All new clients start with a financial plan so we can see where you are today, where you want to be, and how to get there. Without a clear picture you don’t know what you want. Without a plan, we don’t know what steps to take to get there. Without a picture and a plan, you are bound to be disappointed with the outcome.
What will you get from a financial plan?
- Statement of Net Worth – assets less liabilities
- Clear Goals- some goals are obvious while others are not as apparent. How will you fill your days in retirement? Do you want to start a new business? Teach? Write? Travel? Are you and your spouse on the same page? Do you need to care for an aging parent? Who will take care of you? Do you have any concerns for your children you want to address and plan for?
- Cash Flow- Can you afford your goals? What are your spending habits? How much are you saving and how much more do you need to save? What debts should you pay off? Do you have a sufficient emergency fund?
- Investments- how are you currently invested (IRA, 401k, variable insurance products, brokerage accounts, etc)? what asset allocation best suits your risk tolerance and time horizon? What changes do you need to make?
- Insurance- where are you exposed?
- Estate- when did you last update your will? what other documents do you need? Trusts? Legacy?
- Tax- is there anything you can do to be more tax efficient?
- Client specific- education saving, philanthropy, house advice, etc.
- Initial plan ranges from $2000-$4000. Ongoing Planning is $2400 annual minimum fee or $200 per hour.
Download a Financial Plan Data Gathering Checklist.
Download a Financial Plan Data Gathering Questionnaire.
Once you have a plan, we can help you implement and monitor your progress with the services below. A financial plan is key to helping you achieve your goals, but remember it is just a picture of today and will need tweaking as your life changes. We charge a fixed price for a plan that varies by client depending on complexity.
We charge a quarterly fee based on a percent of assets under management:
- 1.00% on assets $100k – $1Million
- 0.80% on assets $1Million – $3Million
- 0.70% on assets $3Million – $5Million
- 0.50% on assets over $5Million
- Portfolio consulting & recommendations if you prefer to manage your own investments
- Estate planning & tax efficiency implementation
- Education savings account set up & review
- House advice
- 401k establishment
- Budget & debt plan
We charge a $200 hourly consulting fee or $2400 minimum annual fee.