FAQ

What services does Preferred Financial offer?

Preferred Financial provides a comprehensive suite of professional services, including investment, retirement, & estate planning, life insurance, Medicare, accounting, bookkeeping, payroll and tax preparation.

Do I need to have a certain amount of money to start investing with you?

We don't have a minimum asset requirement. We understand that everyone's financial situation is unique. If you're committed to growing your wealth and believe our services could be valuable to you, we encourage you to reach out for a complimentary initial consultation. We can discuss your specific needs and determine if we're a good fit for each other.

What can I expect from our initial consultation?

Our initial meeting serves as a comprehensive introduction to our firm. During this complimentary session, we will focus on the following:

Introductions: Meeting our team and understanding our firm's culture.
Assessment: A discussion regarding your financial goals and current financial landscape.
Strategy: An overview of our services and how we can tailor them to your needs.
Transparency: A clear explanation of our fee structure and operational process.
Q&A: An opportunity for you to ask any questions you may have.

This consultation is a mutual discovery process designed to determine if our firm is the right fit for your needs, with no obligation to proceed. We encourage you to bring relevant financial documents and any questions you wish to address.

What investment solutions are available to me?

We believe in building a portfolio that aligns with your unique financial objectives. Our firm offers access to a broad spectrum of investments, including mutual funds, ETFs, individual stocks, and bonds. We also offer annuities for clients whose financial plans require them. We are happy to discuss which of these options may best suit your personal strategy.

What is the typical frequency of our meetings?

We tailor our communication schedule to meet your needs. While flexibility is central to our process, our standard engagement framework includes:

Planning Phase: Typically involves 2 meetings over the first few weeks to establish your comprehensive financial plan.
Reviews: Annual reviews to do a deep dive into your total financial picture to ensure long-term alignment.
Responsive Support: We are available for additional consultations as needed, particularly during significant life transitions or when urgent questions arise.

Please note that these are guidelines; we are happy to adjust the frequency of our contact to suit your preferences and current circumstances.

How can I stay updated on my financial progress?

We are committed to keeping you informed and confident in your financial trajectory. To assist with this, we offer several resources:

Annual Performance Reviews: Comprehensive meetings to assess your portfolio and progress toward your goals.
Secure Client Portal: 24/7 access to your accounts, vital documents, and personalized financial plans.
Quarterly Insights: Regular newsletters featuring market updates and practical financial guidance.
Ongoing Support: Our team is always available to address any questions regarding your accounts or specific financial circumstances.

What should I bring to my initial tax consultation?

While not mandatory, providing a copy of your previous year's tax return is highly beneficial for new clients. For all clients, please ensure you bring all relevant tax documentation for the current season, including W-2s, 1099s, and any other supporting tax forms.

What types of tax returns do you prepare?

We provide comprehensive tax preparation services for a wide range of clients, including individuals, married couples filing jointly or separately, various corporate entities, and fiduciary accounts. We are equipped to handle complex tax situations across these diverse categories.

How do I know if I am eligible for Medicare?

You must be a U.S. citizen or permanent legal resident. Most individuals become eligible for Medicare when they turn 65. If you have worked long enough to earn sufficient Social Security credits (generally 10 years or 40 credits), Part A (Hospital Insurance) is typically premium-free.

Automatic Enrollment: If you are already receiving Social Security retirement or disability benefits, you are typically enrolled automatically in Part A and Part B around your 65th birthday.
Initial Enrollment Period: If you are not receiving Social Security benefits, you must proactively apply. Your Initial Enrollment Period is a seven-month window: the month you turn 65, the three months before, and the three months after.
Late Penalties: If you miss your enrollment window and do not have "creditable" coverage (such as from a current employer), you may face lifetime late enrollment penalties for Part B.

Please reach out to us 2-3 months before your 65th birthday. Be sure to have your Medicare card or started the process to receive your Medicare card.

What accounting, payroll, and bookkeeping services do you provide?

Full-Cycle Bookkeeping: Complete day-to-day financial record-keeping so you don't have to think about it.
Financial Statement Preparation: Accurate, timely reports to keep your finger on the pulse of your business.
End-to-End Payroll Processing: Reliable handling of payroll from start to finish, ensuring employees are paid right and on time.
Compliance & Organization: Keeping your records audit ready and fully compliant with current regulations.
Strategic Optimization: Turning clean data into actionable insights for long-term growth and smarter decision-making.