We provide comprehensive financial planning services to individuals, families, and small business owners.  Following is a listing of some of the areas that may be included in a comprehensive plan developed by FFP:

 

Insurance Needs Analysis

  • Life, health, disability income, long-term care
  • Property & casualty, liability, umbrella coverage

Cash Flow Analysis

  • Debt reduction, budgeting, spending/saving habits
  • Emergency fund
  • Mortgage financing, lease vs. buy decisions

Investment Portfolio Management

  • Risk tolerance, time horizon, investor risk profile
  • Asset allocation/diversification 
  • Investment policy statement design
  • Investment selection, portfolio design & implementation
  • No-load mutual funds, exchange traded funds (ETF's), indexing
  • Low cost, tax efficient investments
  • Active vs. passive portfolio design

Tax Planning

  • Retirement distributions
  • Qualified plans (401k, 403b, 457 plans)
  • IRA rollovers (traditional, Roth)
  • Roth conversions
  • Equity based compensation plans (Employee stock options, restricted stock plans), deferred compensation
  • AMT (Alternative Minimum Tax) issues
  • Education funding (Coverdell ESA's vs. 529 Plans)

Retirement Planning

  • Qualified plan rules & strategies
  • Asset accumulation phase
  • Retirement distribution phase (estimated income needs, projected life expectancy, safe portfolio withdrawal rates)
  • Monte Carlo Simulation (sequence of returns, consistency of returns, withdrawal rates, method of distribution)
  • Government programs (Social Security, Medicare, and Medicaid rules & regulations)

Estate Planning Issues

  • Durable power of attorney, health care power of attorney
  • Wills, trusts and probate avoidance
  • Beneficiary designations
  • Lifetime gifting programs, charitable giving
  • Estate taxes, gift tax exclusion amounts

We are not attorneys, so we do not draft legal documents.  We do, however, work with a number of estate planning attorneys who will provide our clients with quality legal services in the area of estate planning.  Similarly, we work with a number of CPA firms in the areas of complex tax planning, business accounting and tax filing.

We also accept financial planning engagements that are more limited in scope and are designed to look at only a few of these areas rather than the entire listing of topics.  Fees for a comprehensive plan are billed at a flat rate depending on the scope and complexity of the services requested.  Fees for providing advice of a more limited nature are billed at an hourly rate.

In an effort to provide quality financial planning and investment advisory services to our growing client base, new client relationships that provide for the on-going monitoring and review of investment portfolios will now be limited to those with portfolios of at least $100,000.

Life Transitions

Many times a "significant life transition" will cause an individual to seek out the services of a financial planning professional.  Examples of these "life transitions" may include:

  • Marriage
  • Birth of a child or grandchild
  • Substantial inheritance
  • Divorce
  • Sale of a business
  • Career change
  • Caregiving for aging parents
  • Retirement
  • Serious illness
  • Death of a spouse
  • Other major changes in one's life

If you are experiencing one of these events in your life, or if you would like to discuss your financial situation with an independent, fee-only planner, please give us a call.  We would be happy to meet with you, review your current situation, and design a plan to help you achieve your goals.

Issues Facing Retirees

A significant portion of our client base consists of individuals who are already retired or are within a few years of retirement, and although many of the concerns facing retirees are shared by younger individuals as well, some are unique to this age group.  Here is a listing of some of the issues that we can address at FFP:

  1. Will I run out of money?
  2. What if I get sick?
  3. How should I invest my money?
  4. How can I make an impact on the lives of my grandchildren?
  5. How do I protect my assets?
  6. Where will my money come from?
  7. How much will I need?
  8. When should I start collecting Social Security?

If you share these concerns, please give us a call and let us help you sort through these issues.