The Practice

Striving for Financial Freedom™ 

*Retirement Planning*

• Our role is to understand clients’ retirement goals.
• We determine the most suitable retirement for clients.
• We implement the retirement plan.
• We monitor the progress.

*Investment Planning*

• Our role is to understand clients’ investment goals, risk tolerance, and financial situation.
• We educate clients on the importance of professional investment management and asset allocation.
• We recommend professional investment management programs that we deem appropriate for our clients.
• We monitor the performance and progress for clients’ investment program.

*Estate Planning*

• There are three stages in a person’s financial life: the Accumulation stage, the Retention stage, and Disposition.
• Our role is to help our clients achieve their estate planning goals regardless of their financial stage.
• The typical financial tools used in the Accumulation stage are: (1.) Life insurance for wealth creation (in the event of the premature death of a bread winner) (2.) Disability insurance for income protection for the bread winner (3.) Retirement and investment plans to accumulate assets.
• In the Retention stage of the financial life, asset protection plans are important. The different types of risk that should be monitored are investment risk, tax risk, inflation risk, health risk, and litigation risk.
• The Disposition stage is a time when we work closely with a tax attorney to make certain you have the proper wills, trusts, and gifting programs.

*Financial Planning*

• Financial Planning can involve all of the above types of planning. Most often we use a segmented plan, which involves one of the above areas. We also have the ability to do a comprehensive plan, which can involve all of the above areas and more.

The Principals

Michael F. Barnett, CFP™ Mike began working in the Financial Services industry in 1981. He concentrates his practice in the area of estate and financial planning for individuals and businesses. He practices his financial planning through his affiliation with NFP Securities, Inc. where he is a Registered Representative and an Investment Advisor Representative

Mike is a CERTIFIED FINANCIAL PLANNER™ professional and is also past president of the Mobile Chapter of the American Society of Financial Service Professionals. He received the Chartered Financial Consultant designation in 1984.
 

Edwin L. Peters, Jr., ChFC Pete is a Chartered Financial Consultant with 30 years experience in the financial planning field. Pete has a Bachelor of Science Degree in Business with a major in Finance. Pete works primarily as a Financial Advisor to individuals and businesses, in the areas of financial, estate, and retirement planning.  He is a Registered Representative and an Investment Advisor Representative with NFP Securities, Inc.

A. Scott Waters Scotty started his career in 1983, while still a college student at the University of South Alabama. As a college student, he received not only his insurance license, but also holds his Limited Registered Representative license through NFP Securities, Inc. He specializes in individual and small business insurance, and retirement planning.  

 Mike Barnett, Plumer Tonsmeire, and Scotty Waters formed Financial Resources in 1984. The company specializes in the areas of insurance, retirement, estate, and financial planning.

Pete Peters has had his insurance, estate, and retirement planning practice since 1979, after working for four years with Prudential.

A merger of the two practices formed Financial Strategies, LLC on January 1, 2001. The firm specializes in financial and retirement planning. They are all affiliated with NFP Securities, Inc.

Mission Statement



"To be indispensable in helping our clients make smart financial decisions through uncompromising integrity, trust and personalized service."