Comprehensive Financial Planning

There is a lot of complexity when you're trying to fit all the pieces of your financial puzzle together.  Having Modern Cents walk you through that journey can help to set your mind at ease with respect to your most pressing concerns, educate you on all matters related to your financial picture, and give you the confidence to make decisions regarding your finances as you move forward.

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Give us one year.

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Change doesn't happen overnight, and you need time to effect proper new financial habits.

We will work on the six different areas of financial planning over the course of the year.  This ensures that we can build in proper financial education so that you feel confident and comfortable with respect to the recommendations that we will make to you.

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Our Comprehensive Planning Engagement Process:
 

​Phase 1 - Discovery - We review your goals and objectives, personal money biases and identify the scope of work to be accomplished across all financial planning disciplines over the course of the year.

We provide a snapshot of what current state looks like, as well as identify initial red flags in your overall financial health picture.​

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Phase 2 - When All Goes Well - We review your cash flow, savings, and debt to understand and create recommendations for your day-to-day financial management. We then create appropriate savings plans with tax efficiency in mind, leading to improved retirement and investment planning solutions, addressing what matters most to you. We go beyond the basics, offering updated retirement scenario planning that works with your individual needs, to ensure you get the answers you need to make important life choices.

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 Phase 3 - Contingency Planning - Life is full of surprises, which is why we emphasize the importance of contingency planning. Our comprehensive risk management includes emergency funding and meticulous insurance analysis to safeguard your finances through any unforeseen event - be it job loss, death, disability, or illness. Additionally, estate planning ensures no stone is left unturned, protecting you and your loved ones from the unexpected.

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Phase 4 - Ongoing Implementation -  During the final phase of our engagement, we revisit outstanding tasks, remodel any scenarios required and ensure all of your questions have been fully addressed.  Most of our comprehensive clients choose to stay on as ongoing clients after our year ends together.

​​Throughout our engagement, we support our clients using a sophisticated client communication and task management board through monday.com.  After each meeting, we will assign homework to you - with recommendations from our planning work - to work on between meetings.  You can book meetings here, chat with us on any task, send us tasks and messages, and ensure that you are on track with implementing the financial strategies that we have created.

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Detailed meeting notes and all planning deliverables are included after each call.

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COST BREAKDOWN

 

*Adaptive pricing starting at: $3,000 + taxes onboarding PLUS

Domestic Clients: $250/month + taxes

Cross Border or Corporate Clients: $330/month + taxes

Monthly costs commence 30 days after the start of our engagement

 

*Additional costs apply for complexity (cross border, rental properties, corporations, etc.)  Unique factors in your financial picture may lead to a broad potential range of complexity. We will need to discuss more in our consultation call in order to give you firm pricing.

 

*A 1 year commitment required for all new comprehensive clients*

Why does financial planning cost what it costs?
 

Based on research provided by the illustrious Michael Kitces, the financial planning process takes

approximately 35 hours of a planner's time per year for each client (see graphic below).
 

At our hourly rate of $250, this would cost $8,750 per year per client.
 

As we strive to provide a cost effective service for our comprehensive clients, we believe that our pricing is fair
(if not inexpensive!) as a proportion of our time spent on your planning.

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As we do provide a high touch service, where we also meet with our clients on average every 8 weeks,
we believe that the study below does not fully represent the one-on-one time that we spend with our clients.​