Comprehensive Engagements
This service is appropriate for affluent to wealthy individuals and families whose needs are varied and complex and may span across multiple generations. Often more than one business interest is present and estate planning is commonly a pressing consideration.Together with other experts’ contributions and our advisors ongoing guidance this service strives to address all aspects of a person’s financial goals and objectives. Not specifically noted below is an ongoing education component which gradually increases each client’s level of comfort with the inevitable complex decision-making they will face.
• Financial Planning Scope (includes but is not limited to)
• Goal identification,
• Cash flow and budgeting
• Debt and Liability Management
• Retirement income planning
• Education & other goals
• Investment Management
• Risk Management Assessment (no insurance sales)
• Tax planning & employee benefits planning
• Estate and philanthropic planning
• Elder care and retirement healthcare
Ongoing Implementation of Comprehensive Engagements
Too often, financial planning is treated as a one-time event. Families purchase a financial plan and later realize that they misunderstood instructions, forgot to accomplish key parts of the implementation, or encountered an unforeseen lifestyle change making the plan obsolete.
We believe that the vast majority of households are best served by planners who are compensated on an ongoing basis and who implement, service, monitor and update the financial plan regularly. We do not treat a financial plan as a static document. Instead, we approach planning as a framework that helps you make wise decisions for the future. Likewise, your financial plan must constantly evolve with your ever changing life. As we work with you over the years you will understand how changes in your life and decisions you make will affect your future.
On an ongoing basis our clients receive
• Advice, education and empowerment to make good investment decisions
• Constant dissuasion from making bad investment decisions
• Updates of their financial plans as often as is necessary
• Guidance whenever making an important financial decision
• Risk management recommendations including life, disability, long-term care insurance
• Quarterly performance reporting
• Annual review of performance and progress toward goals
• Ongoing education concerning basic principles of finance
Fees and Charges
For most comprehensive client engagements our standard fees apply.
All planning work is covered by an annual retainer. This retainer is subject to revision based on increasing or decreasing levels of planning work required.
For investment portfolio implementation, management, monitoring and reporting we charge a fee expressed as a percentage of household investment asset levels.
“A goal without a plan is just a wish”