Financial Planning

Common reasons clients seek out our expertise:

• Second opinion of current investments
• Retirement planning & projections
• Pension lump sum vs. annuity analysis
• Selection of 401K/403b Plan Choices
• Determine insurance needs
• Analysis on when to take Social Security
• Tax strategies for retirement withdrawals
• Post-divorce planning
• Planning after a death of a loved one
• Education funding for children or grandchildren
• Family wealth transfer planning

Financial Planning is either comprehensive or modular. Comprehensive planning focuses on all areas of a client's financial situation and develops a course of action to help them achieve their personal goals. Modular planning is focusing on a specific area(s).

The financial planning process begins with a discovery phase. You will be given questionnaires & a list of documents to gather for the initial meeting. The first meeting is intended to review data about your income and expenses, taxes, insurance coverage, retirement plans, trusts, investments and other information pertinent to your overall financial situation. We will discuss your goals, objectives, set the scope of the planning engagement.

After the initial meeting, we will analyze your existing situation, and formulate your plan. We will then schedule a follow-up meeting to present our findings & recommendations. We will compare your current situation to the recommendations to illustrate how you will be better positioned to meet your objectives and goals.

We are fee-only and therefor do not sell any products. We are available to you, upon request, to assist in implementing our recommendations in the areas of insurance, estate planning and investments. In addition, annual reviews are suggested to make sure the plan is meeting your objectives and to answer current questions.

Our CERTIFIED FINANCIAL PLANNERS™, Erin Nelsen or Carol Somoano conduct financial planning. 

Lump Sum Distributions

Asset Planning, Inc. will review your distribution options, discuss the tax consequences, and help you plan an investment strategy so this very important asset will increase in value, helping to ensure a secure future.

There are many situations in which you may receive a lump sum distribution from a pension plan. You may have changed jobs, your current employer may have terminated its pension benefit plan, you may be receiving a court ordered distribution because of divorce, or you may have been a beneficiary in a family member’s estate. Whatever the reason, you may be faced with a sizeable lump sum distribution. Careful planning is essential to enable you to use these assets to enhance your retirement years.

Retirement Planning

Retirement should be the reward for many years of hard work. The reality is, neither company pension benefits nor Social Security can guarantee you a secure retirement free from financial worries. Your personal portfolio may be the key factor that determines the type of retirement that you will ultimately experience.

Asset Planning, Inc. will work with you on a retirement plan, and advise you on what you need to do in order to retire when you want and where you want. We will review your lifestyle expenses, savings portfolio, retirement plans, IRAs, and insurance. Then, we’ll make projections for the future. We will help you to feel secure in knowing that you will not outlive your funds.

It is never too early to start planning for your retirement! Whether you have five years or twenty-five years until retirement, let us help you plan, what should be, the best years of your life.

Asset Management

As a registered investment advisory firm, the cornerstone of our services is investing assets to maximize your returns so that your money-based goals can come true. We advise individuals, trusts, pension plans, and small business owners on the investment of their funds.

An investment advisor will develop a customized investment policy based on your individual investment history and level of risk. Current investments will be evaluated and a model portfolio will be established based on your long-term objectives, risk tolerance, and retirement goals, and immediate financial needs such as debt reduction and major purchases. Asset management may be only a small part of the larger financial planning process.

Client education is of paramount concern to us. We will explain topics such as mutual funds, stocks, bonds, and money market funds. Portfolio choices then fall into sub categories such as large cap and small cap stocks and whether they are growth or value. We will go into as much detail as you wish, and then choose appropriate investment vehicles for your portfolio.

The custodians we use for holding your investments are Charles Schwab & Co. Inc. and/or T. D. Ameritrade.  Most of the investments that we choose will be purchased without a charge, load, or transaction fee. We do not receive commissions for investments we recommended. You will receive a monthly statement from Charles Schwab and/or T. D. Ameritrade, and a quarterly statement from Asset Planning, Inc.

Your financial advisor will monitor your portfolio and rebalance the investments as necessary to meet the initial objectives and investment policy. Periodically, you can meet with an advisor to review your portfolio, investment strategy and to make sure your objectives are being met.

We are fee-only advisers.  Your adviser is paid by a flat percentage fee based on the value of the investments under advisement. We are not paid commissions for managing your portfolio.  Our only source of compensation is from our clients directly.  The asset based fee is 1% on the initial portfolio & can decline as the assets reach breakpoints.  Sandra’s minimum portfolio is $400,000, Carol’s minimum portfolio is $100,000.  We offer a sliding scale of fees for larger portfolios.  Portfolio minimums may be waived for financial planning clients.

Establishing and maintaining a relationship with each of our clients is a critical part of our business. The professionals at Asset Planning, Inc. are concerned with your financial success, and will work with you to reach your goals.