Last revised on January 26, 2024
Welcome to your Morrow Membership! We are pleased to be working with you. This agreement gives you important information about the work that we (Morrow) will do for you, how you will pay for services and how we will be paid for the work that we will do for you. Review this document carefully and let us know if you have any questions.
You have engaged us to provide financial planning. As defined by the CFP Board, Financial Planning is “A collaborative process that helps maximize a Client’s potential for meeting life goals through Financial Advice that integrates relevant elements of the Client’s personal and financial circumstances.”
The terms of this engagement may include:
Exceptions: BECAUSE WE ARE NOT A REGISTERED INVESTMENT ADVISOR FIRM, WE CANNOT PROVIDE ANY INVESTMENT ADVICE, ADVICE ABOUT SECURITIES, OR OPINIONS ABOUT SECURITIES THAT MAY BE VIEWED AS INVESTMENT ADVICE.
On occasion, we provide financial advice services to members seeking answers to specific financial questions related to savings, goals, debt management, retirement savings, risk management, and estate planning.
This is not a substitute for comprehensive financial planning. Comprehensive financial planning involves understanding the client’s complete financial picture including goals, family situation, cash flow, savings, insurance, investment, and estate and tax implications. Because the scope of advice for this service is limited, we cannot provide comprehensive planning.
Your engagement agreement will continue in effect until terminated by either party. Either party may terminate the financial planning agreement by providing written notice. Upon termination of any engagement, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable up to and including the effective date of termination.
a. Analyzing the progress you have made toward achieving your goals; and
b. Updating your financial plan based on new information provided.
Morrow financial planning services are paid for as a membership subscription. You will not incur additional fees from Morrow. Financial planning fees will be charged on a monthly subscription service basis. Financial advice fees will be charged in advance. If we recommend any outside services, you will be responsible for covering those costs. We have a fiduciary duty to place your interests first.
The fees for financial planning and financial advice services will not change due to complexity of the process undertaken, the types of issues addressed, the scope of services provided and the frequency with which the services are rendered. Morrow Group, Inc. charges a monthly fee of $40 for ongoing Financial Planning engagements. For Financial Advice Only engagements, Morrow charges a fee of $50 for two 30 minute calls. When offered as an employee benefit, this fee may be paid in part or in full by the employer. The monthly subscription fee will be charged on a monthly basis. All charges are agreed upon before entering into the Financial Planning and Financial Advice Agreement. Lower fees for comparable services may be available from other sources.
Morrow does not accept compensation for the sale of securities or other investment products, including asset-based sales charges or service fees from the sale of mutual funds and insurance backed securities products, such as fixed and variable annuities.
CFP® practitioners are required to disclose any material facts regarding any legal or disciplinary actions or bankruptcy that would be material to the client’s evaluation of the financial planner providing financial planning to the client. We have no information of this type to report.
A conflict of interest arises whenever we have an interest that is different from yours. Conflicts of interest can affect the recommendations we give you. We have policies and procedures designed to help manage conflicts of interest, however they may still arise. When a conflict of interest arises, we will provide verbal or written notification of the conflict. If you are concerned about a conflict of interest and how it might affect your membership, please discuss with your Financial Coach, or send an email to navigation@usemorrow.com.
Morrow has a network of trusted partners that provide solutions for our members that add convenience and value to their lives. When member needs are uncovered, Morrow may offer members product recommendations from trusted partners to resolve the need. All trusted partners have been diligenced and approved by Morrow’s vetting process to ensure alignment with our values and quality. Whenever Morrow recommends products from trusted partners, we maintain our commitment to transparency and will disclose the details of the arrangement. Morrow may receive referral compensation for these arrangements which creates a conflict of interest because Morrow has a financial incentive to promote these services. However, Morrow Financial Coaches do not have a sales quota and have no compensation incentives tied to recommendations.
It is your responsibility to provide accurate and complete information about your personal and financial circumstances, and to update the information as needed. Refusing to provide requested information could result in the limitation of the scope of our planning session or termination of our professional relationship. Your planning session reports will be uploaded to your Morrow account after each session. You should review these documents carefully to ensure accuracy.
Morrow has constructed and implemented stringent policies about protecting and sharing your nonpublic personal information.
Personally identifiable information about you will be maintained during the time you are a client, and for the required time thereafter that such records are required to be maintained by federal and state securities laws, and consistent with the CFP Board Code of Ethics and Professional Responsibility. After this required period of record retention, all such information will be destroyed.
We may be asked to disclose client data to the CERTIFIED FINANCIAL PLANNER™ Board of Standards, Inc. (CFP Board) as part of complying with CFP Board’s Code of Ethics and Professional Responsibility and Disciplinary Rules and Procedures. If you prefer that we do not disclose nonpublic information about you to the CFP Board, you may opt out of this disclosure by notifying us via email.
Additionally, before your first meeting with a Financial Coach, you will be sent a copy of Morrow’s privacy policy. A copy of our privacy policy can be found here: https://www.usemorrow.com/privacy-policy
We are excited to get started, and look forward to getting to know you better. You may reach out to us at navigation@usemorrow.com with any questions.
All the best,
The Morrow Team
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