Lodestar Financial Planning offers prospective clients a variety of financial planning options, from one-time planning sessions to ongoing investment consultations and financial advice. Listed below are some of our services and their typical costs. The cost of your service will depend upon the specifics of your circumstance and may be higher or lower than these examples. Customized engagements are offered for those with unique or complex situations. Before you hire us, we will always provide you with a written quote for the full cost of the engagement. Because clients may hire us for a very focused task or more complex financial plans, the fee quote can range from a few hundred to several thousand dollars. Current fees for financial planning services are based on an hourly rate of $300.
Get Acquainted Meeting: No charge – This is an opportunity to exchange information about your needs and objectives, further discuss which of our services might be right for you, and to provide you an estimate of the cost of our services. Remember, we do not accept commissions or referral fees. If you choose to use our services, we will provide a list of additional information that we will need to begin.
Real-Time Financial Planning: Many of our clients tell us they just want a financial check-up to confirm they are on the right track. This affordable 90 minute to two-hour real-time advice session does precisely that! We cover as much as we can about your financial situation during the meeting and send you a summary of recommendations after the session. Cost - fees typically range from $600 to $900.
Real-Time Financial Planning is most appropriate for clients in their 20s and 30s and those with simple financial situations. This is not a comprehensive financial plan. However, we can provide tremendous value during this session.
- Cash Flow / Budgeting / Debt Pay Down Advice
- Basic Investment Philosophy / Strategies*
- Appropriate Retirement Savings Targets / Strategies
- Necessary Life Insurance, Disability Insurance & Long Term Care Insurance Advice
- Employee Benefits Advice
- College Savings Advice
- Other financial issues or concerns you may have
*Note: Detailed investment advice and specific portfolio recommendations may require more behind-the-scenes work than the standard financial check-up session allows.
Portfolio Review: Advice for self-directed investors or second opinions on managed accounts. Cost - fees typically range from $900 to $2,100 for the initial review and recommendations. We look at ALL of your accounts and determine the best strategy for your whole portfolio based on diversification, taxation, and expenses. We provide an analysis for you to implement on your own through a discount broker of your choice.
- Time horizon and risk tolerance
- Asset allocation/Diversification
- 401(k)/403(b)/TSP accounts
- IRAs and other retirement accounts
- Non-retirement accounts
*Note: Complex investment portfolios with numerous unique holdings, annuities, and proprietary investments may require more work than a typical fee range may allow.
Retirement Plan: A detailed financial planning process is looking at your short-term and long-term objectives to determine when retirement is an option. Cost - fees typically range from $2,250 to $4,200.
- Investment portfolio review and recommendations
- Net worth and cash flow statements
- Retirement cash flow projections
- Advice concerning your retirement plans and Social Security
- Overview of estate planning, life insurance needs, and long-term care needs
- Health care cost projections
- Advice on other financial issues or concerns you have
Broad-based Financial Plan: A Broad-based financial plan consists of a detailed written analysis of your financial situation. Cost – fees typically range from $3,600 to $7,200. We consider it the best way to protect against unforeseen financial consequences and reach your financial goals.
- Data collection and processing
- Cash Flow/Net Worth analysis and planning including debt and tax efficiency issues
- Retirement Savings Planning, including stress testing, and projections or Retirement Income Planning for those at or near retirement
- College Savings Planning
- Investment Planning, including research of specific investment recommendations
- Review of primary insurance and estate planning needs/issues
- Working Planning session
- Final analysis, updates, and plan completion
- Plan Presentation Meeting
- Questions on your plan for up to one year (includes follow-up or implementation questions, but not significant additional scenarios or projections)
On-Going Advice - Subscription or Retainer option: Clients who prefer an extended commitment for their financial planning and investment consultation services may prefer to engage us on a retainer fee basis. This fee may be paid in monthly or quarterly installments, in advance. The rate takes into consideration factors such as the complexity and amount of time dedicated to the engagement, your financial profile, other support services required (i.e., paraplanners and administrative staff), etc. The fee typically ranges from $1,200 to $6,000 per year.