After a 15 minute introduction call, we will schedule our initial meeting. The whole purpose of this meeting is to get to know each other and discuss your goals. You should feel no stress to try and gather all your financial statements in advance of this meeting. If you are able to, that’s great and we will gladly take copies! The purpose of this meeting is not to go over the minute details though, it’s to go over a potential relationship at a high level and see if it’s a good fit for both of us.
Everything that is part of your complete financial picture, typically referred to as “holistic financial planning.” This includes, but is not limited to, creating strategies for: Investing, Employee Benefits, Estate Planning, Philanthropic Goals, Cash Management, Debt Management, Income Tax Planning, Retirement Planning, Portfolio Implementation & Monitoring, and Risk Management. Sorry, we don’t prepare tax returns and we don’t offer dog walking.
Individuals. Our clients run the gamut from young professionals, to pre-retirees, to actual real retirees (yes, they exist!). We do have a common psychographic, we consider all our clients to be “lifelong learners”. They are highly engaged in understanding their world, and it’s our job to educate them. They have the intellectual capacity and the desire for good financial planning, but are often short on the time.
Many of our clients are what the industry calls HENRYs. High Earners, Not Rich… Yet. These are professionals in the accumulation phase of their journey. They are often incredibly busy. However, this is also the time where good financial housekeeping often makes the most difference. We pride ourselves in having solutions for working with them in an extremely convenient manner.
Yes! While we love being able to meet with our clients through the Greater New York Metro area often, we also regulary enjoy virtual (e.g. Zoom) meetings with clients everywhere. Because we are an SEC registered advisor (as opposed to any specific state) we have the potential to serve clients all over.
First and foremost, we want to be your go-to destination for any financial question. Not sure if your question has financial implications? Ask us anyways. Grab your phone and call us, shoot us a text, or fire an email between subway stops. Our communication with clients is both prompt and unlimited.
Typically, we will reach out to you quarterly to schedule a formal meeting. Don’t want to get together that often? Then take a rain check. Generally we advise that clients meet with us at least twice a year and we will encourage you to do that. Got a matter in the interim that requires attention? Let’s get together.
For the majority of our clients, the traditional Assets Under Management approach continues to make the most sense. This allows us to provide financial planning along with our most sophisticated investment portfolio solutions. We can bill our advisory fee directly to their investment accounts. This fee starts at 1% on the first $2M of assets. After that it tiers lower, eventually reaching 0.50% for assets of $10M.
We also have the ability to offer a simple pricing structure based on the “retainer” model. Based on your financial complexity we can quote you an annual fee and bill you for it directly on a monthly basis. You pay via your bank accounts or credit card. The fee for all of our services begins at $5,000 per year and may go up to as much as $20,000 per year based on your situation.
Yes! The CFP Board Standards of Conduct require that we act as a fiduciary at all times when providing financial advice to a client, and our continued certification as a CFP® professional is contingent on upholding this fiduciary duty to our clients.
Foremost, we never take custody of your assets. We use third-party custodians to protect your assets and ensure that they remain owned by you the client, and never us. We use best-in-class custodians, which you have likely heard of, including Charles Schwab, TD Ameritrade, Betterment, and Interactive Brokers. They are all members of the Securities Investor Protection Corporation (SIPC), insurance coverage to protect client assets. This, of course, does not protect your assets from the volatility of the stock market.