Hourly Financial Planning Advice: on an as needed basis for an hourly fee.

Advice is given in the following areas:

Tax Planning* The goal of tax planning is to take advantage of every legal means available to reduce taxes while considering tax risks and to maintain as much tax control as is reasonable. Cash Flow Planning* Observing income and expenses, projecting future cash flow to determine net cash flow surplus and to see the effect of financial planning recommendations on cash flow that considers all sources of income, income taxes, expenses, retirement, and investment contributions. Portfolio Construction Asset Allocation and Investment Selection tailored to a client's investment objective and risk tolerance. Retirement Planning Converting accumulated wealth whether it be a business, farm, or real estate into Cash Flow to cover retirement expenses, maximizing Cash Flow through prudent tax planning and investment selection. College Planning Funding education and taking advantage of all tax benefits. Inheritance & Gift Planning Transferring wealth without tax and maintaining control when desired. Estate Planning* Wealth transfer for future generations Charitable Planning Coordinating charitable gifts, asset selection for charitable gifts, and evaluating tax benefits. Closely held business planning According to the Family Firm Institute only 5% of businesses founded in 1994 survived to 2004.  What causes these businesses to fail?  Usually it is the failure to plan.  The four stages of business: 1) Wonder, 2) Blunder, 3) Thunder, 4) Plunder Real Estate evaluating economic and tax benefits of investment real estate, determining the best way to deal with vacation property Liabilities advice regarding debt management Risk Management life, health and long-term care insurance benefits, liability and disability insurance

Most clients can obtain all the answers to their financial questions in their first meeting called a Preliminary Planning Session.

Personal Financial Planning Notes are dictated after each meeting containing issues discussed and reviewing the recommendations given. Clients can utilize Troy for follow-up meetings for additional advice and help with implementation of recommendations.  Clients are free to choose others for implementation and utilize Troy for advice only.

Financial Plans: For some clients the scope of the engagement requires more comprehensive analysis.  Following the orthodox Financial Planning process, a holistic approach focusing on all financial and psychological factors influencing client's financial goals and objectives, Troy creates customized and personally written Financial Plans containing 13 sections:  Personal Data, Goals & Objectives, Issues & Problems, Assumptions, Financial Statement Analysis, Cash Flow, Income Tax, Risk Management & Insurance, Implementation Schedule, Investments, Financial Independence, and Gift & Estate Analysis and Recommendations. Fees for Financial Plans, if recommended, are quoted at the end of the first meeting and are based on an estimate of the time involved and the complexity of the client's situation.

Continuous Financial Planning: ongoing comprehensive financial planning, continuous advice, management and reporting to clients for a fixed annual advisory/retainer fee. See samples of ongoing financial planning reports

What we do not do: Since we do not prepare legal documents, tax returns, business valuations and business brokerage or broker real estate, among other things, we bring in outside experts as needed.  For example, an owner of a business may be looking for succession planning or advice on how to sell a business with minimal tax effect: outside professionals utilized could include: an accountant or qualified business appraiser, legal counsel, business broker, and specialist in designing and administering Employee Stock Ownership Plans (ESOPs).

*Client's own expert legal or tax advisers are brought in to coordinate these planning areas.  If needed, we recommend legal and tax counsel.  We have no affiliation with any allied professionals, nor are any referral fees paid or received by us.