TFP’s integrated, holistic financial planning process begins with an initial financial planning engagement, usually conducted over the course of two to three months and four or five meetings. Typical fees for the initial financial planning engagement are generally between $5,000 and $7,000. At the end of the initial financial planning engagement, TFP will help the client decide whether it is best to self-implement their plan or continue working with TFP on a long-term ongoing basis.
If TFP feels self-implementation is best, six months of as-needed follow-up will be provided at the rate of $300 per hour. If the client continues on an ongoing basis, TFP will help the client implement the recommendations made during the initial planning engagement. TFP will work closely with our client to keep them updated in the months and years ahead. TFP will provide ongoing management on the client’s investments. Fees for the ongoing service depend on the size of the investment base of the client with the minimum annual fee being $5,000 per year. There are no minimum asset or income requirements to work with TFP.
TFP’s services are most appropriate for those who desire a long-term pro-active relationship with a financial planner that includes investment management. Services are broken down into an initial planning component followed by ongoing services for two reasons. First, TFP believes financial planning should come before investment planning. Secondly, our process allows TFP and the client to decide if there is a good fit before committing to a long-term relationship. Apart from the six months following the completion of the initial plan, TFP does not offer hourly, as-needed follow-up to clients who self-implement their financial plan.