A Financial Foundations Engagement allows us to examine the financial issues relevant to your stage of life and unique circumstances so your resources can be properly deployed and focused on achieving your life goals. It provides a reasonable amount of time for us to get to know you and properly evaluate your financial situation before we make specific recommendations. This detailed process is designed to get, or keep, your financial life in order.
Some people believe their financial situation is “simple” or they only need limited advice. However, “we don’t know what we don’t know” and frequently find people have financial inefficiencies or miss critical issues altogether. Many are unaware of how financial planning issues are interrelated. The best way for us to uncover these shortfalls is through a customized Financial Foundations Engagement.
The core items covered in a customized Financial Foundations Engagement:
- Review of your Current Financial Status
- Goal Planning Guidance
- Risk Tolerance and Risk Capacity Evaluation
- Investment Policy Summary
- Investment Analysis
- Funding Projections and ”What If?” Scenarios for your Needs, Wants and Wishes
- Cash Flow and Income Tax Projections
- Bringing the Pieces Together -including meeting times – Initial Data Gathering Session, Interactive Planning Session and Presentation Session – needed to complete the engagement and any phone calls or emails initiated by us during the engagement to clarify or exchange information; and a plan document with assumptions, observations,analysis and specific recommendations for the topics addressed.
Additional items or services that may be added:
- Basic risk management review
- Basic estate planning review
- Advanced risk management
- Advanced estate planning
- Advanced tax planning
- Developing/revising a budget
- Detailed analysis and planning for retirement or financial independence
- Detailed analysis and planning for education funding
- Windfall/inheritance management
- Small business ownership issues
- Real estate issues
- Implementation assistance
- Serving as a coordinator between other advisors (attorney, accountant, mortgage broker, etc.) to explore various solutions, gain consensus and avoid mis-communication between parties
- Miscellaneous subjects addressed per client’s request or needs
An engagement is typically completed in 10 to 20 hours, depending on the items and services needed. Based on our hourly fee of $150, the cost usually falls between $1,500 and $3,000. Each client receives a Service Agreement with a quote prior to the start of any work. Whenever possible, we will provide a “not to exceed” quote.
You can reach us by calling 1-800-716-0674 or sending us a message through our contact form.