Flat Fee Financial Planning

With this service, the client will receive an electronic financial planning deliverable within 30 days of the end of the engagement, and at the conclusion of the financial plan delivery, the original agreement will terminate, and the client will be given the option to sign onto the Full Service Financial Planning.

The financial planning topics that will be covered, may include, but are not limited to, the following:

  • Business Planning: We provide consulting services for clients who currently operate their own business, are considering starting a business, or are planning for an exit from their current business. Under this type of engagement, we work with you to assess your current situation, identify your objectives, and develop a plan aimed at achieving your goals.

  • Cash Flow and Debt Management: We will conduct a review of your income and expenses to determine your current surplus or deficit along with advice on prioritizing how any surplus should be used or how to reduce expenses if they exceed your income. Advice may also be provided on which debts to pay off first based on factors such as the interest rate of the debt and any income tax ramifications. We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a review of accounts (such as money market funds) for such reserves, plus strategies to save desired amounts.

  • College Savings: Includes projecting the amount that will be needed to achieve college or other post-secondary education funding goals, along with advice on ways for you to save the desired amount. Recommendations as to savings strategies are included, and, if needed, we will review your financial picture as it relates to eligibility for financial aid or the best way to contribute to grandchildren (if appropriate).

  • Employee Benefits Optimization: We will provide review and analysis as to whether you, as an employee, are taking the maximum advantage possible of your employee benefits. If you are a business owner, we will consider and/or recommend the various benefit programs that can be structured to meet both business and personal retirement goals.

  • Financial Goals: We will help clients identify financial goals and develop a plan to reach them. We will identify what you plan to accomplish, what resources you will need to make it happen, how much time you will need to reach the goal, and how much you should budget for your goal.

  • Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long-term care, liability, home and automobile.

  • Investment Analysis: This may involve developing an asset allocation strategy to meet clients’ financial goals and risk tolerance, providing information on investment vehicles and strategies, reviewing employee stock options, as well as assisting you in establishing your own investment account at a selected broker/dealer or custodian. The strategies and types of investments we may recommend are further discussed in Item 8 of this brochure.

  • Retirement Planning: Our retirement planning services typically include projections of your likelihood of achieving your financial goals, typically focusing on financial independence as the primary objective. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables (e.g., working longer, saving more, spending less, taking more risk with investments).

    • If you are near retirement or already retired, advice may be given on appropriate distribution strategies to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years.

    • If you plan to retire ‘early’ before you qualify for Medicare, we can connect you with a healthcare consultant to help you select the most appropriate medical plan.

    • Medicare plan selection can be included as a part of your retirement planning for no additional cost.

  • Risk Management: A risk management review includes an analysis of your exposure to major risks that could have a significant adverse impact on your financial picture, such as premature death, disability, property and casualty losses, or the need for long-term care planning. Advice may be provided on ways to minimize such risks and about weighing the costs of purchasing insurance versus the benefits of doing so and, likewise, the potential cost of not purchasing insurance (“self-insuring”).

Fees for this service range from $3,000 - $7,000 depending on complexity. Most clients are between the $3,000 - $4,000 range.

Full Service Financial Planning

This service involves working one-on-one with a planner over an extended period of time. By paying a annual retainer or asset management fee, clients get continuous access to a planner who will work with them to design their plan.

The planner will monitor the plan, recommend any changes and ensure the plan is up to date. Upon desiring the full service financial planning, a client will be taken through establishing their goals and values around money.

They will be required to provide information to help complete the following areas of analysis: net worth, cash flow, insurance, credit scores/reports, employee benefit, retirement planning, insurance, investments and college planning.

Once the client’s information is reviewed, their plan will be built and analyzed, and then the findings, analysis and potential changes to their current situation will be reviewed with the client.

Clients subscribing to this service will receive a written or an electronic report, providing the client with a detailed financial plan designed to achieve his or her stated financial goals and objectives.

If a follow up meeting is required, we will meet at the client's convenience.

The plan and the client’s financial situation and goals will be monitored throughout the year and follow-up phone calls and emails will be made to the client to confirm that any agreed upon action steps have been carried out.

On an annual basis there will be a full review of this plan to ensure its accuracy and ongoing appropriateness. Any needed updates will be implemented at that time.

For our on-going client relationships, this consists of an annual fee ranging from $2,400 to $12,000 depending on complexity with most clients being between $3,600 - $4,800 ($900 - $1,200/quarter).

*Clients with more than $400,000 in Assets Under Management will receive Full Service Financial Planning at no additional charge. Our assets under management fee is 1% of assets managed up to $1 million, then .5% of any additional assets.

Hourly Financial Planning

Financial planning fee is an hourly rate between $150.00 and $300.00 per hour, depending on complexity.