In a Financial Foundations Engagement, we examine the various financial issues relevant to your unique situation and stage of life, so you can make better use of your resources to pursue your life goals.
This is a detailed process designed to get, or keep, your financial life in order. Our approach allows us time to learn more about you and your financial situation before we make specific recommendations.
Some people may feel their financial situation is “simple” or they only need limited advice. That may be true, but, many people are unaware of how financial planning issues are interrelated and we often find people have inefficiencies or have overlooked critical issues altogether.
Quite simply, we don’t know what we don’t know. Therefore, the best way for us to uncover these shortfalls is through a customized Financial Foundations Engagement.
The core areas covered include:
- Review of your Current Financial Status – assets, liabilities, income, expenses and taxes
- Goal Planning Guidance
- Goal Funding Projections and ”What If?” Scenarios to test your ability to achieve your Needs, Wants and Wishes in life
- Investment/Savings Analysis with Risk Evaluation, Investment Policy Summary and Recommendations
- Bringing the Pieces Together -including meeting times – Initial Data Gathering Session, a Midpoint 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 specific recommendations for the topics addressed.
Additional areas or services that may be added:
- Developing/revising a budget
- Basic or advanced planning for retirement or financial independence
- Basic or advanced education planning
- Basic or advanced caregiver planning and coaching
- Basic or advanced risk management planning
- Basic or advanced estate planning
- Basic or advanced tax planning
- Windfall/inheritance management
- Small business ownership issues
- Real estate issues
- Implementation assistance
- Serving as a coordinator between other advisers (attorney, accountant, mortgage broker, etc.) to explore various solutions, gain consensus and avoid miscommunication between parties
- Miscellaneous subjects addressed per client’s request or needs
Engagements are typically completed within 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 that must be executed prior to the start of any work. Whenever possible, we will provide a “not to exceed” quote.
To learn more about how you can get started, you can read more at this link or contact us to schedule an introductory call. You can reach us by calling 800-716-0674 or sending us a message through our contact form.