FEE-ONLY FINANCIAL PLANNING
Your Plan: A view of today,
a vision for tomorrow
Fee-only financial planning means that the fee you pay is the only compensation that your financial planner receives. You get a plan for your life, focused exclusively on your interests, not on the interest of a mutual fund company, broker or commissioned salesperson. Donna wants you to clearly understand your situation, your options and your opportunities. This makes your life better and easier through well-organized finances and thoughtful strategic planning.
A financial plan from Donna is comprehensive, and includes all aspects of your financial situation, including budgeting, taxes, insurance, and any estate issues, such as property, dependent children and elder care. If needed, Donna will call on trusted colleagues to help implement the plan. Annual planning is best because life changes, the economy changes and regulations change. Your plan should change too.
Whether you’re just starting out, going through a major life change or want to take advantage of a financial opportunity, financial planning creates the roadmap that will get you there.
Learn more about how to choose a financial advisor.
Embarking on your journey will involve the following steps:
Step 1: A Discussion of Goals and Dreams
An initial meeting gets at the heart of planning – what’s important to you and what you need and hope to accomplish with your financial resources.
In this meeting, you'll be deciding if you want to work with Donna, and she will give you a quote for your fee-only financial plan.
This discussion will include:
Your life stage
• Independent
• Career-focused
• Family-focused
• Empty nest
• RetirementYour career
• Starting, building or managing a business
• Future career moves, including late-stage career changesYour family
• Children’s education
• Special needs of family members, including children and parents
Step 2: Financial Inventory
Once you’ve decided Donna is the planner for you, it’s time to assess your current financial situation.
You provide documents such as tax returns, Quicken statements, investment statements, mortgage documents and insurance policies. In return, you receive an accurate understanding of your specific situation, which informs the framework for your roadmap.
This inventory includes areas that have a significant impact on your finances:
• Investments
• Retirement savings
• Property
• Taxes
• Insurance of all types
Step 3: Analysis and Recommendations
Taking into consideration your current finances and a thorough understanding of what you want to achieve financially, Donna drafts a detailed analysis and strategic plan. It is designed to help you make the best decisions for your life today and tomorrow.
Step 4: Plan Revisions
After discussing the plan recommendations, your plan is revised until it’s just right for you: realistic and achievable within your lifestyle.
Step 5: Plan Implementation
You choose whether to implement the plan yourself or have Donna do so on your behalf.
If you need additional service providers, such as an insurance broker or senior advocate, a network of allied professionals is available to you. As an independent advisor, Donna works with these partners on a referral basis only and receives no fees or commissions.
Step 6: Plan Tracking and Plan Reassessment
Life is always changing, and so do finances. That’s why the plan doesn’t end when you receive the document. In fact, it’s just the beginning.
To keep you on track, Donna meets with you every 6 to 12 months to reassess your situation and goals, then make necessary revisions. If you decide to go somewhere else, she wants to get you there, instead.
