Kim C. Christensen                                                              
Certified Financial Planner    
Registered Investment Adviser        
Registered Investment Advisor

The financial services market is far too diverse and complex to be an expert in everything.  Therefore I focus on the things I know best, and let others who are experts in their areas of financial management help you.  I develop an asset allocation strategy based on your unique situation, and implement it with a combination of one or more of the following:  exchange traded funds (ETF's), mutual funds, and occasionally securities and bonds.  With the agreement and understanding of my clients, I also include the flexibility to make asset allocation adjustments when I feel market conditions warrant more conservative strategies.

All investment accounts will be on a discretionary basis unless another agreement is made in advance.  That is, I will be making the investment decisions and changes will be made when necessary without requiring client permission.  Non-discretionary accounts are possible if agreed to in advance.

I use TD Ameritrade as custodian for most of my client accounts.  However, you are free to use any custodian or broker that you choose.  I also advise clients on their 401(K), 403(B), and 401(A) accounts, and those are usually held by other custodians, such as Fidelity Investments.  I am approved by Fidelity Investments to access client account information, with the client's written authorization.  I am also authorized to do the same by American Funds.

Asset management fees generally start at 1% per year of assets under management, and go down as assets go up.  An annual flat fee retainer is another option.  See my client brochure (Part 2 brochure under Registration Info) for details on fees and how I operate.

Mutual Funds

Mutual funds are a principle investment tool for most investors, and I evaluate funds based on the quality of the company and manager(s), expenses, and long-term performance.

Exchange Traded Funds

Exchange traded funds (ETF's) will be used when appropriate as they generally have the lowest expenses.  They also can be traded at any time of day rather than at the close of the trading day, like mutual funds, and do not have any short term redemption fees, unlike many mutual funds.


I generally do not advocate using annuities as a retirement vehicle, although there are exceptions.  Most, but not all, annuities have high fees and high commissions paid to the insurance agent, and they can be difficult to understand.  A selling point for many annuities are guaranteed returns and income payouts, but when you look at the details, the returns are not exceptional, and the guarantees are subject to the financial strength of the insurance company.  They usually have surrender periods which can be quite long.  If you buy an annuity then find a couple of years later that you need the money, paying a surrender charge of several percent can be painful.

The benefit of an annuity is the ability to turn it into a guaranteed lifetime stream of income at some point after retirement.  But once you do that, access to the funds are gone, other than the regular payments that you will be receiving.  I would not advocate putting all of one's savings into an annuity, but some part might be appropriate, depending on the client's needs and health.  If you have a shorter than typical life expectancy, it probably doesn't make sense to annuitize an annuity.  If you have an annuity that has not been annuitized, you should be able to withdraw funds as needed without penalty, if the surrender period has expired.

Annuities can be useful if you have a permanent life insurance policy (whole life, universal life, etc.) that you do not need or want any longer, and that is "upside down", meaning you have paid in more premiums than the cash value of the policy.  You can do a 1035 exchange into a low cost, no surrender period annuity and your basis (including the loss in value) will carry over to the annuity.  Your subsequent gains in the annuity will not be taxable until they exceed the basis in the annuity, and only the gains that exceed the basis will be taxable.
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