More Frequently Asked Questions About Our Services
Smart planning delivers an increase in retirement income when compared to an unplanned approach*.
How do your services work?
We quote you a one-time price to prepare a financial plan. We call this going through our Juicing® process – as it is designed to help you squeeze more out of your money.
Your financial plan projects how well prepared you are to meet your financial goals. A plan is necessary in order to make the appropriate investment recommendations.
Once the plan is understood, the majority of Sensible Money clients hire us for a continuous ongoing relationship to manage investments and provide planning on a holistic basis, a service we call Juicing® Plus.
What does the plan cover?
- If you are near retirement your plan covers the items we discuss on our Time to Drink page.
- If you are farther from retirement your plan covers the items on our Filling Your Cup page.
How long does this take?
- The introductory meeting takes 30 minutes to an hour.
- If you hire us it may take you several hours to gather the data we need to prepare your plan.
- Then plan on meeting with us for 1-2 hours each over a series of 1-3 strategy meetings each spaced about 2-3 weeks apart.
Do I have to move my assets to you in order for you to work with me?
In your 2nd or 3rd strategy meeting you will have the opportunity to decide if our investment management services are a good fit for you. You are not required to move assets to us however our services add the most value for those with $1 million or more in financial assets who are looking for a firm to provide ongoing integrated tax, financial, retirement and investment management.
How are your services priced?
Our initial financial planning engagement is priced as a package of hours at a rate of $200 – $300 an hour, depending on the experience level of the financial planner. Our minimum for the comprehensive Time to Drink service (for those near retirement) is $4,000. This is reflective of 20 hours of work and includes three strategy meeting with specific topics that we cover at each meeting. We collect a $500 deposit when we begin this plan. The remainder of the fee is invoiced upon completion of the plan.
Investment management and Juicing Plus services are structured as a percentage of assets. Rates range from .50 – 1.50% depending on the number of accounts, size of accounts, tax treatment, type of assets, number of holdings, etc. Larger account sizes are eligible for rates on the lower end of the range. If household accounts are $1M or greater then ongoing financial and retirement planning are included in the rate quoted for investment management.
What should I expect in the introductory meeting?
- Expect a friendly conversation! No decisions are required at this meeting.
- We explain our services, we will have questions for you, and you will have questions for us.
What should I bring to the first meeting?
- Bring questions and any data you wish to share with us.
We update and add to the questions above as needed. We have additional information on our permanent frequently asked questions page.