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Financial Planning

Financial planning is a deep dive into your financial life. It involves everything from cash flow to taxes to insurance to estate planning and more. A financial plan can help you understand where you are financially today and the steps you can take to get where you want to be in the future.

Fee-Only

  • We charge for financial planning on an hourly basis. Our fees are transparent and you will know how much a plan will cost you before we get started.
  • We are paid for our time and expertise, not by insurance or mutual fund companies for selling their products. This provides our clients with transparency about what they are paying for financial advice.

 

Fiduciary

  • The fiduciary standard is the highest standard of care that someone in the financial industry can be held to.
  • We are legally obligated to always act in the best interest of our clients. The alternative is the “Suitability Standard”, which allows advisors to make a suitable recommendation for their clients even if it is not the cheapest or the very best option.

 

Custom Tailored

  • No cookie cutter financial plans here. Every plan we do is unique, because no two clients are exactly the same.
  • You can choose how much or how little we incorporate into the plan. This allows us to both focus on what’s most important to you and control the cost.
Hilton Head Financial Planner

Financial Planning Process

1. Establish and Define Client/Planner Relationship

We sit down and talk about what you are hoping to gain from this relationship and what you need from us. We will come to a mutual agreement on what will be included in the plan and how much it will cost.

2. Gather Data and Define Goals

In order to really get started on the financial plan we will need a lot of information from you. This is going to take a bit of work on your part, but the more detailed information we can gather from you the better your plan will be.

3. Analyzing and Evaluating the Clients Current Financial Status

We take the information that you gave us and figure out where you currently are financially. We look at how much income you have, how much you spend, assets, liabilities, insurance, estate plans, etc.

4. Developing and Presenting the Financial Plan Recommendations

Once we understand your current financial situation we can begin to make recommendations on how you should move forward in order to reach your goals. We will present you with actionable steps to take.

5. Implementing the Financial Planning Recommendations

Once you understand our recommendations you can decide if you would like implent the plan on your own ( a DIY approach) or if you would like additional help from us.

6. Monitor the Plan

A financial plan is a living document. In order to be successful plans require periodic updates, especially as your life changes. It is also important to track your progress toward your goals.

Who Needs Financial Planning?

Many people think that financial planning is only for the super wealthy, but this is not the case. A financial plan can help anyone who has a goal that is going to cost more money than they may have right now. It’s for those who can’t afford to make a mistake. It’s for those who want to spend their time doing what they are really good at. It’s for those who want validation from a professional that they are making the right decisions.

The most common questions we’re asked involve retirement planning- most clients want to know if they are on track to retire at their desired age and how much money they’ll need to retire. While we are well equipped to answer these questions, we can also help with so much more. From determining an appropriate savings rate for a child’s college expenses to helping you save for your first home purchase, chances are we’ve helped a client with the same issues before. Whatever your questions, issues, or concerns are, don’t hesitate to reach out to us!

South Carolina Financial Planning

CERTIFIED FINANCIAL PLANNER™

Pat Sokolowski, CFP® earned her designation in 2007 and has been practicing financial planning for 20 years. CERTIFIED FINANCIAL PLANNER™ professionals have to complete the 4 E’s in order to earn their CFP® designation. The 4 E’s are Education, Examination, Experience and Ethics.

Education: There are a total of 7 college level financial planning classes that must be completed covering topics such as Income Tax Planning, Estate Planning and Retirement Planning. A bachelors degree is also required.

Examination: The CFP® exam is a tough 6 hour exam covering 8 principal knowledge topics of financial planning and generally had a pass rate between 60-65%.

Experience: Candidates for CFP® certification must have 6,000 hours of financial planning experience.

Ethics: The CFP Board conducts a background check of each candidate to ensure CFP® certificants are held to a high ethical standard.

All CFP® professionals must complete 30 hours of continuing education every two years in order to maintain the certification.

Financial Planner Bluffton, SC

Ready to Get Started?

If you think a financial plan can help you achieve your goals, let’s get started! Schedule a complimentary initial meeting today. We will get to know you and figure out if we are the right fit for you, your money, and your goals.

We are located on Hilton Head Island, SC – a short drive for those in Bluffton, Beaufort and surrounding Lowcountry area, but we can also work virtually allowing us to serve anyone in the United States.

If you have any questions, contact us or you can skip straight to scheduling a meeting!