After developing a personalized financial plan, clients begin working with us in an ongoing advisory relationship. We begin the implementation of the financial plan recommendations that are tailored to your situation:
- Savings goals – adjust retirement deferrals. Begin saving for identified needs such as emergencies, home improvement or travel.
- Investments - set up investment accounts at our custodian Charles Schwab. Implement our recommended investment allocation changes to both your Schwab accounts and employer retirement accounts.
- Income taxes –Adjust the amount of income taxes withheld to avoid yearend surprises based on our current year tax calculation.
- Insurance - work with an independent insurance broker to consider adjusting life, disability, umbrella and long term care insurance as needed.
- Estate - consult with an estate attorney to update your Wills, Trusts, Health Directive and General Power of Attorney documents.
- College funding – implement or adjust college 529 plan funding and investment allocation.
After the first year implementation phase:
- We meet at least annually to review progress towards your financial goals, provide a summary of assets, review your investment portfolio allocation and make sure estate documents and beneficiary designations are up to date.
- We check in with you at least quarterly to see if there are any issues you wish to discuss.
- We annually rebalance your investment and retirement accounts.
- We collaborate with your tax preparer to plan for investment income and to insure that income tax withholdings are on track.
- We conduct careful analysis for stock option exercise and restricted stock vesting.
- We meet as needed to help you work through life transitions such as promotions, career changes, selling a business or the loss of a spouse
For ongoing financial advisory services, we charge a flat quarterly fee which will vary depending on the size and complexity of your financial situation.
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