Click to Return to Homepage
Click to view our Profile
Click to view Our Services
Click here to Get Started
Click to view Frequently Asked Questions
Click for News & Articles
Click to Contact CEP Financial
 
 
 
Serving the Houston Area
& Southeast Texas

 
Fiduciary Oath

We will exercise our best efforts to act in good faith and in the best interests of our clients. We shall provide written disclosure to the client prior to the engagement, and thereafter throughout the term of the engagement, of any conflicts which will or reasonably may compromise our impartiality or independence.

We will not accept any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. We will not accept a fee or other compensation from another party based on the referral of a client or the client’s business.


Competency

A professional designation (Certified Financial Planner®. Chartered Financial Consultant, Certified Public Accountant) does not by itself mean that person is a truly competent financial advisor. You should carefully examine a person’s background and experience when choosing an advisor; someone who has been in the industry longer and provides comprehensive financial planning may be a better fit for you, especially if you have a complicated financial situation.

Mr. Regan has been offering comprehensive financial planning services for over 10 years.

• Prior to becoming a CFP® practitioner, Mr. Regan spent 25 years auditing and managing pension plans, 401ks, IRAs, insurance and annuity contracts for financial service companies. He is very knowledgeable in the terms, costs, and tax implications of these contracts.

• Mr. Regan has practiced as a Certified Financial Planner® practitioner since 1996. He has prepared financial plans for and managed the investments of hundreds of individuals, trusts and small companies.

• Mr. Regan is a former practicing CPA and served on the Board of the Houston Chapter of the Texas Society of CPAs and was chairman of the Financial Planning Committee.

• Currently, Mr. Regan teaches a class in financial planning at Saint Thomas University in Houston to graduate students and financial professionals that are studying to become Certified Financial Planners®.

Mr. Peterson has been offering tax, business and estate planning as part of his law practice for over 10 years.

Comprehensive

Many financial professionals loosely use the term Comprehensive” in describing their range of financial planning services. Financial planning is much more than simply developing a plan for primarily short-term objectives and reviewing the plan when appropriate. Comprehensive financial planning covers a wide range of both short- and long-term financial issues and addresses your personal goals, objectives and significant life cycle events.

The more services your financial advisor provides, the greater your odds of receiving truly comprehensive financial planning.

Your financial advisor should be able and willing to provide you with a comprehensive written analysis of your current financial situation as well as appropriate recommendations so you can reach your life's goals. In turn, this analysis will serve as the starting point for beginning your client/advisor relationship.

The recommendations provided by the financial advisor should provide insight into the specific investment vehicles the advisor recommends

The development of a comprehensive financial plan is the initial step to properly assessing your finances. A plan, however, has little value until it is implemented. As opposed to 'going it alone', consider having your financial advisor implement the plan. Fee-Only advisors can often reduce your investment costs by investing in assets with reduced annual expenses and no related sales commissions.

Regular and periodic reviews and on-going communication are necessary to ensure you remain on track toward achieving your financial objectives. The prospective financial advisor should provide you with this ongoing support

CEP prepares both comprehensive and segmented financial plans. CEP begins by gathering, analyzing, and evaluating data from the client, including goals and objectives. Comprehensive plans include a case summary, reports on financial position, cash flows, tax liabilities, insurance coverage, client goals and objectives and investment strategies. Plans are prepared based on client interviews, questionnaires, and /or documents supplied by the client. A customized plan is prepared for each client.

Compensation

How a financial advisor is compensated for the advice and recommendations you will be provided can tell you a lot about the quality and objectivity of that advice.

Advisors who accept commissions can tell you they are not conflicted, but the fact remains they are in a position to encourage you to invest in vehicles offering them higher commissions.

Financial advisors who are compensated based on commissions should be able to identify what percentage of their income comes from various investment vehicles. Take a thorough look at the percentages that will be paid to your advisor; if the majority of his/her compensation stems from stock trading, the advisor's role for you may be no more than that of a broker.

If a financial advisor has close ties to specific investments (i.e. is compensated by only one mutual fund company), the advisor should disclose that relationship before you engage his/her services. Failure to disclose that potential conflict of interest should give you reason to seek a relationship with a different financial professional.

As you work with a financial advisor, other needs revolving around important financial issues will become evident. Certain advisors, for example, recommend attorneys, accountants, insurance agents, and mortgage brokers from whom they receive a referral fee. If your prospective financial advisor indicates that she/he receives compensation for recommending clients to another professional, you may consider finding your own professionals. Advisors who recommend other professionals solely because they receive compensation from those referrals are not ethical and do not have your best interests in mind.

A financial advisor who receives 12(b)1 fees or “trailers” is not a Fee-Only Financial Advisor. A professional who accepts such fees may be conflicted in the advice they will provide you since certain investments carry higher levels of fees or trailers that will be more beneficial for the financial advisor, not you.

Commission-based advisors may receive higher commissions on certain products they sell than on others. This may influence their decision to recommend investment products that are not in your best interest. Fee-Only advisors do not have this conflict of interest; they are able to recommend investments based solely upon your specific needs.

CEP is independently owned by Peter J Regan. CEP does not accept payments of any kind from any third party. CEP does not accept commissions, fees, or payments of any kind from any brokerage firm, mutual fund company, bank, or insurance company. Because of this independence CEP is not limited to any subset of investment alternatives and is free to use any investment vehicle or strategy


Client – Centered

Accountability is important in financial planning. While there are many people in the financial services industry who profess to have the client’s best interests at heart, they may still make recommendations that are imprudent or conflicted. NAPFA requires all of its members to sign a Fiduciary Oath; this helps to ensure that each client’s best interests, not the advisors', are always a priority. If a prospective financial advisor states that she/he will not sign such an oath, consider retaining another advisor who will agree to put your interests first and will sign this simple yet compelling statement.

FIDUCIARY OATH

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest which will or reasonably may compromise the impartiality or independence of the advisor. The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client's purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client's business.

What the Fiduciary Oath means to you - the client

• I shall always act in good faith and with candor.
• I shall be proactive in my disclosure of any conflicts of interest that may impact you.
• I shall not accept any referral fees or compensation that is contingent upon the purchase or sale of a financial product.

CEP gives each client a copy of this Oath.

 
Peter Regan is a Certified Financial Planner
Pete Regan is a Registered Financial Advisor
Peter Regan is a Paladin Registry Five Star Advisor
CEP Financial LLC | 9601 Jones Rd., Suite 240 Houston, TX 77065 | Tel: 281-685-9715 Fax: 281-271-8146
© 2016. CEP Financial LLP. All Rights Reserved.  
Design by Webwerks