Sycamore Financial Planning’s core service offering, Financial Planning, is designed to provide expert services to the do-it-yourself investor. In this service offering, the client is provided a detailed action plan which the client then implements themselves — with support from Sycamore as needed.
The advice is comprehensive in nature, focusing on the following financial planning topics. Any and all of these areas can be combined for the initial plan as well as on-going financial check-ups.
Evaluation of retirement savings and desired retirement lifestyle. Includes multiple “what-if” scenarios, analysis of retirement savings needs, and retirement income planning as appropriate.
Evaluation of current portfolio & fund expenses, a recommended asset allocation, and specific security selection to implement the recommended asset allocation. Includes IRAs, employer retirement plans, and taxable accounts.
Review of college costs at desired institutions, projected inflation, recommended savings amounts; recommended tax-advantaged savings methods, financial aid and loan options; a road-map for applying for financial support; and investment recommendations for college savings funds.
Evaluation of life, disability, and long-term care insurance policies’ strengths and weaknesses, followed by a recommendation on how much insurance needed and the most advantageous type of insurance products. Includes an analysis of needs for your family if you were to die or become disabled.
Review of current income, debts, monthly spending, fixed expenses, and savings goals; evaluation of how your spending and saving patterns contribute to or hinder attainment of your financial goals. Includes recommendations on debt reduction, suggested adjustments to spending and savings levels, and a discussion of how to accomplish these changes.
A thorough analysis of your investment portfolio, asset allocation, short- and long-term objectives and risk review. This option is designed both for those looking to evaluate the advice of their current investment advisor, as well as those interested in a third-party evaluation of their unadvised portfolios.
Various reviews and recommendations to help: maximize wealth transfer and minimize estate taxes; minimize probate expenses, delays and publicity. Recommendations for management of family assets and to meet individual circumstances including incapacity, special needs, blended families and second marriages. Analysis of property titling to assure proper transfer.
Sycamore follows a standard financial planning process in the preparation of its Financial Planning services, as outlined below.
Our Process. Our process is flexible and is based on each individual or family’s needs and desires. Following is an outline of a typical planning engagement. However, we will discuss the best process for you in your initial consultation.
1. Initial Inquiry. Contact us to discuss our services. We will provide introductory material.
2. FREE Initial Consultation. If you are interested, we will meet with you free of charge. This meeting is an opportunity to exchange information about your needs and objectives, to further discuss which of our services are right for you, and to provide you an estimate of the cost of our services. In preparation for this meeting, you will need to complete our initial consultation and risk tolerance questionnaires available on the Forms page.
3. Data Gathering and Initial Preparation. We will provide a checklist of the items needed to work on your plan. After we receive the items on the checklist, we will follow up with any questions, schedule a Presentation Meeting, and begin to develop your financial plan.
4. Interactive Goal Setting. As we work on your financial plan, we may need to follow-up with you to clarify the information you have provided and to refine your goals and objectives.
5. Analysis and Plan Formulation. We will study various plan scenarios, conclude our research and analysis, and produce the final reports which will include: observations, assumptions, specific recommendations, and an action plan.
6. Presentation of Your Financial Plan. At the Presentation Meeting, we will provide our written recommendations and discuss our service options for implementation:
- You implement the plan.
- We help you implement the plan. Hourly rates apply.
7. Ongoing Updates. Periodic update meetings and reviews are essential to maintain good fiscal health. We recommend you schedule checkup meetings with us every 6 to 12 months.
Sycamore meets with each client to assess their specific needs and customizes the advice topics and associated fees based on each client’s needs. Below are a few sample engagements that will serve to illustrate plans we have prepared for our clients.
Hourly Model. Sycamore Financial Planning’s fees are based on the actual time involved in meeting with you in person or over the phone, researching and analyzing your current situation and providing specific recommendations. An estimate of fees will be provided at the end of your Initial Consultation meeting, when your needs have been fully identified.
Hourly Rate. Sycamore’s services are billed on an hourly basis at a rate of $225 per hour.
Sample Engagements. Below are a few sample engagements and an estimated cost based on our hourly rate and an estimate of the typical hours required to complete the engagement. Actual quotes will be based on individual circumstances. The best way to get an idea of the costs for your particular needs is to contact us to schedule an initial consultation.
- Services: Includes target asset allocation, retirement savings plan, review of basic insurance needs, and review of debt issues. Investment choices are discussed, but no specific investment recommendations are provided.
- Typical Cost: starting at $1,125
Custom Plan: Retirement Planning & Investment Analysis
This is our most popular engagement. It provides a solid foundation for your retirement and a thorough review of your investment portfolio.
- Services: Evaluation of retirement savings and desired retirement lifestyle. Includes multiple “what-if” scenarios, analysis of retirement savings needs, and retirement income planning as appropriate. Evaluation of current portfolio & fund expenses, a recommended asset allocation, and specific security selection to implement the recommended asset allocation. Includes IRAs, employer retirement plans, and taxable accounts.
- Typical Cost: starting at $2,250
- Services: All services as outlined in our Comprehensive Financial Planning practice area including: Retirement Planning, Investment Management, Insurance Planning, Estate Planning, and Tax Planning.
- Typical Cost: starting at $3,600
This service is intended for returning clients, and provides an update and review based on prior analysis.
- Services: Includes review of current cash flow trends since your last engagement with Sycamore as well as an assessment of the applicability of your current asset allocation and recommendations for rebalancing your portfolio as necessary.
- Typical Cost: starting at $900