Frequently Asked Questions
What is a CFP® Professional?
Kraig has completed the exam and other various requirements necessary to be called CFP® professionals. The stated mission of Certified Financial Planner Board of Standards, Inc., CFP® Board, is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. Their public awareness campaign, whose website letsmakeaplan.org says the following about CFP® professionals: “Most people think all financial planners are “certified,” but this isn’t true. Anyone can call himself a “financial planner.” Only those who have fulfilled the certification and renewal requirements of CFP® Board can display the CFP® certification marks, which represent a high level of competency, ethics and professionalism. CFP® Board’s Standards of Professional Conduct require CFP® professionals to act in your best interest, putting your needs above their own.”
When was KRM Financial Planning & Wealth Management founded?
KRM was founded by Kraig R. Mickelsen in 1999. Kraig had been working with various banks and financial services companies and decided that the best way to put clients’ needs first would be to open his own company as an independent financial advisor.
How does KRM Financial Planning & Wealth Management get paid?
Every client situation is personal and unique. At KRM Financial Planning & Wealth Management, we have designed our means of compensation to be flexible for that reason. Depending on the client and his/her situation, we may charge an hourly planning fee, a flat “project-based” fee, or an “Assets Under Management” fee for our services. Many of our client engagements include the use of products as a part of the overall financial plan and we receive commissions when we implement products. Regardless of which type of fee structure we agree upon with our clients, they will always know the fees they are paying and how they are calculated. It is our policy to provide a no-obligation initial consultation with new prospective clients to help us both determine if there is a good client/advisor fit.
Client Referral Confidentiality?
KRM has been fortunate to earn the respect of our clients and the many referrals that are sent our way as a result. It is important to us that every client, current and potential, understands that we value and respect their right of privacy. We will never share any of your information without your consent. Any and all details of your personal and financial life are kept in the strictest confidence.
What is Summit Study Group?
Kraig was instrumental in forming the Summit Study Group in 2005. It was formed for the purpose of bringing together some of the top business and personal financial advisors from across the country to share their individual knowledge and experience. The objective is to achieve an even higher level of personal growth and professional development. You can find out more about the Summit Study Group at their website.
What happens if I don't live in Chicago or Illinois? Can I be a client?
Many of our clients live in different parts of the US. Whether they’ve moved away somewhere warmer or have always lived outside of Illinois, we’re able to work with clients wherever they live. Although we like to go and visit clients where they live when possible, technology has made it very easy to communicate and share information.
Plan Your Financial Future with Confidence!
Whether you’re navigating retirement, a career change, or major life milestones, our expert financial planners are here to guide you every step of the way.