Yes. While many financial planners present a documents as a financial plan, in addition to our written summary, analysis, and recommendations, all of our clients receive access to an online platform that enables them to centralize and organize all aspects of their financial lives. The platform is free for 90 days from the start of the engagement. For clients who wish to use this platform to maintain and monitor their financial plan over time, ongoing access is available for $25 per month.

Additionally, all clients have permanent access to our free proprietary password management software, Password Guru, and to a unique service we provide to help clients expeditiously and inexpensively get their estate planning documents drafted and implemented.

No. Under our fee-only financial planning agreement, clients are paying only for advice. While we may make specific investment recommendations or provide guidance regarding insurance products, it is the choice and responsibility of the clients to implement those recommendations on their own.

The generally accepted 7-step financial planning process is as follows:

Step 1: Learn the client’s background information and financial circumstances.
Step 2: Identify client’s specific financial planning goals and objectives.
Step 3: Analyze the data that has been gathered in relation to the goals and objectives.
Step 4: Develop a written plan and recommendations.
Step 5: Present the plan.
Step 6: Implementation.
Step 7: Ongoing monitoring.

Our one-time flat fee planning reviews encompass steps 1-5. Clients may elect to engage us over time to cover steps 6 & 7 under a separate agreement if they choose.

The following are examples of scenarios in which our fee-only models may be an excellent fit:

• Consumers who are seeking comprehensive financial planning guidance beyond just investment management.

• DIY consumers who prefer to manage their own portfolios, but wish to have an objective professional assessment of their financial position and/or are seeking planning guidance beyond just investment management.

• Consumers who are currently working with another financial advisor but wish to obtain an objective second opinion.

• Consumers who may be interested in gaining ongoing access to a financial planning platform instead of just paying for a financial planning document.

Note: Consumers who are seeking ongoing direct portfolio management are probably not a great fit for our fee-only planning model.

All financial planners whose service models include advice pertaining to investment management and securities are held to a fiduciary standard of conduct as described in the Investment Advisers Act of 1940. This standard includes an obligation to place the client’s interest above those of the financial planner, to disclose potential conflicts of interest and theme where possible, and clearly present all material facts.

Under our fee-only planning agreement we are transparent in our fee disclosures and the terms of our engagement. Although the fee-only model is sometimes described as being “conflict-free” from an economics perspective, all financial advisor compensation models have certain incentive structures that may conflict with client interests. In the fee-only planning agreement, consumers should be aware that all fee-only planners have an inherent, unavoidable incentive to complete our tasks with as little time and effort as possible.

Yes. All financial planners whose service models include advice pertaining to investment management and securities are specifically regulated under the Investment Advisers Act of 1940. This is explicitly spelled out in Securities Exchange Commission issued Interpretive Release
IA-1092 The Applicability of the Advisers Act to Financial Planners.

In terms of specific regulatory oversight, ALL financial planners who are governed by the Advisers Act are required to registered with the SEC and to provide consumers with a copy of a plain English disclosure brochure (SEC Forms ADV 2A and 2B) that includes the planners service model, compensation structure, education and professional experience, potential conflicts, and regulatory and/or criminal disclosure histories. These documents are to be provided to prospective clients at or before engaging the planner’s services with updated versions provided at least annually. Consumers may also review the financial planner’s professional and regulatory disclosure history by visiting the SEC Investment Adviser Public Disclosure (SEC IAPD) website at Adviserinfo.sec.gov.

Ongoing oversight and enforcement of financial planners whose business models do not involve direct portfolio management is provided at the state level by the offices of each state’s Securities Commissioner.

Under our fee-only planning agreement we are transparent in our fee disclosures and the terms of our engagement. Although the fee-only model is sometimes described as being “conflict-free” from an economics perspective, all financial advisor compensation models have certain incentive structures that may conflict with client interests. In the fee-only planning agreement, consumers should be aware that all fee-only planners have an inherent, unavoidable incentive to complete our tasks with as little time and effort as possible.