Saltwater Harbor Financial, LLC
This adviser will provide you with a COMPLIMENTARY initial consultation
Minimum client assets required: No minimum required
Minimum client income required: No minimum required
Title: Fee-Only Financial Planner
Offering advice since: 1998
Areas of focus:
- Business planning
- Divorce planning
- Charitable and Planned Giving
- Elder Issues (long-term care, pre-mortem planning)
- Educational Planning
- Estate Planning/Wills
- Insurance (risk management, disability insurance)
- Life Planning
- Portfolio Management
- Real Estate
- Retirement Planning
- Stocks and Bonds
- Tax Planning
Further information about Eric Simonds:
Eric Simonds is a Portland, Maine Fee-Only Financial Planner located in Brunswick, ME and serving clients across the country. Saltwater Harbor Financial LLC specializes in providing objective financial planning, in accordance with the fiduciary standard, to help clients build, manage, grow, and protect their assets through life transitions. Eric Simonds is a NAPFA-Registered Financial Advisor and a CERTIFIED FINANCIAL PLANNER™ Professional and has been admitted to the Paladin Registry.
Eric Simonds has a passion for helping others. Over the past 12 years, Eric has gained his skills and credentials through both private and public sector careers in finance, policy and compliance. This experience, in addition to his Masters of Financial Planning from Golden Gate University, allows him to provide quality financial planning to all Maine families through Saltwater Harbor. Eric takes great pride in operating his own financial planning practice, knowing he makes a difference in the lives of his clients. His motivation for success is fueled by his clients' accomplishments and ability to achieve their financial dreams with his guidance.
Eric is a founding member of the Maine Senior Education Collective, President of Freeport, Maine "Think Local" and a contributor to many media outlets. Eric has had the honor of having his writings appear in Parent and Family, My Generation and Maine Magazine. Eric has served as a subject matter expert on WCME 900AM as well as on Derek Volk's Box Talk Radio. In addition, Eric is the ONLY fee-only financial planner in Maine with no account minimum requirement to utilize the "assets under management" compensations model. His philosophy of the advisor and client growing successful together permeates all aspects of his life and financial advisory practice.
Eric is both a 2011 National Huguenot Scholarship recipient and the sole 2012 National Association Professional Financial Advisors Merit Scholar. In addition to his Masters in Financial Planning, Eric also holds Bachelor degrees from both the University of Maine and the University of Southern Maine. Highly involved in his local community and family, he resides in Brunswick with his wonderful wife, Kate, their two amazing sons, two naughty dogs and a cat.
Compensation and Fee Structures:
Clients choose the compensation model that works best for them. They may choose between:
1. Project Based Pricing - At Saltwater Harbor Financial, LLC each case is unique. However, we do adhere to a basic formula to determine what each project will cost. That formula is $500 for the first project (i.e. retirement plan, insurance consultation, setting up accounts at an unaffiliated custodian, etc.), $400 for a second planning task contracted within the 24-hours of the first task, $300 for a third task in that same time period and $200 for each additional task.
2. Hourly - Although SHF seldom works on an hourly basis, it is the logical method for some tasks. When we perform hourly work, our standard rate is very competitive. We believe in the free market where quality is desired and compensated. Furthermore, the client's future is valuable and should not be placed in the hands of the lowest bidder, especially when the lowest bidder's costs are usually defrayed by serving other interests rather than the client's.
3. Assets Under Management (AUM) - SHF utilizes AUM under the following structure. SHF receives a payment of 1% of the total funds invested annually. Those annual payments are split in 4 payments throughout the year which consist of 0.25% of the client's total investments under our management. These monies are drafted from an account to which SHF has electronic access. These payment are drafted on or about the first business day following each of the four fiscal quarters.
More in-depth information on Saltwater Harbor Financial, LLC compensation system may be found here: http://saltwaterharbor.com/shf-compensation-model/
Licenses, Certifications & Affiliations:
Series 65, NAPFA, FPA, Maine Senior Education Collective (Founding Member), Think Local, Masonic Lodge
Bachelors Of Arts, Political Science, UMaine
Bachelors Of Science, Criminology, University of Southern Maine
Masters of Arts, Public Policy and Management, Muskie Institute
Masters of Science, Financial Planning, Golden Gate University
Will provide references upon request?
Further information about Saltwater Harbor Financial, LLC:
(Size of firm: 0-9 advisors)
Saltwater Harbor Financial, LLC (SHF) is a limited liability company incorporated under the laws of the State of Maine in 2012. SHF is registered with the State of Maine in accordance with M.R.S.A 32. SHF is solely owned by Eric Simonds, MsFP and operates completely debt-free.
Our business model is based on our choice to subscribe to the fiduciary standard, which necessitates us placing the needs and best interests of our client's ahead of our own, at all times. We are of the belief that an adviser-client relationship can only be achieved through a fiduciary relationship, and all other engagements are tantamount to a salesman-customer relationship.
Furthermore, we believe in educating our clients in areas in which they are interested and we work toward increased financial literacy through our partnerships with community action agencies and our relationship with our local community.
It is our biased belief that only in a marketplace of informed clients can a superior advisor become the clear choice.
SHF specializes in providing comprehensive financial planning service to clients, with a focus on estate planning and strategic tax planning. SHF also proudly provides a full array of traditional investment services WITHOUT selling financial products and NEVER accepting commissions.
Comprehensive Regulatory Disclosures Available Here:
Contact Information for Eric Simonds
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Address for Eric Simonds:
1 Poplar Drive
Brunswick, ME, 04011
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