Frequently Asked Questions

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Who we are?

How long has PAX Financial Group been in business?

Darryl Lyons, Joseph Schuetze, and Andres Gutierrez established PAX Financial Group, LLC in January, 2007. All three individuals had successful careers for Fortune 100 companies but shared a common passion for an independent approach to financial advice.

What differentiates PAX Financial Group from other financial investment firms?

PAX Financial Group was founded on the principles of offering unbiased non-proprietary independent investment advice. PAX Financial is not restricted to proprietary investment options as other investment firms. This flexibility offered through LPL Financial allows each advisor to customize investment advice tailored specifically for each client. This ensures everyone is offered the most appropriate investment choices available to them.

Are you a Licensed Professional?

Every advisor is properly registered as a Registered Investment Advisor Representative or a Registered Representative of LPL to conduct business in the State of Texas. Registration is governed by the Securities and Exchange Commission and FINRA.

Who is LPL Financial?

LPL Financial is our Broker Dealer firm which allows us to operate as a truly independent financial guidance and advisory firm. Through their open-architecture platform we are able to provide multiple services to our clients. This includes but is not limited to, advisory management, independent research and mutual fund investing. For more information about LPL Financial please visit: www.LPL.com

Who is 360 Wealth Management?

360 Wealth Management is a Registered Investment Advisory firm based out of Dallas, TX. They have joined our team to assist in the compliance oversight division of our firm. They provide extensive knowledge in the intricacy of compliance rules and regulations. Although they provide compliance oversight, LPL Financial serves as custodian.

Account Information Questions

What is your minimum investment to open an account?

You can start an investment account with as little as $50 per month

What is DocuSign and is it secure?

DocuSign is a highly reputable electronic signature service used by thousands of corporations around the world. DocuSign is a faster, more secure way to send, sign and monitor documents. They provide a very high level of security assurance and data encryption. This service saves time and paper while increasing efficiency.

Who to make checks payable to?

Checks are made out to “LPL FINANCIAL” OR the mutual fund company where your account is held (i.e. American Funds) but never to Pax Financial Group. If you are not 100% sure where your account is being invested please contact our client service team at 210-881-5700 we will be glad to assist.

How do I view my accounts online? Go Paperless?

You may view your account online through a complimentary service call “LPL Account View”, to setup your access please go to www.myaccountviewonline.com with your LPL Account number or simply call our office.

If your accounts are held with Mutual Fund companies directly (i.e. American Funds) we highly recommend setting up the online access via their website. With your account number go to www.americanfunds.com input the last four of your social and then proceed with setting up your profile. If you have any questions please contact our office at 210-881-5700.

If I need access to my investments, how long does it take to liquidate and receive funds?

For many transactions, liquidations can occur immediately and must be confirmed verbally, depending on the method of delivery chosen, liquidation can be received within 7-10 business days for standard mail or 3-5 business days for direct deposit. Please contact client services if you decide to liquidate an account. The associate will guide you through the process and expected time frame. Signed paperwork may be needed in some cases.

Can I download my account transactions to quicken or export to excel?

Yes, all transaction information is stored securely within your LPL Account View webpage. On the home tab you will see an option “Download to Quicken” located above your account summary details. In order to download your transactions to Excel simply go to your transactions tab and on the far right choose either “CSV” of “XLS” icons to begin the download process.

How can I update my account beneficiaries?

Account beneficiaries can be updated at any time regardless of it being a primary or contingent. Each company is different depending on where your investments are held; please contact our client service team to provide you with the necessary forms at 210-881-5700.

How do I start making monthly contributions to my account

You are able to establish banking information rather quickly by completing a form specifying the amounts and date of withdrawal. Depending on your account, you may establish your monthly contributions online. Please contact our client service team for more details at 210-881-5700.

Recently married/divorced, who must I notify?

Please contact our office to obtain all necessary forms to update your account registrations and beneficiaries, if applicable.

Recently established a family trust, what is next?

Please contact our office to obtain the necessary documents to update registrations or beneficiaries on your accounts. Each account is a separate entity so there will be multiple documents depending on your specific needs. It may be necessary to schedule a meeting to complete all forms but rest assured we will be here with you every step of the way.

How do I update my contact information or mailing address?

You are able to update your contact information via our website at www.paxfinancialgroup.com under “Client Center/ Update Your Information” or by simply calling our office at 210-881-5700. Our receptionist will be happy to assist.

How do I setup bank information to transfer funds from my bank account?

A simple document will allow you to setup this feature with LPL Financial. Other investment companies (i.e. American Funds) allow you to add the information via their website. Please contact our office to gather the proper information for your specific needs.

Can I combine all my statements into one envelope?

Yes, you certainly have the option to reduce multiple statements into one envelope. Please contact our office for this benefit at 210-881-5700

Tax Related Questions

What are the foreign taxes listed on my 1099?

Mutual funds are often required to pay foreign taxes on earnings from their investments outside the United States. You may claim a foreign tax credit or deduction for your share of the foreign taxes paid by these funds. Please consult with your tax advisor.

How do I locate my cost basis?

When available, cost basis information is included on the Form 1099-B mailed to you in late January. You may also view cost basis information on your account statements all throughout the year. Cost Basis information is only applicable to Non-Retirement Accounts. (i.e. Joint Accounts & Individual Accounts)

Why did I receive a tax form 5498 in May?

Form 5498 is sent in late May because you have until the tax filing deadline in April to make prior year IRA contributions. You are not required to attach a copy of Form 5498 to your income tax return.

When will I receive my 1099?

Most tax forms are mailed in late January but may be extended depending on the mutual fund company reporting method. However, keep in mind that not all accounts will generate a tax form.

What is the IRA maximum limit per year?

Maximum IRA contribution limits vary per year due to congressional changes, however, the current IRA limits for 2014 & 2015 are as follows:

Under age 50: $5,500
Over age 60: $6,500

*Higher household annual incomes may prevent you from making Deductible IRA or Roth IRA contributions per year, please consult with your tax advisor/financial advisor for specific details about eligibility*

General Questions

Can I meet with you to open an account for my elderly parents who can’t come in the office?

Yes, most clients in this particular situation must furnish power of attorney documents in order to open accounts for their parents. Please contact our office for specific details if you find yourself in this specific scenario.

How long is a typical meeting?

All appointments can be completed between 1 to 1 ½ hours depending on the number of questions asked.

Is there a cost to meet with an advisor?

There is no cost to meet individually with an advisor, the advisor will discuss any fees associated with investing should you choose to do business with PAX Financial Group.

Can I invest for my kids?

Many investment vehicles are available to fund a custodial account for a minor. Accounts range from Coverdell Education Savings Accounts (ESA), Uniformed Gift to Minors Account (UTMA) or custodial Roth IRA’s (subject to income verification); please consult with your financial advisor to determine which account can help you work towards your goals.

Can you help with budgeting?

Your financial advisor is not able to assist with personal budgeting; however, Dave Ramsey offers a tremendous amount of tools available online 24/7 that will guide you step by step on budgeting:
http://www.daveramsey.com/category/tools/?snid=tools (Dave Ramsey and services is not affiliated with LPL Financial or PAX Financial Group.)

Can you advise me on my 401k plan at work?

Yes please consult with your financial advisor to construct a plan identical to your risk tolerance and time horizon

Should I factor social security into my retirement income?

No, we collectively approach retirement with the expectation of not receiving social security income due to its uncertainty of longevity in the future. Our financial planning does not account for social security income; this enables us to project a more common outcome for our clients.

Types of Accounts

What are some differences between a Roth IRA and a Traditional IRA?

A Traditional IRA is funded with contributions which may be tax deductible, and if so, can help reduce your taxable income (subject to limitations), a Roth IRA is funded with after-tax dollars (net take home pay) and both accounts can grow tax deferred until retirement. A Traditional IRA will be 100% taxable when withdrawn in retirement (over age 59 ½), otherwise, a 10% penalty tax may apply. The Roth IRA will be 100% tax free if withdrawn during retirement (over age 59 ½ & held for more than 5 years). Otherwise, taxes and penalties may apply on earnings withdrawn.

What happens to the 529 plan if my child doesn’t attend college or receives scholarships?

The 529 Plan Owners will have the option of changing the beneficiary of the account to another family member of their choosing or closing the account. If the funds do not pay for college expenses the account owner is subject to paying income taxes in addition to a 10% penalty on all earnings. Please consult with a tax advisor before considering closing a 529 plan.

What are some differences between a Coverdell Education Savings Account (ESA) and a 529?

Both plans offer tax-free treatment if used to pay education expenses. The difference is an ESA can be used for any qualified elementary and secondary (k-12) schooling costs in addition to qualified higher education expenses. ESA contributions are limited to $2,000 per child annually. 529 plans are only tax-free if used for qualified higher education expenses. If not used for qualified expenses, portions of withdrawals from both types of accounts may be subject to taxes and penalties. Consult with your financial advisor to discuss other differences and determine which option is best for your family.

*Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Investing involves risk including loss of principal. No strategy assures success or protects against loss.

Net Worth Planning

PAX Financial Group’s Net Worth Planning Process

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