Making Beautiful Financial Music: Planning Your Financial Year

Making Beautiful Financial Music Planning Your Financial Year

Making Beautiful Financial Music: Planning Your Financial Year

Think of your life as an orchestra for a moment. When the experience is timed out, planned, and coordinated, beautiful music arises. When the orchestra members “wing it” without much preparation, a musical mess may grace your eardrums. And that could have been avoided with some proactive planning before the performance.

Well, keep reading to see how you can space out your proactive financial planning tasks through an easy-to-follow annual cadence. This allows you to address your tasks with rhythm — instead of as a reactive cacophony. 

Financial Planning is a Proactive Process

Here’s where we — your financial planning team — grab an instrument and take a seat. There’s a lot in the realm of financial planning, and it’s common to feel overwhelmed. Just like someone studying music for the first time, the learning curve can feel intense when addressing an unknown subject or when you’re learning at a more advanced level. In addition to being an expert in your own life — personal and professional — how can you find the time to become an expert in so many other areas? These include …

  • Cash-flow planning
  • Tax planning
  • Equity compensation planning
  • Estate planning
  • Insurance and risk management planning
  • Open enrollment and employee benefits
  • Retirement planning
  • Education planning
  • Healthcare and insurance planning
  • Impact and charitable giving planning
  • Investment planning

When we don’t properly coordinate and synchronize these subjects, preventable miscues become more common.

Ounce of Prevention

To help you avoid playing out of tune, our financial planning process can help you chip away at these multiple subjects.

Your Financial Setlist

After your onboarding process or annual financial plan review, you’ll notice a rhythm to your client experience with Financial Planning Fort Collins. We schedule a “setlist” of meetings throughout the year so you can make progress on a variety of personal finance topics. As you conquer one, you’ll move to the next. 

For example, after you establish the basics — like learning chopsticks on the piano — we’ll move onto more complicated financial strategies as we all work on your eventual financial masterpiece!

We find this spaced-out timing method to be less overwhelming and more motivating for you as our client. So what does this look like in practice, and what should you expect this year? Check out your annual calendar below!

Annual Client ExperienceSynchronizing Your Financial Plan

As we do our part to keep your financial plan on track, we’ll monitor your progress. And we’ll proactively invite you to the meetings that we think you’ll find useful. While we might not reach out to you every month — we don’t want to overwhelm you with too-frequent or irrelevant meetings — you can expect regular communications from us. 

It’s a team effort to synchronize your financial plan. We’ll take many things off your to-do list but will still ask you to implement parts of your financial plan. To stay on the musical theme, I’ll pivot to another style of music: classic 90s hip hop. 

To give you some extra motivation to implement the strategies that we address in your annual client experience, we encourage you to sing a little tune whenever you feel discouraged or overwhelmed. Remember the tune from the classic 90s song “Shoop” by Salt n’ Pepa? The repetitive chorus goes:

🎼
Shoop shoop ba-doop
Shoop ba-doop
Shoop ba-doop ba-doop,
Ba-doop
🎼

Now, replace the lyrics with the below words to give yourself a little boost in financial planning motivation: 

Chip Away

If you ask nicely during your client meeting, I’ll also perform this for you to help you stay motivated. Anything I can do to help! 🙂

And don’t forget about your unlimited meeting and consultation time! Head to the meeting page to schedule convenient get-togethers on the topics of your choice at your convenience. 

Want to make sure you’ll receive the invites you want this year? You can always check in with us! Just send a quick note to hello@fpfoco.com to let us know which meetings you’re interested in having. We’ll cross-reference your meeting calendar and add the invites of your choosing. And while we might reach out with additional meeting invitations that we’ve identified, it’s ultimately up to you whether you schedule or not. 

Your Next Musical Movement

As tax season builds to a crescendo, we encourage you to engage in the tax-prep process. If we can resend your invitation email or answer any tax-related questions, just let us know. 

And be sure to stay tuned (pun intended) for these May meetings:

  • Annual Financial Plan Reviews for Spring and Summer Clients
  • Insurance Planning
  • 2022 Tax Planning

If you’re interested in one or more of the above consultations, feel free to request a spot on our guest list. We’ll be sending invitations in mid-April, as tax season comes to a close.

We’ll look forward to meeting with you soon — and making your financial plan a hit!

Not a client yet? See if our ensemble approach is right for you.

Head to our Comprehensive Services page to learn more about what we do for our clients.

Dan Andrews
dan@fpfoco.com

Dan Andrews is a CERTIFIED FINANCIAL PLANNER™ professional, Accredited Estate Planner® designee, and Chartered Advisor in Philanthropy® as well as the Director of Estate and Financial Planning at Financial Planning Fort Collins. Helping clients since 2012, Dan aims to make the financial planning process less daunting. Even though he also has extensive knowledge in estate planning, Dan enjoys financial planning with a professional yet light-hearted approach. To learn more about Dan, read his blogs or the articles he’s been featured in.



MINIMUM ACCOUNT SIZE
The minimum initial investment for the Invest:FOCO platform is only $5,000 per account. This minimum can be met via transfer of an existing account or with new funds.
ANNUAL FEE
1.00% of assets under management ($100 per $10,000 managed). Debited from your account(s).
FINANCIAL PLANNING
Strategy:FOCO financial planning services are ongoing, and include unlimited phone, email, web and in-person meeting and consultation time. Pricing is based on the unique circumstances of each client situation. Generally, there is a one-time plan development fee ranging from $500 - $2,000 and a monthly fee of $150 - $500; cancel anytime. Clients utilizing investment management services with portfolios of $500,000 or more will typically receive financial planning services for no additional fee.
INVESTMENT MANAGEMENT
Assets Under Management (AUM) Annual fee as a % of AUM or flat-dollar
$0 - $249,999 (See Invest:FOCO)
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 - $2,999,999 0.50%
$3,000,000 - $3,999,999 $15,000
$4,000,000 - $4,999,999 $20,000
$5,000,000 or more $25,000 + $2,000 per additional $1mm
MINIMUM ACCOUNT SIZE
There is a minimum initial investment of $100,000 per Strategy:FOCO client household. This minimum can be met via transfer of existing accounts or with new funds. A client household may generally include accounts for a head of household, a significant other, dependents, and any controlled organizations or entities.

Minimums do not apply to inStream proactive financial planning as a stand-alone service.
ANNUAL FEE
Assets Under Management Fee as a % of AUM
$100,000 - $249,999 1.00%
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 or more 0.50%

inStream proactive financial planning as a stand-alone service: $1,000/year or $100/month
MINIMUM ACCOUNT SIZE
There is a minimum initial investment of $100,000 per Strategy:FOCO client household. This minimum can be met via transfer of existing accounts or with new funds. A client household may generally include accounts for a head of household, a significant other, dependents, and any controlled organizations or entities.

Minimums do not apply to inStream proactive financial planning as a stand-alone service.
ANNUAL FEE
Assets Under Management Fee as a % of AUM
$100,000 - $249,999 1.00%
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 or more 0.50%

inStream proactive financial planning as a stand-alone service: $1,000/year or $100/month
MINIMUM ACCOUNT SIZE
The minimum initial investment for the Invest:FOCO platform is only $5,000 per account. This minimum can be met via transfer of an existing account or with new funds. Invest:FOCO is currently available for Individual, Joint, Traditional IRA, and Roth IRA registrations.
ANNUAL FEE
0.65% of assets under management ($65 per $10,000 managed)
MINIMUM ACCOUNT SIZE
The minimum initial investment for the Invest:FOCO platform is only $5,000 per account. This minimum can be met via transfer of an existing account or with new funds.
ANNUAL FEE
0.65% of assets under management ($65 per $10,000 managed)
TAX PREPARATION
Invest:FOCO clients are eligible for a 10% discount on income tax preparation services offered through Fort Collins Tax Service, LLC. This discount applies to the base cost for return preparation as well as Schedules B & D. More details can be found here.
MINIMUM RELATIONSHIP SIZE
There are no minimums when utilizing inStream proactive financial planning as a stand-alone service.

When investment management services are desired, there is a minimum initial investment of $125,000 per Strategy:FOCO client household. This minimum can be met via transfer of existing accounts or with new funds. A client household may generally include accounts for a head of household, a significant other, dependents, and any controlled organizations or entities. inStream proactive financial planning is then included at no additional cost.
ANNUAL FEE
inStream proactive financial planning as a stand-alone service: $1,250/year or $125/month

Assets Under Management Fee as a % of AUM
$125,000 - $249,999 1.00%
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 or more 0.50%
TAX PREPARATION
Strategy:FOCO clients are eligible for a 50% or 100% discount on income tax preparation services offered through Fort Collins Tax Service, LLC. This discount applies to the base cost for return preparation as well as Schedules B & D. More details can be found here.
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Monthly Economic Update
Stay in the loop with our Monthly Economic Update. It's a great way to catch up on the things effecting your financial plan in an easy to read and relatable format.

We promise to only use your name and email address for sending our Monthly Economic Update. We will not sell, rent, lease, loan, or use your name or email address for any other purpose, internally or externally. You can easily unsubscribe at any time.
MINIMUM ACCOUNT SIZE
Minimums do not apply to always-on, real-time financial planning as a stand-alone service.

For investment management services there is a minimum initial investment of $125,000 per Strategy:FOCO client household. This minimum can be met via transfer of existing accounts or with new funds. Investment management fees are generally debited from the accounts to which they apply. Financial planning services are included for Strategy:FOCO investment management clients at no additional charge.
ANNUAL FEE
Always-on, real-time financial planning as a stand-alone service:  $125/month or $1,250/year

Assets Under Management Fee as a % of AUM
$125,000 - $249,999 1.00%
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 or more 0.50%
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FINANCIAL PLANNING
Financial planning services are ongoing, and include unlimited phone, email, web and in-person meeting and consultation time. Pricing is based on the unique circumstances of each client situation. Generally, there is a one-time plan development fee ranging from $500 - $2,000 and a monthly fee of $150 - $500; cancel anytime. Clients utilizing investment management services with portfolios of $500,000 or more will typically receive financial planning services for no additional fee.
INVESTMENT MANAGEMENT
Assets Under Management (AUM) Annual fee as % of AUM or flat-dollar
$0 - $249,999 1.00%
$250,000 - $499,999 0.90%
$500,000 - $999,999 0.80%
$1,000,000 - $1,999,999 0.65%
$2,000,000 - $2,999,999 0.50%
$3,000,000 - $3,999,999 $15,000
$4,000,000 - $4,999,999 $20,000
$5,000,000 or more $25,000 + $2,000 per additional $1mm
ESTIMATE YOUR FEE
Your fee is determined by the complexity of your needs and situation. The primary proxy we use for complexity is your investable net worth, which is generally your total net worth, excluding your primary residence. Your investable net worth includes the value of cash, bonds, stocks, mutual funds, rental real estate, and other business or financial interests. This aligns with the holistic nature of our comprehensive services. You can use the chart below to estimate your fee based on your investable net worth. In some circumstances, your fee may be more than the minimums in the chart below.
Annual Fee Investable Net Worth (INW)
$4,000 (minimum for an individual) Up to $500,000
$6,000 (minimum for couples) Up to $1,000,000
$8,000 Up to $1,500,000
$10,000 Up to $2,000,000
$11,000 Up to $2,500,000
$12,000 Up to $3,000,000
+ $1,000 per additional $1,000,000 of INW
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ESTIMATE YOUR FEE
Your fee is determined by the complexity of your needs and situation. The primary proxy we use for complexity is your net worth, which is the value of what you own — including cash, bonds, stocks, mutual funds, real estate, and other business or financial interests — minus what you owe. Our transparent, flat-dollar pricing aligns with the holistic nature and value of our comprehensive services. You can use the chart below to estimate your fee based on your net worth. In some circumstances, your fee may be more than the minimums in the chart below.
Annualized Flat Fee Net Worth (NW)
$6,000 (our minimum fee) Up to $1,000,000
$8,000 Up to $1,500,000
$10,000 Up to $2,000,000
$12,000 Up to $3,000,000
+ $1,000 per additional $1,000,000 of NW
FEE SCHEDULE
Unless there is truly unique or extraordinary complexity associated with a client’s situation and financial circumstances, our fee will be based on the market value of the assets under management (AUM) for investment management services, subject to a minimum fee of $500 per month. The fee is blended and calculated using the following schedule. We do not require a minimum investment of any amount.
Assets Under Management Annual Fee
$0 - $1,000,000 0.60%
$1,000,000 - $3,000,000 0.50%
$3,000,000 - $5,000,000 0.25%
$5,000,000 and above 0.10%
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