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Our services are based on a process that has proven successful
in assisting our clients chart a course to their desired future.
It starts with our Realizing The Dream™ comprehensive financial
plan. This is outlined in the What is Financial Planning? section
in more detail. This plan starts with typically two meetings lasting
two to three hours each where we get to know who we are serving
and what is important to them. This comprehensive goals and objectives
setting exercise explores a lot of areas most folks haven't thought
of. Once this is completed, we provide a written summary back to
you for your review to ensure everything communicated is captured
correctly. We also provide you with some draft numbers to ensure
we have captured everything and it is accurately reflected on your
personal financial statements. After your confirmation, we begin
to draft the plan, run alternate scenarios, etc. We will provide
you with a sample financial plan to review if you choose to introduce
yourself . Once the financial plan is completed, we offer a Pathways Through Life™ annual retainer service. This includes implementation of your plan, implementation of an investment strategy, tracking of your net worth and on-going monitoring/updating of your financial situation. We also offer tax preparation services on a limited basis to our clients. Many "financial planners" earn all or a significant part of their compensation from commissions generated from the sale of mutual funds, annuities, insurance and various other financial products. This creates an inherent conflict of interest in upholding their fiduciary responsibility to you. A fiduciary relationship is one where the appointed agent has a special relationship of trust and confidence towards the obligations of the other. In our experience, it is difficult for these "financial product salespeople" to recommend no-load mutual funds, low-cost term life insurance, etc. even though their purchase may be in the best interest of their clients. As a matter of fact, in working with a broker-dealer, they are restricted to selling ONLY the products their broker-dealer has on their list or face regulatory inquiries. We believe the fiduciary relationship is compromised at the outset of the relationship. We are paid by you alone and do not receive any commissions or
trailers from the sale of financial products nor any "kick backs"
from any third parties. Our fee is made known up front and
put into an agreement that we both sign. The fee is then fixed
until the work we agreed to is fulfilled, giving you peace of mind
that there are no hidden fees or expenses to surprise you later.
As you can appreciate, calculating a fee is unique to each client's
situation. If you desire a fee estimate, please contact
us and we would be happy to have a discussion with you. To align with our philosophy of comprehensive
financial planning , we base our fee on a sliding scale percentage
based on your total net worth. "Why charge a fee on personal property
and/or home instead of a percentage of investment assets?"
In our view, we may render advice on the tax implications of selling
your home, turning it into a rental or assist you in getting a mortgage
in the US (your debts reduce your net worth yet debt management
is a part of what we do). Besides, the IRS calculates estate
taxes on your entire estate, including your home and the value of
your life insurance. The implementation of your plan may require additional fees to
be paid to other professionals or providers and are not included
in our fees. For example, we may recommend seeking legal counsel
but since we are not attorneys and do not draft legal documents
or render legal advice, additional fees may be required for this
legal counsel. Likewise, there may be expenses in setting
up and implementing an investment allocation based on our recommendations.
The financial institution may require these fees and are in addition
to the fees you pay to us for your planning. |
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