51 Man-Mar Drive, Suite 5, Plainville, MA 02762

508-286-7900
info@santorofpg.com
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FAQs

Welcome to the Santoro Financial Planning Group FAQ page!

Here, we've gathered answers to some of the most common questions we receive. If you need more information, don't hesitate to contact us directly.

1.      What is Financial Planning?

Financial planning is the holistic process of creating a roadmap to achieve your financial goals by understanding your current situation, setting goals, and developing strategies for saving, investing, and managing your finances. 

Key Aspects of Financial Planning:

  • Goal Setting:

Identifying your short-term and long-term financial goals, such as buying a house, paying off debt, saving for retirement, or funding education. 

  • Budgeting:

Creating a plan for how you spend your money, tracking income and expenses, and identifying areas where you can save or reduce costs. 

  • Debt Management:

Developing a strategy to pay off debts, such as credit card debt or student loans. 

  • Risk Management:

Protecting your assets and income through insurance, such as health insurance, life insurance, and disability insurance. 

  • Investing:

Developing an investment strategy to grow your wealth over time, considering factors like risk tolerance and time horizon. 

  • Tax Planning:

Minimizing your tax liability through tax-advantaged accounts and strategies. 

  • Retirement Planning:

Determining how much money you'll need in retirement and developing a plan to save and invest accordingly. 

  • Education Planning:

Saving for college or other educational expenses. 

  • Estate Planning:

Planning for the transfer of your assets and ensuring your wishes are carried out after your death. 

 

2. Why do I need a financial planner? Can’t I just manage my money on my own?

Not having a financial planner could actually cost you more in the long run.

Without expert guidance, it’s easy to make decisions that feel right in the moment but hurt your long-term goals — like under-saving, investing too cautiously (or too recklessly), or missing key tax strategies. A good financial planner helps you avoid costly mistakes and build a plan that works for your life.

You’re not just paying for advice — you’re investing in confidence and an informed strategy that works for you. You need a pro in your corner.

Santoro Financial Planning Group will:

  • Work to create a comprehensive financial plan.
  • Keep you on track with your investing plan including regular rebalancing.
  • Save you time and make investing less stressful.
  • Help you keep perspective during emotional times and changing life events.


3. What services does Santoro Financial Planning Group offer?

We offer a wide range of financial planning services, including:

  • Investment management
  • Retirement planning
  • Estate planning strategies
  • Tax planning and optimization
  • College savings planning
  • Risk management and insurance advice
  • Business financial planning
  • Comprehensive financial assessments

Our team works with you to create a personalized strategy based on your unique goals and financial situation.

4. How do I get started with financial planning?

Getting started is easy! Simply reach out to us via our contact page or call our office at 508-286-7900. We’ll schedule an initial consultation to discuss your goals, current financial situation, and how we can best support you in achieving long-term financial success. Your initial no commitment consultation is FREE.

5. Do I need to be wealthy to work with Santoro Financial Planning Group?

No, you don’t need to be wealthy to benefit from our services. We work with individuals and families at all stages of life—whether you're just starting your career, growing your wealth, or preparing for retirement. Our focus is on providing personalized financial planning tailored to your goals, not your account balance. There are no minimums required to work with us.

6. How much do your services cost?

Our fees are customized based on the services you need and the complexity of your financial situation. We offer both flat and percentage-based fees, depending on the type of service. During our initial consultation, we will discuss your goals and provide a transparent pricing structure based on the services we recommend. You can click here to see our Client Relationship Summary which explains how investment advisory and brokerage services and related fees differ.

7. Do you work with clients in different locations?

Yes! While our primary office is in Plainville, Massachusetts we work with clients nationwide. Thanks to technology, we’re able to provide virtual meetings and remote support to make financial planning accessible to individuals no matter where they are located. You can access a list of all the states we’re registered in here via Broker Check, and we’re always able to register in additional states as needed.

8. What’s the difference between a financial advisor and a financial planner?

A financial advisor provides guidance on investments, while a financial planner takes a more comprehensive approach, helping clients with all aspects of their financial lives.

At Santoro Financial Planning Group, we offer both advisory and planning services to give you a holistic strategy to meet your financial goals.

As a CERTIFIED FINANCIAL PLANNER® (CFP®), David Santoro is a “fiduciary” when managing your assets, meaning that he’s legally and ethically required to act in your best interest, putting your interests first.

9. How often will I meet with my financial planner?

The frequency of meetings depends on your needs and goals. Many clients prefer quarterly or annual check-ins, but we can meet as often as needed. We’ll also monitor your financial progress and work with you to adjust your plan as needed to ensure you're on track.

10. Is my personal and financial information secure with Santoro Financial Planning Group?

Yes, protecting your information is our top priority. We use secure systems and follow strict protocols to ensure the confidentiality and safety of your personal and financial data.

11. Can you help me with tax planning?

Yes! Our team includes specialized resources who can assist with tax planning strategies designed to help you minimize your tax burden and maximize savings. We’ll also work alongside your accountant or tax professional to develop a tax-efficient strategy tailored to your goals.

12. Do you offer investment management services?

Yes, we offer professional investment management services. We take a personalized approach, considering your financial goals, risk tolerance, and time horizon to build a diversified investment portfolio designed for your desires and needs.

13. How can I contact you if I have additional questions?

You can reach us by:


Our team is here to assist you and answer any questions you may have.

14. Do you offer retirement planning services?

Yes, we specialize in retirement planning. Whether you’re just starting to plan for retirement or already in retirement, we can help you design a strategy that supports your financial security for your future.

15. What is a fiduciary, and why is it important?

A fiduciary is a financial professional who is legally and ethically required to act in your best interest. This means that we must prioritize your financial well-being above all else, including any potential compensation or benefit to ourselves. Fiduciaries are held to the highest standard of care, and you can trust that our advice is always in your best interest.

At Santoro Financial Planning Group, we act as fiduciaries when managing assets, which means you can feel confident that our guidance and recommendations are focused solely on helping you achieve your financial goals.

16. What type of experience and training do you have?

David Santoro, CFP®, MBA is a CERTIFIED FINANCIAL PLANNER® professional with 32 years’ experience in the financial services industry. He has expertise in budgeting, cost benefit analysis, mutual fund attribution, revenue forecasting and analysis, taxation of mutual funds.

David has a bachelor’s degree in economics and an MBA in Finance. He also has multiple state licenses, FINRA registrations, insurance licenses and other registrations required to service a wide range of clients and their needs.

Further details regarding David’s qualifications can be found in the “Meet Our Team” section of our website.

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered by Santoro Financial Planning Group.

Click here to see a brochure that provides information about the qualifications and business practices of Commonwealth Financial Network®

17. What questions should I ask my financial planner?

  • How will we work together?
  • How will you communicate with me, and how often?
  • What services do you provide?
  • What’s your investment philosophy?
  • How will you track my investment performance?
  • What professional experience do you have?
  • What resources will I have when working with you?
  • How are you paid?
  • How will you consider assets you aren’t directly managing?
  • Do you work with CPAs or attorneys?
  • Are you a fiduciary? A CFP®? How can I check?
  • How long have you been a financial advisor?
  • If something happens to you, what happens to me and my funds?
  • What kind of clients do you work with?
  • What asset allocation will you use?
  • What investment benchmarks do you use?
  • Who is your custodian?

 Hopefully, many of these questions about us have been answered for you here in our FAQs.

18. Why do I need to diversify my portfolio? What does that even mean?

Diversification is a key investment strategy used to reduce the risk of significant losses. Diversifying your portfolio means spreading your investments across different asset classes, industries, and geographies to reduce overall risk and potentially enhance long-term returns. It's a crucial strategy because no single investment is guaranteed to perform well, and a diversified portfolio can help cushion losses if one area underperforms. 

Why *Diversify?

  • Reduces Risk:
    By investing in a variety of assets, you're less vulnerable to the performance of any single investment or market sector. If one investment struggles, others might compensate, stabilizing your overall portfolio. 
  • Enhances Potential Returns:
    A well-diversified portfolio can potentially lead to better returns over the long term, as it allows you to capture gains from various sources. 
  • Provides Stability:
    Diversification helps to reduce volatility and create a more stable investment experience, particularly during market downturns. 
  • Protects Against Unexpected Events:
    Diversification helps protect your portfolio from the impact of unforeseen economic changes, industry-specific issues, or other factors that can affect a particular investment. 

What Does Diversification Look Like?

  • Asset Class Diversification:
    This involves investing in a mix of assets, such as stocks, bonds, real estate, and cash equivalents. 
  • Within Asset Classes:
    You can further diversify within asset classes by investing in different types of stocks (large-cap, small-cap, growth, value), bonds (government, corporate, international), or industries. 
  • Geographic Diversification:
    Consider investing in companies or assets from different countries or regions to reduce reliance on any one economy. 
  • Industry Diversification:
    Avoid concentrating your investments in a single industry or sector, as their performance can be highly correlated. 
  • Mutual Funds and ETFs:
    These are often an effective way to achieve diversification, as they hold a basket of securities, providing instant diversification. 

*Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved.

 
We hope this FAQ has helped answer some of your questions about us. If you need more information, feel free to Contact Us directly. We look forward to working with you!