Question 1

Will I be working with a real person at New Beginning Financial Group?

Accepted Answer

Yes, at New Beginning Financial Group, you will be working with real, experienced professionals dedicated to providing personalized financial planning & wealth management and tax advisory services. Our team comprises seasoned financial professionals who take the time to understand your unique needs and offer tailored solutions. Whether you're seeking advice on financial planning, tax compliance, or other matters related to your finances, you can trust that our knowledgeable staff will guide you every step of the way. We pride ourselves on building strong, trust-based relationships with our clients, ensuring you receive the highest level of service.

Question 2

Will I be meeting with New Beginning Financial Group in person or via Zoom??

Accepted Answer

New Beginning Financial Group values personal connections and aims to provide a personalized experience for each client. Whether it's in-person meetings at our local office or virtual via Zoom, the focus is on building a strong client-advisor relationship to understand and address your financial needs effectively.

Question 3

Why should I work with a tax professional?

Accepted Answer

Working with a tax professional can help ensure that your taxes are prepared accurately, maximize your deductions, minimize errors, and potentially save you money in the long run. Tax professionals are knowledgeable about tax laws and regulations, staying up-to-date on changes that could affect your tax situation. They can also provide valuable advice on tax planning and strategies to optimize your financial situation.

Question 4

What tax software solutions does New Beginning Financial Group use?

Accepted Answer

New Beginning Financial Group utilizes leading financial software solutions such as Xero, QuickBooks, Gusto, ADP, and Bill.com to streamline tax, bookkeeping, and accounting processes. These software tools enhance efficiency, accuracy, and client service, ensuring that financial needs are met effectively and professionally.

Question 5

What are the benefits of working with a Certified financial planning & wealth management professional FPWMP®?

Accepted Answer

Working with a certified Financial Planning & Wealth Management Professional (FPWMP®) can provide personalized financial advice, help you set and achieve financial goals, create a comprehensive financial plan, optimize your investments, and navigate complex financial situations. Financial planners can offer expertise in areas such as cash management, debt management, retirement planning, tax planning, and risk management, tailored to your specific needs and objectives.

Question 6

Which insurance companies does New Beginning Financial Group, LLC work with for life insurance and annuities?

Accepted Answer

New Beginning Financial Group, LLC partners with top insurance companies such as Allianz Life, Lincoln Financial, Athene Annuity, Mutual Trust Financial Group and many others to provide comprehensive life insurance and annuity solutions to our clients.

Question 7

What services are included in your personal financial management services?

Accepted Answer

At New Beginning Financial Group, LLC our comprehensive financial management services are designed to address the diverse needs of our clients, aligning with both finance and law to provide holistic and tailored guidance.

Our services include:

1. Retirement Planning: We help you design a robust retirement strategy that ensures financial stability and peace of mind for your later years.

2. Investment Management: Our team provides personalized investment advice to grow your wealth while aligning with your risk tolerance and long-term goals.

3. Tax Planning: Our experts analyze your financial situation to optimize tax efficiency, aiming to minimize liabilities and maximize savings.

4. Estate Planning: We offer guidance on structuring your estate to ensure your assets are distributed according to your wishes, with an emphasis on legal compliance and tax efficiency.

5. Debt Management: We assist in creating effective strategies to manage and reduce personal or business debt, improving your overall financial health.

6. Insurance Planning: We evaluate your insurance needs and recommend policies that protect your assets and provide peace of mind.

7. Education Funding: Provides advice on the best strategies for funding education, ensuring the financial readiness for educational expenses.

Our holistic approach ensures that all aspects of your financial life are considered and optimized, offering you peace of mind and a clear path toward your financial goals.

Contact us to learn more about how New Beginning Financial Group, LLC can help you secure your financial future.

Question 8

What is the difference between a Virtual CFO and Fractional CFO?

Accepted Answer

While often used interchangeably, a "virtual CFO" primarily works remotely, providing strategic financial advice and planning through digital tools, while a "fractional CFO" may work both remotely and on-site, offering a more hands-on approach to financial management, often with a greater level of involvement in day-to-day operations depending on the business needs; essentially, the key difference lies in the level of physical presence and direct interaction with the company.

Key points to remember: 
Location: A virtual CFO works entirely remotely, while a fractional CFO may have some on-site meetings depending on the situation. 
Focus: Virtual CFOs generally focus more on high-level financial strategy, forecasting, and budgeting, while fractional CFOs can handle more operational tasks alongside strategic planning. 
Client interaction: Virtual CFOs typically have less direct interaction with the company compared to a fractional CFO who may be more involved in daily financial management.

When to choose a virtual CFO: 
Need for strategic financial guidance and analysis without extensive on-site presence
Smaller budget and looking for cost-effective financial support
Startup phase requiring initial financial planning and structure

When to choose a fractional CFO: 
Require more hands-on financial management and operational support 
Need regular, in-person meetings and collaboration with the leadership team 
Want a closer level of involvement in day-to-day financial decision-making

Question 9

What is the difference between personal, objective and strategic financial management?

Accepted Answer

"Personal" refers to something related to an individual's own thoughts, feelings, and experiences, while "objective" means looking at something in a neutral, factual way without personal bias, and "strategic" describes a planned approach or high-level plan to achieve a specific goal, often considering broader factors and long-term implications; essentially, "personal" is about your individual perspective, "objective" is about facts without personal opinions, and "strategic" is about a calculated plan to reach a desired outcome.

Example: 
Personal: "My personal goal is to improve my public speaking skills." (Focuses on an individual's desire) 
Objective: "To increase sales by 15% in the next quarter." (A measurable, neutral statement of what needs to be achieved) 
Strategic: "To expand our market share by launching a targeted marketing campaign on social media platforms." (A planned approach to achieve the sales goal, considering various factors).

Key points to remember:
Personal: Individual perspective, emotions, and values
Objective: Factual, unbiased, and measurable
Strategic: High-level plan, considering various factors to achieve a goal

Question 10

How much does it cost to join the PFM online community?

Accepted Answer

The Personal Financial Management (PFM) online community is FREE to join. The free version comes with many great features such as online community groups, educational courses, on-demand videos, live training, etc... For those who are seeking a more hands on experience, we offer a 12 month Personal Financial Management (PFM) coaching experience for a on-time financial commitment of $750 with access to 12 one-on-one monthly coaching sessions with a certified FPWMP® - You will also receive access to exclusive workbooks that are only available with a PFM Advisory Plan.

Question 11

What learning institution does NBFG use to receive their certification skills?

Accepted Answer

Our term of financial professionals have taken course at Corporate Finance Institute, the #1 rated online provider of finance and banking training trusted by 2 million+ professionals and leading organizations.

CFI's Financial Modeling & Valuation Analyst (FMVA®) Certification imparts vital financial analysis skills, emphasizing constructing effective financial models for confident business decisions. This comprehensive program ensures mastery in modeling, budgeting, forecasting, and overall competency in accounting and finance.

CFI’s Business Intelligence & Data Analyst (BIDA®) Certification Program cover both BI and data science, spanning data storage, collection, transformation, analysis, modeling, and visualization. We are equipped with best practices in various scenarios, applying skills through real-world case studies and datasets.

CFI’s Commercial Banking & Credit Analyst (CBCA®) Certification Program propels your commercial lending career with essential skills for starting or advancing a commercial lending career. This comprehensive program supports growth in roles like commercial banker, credit analyst, risk manager, or private lender, covering financial analysis, credit structuring, and qualitative skills such as management and industry analysis, effective business and credit writing, and sales and relationship management.

CFI’s Financial Planning and Wealth Management (FPWMP®) program will equip you with the skills, knowledge, and tools to become a successful financial planner or wealth advisor. We have the skills to build and grow a practice to advise a wide range of clients with varying levels of complexity, learning the economic, financial product, and portfolio management skills necessary to to better serve our clients.

CFI's FinTech Industry Professional (FTIP®) certification equips you to be at the forefront of this revolution, shaping industry trends and driving innovation. The FTIP program delivers practical insights into InsurTech, WealthTech, digital banking, cryptocurrencies, payment technology, RegTech, data science, financial analysis, and more. With the FinTech industry projected to reach $1.5 trillion by 2030, it presents a wealth of opportunities for professionals skilled in finance, banking, and technology.

Question 12

What is the difference between a financial planner and a financial advisor, and how does NBFG, LLC support clients in these areas?

Accepted Answer

At NBFG, LLC, we understand that the terms financial planner and financial advisor are often used interchangeably, but they have distinct roles in personal finance management. A financial planner primarily focuses on creating comprehensive financial plans tailored to your long-term goals, including budgeting, debt management, retirement planning, and estate strategies. In contrast, a financial advisor offers broader investment advice and management services, which may include buying and selling investments and ongoing portfolio oversight. A financial advisor may hold liceses like Series 7 or Series 65. As a Personal Finance Community specializing in tax advisory, NBFG, LLC integrates both approaches by designing detailed financial plans while actively managing wealth and tax strategies to optimize your financial outcomes. Our team works closely with families and businesses to provide personalized, holistic advice that addresses both planning and investment needs, ensuring your financial future is well-structured and tax-efficient.

Question 13

What are the main types of financial planning services offered by NBFG, LLC, and how can they benefit my family's or business's financial health?

Accepted Answer

At NBFG, LLC, we focus on four main types of financial planning to help families and businesses achieve long-term financial stability and growth. Cash flow planning ensures you manage income and expenses effectively, providing clarity on budgeting and liquidity needs. 
Tax planning leverages our expertise in tax advisory services to minimize liabilities and optimize returns legally. 
Investment planning helps tailor strategies to grow your assets based on your risk tolerance and goals. 
Retirement planning prepares you for a secure future by creating a roadmap for savings, income streams, and risk management. Together, these services offer a comprehensive approach that aligns with your unique financial situation and objectives.

Question 14

Should my company or organization hire a full-time salaried CFO or outsource accounting services using a virtual CFO?

Accepted Answer

Deciding between hiring a full-time salaried CFO and outsourcing accounting services through a virtual CFO depends on your organization’s size, financial complexity, and budget. A full-time CFO is ideal for larger companies requiring hands-on leadership, strategic financial planning, and constant oversight of complex operations. However, it involves a significant salary commitment and benefits costs. Alternatively, NBFG, LLC recommends considering a virtual CFO for small to mid-sized businesses or organizations seeking flexible, cost-effective financial expertise. A virtual CFO provides high-level financial guidance, tax advisory, and strategic support on an as-needed basis without the overhead of a full-time executive. This approach allows access to expert financial planning and wealth management services tailored to your specific needs while optimizing resource allocation. Ultimately, NBFG, LLC’s personalized approach ensures each client selects the option that best aligns with their financial goals and organizational structure.

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