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A HOLISTIC APPROACH TO FINANCIAL PLANNING

WHO NEEDS A FINANCIAL PLANNER?

If you’re even asking that question, the answer is “you”! Everyone benefits from having a financial planner. You may need a holistic financial planner if you’re wondering, “What the heck do I do with my money?” On the flip side, even if you’re more experienced with managing your money, a holistic financial planner could help you imagine answers to questions like, “What’s next? What’s possible?” Think of us as your financial fairy godparent, helping you put intention behind your money, and making your dreams and wishes come true.

WHAT IS HOLISTIC FINANCIAL PLANNING?

At Thinking Big Financial, holistic financial planning is about seeing the bigger picture of how money functions in your life. It’s about helping people use their money with purpose, so that they can build meaningful lives. 

We’ll take a look at your financial situation, short- and long-term goals, and anticipated changes to your lifestyle. We’ll shine a light on your goals and dreams you didn’t even know you had. Depending on your needs, we can help you come up with a spending plan, a risk management strategy, and even an estate plan. In our discussions, we’ll help identify strategies, risks, and opportunities that you may have never considered. We’ll create a clear roadmap for your financial journey. We’ll assess our recommendations together so you feel completely comfortable with moving forward. 

Using holistic, long-term, collaborative financial planning drives our work in aligning your wealth with your life’s vision. Your money isn’t separate from the rest of your life, so why should your financial planning be any different?

A LONG-TERM, COLLABORATIVE APPROACH TO FINANCIAL PLANNING

Building relationships is just as important as building wealth. When you work with us, you’ll have a long-term, accessible collaborator and partner by your side. 

As collaborators, we’ll bring our financial expertise to the table while also learning from you, the expert in your own life, about your values, goals, and aspirations. We listen to what you need to create a well-structured financial plan: Do you want or need to change careers? Has there been a significant life event that needs your attention? Are you expecting a change in your family or household? How do these things potentially impact your financial health? 

Instead of telling you what to do, we’ll collaborate with you to develop a financial plan that is not only responsive to your life but helps you grow, manage, and protect your assets. To us, it’s not impossible to give you peace of mind and financial freedom, especially through collaboration.

Our partnerships are structured to be long-term because we know that it takes time to build a trusting, reliable relationship with a financial advisor. The deeper that relationship gets, the more familiar we are with the big picture of your life and finances. From there, we can see how your money, your daily life, and your dreams work together.  And the more we can tailor our process and guidance to your life, the more we can empower you to take control of your finances.

HOW DO YOU CHARGE FOR YOUR SERVICES?

As a fee-only financial advisor, the only cost of financial planning is a flat annual fee.

Fees for holistic financial planning are based on how much money you earn and your net worth (meaning all your assets minus your debts). Here’s how we calculate fees:

  • 1.0% of income; plus
  • 0.35% of your net worth

The fee is subject to a minimum annual fee of $6,000 for individuals and $8,000 for couples and multi-person households. So in other words, if your calculated fee comes out below that level, the fee is set at the minimum ($6,000 or $8,000 depending on if you are an individual or couple). Fees are paid in monthly or quarterly installments.

Example: Let’s say you’re an individual and you make $300,000 and have $500,000 of net worth. Your calculated fee would be:

  • Income Component: 1.0% x $300,000 = $3,000
  • Net Worth Component: 0.35% x $500,000 = $1,750
  • Calculated fee = $3,000 + $1,750 = $4,750.
  • Since the fee is below the minimum level, it would be set at $6,000 (since you are an individual).

Fees include all financial planning and investment management services.

Some Questions About Financial Planning Answered

Who do you typically worth with?

People who want clear, confident guidance on money decisions and who value an ongoing relationship that evolves as life changes, whether that means career moves, family shifts, major purchases, or other milestones. We also specialize in serving members of the LGBTQ plus community. Demographically, we work with clients across a wide range of life stages, from those just getting started to those transitioning out of work and into what comes next. Learn more here.

Do you offer a one time plan or ongoing advice?

At Thinking Big Financial, we do not offer one time financial plans. While that approach can be useful for some people, we have built our firm around the belief that the best work happens through an ongoing engagement.

What’s the difference between financial planning and investment management?

Planning is the bigger framework that ties together all the different parts of your financial life (goals, cash flow, risk, taxes, savings, estate, benefits). Investment management is one piece of executing that plan.

What's your investment philosophy?

Thinking Big’s approach to investing is all about controlling the controllables: keeping costs low, managing risky behavior, avoiding things we don’t understand, and keeping an eye on your taxes. Read more about our investment philosophy here.

Do I need a specific net worth or income to work with you?

No. We do not have net worth or fee minimums, but our fees may not make sense for some people below certain income levels.

Are you a fiduciary? What does that mean?

Yes. It is common sense to put our clients’ interests ahead of our own, and we are also a fiduciary, which means we are legally required to put the client’s interests first. Because we are fee only financial planners, we avoid the incentives that can exist in other compensation models that sometimes conflict with the client's interests.

How are you compensated? Are you a fee only financial planner?

Yes. Thinking Big Financial does not receive any sort of commissions or referrals. We do not sell any insurance or investment products. We are compensated solely on the financial planning fees that our clients pay us.

Do you help implement the plan, or do you only provide recommendations?

Yes. Our work is conversation based and we will guide you toward the right recommendations, but a critical part of our job is helping you accomplish what you set out to do. That means implementation is a key part of our work.

Do you work with clients virtually or in person in New York City?

Thinking Big Financial predominately works virtually with clients across the country. We can also make accommodations for in-person work in New York City.

Do you provide tax planning or coordinate with my CPA?

Proactive tax planning is a critical part of our work. When appropriate, we will coordinate with your CPA or tax preparer to ensure everything is aligned. We do not prepare tax returns.

Do you help with estate planning?

We are not attorneys and we do not draft legal documents, but we coordinate with your estate planning team and help ensure beneficiary designations, account titling, and overall plan intent align with your estate plan. Learn more here.

I’m interested in learning more. Do you offer free consultation? What’s next?

If you would like to learn more, please book a 15 minute phone consultation. From there, we can talk through your situation and help you decide whether working together makes sense. If it seems like it could be a fit, we’ll set up a longer consultation to meet each other and talk about how we might be able to work together.

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