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Fee-Only Financial Planning / Advising in Kitchener Waterloo Cambridge - WD Development
P: 519-569-PLAN(7526)
E: [email protected]
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Pricing

 

 

Comprehensive Plan: starting at $4,800

 

 

Comprehensive plans work well for people who want to get all parts of their financial lives working together towards their goals. 

 

After an introduction call, I will send a proposal for your comprehensive plan, based on your situation, your questions and the complexity of your planning. 

Payment is made in a single payment at the beginning of the planning agreement.  Comprehensive plans cover a 12 month period.  Your proposal includes an estimated number of meetings, however, we may be over the estimate.  As long as our meetings are focused on the initial planning areas, there will not be a price adjustment.  If we find additional planning complexity during our meeting, I may send an updated retainer with an additional amount to cover the additional planning.

 

A comprehensive plan covers all of the main planning areas:

  • cash management
  • tax management
  • risk management
  • investment planning
  • retirement projection
  • estate planning & projection
  • charitable giving

 

 

Modular Planning: $2,400 for the 1st module, $1,800 for subsequent modules

 

Not everyone wants or needs a comprehensive plan.  If your questions are focused around a particular planning area, like retirement projections or investment planning, a modular plan may answer your questions and give you the information that you need to make decisions.

 

The modular planning option includes 2 meetings within 3 months and summary documents.

 

 

Customized Plan Pricing

 

There are situations that don't fit well into a comprehensive or modular plan price.  If your situation is complex, the timeline is uncertain, or both- I will customize your pricing.  If I can't reasonably anticipate how much time will be involved in developing your plan, the above options wouldn't work well.  Either my compensation would be too low (I underestimated the amount of time and expertise needed) or you would be paying way too much (I quoted a high price to cover all possibilities, you paid it and your plan was developed much more quickly and easily than I thought). 

 

If your situation is complex, and there is timeline uncertainty, we will work together using my hourly rate of $250 + tax.  When you use my hourly rate of $250 + sales tax per hour, I track the time spent in meetings, planning, writing documents, any other communication/work that is necessary and I invoice you monthly.  I require a retainer amount to start your plan when you choose my hourly rate.  This retainer amount is applied to your invoices first.  The retainer amount may not may cover all of the planning work that is needed.  If your planning work results in an amount owing to me, you are responsible for covering the outstanding amount.  If your planning work doesn't use all of the initial retainer amount, I will return the unused amount to you.

 

FAQ's

 

Why is planning is expensive?

 

It's time intensive- for every hour that I spend with clients in a meeting, there is 2-4 hours in preparing & summarizing.  Technical skill matters- when I plan for clients, I run 2-10 scenarios to answer the questions and provide the best options.  I don't use planning templates and I don't use general rules, like timing for Canada Pension Plan or the age to convert an RSP to a RIF.  Your situation is unique, so is your plan.  Expertise matters- I can answer common questions that clients have quickly, because I have run hundreds of scenarios over more than 20 years as an advisor.  I can tell you how information applies to you and the implications of different choices.

 

Can I pay for plan over 12 months?  like a subscription payment?

 

No.  I don't offer monthly payment options.  If I did, my costs for invoicing and tracking payments would increase, which means I would have to charge more.  My goal is to keep the payment side of my business as streamlined as possible.

 

What if I have new questions after we've finished my plan?

 

I will give you continued planning options & pricing once we have completed your plan.  The most common options are a review within 12-24 months or 3 meetings per year following a comprehensive plan.  Those options are priced per meeting.