How We Work With Clients
Carrie and her team take an uncommon approach within the financial services industry by providing specific, personalized financial planning advice on an hourly or flat-fee project basis, and at a specific, transparent price.
Our goal is to provide you with a thorough financial plan that is simple enough for you to implement and manage in the future. Our engagements are time-limited and defined; however, we are here for you when you need your plan updated due to major life changes, as you transition into a new season of life, or annually for a financial planning check-up. Ultimately, we want to help set you up for financial self-sufficiency and provide follow-up advice on an as-needed basis.
This approach generally appeals to clients who are self-directed and want to take more control of their finances, as well as clients who either do not have enough assets to meet a money manager’s minimum or do not want to pay an ongoing fee to a money manager based on a percentage of their assets. Our aim is to support clients to have the capacity, temperament and energy to implement their own financial plan.
Packages & Pricing
Based on Carrie’s experience in providing personalized financial planning advice, she has put together five packages that address the most frequently asked financial planning questions. A price range is provided below for each package, and final price will depend on the complexity of your financial situation.
College Savings Plan - We will help you determine what it will cost for your child to attend a public or private university, how much you need to save to fund this goal, how to invest your college savings, and the tax implications of using various tax-advantaged accounts as savings vehicles. The cost for a basic college savings plan ranges from $500 to $1000.
Investment Portfolio Review – We will review your current investment and retirement accounts and assess them for strengths and weaknesses. We will examine your current portfolio to ensure it is in line with your risk tolerance and time horizon, is properly allocated and globally diversified, and is making the best use of tax-advantaged accounts. If changes are recommended, we will guide you on the most tax-efficient manner of making necessary trades. The cost for a basic portfolio review ranges from $1000 to $1500. Please note that we are not “stock pickers” but rather index fund- and ETF-oriented financial planners – for more information on our investment philosophy, please see Carrie’s Statement of Investment Philosophy & Approach.
Retirement Spending Plan – Taking a cash flow-based approach, we will help you determine your spending needs in retirement and how to meet these needs with your retirement income and assets. In our analysis, we will use statistical methods to help determine the likelihood of your plan’s success. Based on your needs, we can create multiple “What-If” scenarios that model different retirement ages, spending levels and market returns. Finally, we will examine opportunities to reduce taxes. This plan also includes an Investment Portfolio Review (see above for a description of this service) as we have found that a retirement spending plan is better if supported by a strong investment plan. The cost for a basic retirement spending plan ranges from $2000 to $2500.
Comprehensive Financial Plan – A comprehensive financial plan generally consists of all of the services listed above (college savings plan, investment portfolio review and retirement spending plan) as well as additional topics such as budgeting, debt reduction, insurance planning, income tax planning and basic estate planning. The cost for a basic comprehensive financial plan ranges from $2,500 to $3,000.
Financial Planning Check-Up – For clients who have had a recently completed financial plan within the past few years, we will update the plan based on new circumstances and will assist in rebalancing investment and retirement accounts based on the target asset allocation (if needed). Pricing for this service is generally 25% to 50% of the cost of the initial plan. Please note that if changes to your financial situation are significant and/or several years have gone by since your last financial plan with us, it may be more appropriate to create a new plan instead of a quick update to a pre-existing plan.
Carrie and her team also provide advice for specific financial planning questions that are either more targeted or do not fall within the scope of the above packages at the rate of $250 per hour.