We design customized comprehensive financial plans that help you set priorities and realize your financial goals. Our Financial Planning is billed on an hourly basis. The total project cost will depend on the financial advisor’s hourly rate as well as the complexity of your situation. After completion of our meeting form, a financial advisor will be able to provide you with a specific quote to complete your financial plan.
Typically, your financial plan will answer questions such as:
- When can I retire?
- How much can I spend?
- How much life insurance do I need?
- How much and in what accounts should I be saving for my child’s college?
- What retirement account(s) should I use?
- When should I claim social security or which pension option should I select?
- How much should I invest in stocks, bonds and cash?
- How can I improve my tax situation?
- Can I afford that new or second home?
- What debt(s) should I pay off first?
- Do I need to make changes to my estate situation?
- What scenarios will impact my retirement date, spending levels, investment returns, etc.?
- And more questions relevant to your specific situation.
We walk through the following six steps when developing your financial plan:
Agree on how we will be working together.
We start most of our client relationships with a financial plan and may recommend our continuous service to you based on your personal situation. We will discuss each of our responsibilities and expectations for the service you choose.
Gather information about your finances and set goals.
A vital part of gauging the success of your plan is having valid information about your current situation and goals. In addition to financial statements, the following worksheets will help us analyze your situation:
Analyze and evaluate your financial status.
We will analyze your current financial status and the likelihood of achieving your goals. During our analysis, we will look for improvements and efficiencies such as:
- Use of tax-advantaged accounts
- Better ways to manage debt
- Possible tax savings
- Risk management techniques
Develop and present recommendations.
This is one of the most powerful steps in the planning process. After we develop preliminary recommendations, we will have a collaborative review session. We start by reviewing our findings, and then make adjustments based on your feedback so that we develop the best strategies for achieving your goals.
Your customized financial plan will provide:
- Action items
- Monitoring schedule
Put your financial plan into motion.
Now that we have determined the best strategies for achieving your goals, you can choose to complete the action items on your own or with our assistance through our continuous service.
Some areas of your plan that may require action include:
- Investment strategy
- Tax strategy
- Debt repayment priorities
- Insurance coverage
- Estate documents
- Retirement account contributions/distributions
Monitor progress and stay on track.
As you work toward your goals, it is important to monitor your progress. Your advisor will discuss areas for you to monitor such as:
- Investment allocations
- Investment performance
Depending on the complexity of your situation, you can typically expect to receive your financial plan 3-6 weeks after all the information is received.
Our fees are calculated as a percent of your portfolio assets according to the following table, with a minimum annual fee of $3,000. Fees are billed quarterly in arrears based on the end of the quarter value and are prorated for partial quarters. Download our Form ADV here and our Form CRS here.