Due Diligence
Trust, but verify.
Whatever sources and methods you use to find information on people, you should do the same with every financial professional you work with. Trusting someone for financial advice should not be done lightly. With the number of social media finance influencers and unregulated "advisors" selling programs and products that "guarantee" overnight riches, you should be skeptical.
Below are some free tools & resources and FAQs.
Free Tools & Resources
Search for information on Registered Investment Advisory firms and individual Investment Adviser Representatives. You should review the "ADV" and "Part 2 Brochures".
Financial Industry Regulatory Authority (FINRA) website to check to see if someone is registered to sell securities and/or give investment advice.
Free tips and resources provided by the Securities & Exchange Commission (SEC) Investor.Gov website.
Free tips and resources provided by the North American Securities Administrators Association (NASAA).
Search for individuals who have been the subject of an SEC federal court action or administrative proceeding.
Search by state to find the regulatory points of contact.
Steps to take when choosing a tax return preparer.
Frequently Asked Questions
How do you get paid? What are the actual costs?
I'm paid by financial planning fees only. Regardless of which service you select, you'll pay a flat fee / fixed-fee. I don't currently offer hourly billing, subscription pricing, billing by the amount of Assets Under Management ("AUM"), or anything other than transparent flat fees. Please see the Services & Fees page for more details.
Are you a fiduciary?
Yes. As a Registered Investment Adviser, I am required by law to place your interests above my own and base all decisions on this ethical standard. You’d think this would be the standard across the entire industry, but it’s not. I am required to provide impartial, prudent advice that's appropriate for your unique situation. The fiduciary standard includes a duty of care and a duty of loyalty. Here's a good article from Forbes that talks about the fiduciary standard and another from Seeking Alpha discussing fiduciary vs. suitability.
Do you sell insurance, annuities, or any other products?
No. I'm not licensed/registered to sell products. The only service I provide is advice.
Who else benefits from the advice you give me?
Directly – nobody else benefits. I don't sell products, receive commissions, or get referral fees. I have no affiliation with any banks, insurance companies, brokerage firms, or any other advisors.
Indirectly – large, low-cost brokerage firms and other companies within the financial industry may indirectly benefit simply based on the advice I give. As part of my investment strategy, I believe that keeping fees low and portfolios simple is vital. With that, I tend to suggest the use of large, reputable, low-cost brokerage firms that offer broadly diversified passive mutual funds/ETFs. I have no affiliation and receive no compensation from any of these companies.
Who will I be working with?
Tyler Weerden is the sole Investment Adviser Representative at Layered Financial.
Will you manage my money for me?
No. I'm an advice-only, fee-only financial planner. Under no circumstance will I manage your money or place trades (buy/sell securities) for you. I will not take custody of your money or have any discretion to make decisions or take actions within your accounts. I’m not legally registered to provide that type of service, nor is it something I’m interested in doing. Instead, I’d rather empower you with the knowledge and information you need to make informed decisions and manage your own money.
How will we communicate if I become a client?
We will communicate primarily by email and video calls. All video calls are conducted via Microsoft Teams for compliance reasons. Due to the regulatory and compliance requirements surrounding client communications, I do not provide financial planning or advice via text message.
If we happen to be in the same area, we can also meet in person.
Any documents containing personally identifiable information will be securely uploaded via Microsoft OneDrive file sharing links.
How do you approach financial planning and overall wealth building?
Please feel free to review the Financial Planning Approach & Principles page for insight as to my philosophy on building wealth and financial planning.