Frequently Asked Questions

  • I’ve worked in the financial services industry since 2011. I founded my firm back in 2015 after desiring to serve underserved individuals and families needing financial planning and have been serving clients ever since.

  • I’ve been a CERTIFIED FINANCIAL PLANNER™ since 2017 and a Certified Kingdom Advisor® since 2019.

    On top of that my firm is a Registered Investment Advisor (RIA) and I’m an Investment Advisor.

  • Yes. Prospurpose Wealth is established as a Registered Investment Advisor (RIA) and must maintain a fiduciary standard of care. This means that I’m bound by law to act solely in the best interest of my clients.

  • There’s been an emergence within the last 5-10 years of financial planners becoming ultra specific in who they serve. This is called “niching”. I’ve chosen to niche in Millennials that are in their early to mid-career stage and those that receive equity/stock compensation. This means that I work with a lot of individuals in the tech industry.

    I’ve become particularly familiar with providing value to these types of professionals.

  • Millennial tech professionals, Dual Career Millennial couples, and professionals that receive equity compensation.

  • Yes. I can work with professionals in other industries. However, the criteria and complexity must be met in order for it to make sense to work with me.

    For example, it may not make sense to pay my minimum fee for very little complexity.

  • Investing and investments are typically the first things people think of when they hear financial advisor. Investing is an important role within personal finances but it isn't any more important that cash flow, debt elimination, proper insurance, etc.

    My approach is to give it the respect that it deserves as a long-term wealth building tool BUT to give our active focus to the things we can control in the short-term.

    I believe in a rather passive approach. This includes picking low-cost investments that give access to the broad stock market while keeping buying and selling to a minimum.

    I do NOT believe in market timing or shorting as viable long-term solution in building wealth.

About Prospurpose Wealth

Should YOU work with Prospurpose Wealth?

  • That's alright! There are many planners out there that serve specific client "niches". I’d love to help you find a financial planner that's better suited for you.

    Some great places to start looking are XY Planning Network, NAPFA (National Association of Personal Financial Advisors), and the Garrett Planning Network.

    You can also reach out to me with some information about yourself and what you’re looking for and I’ll try and connect you with a planner in my network.

  • No. Ongoing clients receive investment management regardless of the size of their investment portfolio.

    This is because the planning relationship involves making several financial decisions that help in accumulating wealth.

  • Yes! In fact, many of my clients live in different cities and states. In today’s high-tech environment, more and more can be done virtually and online. I can meet with all prospects and clients via video call.

    I do however only work with US citizens for regulatory and compliance purposes.

  • Since the prices for my services periodically change, you can visit my pricing page to see the current prices.

  • One flat annual fee (paid monthly or quarterly) is the most transparent (I personally hate feeling nickel and dimed) AND it’s the best way to reduce conflicts of interest.

    Rest assured that you won’t have to worry about commissions, kickbacks, or pressure to move investments to my management for an additional percentage-based fee.

  • Yes. Investment management is an included service for my ongoing clients.

  • No. This is another great aspect of the flat annual fee. You’ll receive the same advice regardless of where your investments are held. If you feel more comfortable keeping your investments at another custodian/platform then more power to you.

    However, I will say that there could be complications if another advisor has direct management over some of your investments and there’s differing opinions on how to manage those investments.

    Finally, part of the fee includes investment management so it could be a way to give you back more time all while ensuring the recommendations get carried out accurately and in a time conscious manner.

  • If you think you’re a good fit to partner with me then you can start here to get the process started.

What’s it like to work with Prospurpose Wealth?

  • I get paid a flat annual fee (paid monthly) directly from my clients, and only my clients, for providing ongoing advice.

    I do not receive any commissions, kickbacks, or any other hidden fees.

  • Absolutely. I do not have any “firm” or “hard” contract periods. One of the beautiful things about a fee-for-service relationship is that you can end the engagement if your circumstances change or if you aren’t receiving the value you should.

    With that being said, the value of the work I do only grows and compounds over time. There are many ever changing variables, including the future, but the hope is to invest in ver long-term relationship

  • Financial planning is very broad and rightly so. It involves any area that impacts someone’s personal finances.

    Head on over to my pricing page to see what I typically work with my clients on.

  • For my ongoing clients, we’ll go through an initial financial plan once they first come on board.

    After that, they will roll into the routine service model and routing meeting schedule (2-4 meetings per year).

    Once we get into a routine service calendar then I will re-review the relevant areas of financial planning and present new recommendations as life changes.

    We’ll meet virtually via Zoom and we can also meet as needed (e.g. liquidity event, large financial decision, etc.).

  • You can expect to have access to me via phone, text, or email. As a client, you can expect a response within 24-48 hours, at the latest, unless stated otherwise due to certain circumstances.

DIY & Other Resources

  • Yes! Some of my favorite books I recommend beginners read are:

    -The Psychology of Money (Morgan House)

    -I Will Teach You To Be Rich (Ramit Sethi)

    -Atomic Habits (James Clear)

    You can also follow me on Twitter (@DonovanBrooks_) for daily personal finance content.

  • XY Planning Network, NAPFA, Fee-Only Network, and the Garrett Planning Network are all great places to start.

    Also, don’t hesitate to reach out to me if you want me to help connect to you someone in my network.