PRICING FOR FINANCIAL AND INVESTMENT PLANS

$4,000
Typical First Year Planning Fee
$800
Typical Fee for Annual Updates and Rebalancing
$200/Hour
Additional Work for Planning Clients or Consultation Meetings with Non-Planning Clients
 

For our initial financial and investment planning, the typical fee is $4,000. That fee is contingent on the following three conditions:

Four or fewer investment accounts
We find that the complexity does not depend on the size of the client’s balance sheet or investment portfolio, but rather on the number of accounts for us to analyze and advise upon. A typical household may have two company retirement accounts and two investment accounts, which fits squarely in this estimated fee.

Two month length of engagement to complete the financial planning process
It is our experience that the full financial planning process lasts for two months from recommendation to realistic implementation and we are available for any questions during that time. If the process exceeds two months, we will bill for additional time on an hourly fee of $200/hour.

Implementation of the financial plan by the client
We design financial plans that can executed by the client. But, if the client would prefer to have help with the execution, we are available for an hourly rate of $200. For example, investment or retirement accounts can easily be set up via the internet by the client; however, we can walk the client through this process in person if they’d prefer.

This fee is based on the time to create a financial plan and implement it. Most clients fit into this fee.
For clients with more or less complicated financial or investment situations we will negotiate the fee higher or lower, respectively.

 

Why should You spend $4,000 on a financial plan?

Our clients typically fall into one of two categories: mid- to late-career professionals who currently have assets managed by a financial adviser and early-career professionals who do not yet have a relationship with a financial adviser:

Mid- to Late-Career
For mid- to late-career professionals with assets currently managed by financial advisers the math is clear. With a typical fee of 1% of assets under management, a household with $500,000 in assets with a financial advisor pays $5,000 in recurring annual fees and the fees grow over time. Over 25 years, a mid-career professional with $500,000 in assets under management and saving $10,000 per year would pay $250,000 in cumulative fees! We want you to keep that money for yourself, and our typical $4,000 financial and investment planning fee sets you up for a lifetime of do-it-yourself investing.

Can you really learn to do-it-yourself? Absolutely. We can teach you. We will sit with you and take you step-by-step through the process of buying and selling mutual funds and exchange traded funds with the asset allocations and the tax advantaged accounts that make sense for you. Give someone a fish and you feed them for a day. Teach someone to fish and you feed them for a lifetime.

 

Early-Career
For early-career professionals, the best time for a financial plan is at the beginning of your career when you can set the course for a lifetime of smart financial decisions. We can help early-career professionals think about household budgeting, tax issues, student loans, mortgages, healthcare costs, college savings and DIY investing. We help you take advantage of opportunities and avoid pitfalls. There’s an old saying that diagnosis without examination is malpractice, and we believe that investing without comprehensive financial planning is equally ill-advised.

We address a range of financial topics that traditional financial advisers cannot or will not discuss with you. In fact, most traditional financial advisers will not even accept clients without assets. If you do find a financial adviser that will talk to you, their incentive is to steer your savings into accounts they manage rather than advise you, as we would, on other prudent uses of your cash flow like student loan repayment or investing in company sponsored 401(k)s or 403(b)s.  

  

Common Financial Planning Questions We Address

  1. Should I contribute to a Roth or Traditional 401(k)?
  2. Should I do a backdoor Roth IRA?
  3. Should I refinance my student loans or stay in the PSLF?
  4. Should I put my student loans in the IBR or REPAYE program?
  5. Should I rent or buy a home during my medical residency?
  6. Should I save for a down payment on a home or pay down student loans?
  7. How should I invest in my 403(b)?
  8. Should I use the 457 plan? How do I vet the financial viability of my hospital to determine if it is good to use?
  9. How much should I save for college? How do I open and invest in a 529 plan?
  10. How can I use individual 401(k)s with 1099 income?
  11. How much do I need to save to retire or achieve “work optional” status by age 50 or 60?
  12. How much home can I afford?
  13. Should I use the HSA or the regular health plan at work?
  14. Should I pay health expenses with the HSA or out of pocket?
  15. How can I set up my own investment accounts?
  16. Where should I invest my money?
  17. How do I allocate accounts across a portfolio to keep bond income out of taxable accounts?
  18. What is the best money management system that works for your clients?
  19. How do you set up savings accruals to keep a money management system working?
  20. Can you help me vet two job opportunities with different pay and benefits?