What is included?
This service begins with a detailed financial plan that is intended to address all aspects of one's financial situation, including:
- retirement savings analysis
- tax-efficient withdrawal strategy recommendation for generating income to cover retirement expenses
- investment risk tolerance assessment
- investment portfolio review and asset allocation recommendations
- tax-reduction strategies for retirement accounts and tax planning
- Social Security analysis and recommendations on claiming Social Security benefits
- covering healthcare costs in retirement and Medicare planning
- review of insurance and estate planning documents to ensure adequate asset and income protection
- long-term care planning
- charitable giving planning, if applicable
- other short- and intermediate-term goals planning (example: second home purchase)
What are the fees?
The initial fee ranges between $5,000 and $10,000. An ongoing fixed fee is determined for each case individually and is based on various factors such as service level needs, inclusion of investment management services, and other factors.
How does engagement work?
The typical initial planning stage lasts 3 to 12 months and consists of 4-6 meetings, depending on the situation.
The implementation stage lasts between 3 and 18 months, depending on the situation, and consists of a series of tasks for both the client and the financial planner to complete.
Ongoing relationships usually include quarterly or as-needed check-in meetings or phone calls.
- Check-in meetings and calls throughout the year to address important decisions and deadlines (examples may include: benefits enrollment decisions, retirement plan contributions, required minimum distribution management, Medicare enrollment, charitable contributions, capital gains distribution management, and tax-loss harvesting).
- Coordinating meetings and working with tax accountants and other professionals throughout the year
Any questions that come up throughout the year.
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