This portion of our site describes how to proceed if you would like to engage Financial Planning Consultants for financial advisory services.
Getting To Know One Another.
We don't have to tell you that selecting the appropriate firm to work with is a very important first step in planning to meet your financial goals. You want to select an organization that is both thoroughly competent and one you feel personally comfortable working with for the long term. Although we do occasionally accept limited engagements (i.e. Basic Financial Review Service or Insurance & Investment Analysis) our practice is primarily centered upon providing ongoing Family Wealth Management* services for clients wanting "full service" type relationships on a long term basis. This process of getting to know one another well enough to assure there's an appropriate "fit" is vital to our mutual success.
Required Minimums. FPC has certain minimum fees** and thresholds which have been established to ensure that we remain able to provide the high level of personal service and attention which our "full service" and limited engagement clients (existing and new) have come to expect and deserve. These minimum fees and thresholds are:
Family Wealth Management "Full Service" Clients
an annual income of $80,000 and/or $1,500,000 net worth, including residence, and:
a minimum initial planning fee of $2,500 or
a minimum portfolio of liquid assets of $250,000 to be advised upon by FPC.
Limited Engagement-Only Clients
Basic Financial Review Service............................... $1,250 (minimum fee)
Education & Investment Analysis ......................... $500 (minimum fee)
Retirement, Insurance or Estate "Mini-Plans"....... $750 (minimum fee)
Prospective clients who attend one of our workshops or is referred to us may come in at lower minimums. (See Fees
If you are comfortable with these criteria and would like to discuss how we may be of service to you, please contact us. In order for us to get to know one another, a telephone conversation or a meeting with us is the appropriate next step in the process. After you have spoken or met with us, we may mutually agree to schedule a subsequent meeting. At that point, we'll ask you to complete our Financial Planning Data Form
and/or Investment Management Data Form
The Initial Financial Planning Phase. After you return the completed Data Form, we will arrange a date for a preliminary review meeting, generally set several weeks after the date we've received your information. We encourage our client's spouse/companion to attend each meeting, if at all possible. During this meeting we will share our initial understanding of the confidential information you`ve provided, discuss your existing plans and concerns, review how our fee agreements "work" and determine how we might work well together. This meeting is frequently about three hours long, and at the outset, we will discuss your financial goals, which drive the entire wealth management* process. At this point, it is critical to ensure that we have a clear understanding of the relative priorities among your objectives.
Once an agreement has been met, we will prepare a balance sheet and cash flow projection covering the next three to five years, as well as preliminary analysis of your long-term goals. Together, we will review this information, either on the phone or in-person, to verify that all data and assumptions are accurate. Then, we will begin our analysis and plan development.
After the plan is completed, we will schedule our next meeting where we will present the plan and determine implementation responsibilities. The end result is a financial plan that is specific to you and addresses both intangible and tangible goals.
We plan to have two members of our planning staff attend every client meeting. This "double teaming" not only better ensures thorough planning insight, it also reinforces our strongly-held value that all clients are clients of the firm as a whole --- having a claim on the resources of the entire firm. Throughout the meeting, two planners will record notes to serve as the source materials for a written summary of recommendations and a detailed plan of action, which we provide at the end of the initial phase of planning.
Implementation meetings follow the initial planning phase within a few weeks, depending on scheduling opportunities. During these meetings, we typically conclude the financial modeling and draw conclusions about the adequacy of capital to meet objectives, and the sensitivity of these conclusions to the plan for investments, for example, or the assumptions about inflation.
With "educated" insights into the costs of funding your objectives and the rates of return and tolerable risks required to meet those goals, we conclude the initial planning process with a thorough review of investment opportunities and strategies in order to link your overall financial plan with the appropriate design for your investment portfolio. This investment plan will embody your plans and objectives regarding the appropriate allocation for your assets (see Investment Philosophy
). The culmination of this part of the process is the Investment Policy Statement (which describes your portfolio's objectives, the strategy for accomplishing them, and the milestones along the way) including the implementation steps for managing your personal portfolio.
Depending on your circumstances and objectives, all relevant personal financial topics will be added to the agenda. The list of possibilities may be long and varied. They may include development of a stock option strategy, managing exposure to concentrated investment holdings, educational funding strategies, estate planning, life, disability, and liability insurance issues, asset protection and risk management considerations, generation skipping transfers, charitable giving strategies, tax reduction opportunities, executive compensation design, small business succession planning, and on and on. Our objective is to have within our own staff, or be able to assemble from among our professional contacts, all the necessary expertise to respond to any personal financial issue which might be impactful upon your economic well-being.
Ongoing Services. Once our initial planning has been completed, ongoing financial planning occurs as necessary throughout each year to keep your planning up-to-date. As circumstances change or new objectives emerge, we often times meet with clients, face-to-face, to make sure that their plans remain effective. Our use of annual comprehensive financial planning retainers and quarterly investment advisory fees are designed to foster a long-term, active partnership with our clients.
We look forward to discussing our services with you further.
COMPLIMENTARY INTIAL CONSULTATION:
We would be glad to meet and discuss
your needs at a no cost
or obligation consultation. In this meeting, we will examine your situation
and address your concerns, as well as bring to light any issues that you may not have been aware of on your own. If you are out of state, simply call us at 800-808-1302,
or contact us via e-mail
Following the initial consultation, we would like you to consider working with us if we mutually agree that our services can be of value to you. For most clients, their number one need is to determine if their current investment portfolio is allocated properly to meet their needs.
Many clients choose a Portfolio Analysis Review as a way of getting started. This service allows for evaluation of a client's portfolio based on their specific needs and objectives and objectively suggests ways to improve their current investment allocation. Once the analysis is presented to the client they can then determine if they would like to continue on their present course or employ our firm to provide asset management* services.
Perhaps you may only be interested in Financial Planning or one of our other services; the choice is yours. We appreciate the opportunity to help you better meet your needs and objectives.
Click on the below links to learn more about our services:
**Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold thse securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. A list of additional considerations, as well as the fee schedule, is available in the firm's Form ADV Part II as well as the client agreement.