The role of Premier Financial Planning, Inc. is to assist you in the attainment of your personal and financial goals. Our approach to providing this service starts with gathering your current financial and subjective information. Your goals and objectives, time horizon, and risk tolerance are identified and outlined. Your information is analyzed to provide a comparison of where you are today in relation to the attainment of your goals. A comprehensive financial plan is prepared to discuss your individual situation, along with various alternatives for consideration. Your plan will include information to inform you about the implications of selecting a particular alternative. In all our dealings, we will conduct ourselves with the utmost professionalism with due regard to the privacy and sensitivity of your information with which we have been entrusted. We will utilize open and honest communications with you at all times. Our conduct will always be governed by the highest sense of responsibility and integrity.
Attain a more Balanced, Fulfilling and Meaningful Life
We endeavor to consistently act in your best interest, placing your interest ahead of our own. We will maintain the highest levels of professional competence, allowing us to maintain a leadership position in providing state-of-the-art financial planning and investment advisory services to you. This requires adherence to standards of professional certification and continuing education. Our belief is that you should be both informed and proactively involved in your own personal financial affairs. The financial planning process is ongoing. As required by your particular situation, your financial plan will be reviewed and, if necessary, revised to reflect changes in tax laws, investment and economic conditions, as well as changes in your goals and financial circumstances. It is our goal to become your chief financial advisor and to coordinate the efforts of your other advisors in your best interests.
If desired, investment and/or risk management services may be coupled with your financial plan to provide a one-stop comprehensive service. One of the most important roles we have as a financial advisor is to assist you during the implementation phase of your financial planning. This is when the plan alternatives selected by you are put into action. The true value of our services is not in creating the financial plan itself, but in the results you achieve through its implementation. Hence, we will encourage and assist you in implementing the plan so you may realize the fulfillment of your financial objectives. However, it should be clearly understood that there is no obligation to utilize our services for any plan implementations. You will choose which, if any, recommendations you wish to implement, and in what manner any implementation will be conducted.
Financial Life Planning
Your life and your money are inextricably linked. If you’re like most people, your goal isn’t to increase your net worth for its own sake, but rather to use your accumulated assets to attain a more balanced, fulfilling, and meaningful life.
A recent addition to our list of comprehensive services, Financial Life Planning is a tool that can advance your quest. It guides you as you invest your time, energy, and financial resources to create the life you want. Financial Life Planning is of particular assistance during periods of time when you may encounter a life-changing event, such as retirement, death, marriage or divorce. For instance, the retirement model that fit your parents’ generation no longer applies today. Financial Life Planning techniques provide a framework to guide and motivate your preparation for retirement, considering not just the money you’ll need but the lifestyle you want to enjoy.
Your life spans a series of transitions that include a financial component. Financial Life Planning offers both practical strategies and the emotional support to help you successfully navigate major life changes.
Premier strives to organize and simplify your financial life. Our services include:
Financial Planning Services
Investment Advisory Services
Fringe Benefit Consulting Services
Attain Peace of Mind
Financial Planning Services
The ultimate goal of comprehensive financial planning services is to attain peace of mind. Peace of mind that you now have a comprehensive plan to coordinate your financial life towards the structured achievement of your stated objectives.
Your comprehensive financial plan is tailored for your individual situation and may include the following:
Comprehensive Financial Plan Components
Schedule of financial objectives
Investment policy statement
Risk tolerance report
Asset allocation schedule
Stock option schedule
Income tax statement—with comparison to withholdings/estimated tax payments
Capital gain schedule
Cash flow statement
Retirement probability analyses
Education funding schedules
Estate tax projection
Insurance summary (current coverage of life, disability, casualty, etc.)
Capital needs analysis
Employer fringe benefits analysis
Financial Life Planning analysis
Financial plan review and recommendation by topic
Plan of Action: A summary of your recommendations (to be used during the implementation phase)
Once your plan has been prepared and presented to you, we remain under retainer for the balance of your planning year. There is never an additional charge to contact us (via phone, email or fax) with questions or concerns. We prefer to remain proactive in our role as your financial advisor to assist you whenever a need may arise.
As part of our service, we are happy to coordinate the implementation of your plan with third-party professionals. Premier has developed strategic alliances with other professionals, including expert attorneys and accountants, who share our desire to provide seamless, comprehensive planning solutions. Your existing financial professionals are also welcome to join us in helping you achieve your objectives. Rest assured that we receive no compensation for any referrals to outside professionals; nor will you be subject to hidden fees.
Financial Plan Updates
You are provided the option to renew our financial planning services each year. Upon renewal, your plan is updated to reflect your current situation and monitor the status of the attainment of your objectives.
Providing Wealth Management and Investment Solutions
Investment Advisory Services
We offer fee-only Investment Advisory services and utilize diversified portfolios that contain equity securities, fixed-income securities and a variety of cash management instruments. We vary this mix according to current investment conditions and customize the portfolio according to your individual risk tolerance, time horizon and specific goals.
As an investment advisory client, the first step will be to determine your risk tolerance and time horizon. A suitable asset allocation strategy will then be discussed and selected, and then detailed in your individualized written Investment Policy Statement.
Asset Allocation Service Components
Investment Policy Statement – An outline is created that describes your investment objectives, investment time frame, and risk tolerance. After analyzing your assets and liabilities, as well as cash flow requirements, this information is utilized to formulate an asset allocation strategy that will be monitored and adjusted based on changing economic climates and investor objectives. Your Investment Policy serves as a guideline towards the achievement of your goals. Careful attention is given to explain the returns and risks associated with various asset classes, and to ensure that all recommended investments are suitable for your portfolio.
Determine Asset Allocation – An asset allocation strategy is formulated that specifies the percentage of assets to be invested between equity and fixed-income securities, money market funds, and tangible assets. Equities are further diversified by company cap size and domestic versus foreign. Fixed income is further diversified by maturities and “quality” of paper (high quality or high yield).
Establish New Accounts – We will assist you to open accounts by preparing initial applications and transfer forms, as well as help coordinate the transfer of cash and securities to the new accounts.
Monthly Reporting – You will receive monthly reports detailing account activity and current holdings directly from your brokerage custodian. You will receive a comprehensive year-end 1099 detailing all reportable transactions for tax purposes.
Quarterly and Year-end Investment Performance Review – Premier will provide a quarterly and year-end personal investment review. Your review will detail the activity in your portfolio(s) and track your asset allocation, tax basis (in taxable accounts) and investment returns.
Fringe Benefits Consulting Services
Premier Financial Planning, Inc. is proud to provide fringe benefit consulting for the following services:
Employer retirement plans
Employer health benefit plans (medical, dental and vision)
Employer 125 flex plans
Employer group life and disability plans
Premier is happy to provide a complimentary analysis of your company’s present fringe benefits program and advise if alternative coverage is available to either improve benefits and/or reduce employer associated costs.
To provide the above services, Premier Financial Planning, Inc. has licensed trained professionals on staff.
Premier Financial Planning, Inc. is compensated for our services in the following manner:
Financial Planning Services:
We recognize that in the planning process, our clients expect both a rigorous analysis, as well as comprehensive services. Consequently, we believe that the most appropriate business arrangement consists of a predetermined fixed fee for planning services to be performed. The fee imposed depends upon the complexity of a client’s financial situation and services desired. This fee is payable ½ upon execution of the financial planning contract, with the balance due upon presentation of your financial plan. Under the fixed fee arrangement, we are under retainer and continue as your financial advisor for the balance of the planning contract year at no additional charge. At the end of your contract year, you have the option to renew our services by paying the annual renewal fee (which may be reduced from the initial annual planning fee). Should other financial planning arrangements be desired, consulting and other services may be negotiated at hourly rates of up to $200, depending upon your service provider.
Investment Advisory Services:
Fee-based discretionary investment accounts are available through Premier Financial Planning, Inc., a Registered Investment Advisor. If you utilize our services to implement investment advice, Premier shall charge an annual investment management fee based upon a percentage of the market value of the assets being managed, as follows:
Tier Fee Schedule
Fees Charged as a Percentage of Assets* (Client extended family household accounts may be aggregated to qualify for a lower fee)
Annual Fee Rate
Quarterly Fee Rate
The first $249,999
$ 250,000 to $ 749,999
$ 750,000 to $1,249,999
$1,250,000 to $2,999,999
Asset Values over $3,000,000
Please note that a minimum fee of $25.00 per quarter is imposed.
*Investment advisory fees are negotiable for certain client relationships and may be less for the following reasons:
Employer Retirement Plan Accounts: Investment advisory fees are negotiable and may be charged on a plan or participant level.
Employee Family Member: Family members of PFP Inc. employees may receive a flat fee rate.
Asset Allocation fees are charged quarterly. Fees are paid in advance on the 7th (or prior closest business day) of the month following the end of the quarter. The amount due is calculated by applying the prorated annual fee percentage to the previous quarter-end account value(s). Fees are further prorated for accounts opened after the beginning of a new quarter. Fees are paid directly from the investment account(s). If desired, account fees may be consolidated and paid from a specified account.
Fringe Benefits and Insurance Consulting Services: Premier’s associated persons are appointed with various independent insurance companies in order to offer quality insurance products for a competitive price. In the course of providing financial planning or fringe benefits consulting services, we may recommend that clients purchase products underwritten by insurance carriers. Please note that should an insurance product be placed, this will result in a commission being paid to the associated persons by the insurance company should a client purchase any of that company’s insurance products.
Further details on all of our compensation arrangements may be found in our ADV Part 2, available on this website for review.