Nicholas Phelps

Nicholas Phelps CFP®

About Nicholas

“I am a fee-only planner who specializes in comprehensive financial plans.”

I am a fee-only planner registered as an investment adviser in Pennsylvania.  My business is focused on creating comprehensive plans, preparing for retirement, and making asset allocation recommendations.

Education

Bachelors of Science, Economics, Penn State Univ

Certifications

Designations

Registrations

Firm CRD #158682

Certified Financial Planner (CFP) is a designation issued by the Certified Financial Planner Board of Standards

Educational/Exam Requirements:

  • Completion of CFP-board registered study program, or alternative degree or certification, demonstrating mastery of over 100 topics surrounding financial planning
  • Pass 10 hour exam testing knowledge in financial planning situations

Prerequisites/Experience Requirements:

  • A bachelor’s degree (or higher) from an accredited college or university, and
  • Three years of full-time personal financial planning experience

Public Disciplinary Process? Yes

Continuing Education Requirements: 30 hours every two years

Typical Clients

People near retirement Public Employees

How I Can Help

Personal Finance Retirement Investing

Fee Structure

Fee-only Asset-based Commissions Hourly Other Contingency
Learn more about how advisors are paid in our Guide to Advisor Compensation.

Nicholas In The News

Contact:

Phone: (814) 933-0334 Address: 925 West College Ave
State College, PA 16801
nick@phelps-financial.com

Nicholas has answered 12 questions

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Nicholas Phelps
Answer added by Nicholas Phelps | 71 views
4 out of 5 found this helpful

Maybe, depending on your business.  If you simply use it to drive to appointments, like a financial

more »

Maybe, depending on your business.  If you simply use it to drive to appointments, like a financial planner or insurance agent or real estate agent might, then you may simply have to elect a 'business use option' which will cost slightly more than a 'pleasure uses' or 'commuting' option.

If you use it more for commercial or contractor business purposes, on job sites and transporting tools, etc, you may need a business auto policy to be sure you are covered.

Nicholas Phelps
Answer added by Nicholas Phelps | 1341 views
2 out of 2 found this helpful

The answer to that question is 'no', but there is a lot of gray area.  An insurance sales rep could

more »

The answer to that question is 'no', but there is a lot of gray area.  An insurance sales rep could be a financial adviser, but not necessarily.

Some insurance agents will be licensed to sell both insurance and securities/investments, including variable annuities, mutual funds, etc.  They might be 'registered reps' who can sell securities, but not necessarily financial advisers.

A financial adviser might be a CERTIFIED FINANCIAL PLANNER™ practitioner or someone who has passed a series 65 exam for registered investment advisers.  They might sell some of the same products as an insurance agent, or not.  It all depends on business model:

Investment advisers might have a hybrid model where they sell products for commissions as well as charging fees for financial planning & investment advice, or they could be a fee-only adviser who does not sell any products.  A fee-only adviser might charge a flat fee or a percentage of assets for creating financial plans, making investment recommendations, or managing money.

I would encourage you to look into the qualifications of anyone you are considering working with.  What licenses do they have?  Do they have professional certifications?  Experience?  Specialties?  Are they registered as a broker or adviser?  Do they sell products or work on a fee-only basis?  Who to work with depends on what you need and want.

You can look up brokers and advisers here:

http://brokercheck.finra.org/Search/Search.aspx

Registered investment advisers have a Form ADV that explains the details of their business.

You can search for an adviser via the FPA plannersearch:

http://www.fpanet.org/PlannerSearch/PlannerSearch.aspx

Nicholas Phelps
Answer added by Nicholas Phelps | 26 views
1 out of 1 found this helpful

Many people might skimp on business insurance, but I would not recommend it.  Be sure to get insurance

more »

Many people might skimp on business insurance, but I would not recommend it.  Be sure to get insurance coverage; because if something were to happen and you are without insurance, your personal assets will be at stake.  That is not a risk worth taking.

Nicholas Phelps
Answer added by Nicholas Phelps | 23 views
1 out of 1 found this helpful

Yes.  I worked in homeowners insurance years ago, and many times when quoting or writing a policy

more »

Yes.  I worked in homeowners insurance years ago, and many times when quoting or writing a policy I would see a claim (water damage, for example) that occurred on that property under a previous owner.

Nicholas Phelps
Answer added by Nicholas Phelps | 46 views
1 out of 1 found this helpful

In my experience a few years ago, insurance companies will definitely want to know about any licensed

more »

In my experience a few years ago, insurance companies will definitely want to know about any licensed drivers who are in your household because there is a chance they will end up driving your car; the insurance will be rated accordingly.

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