Duffy Wealth Management Frequently Asked Questions

What does a financial advisor do?

A financial advisor helps you make informed decisions about your money so you can achieve your long-term goals such as retirement, tax efficiency, and building wealth. This typically includes investment management, financial planning, and ongoing guidance.

At Duffy Wealth Management, we coordinate all aspects of your financial life from investments to taxes to retirement planning, so everything works together in a clear, cohesive strategy.

To see all the services we offer please visit our Services page.

How is Duffy Wealth Management Different?

We provide personalized, fiduciary financial planning tailored to your goals rather than one-size-fits-all advice. We focus on building long-term relationships and offering proactive guidance as your life evolves. Our approach integrates investments, tax strategy, and life planning so you receive coordinated, thoughtful advice designed specifically for your situation.

To learn more about each of our staff members please visit our About Us page.

Are you a fiduciary?

Yes. Duffy Wealth Management is a fiduciary, which means we are legally and ethically required to always act in your best interest. We do not earn commissions from financial products, allowing us to provide objective, unbiased recommendations.

Who is your ideal client?

Our ideal clients are individuals and families looking for a long-term partner to help them make confident financial decisions and simplify complex financial matters.

We often work with professionals, business owners, and retirees who value thoughtful planning and a coordinated approach to their finances.

To see more about what type of clients we work with please visit Our Clients page.

Do you work with clients outside of Seattle?

Yes. While we are based in Seattle, we work with clients across the country using virtual meetings and other collaboration tools.

We also frequently travel throughout Washington and make in-person visits when possible, and we often meet with clients outside the state while traveling. This allows us to maintain strong relationships regardless of location.

What Happens during the first meeting?

The first meeting is focused on understanding your goals, current financial situation, and what you want to achieve. It’s a conversation designed to determine fit and outline how we can help—there is no pressure or obligation.

How do you get paid?

We offer two primary fee structures depending on your needs: fee-based and commission-based. Most clients pay an ongoing annual fee based on a percentage of assets under management (AUM), which covers continuous financial planning, investment management, and advice.

In certain situations, a commission-based structure may be more appropriate, where fees are tied to specific transactions or financial products. The approach we use depends on the complexity of your situation and what best aligns with your goals.

We always discuss and clearly explain all fees upfront so you understand exactly how we are compensated and can feel confident in the structure we recommend.

Is it worth paying for a financial advisor?

For many people, a financial advisor provides value through better decision-making, tax planning, and long-term discipline. Beyond investments, a good advisor helps coordinate your entire financial life, which can lead to improved outcomes and greater peace of mind.

How often would we meet?

We typically try to meet with clients annually or semi-annually, with additional meetings as needed. We also stay in touch proactively as your situation evolves.

How do you communicate with clients?

We communicate through meetings, email, and phone based on your preferences. Our goal is to be responsive, accessible, and proactive in helping you stay on track.

Should I roll over my 401(k)?

In many cases, rolling over a 401(k) into an IRA can provide more flexibility, improved investment options, and better coordination with your financial plan. However, the right choice depends on your specific situation. We evaluate your plan’s features, costs, and your long-term goals to determine what makes the most sense.

How do I minimize taxes in retirement?

Minimizing taxes in retirement involves coordinating withdrawals from different types of accounts such as taxable, tax-deferred, and Roth accounts to manage your tax bracket over time.

We leverage a range of tax strategies designed to help you maximize retirement income while paying the least amount of tax possible. This includes using a combination of account types, investment vehicles, and strategies like Roth conversions and tax-efficient withdrawals.

When should I take Social Security?

The right time to take Social Security depends on your health, income needs, and overall financial plan. Delaying benefits can increase your monthly payment, while earlier access may make sense in some cases.

We offer in depth Social Security analysis to find which strategy will work best for you and maximize your long-term benefits.

How should I invest for retirement?

Investing for retirement typically involves a diversified portfolio aligned with your time horizon, goals, and risk tolerance. We focus on building disciplined, tax-aware portfolios designed to support long-term growth while managing risk.

What is the difference between a Roth IRA and a Traditional IRA?

A Roth IRA is funded with after-tax dollars and allows for tax-free withdrawals, while a traditional IRA may offer a tax deduction today but taxes withdrawals in retirement. Choosing between them depends on your current and expected future tax situation.

How much should I be saving?

A common guideline is to save 15–20% of your income, but the right amount depends on your goals and timeline. We help determine a personalized savings strategy based on your financial plan.

What asset allocation is appropriate for my age?

Asset allocation should be based on your goals, time horizon, and comfort with risk—not just your age. We design portfolios tailored to your full financial picture rather than relying on generic rules.