Nancy Gimmestad, CFP®, a financial planner and investment advisor since 1984, specializes in retirement planning and the supervision of investments. She helps her clients analyze where they are on the road to retirement and what they need to do to maintain financial independence without a paycheck. She then helps them develop a plan for reaching that goal. The formulation of the plan includes the selection of the best benefit options for pension plans and Social Security, a determination of the best time to retire, investment recommendations and, in some cases, exploration of options for living arrangements and/or lifestyle changes.
For clients who want assistance in keeping their investments on track, she also provides investment advice and supervision. (The difference between investment supervision and investment management is that supervision involves the client in investment decisions.)
Nancy works personally with each of her clients—she has no associates—and tailors her services to each unique individual..
Nancy is a Certified Financial Planner™. She is also registered with the State of Minnesota as a Registered Investment Adviser (RIA), The registration authorizes her to give investment advice and to charge a fee for that service.
Nancy was born and raised in Dawson, Minnesota. She holds the following academic degrees: Ph.D. (The University of Michigan), M.A. (Middlebury College) and B.A. (St. Olaf College). Prior to her work in financial services, she was an English teacher, first in high schools and then as at The University of Wisconsin - Madison. Following her career in education, she worked as an administrative aide for the Minneapolis City Council. She has been a financial planner and advisor since 1984.
Her professional training includes the introductory instruction in financial planning at IDS. She has also completed the following courses from the College for Financial Planning: Introduction to Financial Planning, Risk Management, Investments, Tax Planning and Management, Retirement Planning, Employee Benefits and Estate Planning. She continues to participate in professional shops.
All of Nancy’s compensation derives from fees for services. Fees are not negotiable and are not refundable after the receipt of service.
She does not charge for informational interviews. Incidental consulting, including research and analysis, is billed at an hourly rate. Retirement planning is usually priced at a flat fee, based on the time required and the complexity of a client's financial life.
The planning fee is waived for clients who engage Nancy’s services as an investment advisor. The fee for ongoing supervision of investments is a percentage of assets under supervision, based on the size of the investment portfolio and the location of the client:
Nancy receives no remuneration from third parties—attorneys, insurance agents, mortgage brokers, or other practitioners--to whom she may refer clients. Nor does she receive any remuneration from the brokerage firms housing her clients' investments. She does have access to research tools provided by these firms, but the value of those tools is nominal and largely duplicative of other research services to which she subscribes.
Either Nancy or a client may terminate an agreement for planning services, without charge to the client, within five days of signing an agreement. After five days, either party may terminate an agreement through written notice to the other Any prepaid feeds in excess of charges for time and materials already expended will be refunded.
A client whose planning fees have not been waived may terminate an agreement for investment supervision with the same provisions applying to financial planning clients.
A client whose planning fee has been waived may terminate an agreement for investment supervision once the quarterly payments for supervisory fees have equaled the planning fee. At that time the client may terminate an agreement through written notice.