Financial Planning

Here are some questions we are often asked by people seeking financial advice:

What is financial planning?
Financial planning is planning for your financial future; like any plan, a financial plan involves defining goals and determining how best to achieve them. Defining goals begins by a soul searching process and should not be limited to what you ought to want or what you think you can achieve. Our financial planning is based on a deep examination of dreams and desires. Once your goals are defined, taking a thoughtful, comprehensive approach to your financial future makes you more likely to achieve your goals. A considered, well-imagined financial plan requires professional advice and information; it is your roadmap to your goals.

“A good plan today is better
than a perfect plan tomorrow.”

– General George S. Patton

Who can benefit from financial planning services?
Financial planning is valuable to any person who wants to proactively plan his or her financial future. One of the most critical and fundamental financial planning issues people face is cash flow. Often cash flow management is the key to changing your financial life and achieving life goals. Other specific problems or needs, such as retirement goals, long-term care for yourself and your loved ones, or college planning, can be addressed through either comprehensive or project financial planning. A comprehensive plan addresses all aspects of your life, creating the best pathway to help you achieve short-term, mid-term, and long-term goals. Whether you are just starting to plan for the future or nearing retirement, a financial planner may be able to help you meet your goals.

What is comprehensive financial planning?
Comprehensive financial planning gives an overview of your financial situation and how your financial life relates to all aspects of your life. It takes into account all areas of your finances. The interrelated aspects of your finances—taxes, cash flow, expenses—are all considered in an integrated, comprehensive plan. A comprehensive financial plan will provide a roadmap toward meeting your financial goals. Comprehensive planning includes estate planning, tax planning, portfolio management, cash flow management, risk management, retirement planning, education planning, business planning, and other financial needs.

What if I don’t need comprehensive planning services?
Because we believe that financial services need to be customized and personalized, we provide planning services suited to your needs. We can provide advice on an hourly basis, or provide financial planning services limited to one or several aspects of your life.

What is a fee-only financial planner?
Fee-only financial planners are compensated only through fees paid by their clients. Many financial planners receive commissions on financial products, incentives to sell certain financial products, or other types of compensation. Some financial planners are fee-based, but are still tied to a large financial product firm. This relationship represents a conflict of interest: a financial planner who profits from commissions is motivated to sell commission products. A financial planner who has ties to a large investment company may be motivated to sell that company’s products, either by direct incentives or by the desire to succeed within the larger company. By operating on a fee-only basis, we assure that our only goal is to give you the best possible financial advice for your unique needs.

How are other types of financial planners compensated?
Some planners are entirely commission-based, and do not charge fees. Other planners charge fees for services and also receive commissions from selling products. We receive no commissions and have no reliance upon any particular financial product.