Frequently Asked Questions

Book a free 30-minute intro call. We will learn about your situation, share how we work, and answer any questions you have. Schedule your call here.

Yes. We are based in Carbondale, Illinois, and serve clients across the country virtually. All meetings are conducted by video call.

You will work directly with Max Novak, CFP®, or Zach Novak, CFP®. Both are CFP® professionals with prior experience at nationally recognized wealth management firms. The same advisor stays with you throughout the relationship.

Most clients receive their initial financial plan within 30 days of their first planning meeting. The timeline depends on how quickly information is gathered and the complexity of the situation.

A flat-fee financial advisor charges a fixed annual fee for their services rather than a percentage of the assets they manage. The fee stays the same regardless of portfolio size. At Novak Financial Partners, plans are $4,000 per year for the Wealth Accumulators plan and $6,000 per year for the Pre-Retirees and Retirees plan. Both plans include comprehensive financial planning, investment management, tax coordination, and unlimited access to your CFP® professional.

An AUM advisor charges a percentage of the assets they manage, typically around 1% per year. That fee grows automatically as the portfolio grows. A flat fee is a fixed dollar amount regardless of portfolio size. Both structures can deliver high-quality advice. The right choice depends on what services you need and how the fee aligns with the work being done. See the math at five portfolio sizes.

We charge a flat annual fee, billed directly to the client. There are no product commissions, no fund company payments, and no asset-based percentage. The $4,000 or $6,000 annual fee is the entire cost of our services.

No. We have no asset minimums. The flat-fee model means you pay for the planning, not the size of your portfolio.

Yes. Portfolio management and rebalancing are included in the flat annual fee. There is no separate AUM fee for investment management.

Yes. There are no long-term contracts and you can cancel at any time.

If you are within 10 years of retirement or already retired, the Pre-Retirees and Retirees plan is generally the better fit. If you are in your earning years, growing your income or business, and managing competing priorities, the Wealth Accumulators plan is designed for that stage. The intro call is the best way to confirm which one matches your situation.

Neither structure is inherently better. The right fit depends on three things: the scope of services you actually need, how the advisor charges relative to the work being done, and which incentive structure you are most comfortable with. AUM works well when investment management is the primary service and the advisor's compensation is tied to growing the portfolio. Flat-fee works well when comprehensive planning, tax coordination, and unlimited access matter more than asset management alone. Cost is one factor in the decision. Service scope and advisor relationship are typically larger ones.

On price alone, a $4,000 flat fee equals a 1% AUM fee at a $400,000 portfolio. Above that level, the flat fee is a lower dollar amount. Below it, AUM is the lower dollar amount. Price is only one part of the comparison. The services included at each fee level can vary significantly between firms, so comparing scope is as important as comparing cost. Run the numbers on your own portfolio.

Hourly planners charge per session or per project, often in the range of $200 to $400 per hour. They work well for one-time questions or a single project, such as a second opinion on a 401(k). Flat-fee planners charge a single annual fee for ongoing planning and access throughout the year. The choice depends on whether you need help once or want a continuing relationship.

Five questions worth asking. First, what exactly is included in the fee, and is investment management bundled or separate? Second, who will I actually work with, and will it be the same person every meeting? Third, is the firm a fiduciary at all times? Fourth, where will my assets be held, and is that custodian independent from the advisor? Fifth, what is the firm's planning cadence, and how do you reach your advisor between meetings?

There is no single right answer. Common situations where people choose to hire an advisor include earning equity compensation like RSUs, owning a business, approaching retirement, receiving an inheritance, going through a major life transition, or wanting a second opinion on a financial plan they built themselves. Whether an advisor is worth hiring depends on the complexity of the situation, how much time you want to spend managing it yourself, and what you would do with the time saved. More on when an advisor is worth it.

Need is more about complexity than portfolio size. A simple portfolio with one or two account types and a clear long-term strategy may not require an advisor at any asset level. A more complex situation, such as equity compensation, multiple account types, business income, or a near-term retirement decision, may benefit from an advisor at a much lower asset level. Portfolio size is one input. The number of moving parts and the consequence of getting them wrong matter more.

Whether any advisor fee is worth it depends on what is delivered for that fee. The relevant questions are: what services are included, how often you interact with your advisor, what specific planning is being done in each area of your financial life, and whether the advisor has the expertise to handle your particular situation. We publish what is included in each plan on our pricing page so prospective clients can evaluate scope before deciding.

Your financial plan covers your full financial picture: goals, cash flow, investments, tax strategy, insurance, estate planning, and equity compensation if applicable. It includes specific, actionable recommendations and is updated as your situation changes.

Yes. RSUs, ISOs, NQSOs, and ESPP each have different tax treatment and different planning considerations. We help you understand what you have, evaluate timing and concentration risk, and coordinate with tax planning. Read our full RSU tax planning guide.

Our standard cadence includes a planning review in Q1, a mid-year check-in in Q2, an estate and insurance review in Q3, and year-end tax optimization in Q4. You also have access to your advisor by email and phone between meetings.

We provide tax planning throughout the year, including Roth conversion analysis, tax-loss harvesting, income timing strategies, and coordination with your CPA or tax preparer. We do not prepare tax returns directly.

Yes. We review your estate planning needs as part of your comprehensive financial plan, including wills, trusts, beneficiary designations, powers of attorney, and healthcare directives. We coordinate with estate planning attorneys; we do not draft legal documents directly.

Yes. Social Security claiming strategy is included in the Pre-Retirees and Retirees plan. We analyze claiming options to help you make an informed decision based on your specific situation.

Client assets are held at Altruist, an independent custodian. The firm advising you is separate from the firm holding your money. We have permission to manage and trade in your accounts, but withdrawals only go to you.

Employer-sponsored accounts like 401(k)s stay where they are, and we provide guidance on how to invest them. Personal taxable and IRA accounts typically transfer to our custodian, Altruist, so we can manage them and coordinate tax-loss harvesting and rebalancing across your full portfolio. We handle the transfer paperwork.

Novak Financial Partners is a two-advisor firm. Max Novak, CFP®, and Zach Novak, CFP®, work as a team and have visibility into every client situation. If one of us is unavailable, the other steps in. The firm is also part of Core Planning, a registered investment advisory firm with operational infrastructure and additional advisor support.

Yes. Advisory services are offered through Core Planning LLC, a Registered Investment Advisor. As a registered investment advisor, we are legally required to act in our clients' best interest at all times. We do not sell products or earn commissions.

A fiduciary must recommend what is in the client's best interest. An advisor held to a suitability standard only needs to recommend products that are suitable for someone in the client's general situation, even if a better option exists. Broker-dealers and insurance agents have historically been held to suitability. Registered Investment Advisors, including Novak Financial Partners, are held to the fiduciary standard.

A CFP® professional has met the certification requirements of the CFP Board. Those requirements include completing an education program, passing a comprehensive exam, demonstrating professional experience, and adhering to ongoing ethics requirements. A CFP® professional is trained to look at a client's entire financial life, not a single piece of it.

Client financial information is handled confidentially. We use secure client portals for document sharing and communication. Client data is used to provide financial advice and is not sold or shared with third parties. We follow applicable regulatory requirements for data security.