Financial Planning
What is financial planning, exactly?
There are many pieces to your financial life that need to fit together like a puzzle. Your likelihood for success is higher if you build out the edge pieces first before moving to the interior. Developing a sound financial plan is very similar. Some of your puzzle pieces may include:
- Understanding which accounts to draw down first and finding a safe withdrawal rate.
- Exploring Social Security maximization & timing strategies
- Developing tax-efficient charitable & family gifting strategies
- Reviewing your insurance policies and annuities
- Monitoring your financial goals and plan going forward
You might be wondering…
What does your financial planning process look like?
- We’ll begin with a collaborative conversation with you.
- Then we’ll ask you for a short list of financial information that you can easily and securely upload to our client portal, mail to us, or drop off at our office.
- Once we have a draft ready for your review, we will reach out to schedule a time to review with you. Any additional changes or updates will be made before we send you a final version of your plan.
How will I benefit by going through your financial planning process?
- We provide you with clear and specific short-term action items and recommendations. In a nutshell, clarity, wisdom, and purpose.
- During this entire process, we will help you define your financial goals, optimize the resources you already have, and recommend a plan with a trajectory toward a sound financial future.
- Along the way, we often uncover additional Complimentary Services that add value to your financial life.
- “The plan” represents a point in time and is merely the beginning. Ongoing planning will be the catalyst for your best outcome.
What if I don't want or need a full financial plan?
- For our Investment Management clients, we offer our Five Uses of Money analysis as an alternative to a full plan.
- This is a great option for our younger clients who want to know if they’re on the right path to financial freedom.
- Five Uses analyzes which portion of your income goes to living expenses, savings and investment, charity, debt, and taxes.
How much will a financial plan cost me?
- Our Investment Management clients gain our Financial Planning services on a complimentary basis. We want you to do more financial planning with us, not less.
- If you aren’t interested in our Investment Management services and want to hire P&A solely to do a financial plan for you, the cost is $2,000. Half is due upfront, and the other half is due at the conclusion of the plan.
- If you decide to become an Investment Management client within 12 months of paying for a P&A financial plan, we will credit the $2,000 toward your future management fees.
- For our Financial Planning only clients, we will do a refresh of your plan at the one-year mark.
