Comprehensive Financial Planning
A true financial plan for a family or business is not a “one-and-done” solution. It’s not a giant stack of finished documents and spreadsheets. Financial planning is an ongoing process that helps you make well-informed, mindful decisions throughout life. Your overall financial “puzzle” can be put together in many ways. There is no “right answer”, but there is the right plan for you wherever you are in life.
Thayer Financial’s Comprehensive Financial Planning program is a collaborative experience that guides you in making smarter money decisions and ultimately allows you to create, grow, and keep more wealth. The comprehensive plan comprises guidance in the five financial areas of your life that matter: investments, insurance/risk management, estate planning, retirement/income planning, and taxes.
- Investments – coordinating your assets to achieve the optimal results
- Insurance/risk management – ensuring your proper protection levels
- Estate planning – proactively directing your money where you want it to go
- Retirement/income planning – funding your future
- Taxes – maximizing your wealth in tax-efficient ways
If you are a business owner, you receive a complimentary retirement plan analysis and recommendations (i.e. 401k, SIMPLE IRA, SEP, etc.), as well as a complimentary leadership development and coaching program by StrongLead, LLC, designed just for Thayer Financial clients to help grow your most valuable asset, your business.
Ongoing Annual Fee Minimum:
(This fee is broken down into monthly payments and is offset by investment management fees billed by Thayer Financial.)
A fee off-set example: A client with $400,000 of investable assets with Thayer Financial, will be charged $4,450.00 annually for investment management services. With a $5,500 financial planning fee minimum, the client would be responsible for paying the remaining $1,050.00 a year through either EFT or check on a monthly basis. This would be $87.50 per month.
The ongoing program includes:
- A wealth management and planning strategy that is built around your specific values and goals to put you on the right path
- A Financial Planning Summary, reviewed annually, that defines goals, strategies, and action items
- Tax preparation and filing of your tax returns annually
- Creation of your basic estate planning documents (wills and powers of attorney)
- Quarterly meetings (or as needed) to monitor, adjust, and adapt your strategy as life evolves
- Unlimited advisor access – via email, phone, in-person, or virtually
- Simple and secure online access to all your information
1. Meet Thayer Financial
The process begins with a 20-minute phone call for us to discuss why you contacted Thayer Financial, how we work, the cost of our services, and the process we follow. After this call, you may decide you’d like to meet and get to know each other before you make a decision
2. Get To Know You
During the Get To Know You meeting we will discuss your personal, professional, and financial goals. We will also discuss your balance sheet (income, assets, and liabilities). Once I understand where you are currently and where you want to go, I can put together a 1-page financial plan for you.
3. Analysis and Recommendations
The 1-page plan is complimentary and will serve as a roadmap for you to attain your financial goals. The plan is yours whether you choose to implement the plan yourself or want my help implementing the changes. It won’t be until after this meeting that you have to make a decision to retain our services here at Thayer Financial.
4. Get Organized
Once you’ve made the decision, we’re going to work together to help you get organized. Like most people, your financial life probably isn’t in perfect order. Statements and insurance policies might be buried in drawers and at the bottom of piles. Sometimes we even lose track of old accounts. You’ll bring with you whatever financial information you can easily put your hands on and then I’ll help you find the rest and create an organized way for you to maintain and securely store your entire financial life.
5. Plan Implementation
This part of the planning process is actually a series of meetings and events. We will begin implementing the changes necessary for your financial plan. Everything from tax planning strategies to lower your overall lifetime taxable burden, making sure that you are invested properly to meet your goals, your estate planning strategy is set up correctly, that you are properly insured in every facet of your life and business, and that you have a retirement income strategy that will help you maintain a high quality of life.
6. Review the Progress
To keep up with any life changes, we will continue to meet quarterly (or less frequently if desired) to adjust the course as your life continues to evolve. Goals are not static and many people find that marriages, births, deaths, changes in work status, or real estate purchases change their goals both personally and professionally. As an ongoing financial planning client, Thayer Financial will be there with you every step of the way as a true adviser.