Frequently Asked Questions
What qualifications does Michael Didion have?
Michael has nearly 15 years of experience in the financial services industry. He holds his Series 6, Series 7, and Series 66 registrations which are held through LPL Financial. He is also a Certified Financial Planning professional CFP® , Enrolled Agent with the IRS, and has his Master's in Business Administration from the University of Colorado at Colorado Springs. In addition, Michael also holds his life and health insurance licenses in Colorado and Arizona, as well as the Accredited Asset Management Specialist (AAMS) designation through the College for Financial Planning.
What makes Michael and Didion Wealth Management different than other financial advisors and firms?
Didion Wealth Management is an independent wealth management practice. Our independence allows us to truly serve our clients the way they need to be served. We are not constrained by a large corporate firm that dictates how the advisor must serve their clients. Moreover, Michael's experience and education give him a comprehensive understanding and ability to provide customized investment management advice, retirement planning, and tax planning to help clients plan to achieve their goals. This defines the distinct value of Didion Wealth Management in the ability to offer customized and comprehensive tax planning strategies, retirement, and investment management services to its clients. We also affiliate with LPL Financial, the nation's leading independent broker-dealer, as reported by Financial Planning magazine, 1996-2025, based on total revenue, to custody client assets and to provide industry leading investment guidance from LPL research. To learn more about LPL Financial Click Here.
Are you fee-only?
We are not fee-only. We're something better. We're fee-based when working in a fiduciary capacity for advisory clients. That said, we primarily help clients with wealth management and financial planning on a fee basis. However, in certain situations, it may make sense to not charge using fees and instead use a commission structure. We have the flexibility to choose whatever compensation and pricing model that we need to suit the client's needs and situation. Of course, we disclose and are transparent with whatever pricing model we use for a client.
Are you a Fiduciary?
Working in a fiduciary capacity for advisory clients, I strive to put your needs first and act in your best interest. Before my own, before my practice's, and before my firm's. As a Certified Financial Planning professional, CFP®, I am required to act in a fiduciary role when I am advising clients. Also, when I am providing advisory services as an Investment Advisor Representative, I'm required to act as a fiduciary for clients. If I ever act in the role of a broker where I earn commissions, I am required to act in the best interests of my clients. All that being said, I strive to put my client's interests first and strive to do the best possible work to for my clients.
What Services do you offer for retirement planning?
I offer investment management, IRA and 401k distribution strategies, income and cash flow planning, and retirement asset preservation strategies.
How do help clients with tax planning Seeking To minimizing taxes in retirement?
The goal of tax planning is to help clients reduce not only their taxes now but throughout their lifetime. I like to incorporate other areas of wealth management, such as retirement planning, investment management, and estate planning strategies, to help clients minimize their lifetime tax liability through proactive tax planning. Also, as an Enrolled Agent with the IRS, I'm in a distinct position to help clients understand how taxes impact other areas of their finances.
Do you Provide Investment Management and Portfolio strategies?
Yes, investment management and portfolio strategies are one of the core services that I offer my clients.
What other services do you offer?
I also offer retirement planning, tax planning strategies, estate planning strategies, insurance planning.
What type of clients do you work with?
I typically do my best work with mid-to-late career professionals earning more than $250,000 a year. I also work with retirees and pre-retirees.
Where is your office located and where do you serve clients?
My office is located on the west side in Colorado Springs, Colorado. I serve clients in the Colorado Springs and surrounding areas, such as Monument, Castle Rock, and Woodland Park; however, I can also, and do, serve clients virtually across the nation.
Do you offer in-person meetings, virtual consultations or both?
I offer in-person meetings at my office in Colorado Springs, Colorado, as well as virtual consultations via Zoom and phone.
What is your financial planning process, and what can I expect in the first meeting?
You can learn more about my financial planning process and what to expect in the first meeting by Clicking here.
How often do you meet with clients and how do you communicate with them?
I meet with most clients between 2 and 3 times per year. However, I can meet with clients more as needed (such as 4 times per year or on demand), depending on the client situation. I communicate with clients in various ways, such as in person, via Zoom, and via phone.
Will you create a personalized retirement and wealth plan for me?
Yes.
How are you compensated? Fees? Commissions? Both?
I primarily work with clients, in an advisory relationship, on a fee basis as a percentage of the assets under management (AUM fee). However, if it makes sense, I can work with clients on a flat fee-only basis. I can also work with clients on a commission basis when it makes sense and is in the best interest of the client.
What are your typical investment management or advisory fees?
You can view my investment management and advisory fees by Clicking here..
Is there a minimum asset requirement to work with you?
Most of my clients have a minimum of $500,000 in investable assets that they are able to, and want to, move to my firm for management.
Do you offer a complimentary initial consultation or discovery meeting?
Yes, I offer a complimentary initial consultation or discovery meeting for you to get to know me, my firm, and how I help people. This is also a chance for me to get to know you, understand your needs, wants, and goals, and ultimately to see if we're a good fit to work with each other.