Frequently Asked Questions

It is never too early to start planning for retirement! The greatest tool you have to protect your family’s financial future is time, so starting early can give you a great advantage. Planning for retirement is about much more than just numbers, it is about building a secure foundation so you can enjoy life's special moments with the people you love. People often delay retirement planning for later in life, but the earlier saving for the future can begin the more successful the retirement plan will be. Whether you are opening your very first savings account, growing your career, or preparing to transition into your golden years, taking small steps as early as possible can ensure your family's long-term peace of mind and will turn your retirement dreams into a reality. 

When choosing who to trust with your financial future, understanding how an advisor is paid makes all the difference. Bonner & Smith is a fee-only financial advisor, which means we are compensated exclusively by a percentage-based fee paid directly by the client. Simply put, we only make money when you do. We also never accept commissions, kickbacks, or hidden bonuses for selling specific financial products or insurance policies. In contrast, commission-based advisors earn their income through the products they sell, which can create an unfortunate conflict of interest. Because our fee-only model removes these conflicts entirely, you can rest easily knowing that our guidance is always 100% objective, deeply personal, and focused solely on what is best for you and your family’s long-term security and peace of mind. As fiduciary advisers, Bonner & Smith is committed to providing the absolute best care for our clients and their financial needs. 

While these titles are not mutually exclusive, a CERTIFIED FINANCIAL PLANNER® professional is a highly trained specialist who offers a greater legal and ethical commitment to their clients than a traditional stockbroker. A CFP® is an adviser who looks at a clients’ entire financial background, from retirement and estate planning to tax strategies, and is legally bound by a strict fiduciary duty to act solely in the client’s best interests. A stockbroker, on the other hand, focuses primarily on buying and selling individual securities like stocks or bonds, often earning income through sales commissions. By partnering with a CFP®, you gain a long-term advocate who is focused on your peace of mind, ensuring every recommendation is driven by what makes you and your family feel safe, secure, and prepared for tomorrow.

Bonner & Smith LLC is a Registered Investment Adviser. Susan D Smith, Keith Bonner, and Rusti D Pitts are all Investment Adviser Representatives. While both "adviser" and "advisor" are correct spellings in the English language to refer to someone who gives advice, we adhere to the legal spelling provided in the Investment Advisers Act of 1940. To be allowed to use “Adviser” over the “Advisor” counterpart, the act states that you must be a Registered Investment Adviser (RIA) or an Investment Adviser Representative (IAR). To know the difference between advisor and adviser is just as important as making sure that your financial planner is certified. The RIA and IAR designations guarantee that your financial representative is legally required to act as a fiduciary and only in your best interests as a client. The phrase "Financial Advisor" is frequently used by brokers, who are not Fiduciaries and are not legally required to act in your best interest. 

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Bonner and Smith has many clients who have worked in education across the state of Texas who are eligible to receive benefits from the Teacher Retirement System of Texas. In addition to the Teacher Retirement System of Texas, Susan Smith has experience with other states' retirement systems as well as other retirement plans provided by higher education institutions across the country. 

Estate planning is an essential process for protecting your assets by creating a powerful legacy that ensures your loved ones are cared for, no matter what the future holds. By establishing clear legal directives, such as wills, trusts, and powers of attorney, you retain total control over your financial legacy and medical wishes while sparing your family from the stress, cost, and delays of court probate. It is a misconception that estate planning is only for later in life! It is truly never too early to create an estate plan, especially when your family is growing. Whether you are welcoming your first child, buying a family home, or building a legacy for your grandchildren, taking this small step provides your family with the ultimate gift of clarity, protection, and lasting peace of mind.

Bonner & Smith does offer tax preparation services, but only for our financial planning clients. While we do currently have a waitlist for the 2026 tax season, we also work with our clients who are not currently receiving our tax preparation services to help streamline their interactions with other providers or who file their taxes at home by providing guidance and relevant documents, as needed. Our tax preparer, Rusti D. Pitts, has over 20 years experience in both personal and business tax returns. 

Achieving the CERTIFIED FINANCIAL PLANNER® designation requires fulfilling the CFP Board's rigorous "4 Es" standards: Education, Examination, Experience, and Ethics. Candidates must first complete specialized financial planning coursework and hold a bachelor's degree before passing a comprehensive 170-question certification exam. Additionally, they must log either 6,000 hours of professional financial planning experience or 4,000 hours in a qualifying apprenticeship and clear a strict ethical background check. This intensive process ensures that every CFP® professional possesses the advanced technical knowledge, practical skill, and fiduciary commitment required to deliver the best client-centered financial advice.