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Our
Services
Initial Review
First
we conduct a review to make sure that all the various aspects
of your financial lives are working together to make your
goals and dreams reality.
- Are your financial
and record keeping systems organized?
- Do you plan your cash flow and spending?
- Are you saving and investing enough for life events and
to achieve your long-term goals? A larger home. College
for your children. Retiring or achieving financial independence.
- Are your short-term savings and long-term investments
appropriate for your needs and goals? Are they properly
diversified?
- Are you paying too much in taxes?
- Do you have enough, too much or the appropriate types
of insurance?
- Have you done what you can to ensure your wishes are carried
out upon your death or disability?
Typical questions
clients present us with include:
- "How can
I develop a budget in order to save more?"
- "How
large of a home can we afford to buy?"
- "Are
we financially prepared for having children, and can one
of us afford to stay home with them while they are young?"
- "Can
I afford to change careers?"
- "Are
we saving enough for our children's college educations,
and what about Section 529 College Savings Plans?"
- "Am
I on-track to retire at the age I wish?"
- "Is
my money invested in the most appropriate things for me
at this time?"
- "What
are the best investment choices for me within my employer's
retirement plan, and how can these be coordinated with my
other investments?"
- "Do
I have enough and the right type of life and disability
insurance?"
Financial
planning is an ongoing process, not a single event.
Once presented
with a written financial plan, many people find it difficult
to implement that plan due to their busy schedules and the
urgency of other matters in their lives. Some suffer from
general procrastination - often associated with working on
issues unfamiliar to them. Rather than just making financial
planning recommendations, TFP will provide assistance implementing
those recommendations, including:
- Reorganizing
your investments and facilitating the completion of transfer
paperwork for account simplification and consolidation.
- Coordinating with insurance specialists to ensure you
obtain the necessary insurance coverage.
- Coordinating with accountants and attorneys to ensure
your tax and estate planning gets done.
Then, throughout
the year, TFP will provide ongoing, proactive financial planning
and investment services:
- To recognize
and capitalize on planning opportunities as they arise throughout
the year including those brought about by changes in your
lives and changes in the law.
- To periodically rebalance your investments to an optimum,
tax-efficient, mutually agreed allocation across all your
investment accounts.
- To make sure you stay properly diversified.
- To save on your taxes through the harvesting and off-setting
of capital gains and losses in your non-retirement accounts.
- To coordinate your individual investments with those you
have made in your employer-sponsored retirement plans.
- To ensure that your entire financial planning works together
holistically - both investment and non-investment related.
- To ensure that your financial planning is an ongoing process,
not an isolated, one-time event.
TFP will be available
for on-going telephone, email, and meeting consultations as
clients encounter new circumstances and decisions regarding
personal finances, estate planning, insurance, tax planning,
and retirement planning. You will not have to decide before
contacting TFP whether your question or issue is worthy of
consideration, then have to pay an ad hoc fee for the time
spent.
TFP is your trusted
advisor and provides the peace of mind, wisdom, perspective
and professional discipline to guide you through difficult
market environments - such as we have experienced through
2007 and 2008. In times such as these, who hasn't wondered
if any of their portfolio should remain in the equities market?
TFP provides sound advice to help you stay calm and make rational
choices based on facts, not hearsay, with your long-term goals
in mind.
Fees
TFP first provides
you with an integrated, holistic review of your financial
situation. Typical fees for the initial financial plan range
from $4,000 - $8,000 and are billed on a single flat-fee basis
depending on the client's complexity. A financial plan for
a young couple with small children or a couple with significant
assets who are just about to retire will take more time (and
so cost more) than a plan for a single person, a young person
just starting out, or a couple without children. At the end
of an initial "Get Acquainted Meeting" (see Planning
Steps), once your personal needs are fully identified,
TFP will make a proposal as to how we can help, and what that
would cost.
Once the initial
planning work is completed, clients decide if they wish to
implement the plan themselves or enlist the aid of TFP. If
TFP, we will then restructure your investments according to
the agreed-upon plan, assist with the purchase or replacement
of insurance, and work with your accountant and attorney on
tax and estate planning. We will do our best to make sure
what you need doing gets done.
Fees for these
ongoing services are based upon the size of the clients investible
assets:
- First $500,000 = 1%
- $500K - $1M = .5%
- $1M+ = .25%
This base fee can
also be adjusted up or down on a discretionary basis based
upon planning complexity or frequency of contact needed.
TFP does not have
a minimum account size, but generally does have a minimum
annual retainer fee for financial planning and investment
management of $3,000.
Please
review Important Disclosure Information
set forth in this web site.
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