Financial Planning
Effective financial planning is the process of creating a roadmap to help you reach your financial objectives through proper management of your resources. Our team of experienced wealth managers works with you to understand your unique financial situation, assess your current assets and liabilities, and develop a customized plan to help you achieve your financial goals. We provide ongoing personalized financial advice and guidance, tailored to your specific needs, to help you navigate the complex world of investing and money management and keep your financial management plans on track.
5280 ASSOCIATES FINANCIAL PLANNING
After agreeing on the scope of the financial planning, 5280 Associates team members work with you to collect all relevant information and documents. Modeling software is used to analyze the many possible paths forward. Findings are presented to you, complete with recommendations and action steps. The implementation of these action steps is also assisted by the team. After the initial assessment, 5280 Associates wealth advisors provide ongoing advice, ensuring that your financial management plan keeps pace with your life as it unfolds.
Topics Covered in Financial Planning
General Financial Planning
- Update and prioritize goals
- Update account values
- Establish fundamental goals
- Account consolidation
- Family updates and changes
- 3rd party referrals (CPA, mortgage, etc.)
- Business ownership changes
- Credit report analysis
- Large purchase decision making
- Real estate review
- Debt refinance check
Investment Planning
- Semi-annual review and rebalance
- Performance review
- Fee check
- External account analysis
- Employer retirement plan allocation review
- Stock Option Review
Cash Flow Planning
- Debt management (payoff analysis and tracking)
- Budget and expense review
- Cash flow analysis
- Tax and liquidity planning
- Net worth review
Retirement Tracking and Planning
- Future projections
- Savings amount
- Money Guide Pro
- Monte Carlo analysis
- Retirement income creative strategy
- Social security planning
- Rental property income review
- Required distribution withdrawals
- Required distribution planning
Insurance Analysis
- Basic risk analysis
- Life insurance review
- Disability insurance review
- Long-term care insurance review
- Employer benefits review
- Property and casualty insurance review
- Umbrella insurance review
- Health insurance review
- Real estate rental insurance
- Medicare/Medicaid advice
College Planning
- Savings amount determination
- Account selection
- Investment allocation
- Tax efficiency
Tax Analysis
- General change in tax situation
- Health savings account option
- Employer plan contribution changes
- Roth conversions
- Roth contribution limit check
- Qualified charitable donations
- Planned giving (charitable) analysis
- Tax loss harvesting
- Appreciated asset charitable donations
Estate Analysis
- Beneficiary review of all accounts
- Ownership review of all accounts
- Tax efficient wealth transfer review
- Estate law change discussion
- Trust review
- Health directive review
- Power of attorney review
Process
The 5280 Associates financial planning process begins with an initial analysis. Then, we keep your financial plan on track with regular, ongoing meetings.
Initial Analysis
Introduction
Meet and Greet
Proposal And Agreement
Agree on services and fees
Gather Data
Statement and info collection
Strategy Call
Specific questions after document review
Analysis
Expert examination of your plan
Presentation
Your initial findings and recommendations
Initial Implementation
Put initial recommendations in place with our assistance*
Ongoing Advice
We meet every six months to keep you on track
Pricing
The cost to create and maintain your financial plan depends on the level of complexity you need and the scope of ongoing advice as your circumstances and goals evolve. In every case, however, the fee is flat, transparent, and agreed upon at the onset. You’ll pay an annual flat fee for a 12-month agreement that you are able to renew yearly or cancel. This includes your initial analysis, automated meetings to keep you on track, access to our entire team and their diverse backgrounds, skill sets and specialties, maintaining your plan, and any advice you need. The minimum annual fee for Financial Planning starts at $5,000 for new clients.