available at any time for questions that come up in between our regular meeting cadence.

We primarily meet with our clients virtually, but in-person meetings may happen if opportunity presents itself.

Do I have to live near you to work with you?

Nope! Technology makes it easy for us to work together, wherever you are.

Is there a fee for an initial meeting with you?

Our first conversation, whether it happens by phone or Zoom, is complimentary. I know that we will get the most out of working together if it is a good fit for both of us, so in the first meeting we will explore that together. I want to find out more about you - what your priorities are, what concerns you have, dreams you are working towards, and anything else that is on your mind. In turn, you’ll learn more about Katapult, the work we love doing with clients, and how we might be able to help you. It’s a no-pressure conversation, and even if we don’t end up working together I hope you will have gotten something useful out of it.

Do you have an investment minimum?

We don’t have an investment minimum. However, because of the comprehensive work that we do and the deep, collaborative relationships we have with our clients we do have a minimum annual fee for our ongoing investment management clients of $4,500 per year. We know that everyone’s situation is different, which is why we also offer our planning services on an hourly basis, via a one-time project-based fee, or through a monthly subscription model with an upfront initial payment. You can learn more about our services on our"How We Do It"page and our fees by visiting ourFee Table.

What is a CFP® professional?

The title “financial planner” is not a regulated term, which means that, unlike doctors or dentists, anyone can call themselves one regardless of training or experience.

A CFP® (Certified Financial Planner™ professional), however, has to actually earn that designation by meeting rigorous standards that I like to refer to as the “4Es”:

• Education: One must complete a comprehensive financial planning curriculum that covers personal financial management as well as investment, retirement, tax, estate, and insurance planning. (Fun fact: I completed my required financial planning coursework through Boston University’s Center for Professional Education. At that time, I was living in Coolidge Corner, Brookline, just down the street from BU. For those of you familiar with the area, I hope you can appreciate how dedicated a student I was for making it to class on time when the Red Sox were playing at Fenway!).
• Experience: One must also complete three years (which is a LOT of hours) of professional experience related to financial planning. By the time I finished my classes I had almost four years of experience under my belt (and now I have more than 20!).
• Exam: If you want to earn the CFP® designation today, you must take and pass a 6-hour computerized test. But “back in my day,” the test was 10 hours taken over two days with bubble sheets and #2 pencils. (I did not need to walk uphill both ways barefoot in the snow to take the test. Even worse, I had to drive on Route 95 during morning rush hour traffic to make it on time and I am NOT a morning person. Less than 60% of the people that took the test at that time passed, and I was one of them!).
• Ethics: A CFP® professional must adhere to the CFP Board’s Code of Ethics and Standards of Conduct and commit to maintaining high standards of competency and conduct. The cornerstone of this commitment is a CFP® professional’s obligation to always act as a fiduciary – in the best interest of the client - when providing financial advice. (I have no cute story to share… I take this part very seriously).

In addition, CFP® professionals are required to meet continuing education requirements of no less than 30 hours every two years to maintain their certification. That part is easy for me - I love learning new things, going to conferences, watching webinars, reading articles... I usually end up with double the amount of required hours in continuing education (and that's just the stuff I get credit for!). 

What are your fees?

Our fees vary from client to client based on a variety of factors, such as what services you are looking for and how complicated your situation is. If you have just a few questions you’d like answered, we charge either $350 per hour or a one-time pre-determined fee for limited scope engagements. If you are interested in a long-term financial planning relationship with us, we charge a one-time fee to craft an initial plan followed by a monthly fee for the ongoing relationship. For those looking for a more comprehensive relationship that includes investment management oversight, we charge a fee based on a percentage of the assets that we oversee. For further details, please see ourFee Table.

What is your investment philosophy?

At Katapult, we adhere to a set of guiding investment principles that shape our portfolio design and management approach:

• Risk and return are related. Higher expected returns require a willingness to accept greater risk.
• Markets incorporate information efficiently. While not perfectly efficient at all times, markets generally reflect the information available to all investors.
• Portfolio design matters most. The structure and diversification of the overall portfolio have a greater impact on long-term results than the selection of any single investment.
• A long-term perspective is critical. Staying invested through market cycles improves the likelihood of achieving financial goals.
• Diversification reduces risk. Broad, global diversification can help mitigate portfolio volatility and improve risk-adjusted returns over time.
  

Our Implementation Approach
We typically implement investment strategies using broadly diversified, low-cost exchange-traded funds (ETFs). This allows us to efficiently capture market returns, maintain global diversification, and manage costs and taxes effectively. We generally do not recommend frequent trading or the use of individual securities, speculative investments, or attempts to “beat the market.”

Our Discipline
We emphasize asset allocation and disciplined rebalancing, rather than attempting to predict short-term market movements. While maintaining adequate liquidity for known expenses is important, we do not advocate wholesale shifts to cash in response to market uncertainty.

Rebalancing to the target allocation (even when it feels uncomfortable) is an essential part of our discipline. This process helps investors avoid the common behavioral pitfalls of buying high and selling low.

Our Perspective
We recognize that markets fluctuate. Periods of decline are an inherent part of investing, but history shows that markets have more often risen than fallen over long horizons. Maintaining focus on long-term goals and individual circumstances helps clients remain calm and invested during volatility.

Important Note
All investing involves risk, including the potential loss of principal. Past performance is not a guarantee of future results. Our recommendations are tailored to each client’s objectives, risk tolerance, and time horizon.