Our service is appropriate for individuals, couples and families looking for an integrated approach to their financial planning and investment management. During the review of your financial plan, we will address the following areas of financial planning:
Goal Setting – The first objective in the planning process is for us, together, to identify your personal goals and objectives, so that we can better understand how your primary assets – your time and your finances – can be organized to achieve these goals. What do you want to happen, personally and financially, and in what time frame?
Review and Analysis of Cash Flow & Net Worth Assessment – I will review and analyze your current spending patterns and prepare an analysis which highlights current cash inflows and outflows. Together we will determine the level of discretionary income available for investment or other uses. The cash flow work helps us with long-term planning by providing a baseline with which to estimate your future spending needs. We would also assess your current financial circumstances through a personal net worth statement that lists your assets and liabilities.
Financial Independence Planning – This would involve exploring the age at which you wish to “retire” and the lifestyle you wish to enjoy during retirement. I will prepare an analysis to determine what amount of investments and additional savings are necessary to achieve your goals. Social Security projections and pension income will be incorporated into the analysis. I will generate long-term financial projections to help you see how various financial decisions might affect your ability to fund your long-term goals. Where helpful, we would develop scenarios to help analyze how best to achieve your goals and any tradeoffs that might need to be made among them.
Current Portfolio Review – We will focus on understanding your risk profile and the expected returns of your current portfolio, including all taxable and tax-deferred accounts. We would discuss investment strategies in order to help you understand which strategy may be best suited for your needs and risk preferences.
Tax Planning – We would address whether you are taking full advantage of opportunities to minimize your federal and state income tax liabilities. If I have sufficient information regarding your personal tax situation, I will prepare an annual income tax projection for the current tax year to estimate your expected liability or refund based upon projected income during the tax year. I will make recommendations to adjust your withholding or make estimated tax payments as necessary.
Insurance Review – We would address whether you have adequate life, disability, and long-term-care insurance. I would also have an expert review your property & casualty insurance to determine whether you have adequate coverage. I will review your current insurance policies and make suggestions regarding the appropriateness of your coverage in meeting your current goals and objectives. I will make recommendations to insurance agents who specialize in the areas mentioned.
Estate Planning – I will review your existing estate planning documents (wills, trusts and powers of attorney) to ensure that they reflect your wishes and determine the need, if any, for any additional estate planning action. I will make recommendations regarding attorneys who specialize in drafting estate planning documents.
Stock Option Planning (if applicable) – I will assist you with decisions regarding your employee stock options so that they complement your overall financial plan. I will review your specific stock option grants in light of your personal financial situation, including your federal and state marginal tax brackets, net worth, personal objectives, risk tolerance and need for cash.
Education Funding Analysis (if applicable) – I will prepare an analysis to determine what amount should be set aside to fund the education you desire for your children or grandchildren. Additionally, I will present your alternatives for savings vehicles and help.
The fee for the initial plan is based upon the complexity of your individual situation and the amount of time expected to be involved in gathering the data, preparing the plan, and presenting the financial plan.
A TYPICAL ENGAGEMENT:
Financial Plan (no investment management) – Ranges depending on complexity
Ongoing Financial Planning & Investment Management Services – Asset based rate starts at 1% of 1st $1 million
(subject to annual minimum of $12,000 per year)
What a Financial Advisor Does:
What a Financial Advisor Does Not Do:
Your Responsibilities as a Client:
What We Can Do for One Another:
1. CONFIDENTIAL QUESTIONNAIRE
In preparation for the Initial Consultation, we will send you a document request.
2. RISK TOLERANCE QUESTIONNAIRE
As we work together, we will ask you to complete a Risk Tolerance Questionnaire. We will use this information as part of the process to determine an appropriate investments strategy.