Financial Planning
Financial planning is for clients who want a more in-depth review of their financial situation than investment management typically provides, along with comprehensive advice on financial decisions now and in the future.
Note: you don't have to have investment accounts with Arbutus Wealth Management, PLLC.
What will we cover?
Financial planning may include:
- Goal Setting - what is most important to you?
- Cash & Income Flows - how much does your standard of living cost to maintain and where does the money come from?
- Taxes - your tax situation and any opportunities we may have to reduce taxes over time
- Investments & Other Resources - includes non-security assets, liabilities, timing of major life changes, and growth strategies for assets and income
- Risks & Protection - planning for inflation, incapacity, life and long-term care insurance, retained risks
- Retirement - when can your resources support you without having to work? Do you take Social Security sooner or later? How much of a buffer do you want and need against inflation?
- Estate - trust or next-generation planning, account titles and beneficiaries, charitable giving
- Special Situations - family dynamics, legal and health challenges
How long will this take?
This is a fair bit of work. We won't cover all this in one or two meetings.
Initial financial planning engagements are for twelve months. Clients need time to gather various documents and other information, and I need time to analyze them. We'll cover one part at a time so it's not overwhelming.
Addressing these areas creates an adaptable, tailored plan designed to grow with you.
What does a financial plan include?
- Comprehensive review of the financial planning focus areas most important to you
- Plan implementation guidance
- Coordination with your CPA or attorney
- Quarterly (or more) calls or meetings
- Full printed and/or digital financial plan
- Access to online reports and tools
- Access to an online digital vault, for copies of important documents
How much will this cost?
An initial plan costs $3,000. Some complex situations beyond the usual focus areas above require more in-depth analysis and thus an additional fee.
How often?
Some clients need this only once to establish a baseline and a confident path. Some will want an update in five years or at some significant life change. Others may need a plan every year for some years because they have dynamic situations.