Financial Planning Menu of Services

Weyers McKeever Financial Partners provides a variety of financial planning services. Your financial advisor will work with you to determine which is best for your unique circumstances.

There are three different categories of hourly financial planning services, which vary in complexity and cost.

In order from the simplest to the most complex:

Asset Allocation: Create a simple or detailed Asset Allocation assessment to review your current asset allocation, establish your risk tolerance and create a proposed allocation. Compare your current allocation to the proposed allocation. The areas that are covered in the plan are:

Analysis of Current Asset Allocation
Asset Allocation Recommendation

Information needed from Client: Risk profile questionnaire and listing of all current investment and savings accounts, both qualified and non-qualified.

Estimated time to prepare: 2 to 3 hours

Estimate Total Cost of Plan: $500

Financial Needs Assessment: Basic needs assessment to identify your current financial situation and to clearly illustrate what is required to meet your goals. This is meant to be a checkup of your financial standing. The areas that can be covered in the plan are:

Current Financial Position/Net Worth
Retirement (optional)*
Education (optional)*
Major Purchase Objective (optional)*
Insurance (optional)*

*Must choose one or more of the options

Information Needed from the Client: Listing of all current investment and savings accounts and savings strategies, and the assumed return rate; listing of all current expenses and expenses expected in retirement; listing of current income, projected retirement income (such as pension or Social Security), and projected income needed at retirement; current and expected tax rates; and employee benefits provided through employers.

Estimated time to prepare: 3 to 10 hours

Estimate Total Cost of Plan: $500 to $1,500

Financial Needs Analysis: A comprehensive analysis of your asset allocation, as well as a wide variety of planning topics, at a very detailed level. Depending on what topics you plan to address, not all sections may be utilized. The areas that can be covered in the plan are:

Current Financial Position/Net Worth
Asset Allocation
Social Security Analysis
Cash Flow Analysis
Retirement (optional)*
Education (optional)*
Major Purchase Objective (optional)*
Insurance (optional)*
Estate Planning (optional)*
Monte Carlo Probability Analyses on Goals Covered

*Must choose one or more of the options

Information Needed from the Client: Listing of all savings accounts and savings strategies, along with current statements; listing of all current expenses and expenses expected in retirement; listing of current income and retirement income sources (such as pension or Social Security), and projected income needed at retirement; listing of any active insurance policies, along with current statements; current and expected tax rates; and employee benefits provided through employers. There is typically some correspondence with the client during plan data input in order to ensure accuracy of information in the final plan product.

Estimated time to prepare: 10 to 24 hours

Estimate Total Cost of Plan: $1,500 to $5,000

Financial Planning Grid of Services

	Consultation	Planning	Asset Management	Decision Support	Tax Review*
Planning & Goal Setting	Review planning process Discuss goals Set expectations	Establish current financial position Determine goals and needs Develop action plan	Determine required returns Determine asset allocation	Incorporate situational changes/ life events info action plan (e.g. college planning after having kids)	Working with your tax advisor to make adjustments to plans based on changing tax circumstances
Risk Management	Review risk concepts Discuss insurance Discuss risk tolerance	Determine risk tolerance Compare current insurance vs. needs	Ensure assets are protected through proper insurance Reduce risk where possible	Review and update insurance policies as client situations change	Review pre-tax contributions to insurance products
Employee Benefits	Review employment situation and benefits offered Discuss benefit uses	Gather available benefits Suggest additional uses/allocations	Incorporate 401k/403b plans into portfolio Determine optimal allocations	Evaluate new benefit options Review/adjust retirement plans	Working with your tax advisor to incorporate contributions to or distributions from retirement plans, stock options, etc.
Tax Information*	Understand your current tax prep strategy Discuss potential tax strategies	Gather tax data Suggest tax reduction opportunities	Manage assets in a tax efficient manner.	Review tax situation with your tax advisor and make annual decisions (IRA/Roth IRA contributions, timing of charitable giving, etc.)	Work with tax advisor to accurately file tax returns
Investments	Review current investable assets Discuss investment philosophy	Determine desired returns Determine asset allocation	Buy/sell investment assets Monitor portfolio accounts	Evaluate new investment opportunities Adjust portfolio if goals change	Discuss tax efficient strategies
Retirement Planning	Review retirement plans Discuss potential improvements	Determine retirement needs Suggest implementation methods Simulate results	Manage retirement accounts Implement and monitor retirement plan	Ongoing evaluation of plan Adjustments to saving strategy as needed Self-employed plans	Discuss incorporating contributions to employer retirement plans, IRAs, Roth Accounts, etc.
Estate Planning*	Review estate planning concepts Discuss current implementation	Gather estate planning docs Working with your legal advisor to suggest edits/modifications	Working with your legal advisor to implement estate plan: asset titling, necessary docs, gifting strategies	Periodic review of plan and documents Changes as needs of family evolve Work together with legal team	Assist executor/administrator and your legal/tax professional team with estate tax returns