We work with clients in one of several ways: fee-for-service planning, hourly planning and asset management oversight.
The majority of our clients come to us for comprehensive financial plans. These plans typically cost $2,000 for single/individual and $2,500-$3,000 for couples/families for a planning process that typically lasts two to three months. Some clients prefer to engage in a full 12-month planning cycle of planning, and those fees are structured accordingly. We provide a firm quote for the initial financial plan. Once we have completed the plan, future reviews are often a fraction of the initial cost.
For clients that prefer to have help with money management, we charge 0.60% of assets under management for clients with assets below $1 million and 0.45% for clients with more than $1 million in assets. Our minimum annual management fee is $3,000, which also covers comprehensive financial planning.
After the planning process is successfully completed for those clients that do not engage us for long-term asset management, we provide periodic “check-ups” which are charged at a $200/hour billable rate. many of those clients instead opt for an annual retainer relationship, which covers as-needed communications, several portfolio review meetings and other planning topics that emerge over the course of the year. Annual retainers range from $1,000 to $1,700, depending on the scope of ongoing needs that a client has.
No hidden fees or commissions means that you can be confident that you are only paying for solid financial advice. Our fees vary, depending on the scope of services provided. We also provide consultations around specific issues such as investing, education funding, insurance assessment, etc., which can cost $300-$700. If you just have a series of questions you would like answered, we can set up a real-time collaborative planning session, which is billed at a $200 hourly rate. We provide advice based upon their situations without doing any detailed analysis or report. They gain our expertise to answer questions like, “What employer benefits should I take advantage of?” This option is not appropriate for a question like, “Can I retire now?” that requires detailed analysis.
After the planning process is successfully completed, some of our clients reach out to us later on for “check-ups” which are charged at a $200/hour billable rate, or they opt for a $1,200 annual retainer relationship, which covers as-needed communications, several portfolio review meetings and other planning topics that emerge over the course of the year.
Our clients have questions such as:
- How much should I spend now, and how much should I save to spend later?
- What type of home can I afford?
- Am I saving enough to retire one day?
- How should I invest my savings?
- We just got married. How should we merge our finances?
- How should our plan evolve now that we’re ready to have children?
- What can I do to plan for my child’s education?
- Can we afford to have a stay-at-home parent?
- Can I afford to make a career change?
- Can I afford to retire now?
- Is my family protected if something should happen to me?
We also serve clients who have developed their own expertise but want a professional to confirm they’re on track. Either way, clients know the cost of not taking charge of their finances could be that they won’t be able to live the lives they want.
Here are a few examples of what we see most often:
- Do I have enough saved for retirement?
- When should I begin to draw Social Security?
- Should I roll over my 401(k) or leave it with my employer?
- Should I do a Roth IRA conversion?
- Should I refinance or pre-pay my mortgage?
- Can I afford a vacation home?
- Is my portfolio structured to match my goals and my personality?
- Should I have more exposure to specific investments (i.e. global investments)?