Can’t I just do this stuff myself?
Yes – you definitely can. Financial planning is not rocket science. However my clients continually tell me they work with me because they were overwhelmed at the thought of figuring out their ENTIRE financial picture. They didn’t have the time, energy or interest to put in the hours of work it takes to build a financial plan. They also wanted an objective, experienced third party (me) to make sure they were making the best financial decisions possible and give them a heads up on any potential pitfalls.
Are you going to send me a 10 page questionnaire?
No. Most of my clients are very busy professionals. I know that part of why you are looking for assistance with your finances is that you don’t have time to fill out tons of paperwork. We will cover all of the questions that would be in a questionnaire during our first meeting together.
What if my financial paperwork is not organized?
Not a problem. For many of my clients the first thing we do together is work to get their financial paperwork organized. I can get all of your finances organized digitally on Dropbox or Google Drive (or in a file box if your old school). I will set up a file system, scan all the pertinent documents you have and help you track down any additional financial information you need. Once we have everything sorted out then we can get to work on your financial plan.
Some people hire me just to organize their financial paperwork using my quick start service!
I don’t have tons of assets – do I still need a financial plan?
As Alexa von Tobel, CEO of LearnVest, says, “Not having a financial plan is a financial plan – a bad one!”. Everyone should have a clear picture of their finances, regardless of how much money you have currently. You need to know where your money is today and what you want to accomplish with your money in the future. If you are not ready to work with a financial planner I encourage you to read Carl Richard’s “The One-Page Financial Plan”. This simple book shows you how to easily create a basic financial plan yourself.
Why would I want ongoing financial planning?
Ongoing financial planning allows you to have continued clarity around your finances, even as your life changes and evolves. The benefits of ongoing planning include:
- Annual Review of all employer benefits, including stock options.
- Review of your 401(k), IRA and investment accounts annually to ensure the costs and returns are as expected. If any changes need to be made I will come up with a plan for making those adjustments.
- Access to a financial dashboard where you can see all of your accounts and your financial plan in one location. This includes a vault for securely storing financial documents.
- Access to me to discuss any financial opportunities or concerns that come up.
- Lower upfront planning fees since we are working together over the course of a year.
Are you the right planner for me?
- Are you a busy professional who is an expert in your field, but you don’t have time to become a finance expert as well?
- Do you handle the majority of things in your life yourself, but you want some guidance to make sure you are on track with your financial decisions?
- Are you looking for impartial financial advice?
- Are you technically savvy and want to have access to your accounts and information online?
- Do you want quick, efficient meetings, often done online?
- Do you want access to a planner to ask questions as new financial opportunities and concerns pop up?
If you answered yes to these questions then I might be the right planner for you. The best way to find out would be to schedule a 20 minute call so we can get to know one another and see if we will work well together.
Who would not be a fit for Pure Planning?
Again – the answer depends on what you are looking for:
- If you are looking for a financial planner who spends the majority of the time focusing on investments and ways to beat the market then I won’t be the planner for you. I believe a real financial plan includes much more than just investment analysis.
- Do you want to conduct 3 hour meetings in my office, sitting in wingback chairs while my assistant serves you coffee? I’m probably not the best fit – no fancy office and no desire for a 3 hour meeting.
- Do you want to debate Modern Portfolio Theory and strategize on which hot stock is undervalued? That’s not me – I believe in passive, low cost investing.
- Are you interested in a planner who can sell you annuities, insurance or any other product? I don’t sell any products. I only offer financial advice and investment management services.
I don’t want to make money just to hoard it – can you include giving to charity in my plan?
Absolutely. I believe money is a tool to do good. Most of us creating a financial plan have been incredibly fortunate in life. The majority of my clients want to incorporate immediate and future giving in their plans. Pure Planning believes in giving back as well. I currently donate a portion of our profits to Save the Children, Pencils of Promise and Charity Water.
Do you manage investment accounts?
Yes. I can manage investment accounts for you if you are a part of my Peace of Mind Plan. I work with First Ascent Asset Management which offers low cost, tax efficient portfolios tailored to the level of risk that is comfortable for you. The minimum account size is $25,000. Their fee for managing the account is 0.5% for accounts between $25,000 – $100,000. As an example if your account is valued at $50,000 your annual fee will be $250, paid quarterly. For accounts over $100,000 they charge a flat fee of $500 per account. That fee remains a flat $500 for all accounts valued above $100,000.
More details can found in my ADV Part 2.
What if I want to cancel?
For all services & fees clients are entitled to a full refund should termination of the contract occur within five (5) business days. (pursuant to California Code of Regulation, Section 260.235.4(c))
If you decide you would like to cancel the Peace of Mind comprehensive financial plan you can cancel with 30 days notice. Upon termination the fee will be prorated and any unearned fee will be refunded to you.
If you would like to cancel the Quick Start project-based financial planning service you may do so at anytime, however the fees paid up-front for your project will be non-refundable.