At Ballast Point Financial Planning, we provide advice, not products. That is why we are a fee-only firm that does not receive commissions, kick backs, or any type of revenue from our vendor relationships. As a fiduciary, we always strive to put your interests first, thus our fees are very clear and transparent.
The only fees we collect come directly from you, the client. Whether we recommend an insurance product, a specific investment strategy, paying down debt, or getting your estate plan done, you can rest assured that we are making these recommendations because they are in your best interest and not to pad our bottom line.
One Fee - Three Major Services
Individuals pay an annual retainer of $5,000
Couples pay an annual retainer of $7,500
Note: Based on normal complexity. 1/4 of the annual retainer is due at the beginning of our relationship and will cover your first 90 days of work. Thereafter, you have the choice to pay the retainer fee in monthly or quarterly installments.
What do you get?
Comprehensive financial planning as described below
Investment management and advice
Preparation of your Federal and state tax returns. In addition, we do tax projections to provide forward looking tax advice on how to minimize your tax burden
COMPREHENSIVE FINANCIAL PLANNING
We will follow a three-step process to create a comprehensive financial plan that aligns your financial goals with your values.
1. First, we will understand what money means to you and how it fits into your life. Then we will organize your finances so you have a clear picture of where you currently stand right now.
2. Next, we will talk about your financial goals. What are your short, medium, and long-term goals? What are your dreams? We will work together to clarify your goals so that they are crystal clear and tangible.
3. Finally, we will create actionable steps to get you on a path towards financial independence.
This process is not something we do once and set aside on a bookshelf. Like physical fitness, your financial fitness needs constant attention throughout your professional career and beyond. But don’t worry, we will be there every step of the way to guide you and to make sure your money is working hard for you!
Example Clients Include:
Example #1: You are a young family that just got married or had a baby. One of you works for a tech company and one of you runs your own small business. Part of your compensation is from company stock and you may have accumulated a large position that you want to diversify in a tax-efficient manner. You think you need life insurance, an estate plan, and to start saving for college, but you don't want to be sold something you don't need. You may have some cash sitting in your bank account and feel like you may be missing out on some investment opportunities. Your annual retainer would be $7,500.
Example #2: You are a young professional a few years into your career. You are doing well moving up the corporate ladder and your personal finances seem to be getting more complex. You know the answers are out there, but you are looking for a professional to help shorten your learning curve and filter out all the noise on the internet. You also can't seem to make any progress on your student loan debt. Instead of pouring over personal finance blogs, you want someone to co-create a financial plan with. Your annual fee would be $5,000.
Note: We would like you to commit to a one-year engagement so that you can see the results of our work together over time. We want you to be happy that you are paying your retainer fee and that you have us in your corner. However, if you "graduate" and we have helped automate your finances as much as we can, we will be happy knowing that you are on a good path towards financial independence. We reserve the right to waive the one-year commitment in special circumstances such as job-loss or other extenuating circumstances.