Financial planning that makes perfect sense to you
To truly understand your complete financial picture, you need to work with someone who can identify, analyze and review each component of your money profile, then integrate them all into a comprehensive snapshot for you to look at and examine in detail.
Your planner needs to understand what money means to you; how you use it, what you hope to do with it and the various ways in which you interact with it, individually or as a family. They must speak to you about your finances in a way that makes sense to you.
That’s exactly what our holistic approach to financial planning aims to do. We start by asking you a simple question: “What do you hope to accomplish by visiting us today?” By listening carefully to your answer, we begin the process of gaining insights into what you need from your financial plan – and from your financial planner.
Our approach – times two
Depending on the complexity of your financial situation and on your personal preferences, we offer two different models for preparing and presenting your financial plan.
In the first model, we present and explain your plan to you in a single, longer meeting. We will show you multiple scenarios based upon previously-agreed-upon parameters, detail each plan component, suggest action steps for implementation, explain any concepts that you don’t immediately understand completely, and leave time for plenty of questions. The plan includes a written document that you take along with you for future reference. It also includes a reasonable number of follow-up phone calls or emails that may be required to resolve issues that come up during implementation. This model usually requires the client to be available soon after the initial get-to-know-you meeting for several pre-presentation phone calls/emails, as well as for a presentation meeting that lasts 2-3 hours. It usually works best for clients who have previous financial education, more straight-forward needs or a tight time-frame. We strive to complete our part of the planning work in 6-8 weeks after receipt of your deposit.
The second model is one that includes all of the same work product of the first model, but allows a longer time for the introduction and explanation of your plan. We present your plan in 3-4 modules at shorter meetings of 1-2 hours spread out over 9-12 months. We are also available for a reasonable number of phone call or email questions during this time. This model may work best for those with very complex financial situations, little background in money matters or those who wish to have more time to internalize or implement each component of the plan.
Details of our services and fees
Our financial planning services include review and analysis of areas including individual goals, net worth and financial position, budget and current spending habits, retirement goals, tax issues, current investment portfolio position, estate planning issues, insurance concerns and education funding.
Once we have identified your unique financial planning goals, we will provide you with an estimate of the cost of preparing an integrated financial plan. Fees generally range from $2,800 to $5,500 depending on the presentation model you choose and the complexity of the plan, based on our current hourly rate of $250. Model One requires a 50% deposit prior to work beginning, with the balance due upon completion of the plan. Model Two requires equal payments over the course of four calendar quarters as the plan is presented.
NAPFA defines a Fee-Only planner as one who, in all circumstances, is compensated solely by the client, with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product. A NAPFA member or affiliate may not receive commissions, rebates, finder’s fees, bonuses or any form of compensation from others as a result of a client’s implementation of the individual’s planning recommendations.
More information is available on NAPFA’s website.