FAQ


About Cross Financial Strategies, LLC

What is your relationship to LPL Financial?

Stephen J. Cross is an independent financial advisor and registered representative affiliated with LPL Financial. He�s not employed directly by LPL Financial. Cross Financial Strategies, LLC is independently owned and operated by Stephen J. Cross. While we strongly believe that LPL Financial is best suited to handle both Cross Financial Strategies, LLC and its client�s needs, we�re under no contractual obligation to continue to work with LPL Financial. Although currently we don�t see any reason to change this affiliation, we will do so if it�s in the best interests of both our clients and Cross Financial Strategies, LLC.

About LPL Financial

Why haven�t I heard of LPL Financial?

You probably have not heard of LPL Financial because they work with and assist the independent financial advisor market. That is, LPL Financial is the independent advisors enabling partner that works behind the scenes on such issues as trade clearing, comprehensive compliance support, client statement generation, advisor support and education, and independent economic and financial markets research.

To learn more about LPL Financial, please visit the About/LPL Financial section of my website as well as www.lpl.com

Does LPL Financial have a "privacy policy"? If so, what are the terms?

Yes, LPL Financial has and maintains a privacy policy. LPL Financial, its affiliated companies, and its registered representatives are committed to maintaining the trust and confidence of their clients. To provide you with a high level of service, LPL Financial must maintain certain information. LPL Financial wants you to understand how it protects your privacy when it collects and uses information, and the measures it takes to safeguard that information. Keeping customer information secure and private is a priority in our branch office and at LPL Financial.

Please click here for a copy of LPL Financials current Privacy Notice

Services Offered

Does LPL Financial promote proprietary investment products?

No. LPL Financial does not offer any proprietary products. This important fact lets Cross Financial Strategies, LLC choose from many of the nation�s leading investment managers in an unbiased and conflict free environment. Our investment recommendations and financial strategies will be based what best for you, not what�s best for LPL Financial.

Investments

What type of investments and financial products do you offer?

We offer a broad array of financial products including:

  • Stocks, both US and International
  • Taxable and Tax-free Bonds
  • Non-proprietary Mutual Funds
  • Exchange-traded funds (ETF�s)
  • Closed-end funds
  • Variable Annuities
  • Certificates of Deposit (CD�s)
  • Fixed and Variable Life Insurance
  • Group Retirement Plans for small-to-mid size businesses
  • And Fee-based Asset Management programs

Retirement Issues & Questions

How much will I need in order to retire confidently?

The answer to this question will vary greatly based upon each individuals and families retirement goals. Some would like to retire with $50,000 of pre-tax annual retirement income while others might desire $100,000 of pre-tax annual retirement income. But one useful "rule of thumb" states that you should only withdraw annually 4-5% of your retirement nest egg during retirement for living expenses. This 4-5% withdrawal rate takes into consideration both GOOD and BAD market environments.

Therefore, if you needed $30,000 of annual income, in addition to your Social Security benefit, then based upon this "rule of thumb" formula, your retirement nest egg would need to be between $600,000 and $750,000. Of course this answer is general in nature and everyone�s situation will be different.

So, I guess the answer is "You�ll probably need more than you think, especially since we�re all living longer!"

Financial Planning Questions

How much does a typical "financial plan" cost?

The fee charged for a "typical" financial plan is $500. A typical plan will address areas such as current and suggested asset allocation, retirement income analysis, balance sheet analysis, income analysis, developing savings goals based upon your various financial goals, insurance needs analysis, and education savings analysis. I use a very robust financial planning and account aggregation tool called "My Financial Strategy". The software is developed and owned by eMoney, a leader in the field.

A more comprehensive and detailed financial plan of course will be more expensive and will deal with more complex issues such as trust analysis, business ownership and transfer issues, possible buy/sell agreements, etc�

Life Insurance & Annuities

What types of Life insurance does Cross Financial Strategies handle?

As a licensed insurance agent with LPL Insurance Associates- a life insurance agency for LPL Financial Advisors- I can offer the following fixed and variable life insurance products:

  • Term life
  • Whole life
  • Universal life
  • Variable Life
  • Variable Universal Life
  • Long Term Care
  • Disability Insurance

How many different insurance carriers do you represent?

Cross Financial Strategies relies on and works directly with the LPL Insurance Associates experts to manage all phases of the insurance underwriting process, which might include:

  • Analysis and case design, including advanced case design
  • Providing client illustrations
  • Help choosing the right carrier and product for each client situation
  • Securing offers from carriers
  • Ordering all underwriting requirements

In addition, and importantly, LPL Insurance Associates works with over 17 quality, name-brand companies that can fulfill your specific fixed and variable insurance needs. We pick the product that works best for you, not the product that works best for us.

Miscellaneous

Can I check my account balances on-line? If so, where can I check them?

Yes, you can check your account balances on-line at https://accountview.lpl.com.