The Wealth Planning Process
We start with an initial consultation to get an understanding of your situation, whether we're a good fit for your needs, and to set expectations for the planning relationship.
We gather the various parts of your financial life, including 401(k)s, tax returns, homeowner's insurance, and all the other pieces that make up your financial life. We then have a meeting to review everything and to make sure we have a complete picture of your finances.
Within a few weeks, we develop a plan model of your finances, showing where you're going at the moment, and reviewing various scenarios and decisions ahead of you and the financial impact they'll have.
Once you've decided on the plan you'd like to follow, we provide specific recommendations around your finances in order to implement the most effective financial path to accomplish your financial goals, and provide a portfolio recommendation or begin managing investments for you.
The only thing that's certain is uncertainty, so we engage in a long-term program of supporting and updating your wealth plan through a combination of quarterly update meetings, monthly investment and market reports, and support for the day-to-day financial questions and issues that can arise.
Fee and Value Calculator
At MY Wealth Planners®, we use a Net Worth based fee calculation, encompassing all client assets and liabilities, because our wealth management process involves every client asset and liability. Net Worth is calculated as the sum of Assets minus Liabilities (Assets – Liabilities = Net Worth). Use the calculator below to get an estimate of your annual advisory fee, and the monthly increment it would be billed in, as well as an estimate of the value of professional financial advice as indicated by five separate empirical studies.
Annual Advisor Fee
Billed as a Monthly Subscription of:
Estimated Advisor Value*
| Study Quantifying Advisor Value | Quantified Advisor Value | Estimated Value of a Financial Planner For You in One Year | Estimated Value of a Financial Planner For You in Five Years | Estimated Value of a Financial Planner For You in Ten Years |
|---|---|---|---|---|
| Envestnet Capital Sigma | 2.93% Annually | |||
| Morningstar Gamma | 1.59% Annually | |||
| Russell Value of an Advisor | 4.83% Annually | |||
| Vanguard Advisor Alpha | 3.00% Annually | |||
| Vanguard Human Advice | 5.00% Annually |