Step 1 – Your Financial Plan
We create a draft financial plan as our first step in the process. This draft is created from data you provided and from our conversation during the initial, no-obligation introductory meeting. In our first meeting, we will review the draft financial plan together.
Step 2 – Priority Action Item Execution
After the first financial planning meeting, we will send your financial plan, along with an email executive summary with action items. We will work to complete the most pressing action items prior to our next meeting.
Step 3 – Investment Strategy Meeting
In most cases, the investments are the “top of mind” reason we are hired. Our second financial planning meeting will address the current portfolio and our recommended changes. This will be delivered in a concise, yet detailed spreadsheet showing you how you are currently invested and all the potential changes we would recommend and execute on your behalf.
Step 4 – Ongoing Strategy Execution
After agreement and execution on the investment strategy, we will turn our attention to the other action items from our initial financial planning meeting. Typically, this will focus on insurance (life, disability, Long Term Care (LTC), home, auto, and personal liability insurance). Sometimes, the focus will be on tax planning if there are more pressing needs to execute strategies prior to year end.
Steps 1 through 4 usually require a total of three meetings, but could be more or less based on your specific needs. Once we have executed on all the action items from our initial meetings, we meet at least annually to update the financial plan we built together. We find it to be a great discipline to ensure the financial plan we have spent hours to build together stays on track. Beyond that annual meeting, we meet and speak with our clients whenever they need us. Personal finances drive a lot of the decisions we make in life. We strive to be your go-to team whenever a personal financial question arises.
Our fees include comprehensive, continuous financial planning services and investment management. The fee is based on a percentage of assets under our management, billed quarterly in arrears, as follows:
• 1.00% per year for assets up to $1 million
• 0.75% per year for the assets between $1 million to $2 million
• 0.50% per year for the assets above $2 million
The minimum fee per year is $5,000. Multiple accounts may be combined to meet the minimum.