What does a typical holistic plan include?
A typical holistic planning engagement involves goal setting, cash flow analysis and projections, investment and portfolio analysis, asset allocation, tax planning, and minimization, estate document review, risk management or insurance coverage recommendations, employee benefits review and debt management. Certain engagements may also include portfolio Monte Carlo analysis, Social Security maximization, and portfolio withdrawal strategies.
What is your investment philosophy?
I am not a stock or mutual fund picker, and I do not time the market. I believe in and advocate a buy and hold passive strategy that involves investing in a diversified, low‐cost, tax‐efficient portfolio of index funds. Research done by organizations like Morningstar and S&P consistently demonstrates that over the long‐term passive investing beats active investing over 80% of the time.
How do you get paid?
I am a fee‐only, hourly investment advisor, which is unique in the market. I do not sell any products, earn any commissions or charge a fee each year for holding your assets. Instead, I get paid on an hourly rate, based on the amount of work I do for my clients. Charging by the hour, I believe, is the fairest pricing model for my clients and more importantly, it helps me avoid any potential conflicts of interest. My hourly rate is $250, and I will not start an engagement with a client until we reach an agreement on the total cost before any work begins.
What do you do for your clients (or why should you work with an advisor)?
- Educate and coach on all matters financial
- Act as a coach
- Answer planning questions and provide analysis
- Identify the levers available to achieve financial goals and work with clients to create a strategy or plan with specific action steps
- Seek to minimize costs and prevent costly financial mistakes
- Help identify and manage the risks in life, financial plan, and portfolio
Are you a fiduciary?
Yes, everything I do and all the advice I give is in the best interest of my clients.
What is the cost of a typical plan?
I offer a variety of planning packages from a coaching engagement that involves 3 ‐ 8 hours of planning work and starts at approximately $2,400 to a customized, holistic plan that involves 15 ‐ 30 hours of planning work over 12 months and costs from $3,500 ‐ $6,000.
Do you provide ongoing services?
Yes, after an initial planning engagement, clients are encouraged to contract for updates every few years or enter into an ongoing advisory relationship where I am available to help at any time.
What is your ideal client?
I specialize in working with individuals, families and small business owners who are active in their retirement planning and who are seeking a partner to help them understand their alternatives, maximize their resources and create a path to their success. There are no asset minimums or other requirements.
What do you expect from your clients?
Planning takes time and effort by both my clients and me. And, it makes no sense to enter into an engagement together unless the client, is committed to the process and the result. So, I ask all my clients to a) provide all required data, b) be engaged in the process, and c) implement the recommendations upon completion of the plan