Step 1a Explore: Fit
You should schedule 30-minute Fit call if:
- you are a recent or soon to be widow/widower, and
- you need a guide to help you:
- understand & organize your new financial life;
- evaluate & prioritize financial decisions;
- establish a financial life plan to live forward without fear.
I am different:
- I do not require you to commit to a long term relationship;
- I do not require you to let me manage your investments;
- I charge a flat-fee for financial planning.
One-time financial planning fee is $4,800*.
Ongoing wealth management** (with or without investment management) fee ranges from $8,000 up to $20,000 depending on your total assets***.
Step 1b Explore: Get better acquainted
Let's visit via video. Allow about 60 minutes for this conversation.
If you have someone that you trust to help you make this decision that person should be on our call too.
I will ask you to complete a couple of simple surveys in advance of our visit.
During our visit we'll discuss your circumstances, goals, values, concerns and what you want from a professional advisory relationship.
We'll also discuss how we would work together (start date, data requirements, fees, etc.) and what benefits you can expect if you choose to work with my firm.
You will end our video visit knowing everything you need to know to decide if we should work together.
If I feel we are a good fit I will invite you to become a client. You do not have to accept on the spot. I think it important for you to consider your decision before making a commitment.
If I feel we are not a good fit I will point you to where you might find a better fit.
Step 1c Explore: Decision
Presuming we are a good fit for working together, I will extend an invitation to work together. Think of this as a business proposal. I will outline the fee schedule, rough timeline, data collection needs and instructions for moving to Step 4 Engage.
If I don't hear from you, I will assume you have decided (not deciding is a decision) not to move forward at this time. That is perfectly ok!
I will reserve your invitation for 30 days after which your seat will be released to the next prospective client. Kind of like skipping a restaurant reservation except I won't charge your credit card.
I know there is so much to deal with -- you can come back when you are ready and get an available seat subject of course to whoever has an active reservation at that time.
Step 2 Engage
This is where we establish your starting point -- where you are now.
I want to understand your perspective and your preferences.
We will use some simple tools to identify what is most important to you and to clarify your priorities.
This is also where we collect what I call the "hard data" -- your income & expense info, your assets, your liabilities, all your risk management (insurance) info, your tax documents, and your estate documents.
Step 3 Envision
This is where we define where you want to be think of this as a vision of your "ideal life"
We'll also identify and prioritize your personal and financial goals
I'm not going to ask you to pinch pennies but I do want to know where every five dollar bill goes.
I am a firm believer in the cash flow method of financial planning. I don't even use the "b" word (the one that sounds like diet)
I much prefer establishing a spending plan that aligns with your values, priorities, and supports your vision of your ideal life.
Step 4 Enlighten
At this point I should be ready to summarize and clarify my understanding of your circumstances and aspirations.
Present final draft of financial recommendations in the form of a implementation summary or checklist. I will provide a high level explanation of how I arrived at my recomendations diving deeper where necessary.
At this point you can choose to implement some, all or none of it:
on your own
with another advisor
You have contracted for my best thinking -- and I should have provided that. We should be comfortable communicating with each other so if I have not been clear or there is some other un-happiness with my work -- let's talk about it!
Step 5 Empower
This is where we have a conversation about the benefits of working with us on an on-going basis to implement, monitor, and continue to plan for future life transitions proactively.
I will provide you with another proposal outlining what that all looks like.
You don't have to worry about this now -- or then for that matter, you under no obligation to continue working together.
*If you have a complicated business situation, rental properties, non-standard estate or assets that need special planning attention a fee adjustment may be necessary. We'll talk that over if the situation arises before incurring any additional costs not approved by you.
**Ongoing wealth management is an optional service. You do not have to agree to ongoing wealth management before we complete your one-time financial plan.
***Total assets is my proxy for complexity and does not include the value of your primary residence.