|
Financial Planning is the allocation of limited financial resources to unlimited alternatives. The process of financial planning is applicable to anyone, at any income or net worth level, as all resources are ultimately limited. Therefore, everyone needs some level of financial planning. As a result, we have tried to establish different levels of service so that any potential client can benefit from working with our firm. This list of our services will describe what we provide to our clients and the associated fees for those services.
Initial Consultation
This session is an opportunity for us to exchange information about your goals and objectives and further discuss our services to determine if they may be appropriate for you. The initial consultation typically takes approximately forty-five minutes to one hour. Following our meeting, we will provide you with a proposal and Financial Consulting and Compensation Agreement that will include a summary of services to be rendered and the fee for services. Prior to this meeting, potential clients should fill out our Confidential Client Questionnaire(pdf format). There is no charge for, nor any obligation as a result of, this Initial Consultation.
Comprehensive Financial Planning Services
Comprehensive Financial Planning includes several stages, as indicated in the Financial and Life Planning Compass. We start by getting to know you. What is your vision? What are you working toward? What is your purpose in life? What are you passionate about? What are your ultimate goals in life? Understanding our clients and what their true objectives are is absolutely foundational in building a financial plan. From there, we analyze the clients' current personal and financial situation and formalize a strategy to accomplish their personal and financial goals. All components of the Financial and Life Planning Compass will be covered, as appropriate based on the clients' situation. We will then know where our clients are, where they want to go, and how they are going to get there.
These services are offered to clients on an hourly or project fee basis, whichever best meets the clients situation ($150/hour, the fee may be tax deductible). The fee for the plan is based upon the complexity of your individual situation and the amount of time expected to be involved in gathering the data, preparing the plan, and presenting the financial plan. The fee will be included in the clients' proposal, which must be signed by the client and Collie Financial Planning, Inc. prior to commencing the plan.
AdvisorSelect Ongoing Advisory Relationship
Financial Planning requires implementation. It is an ongoing process that must have continual monitoring and review. Because we desire to develop true partnerships that lead to impactful and deep advisory relationships with our clients, we offer AdvisorSelect. In order to ensure that servicing clients and exceeding their expectations is always the top priority of our firm, each Financial Planner in our firm will work with no more than 100 AdvisorSelect clients.
After completing the review of your financial plan, if you would like to move forward with an ongoing, long-term relationship with Collie Financial Planning, Inc., you may choose to be an AdvisorSelect client. As an AdvisorSelect client, Collie Financial Planning, Inc. will be actively involved in implementing the recommendations of your comprehensive financial plan. Furthermore, this relationship involves ongoing comprehensive financial planning and investment advisory services. Collie Financial Planning, Inc. will build clients' investment portfolios, actively monitor them over the course of the year, rebalance if necessary, harvest tax losses as appropriate, invest additional cash as it comes available, if appropriate, and make adjustments over time as your personal situation evolves. We will meet in person two to four times per year to review your financial and life planning goals and your progress toward achieving them.
Clients who do not need a full comprehensive plan can benefit from the investment advisory services and ongoing planning recommendations as an AdvisorSelect client. These services will always be free from conflicts of interest(pdf format) as Collie Financial Planning, Inc. is compensated solely by the client, and does not accept commissions or compensation of any kind based on the products that are recommended. We are 100% focused on the clients' needs, 100% of the time.
The quarterly retainer fee for AdvisorSelect clients is calculated in a way that ties our compensation to the success of our clients. The minimum quarterly fee is $375.
Hourly Consultation
Some potential clients may not need a full comprehensive financial plan. They may not have substantial investment assets that need to be managed on an ongoing basis. Because we understand that all clients have varying needs depending upon their current stage of life, we offer consultation on an hourly basis. This is a way for us to serve clients who need some basic advice and direction while they are in the early phases of life and financial planning. These rates start at $150 per hour. We will always discuss these fees and the amount of time expected to cover the clients' needs so that there are clear expectations of what these fees might amount to for the client.
Thank you for inquiring about our services. We look forward to partnering with you and guiding you toward Financial Freedom!
|