Financial planning is a multi-step process that provides you with two important things: (1) An in-depth review of your current financial situation, and (2) a plan that shows you how to achieve your goals and objectives for the future. At Snider & Talbot Financial Planning, the financial planning process consists of a series of related steps. It is important to remember that financial planning is an on-going process, not an event.
First, we focus on your goals, objectives, priorities and values. For instance, the reduction of current and future income taxes may be an immediate goal, funding a quality education for your children and/or grandchildren may be an intermediate goal, and enjoying a secure financial future in your retirement years is likely to be one of your most important long-term goals. Another great goal in life for some people is creating wealth and/or leaving a legacy for your chosen beneficiaries or charities. You may already be on the road to meeting these objectives and simply need a new strategy, professional insight, or to fine-tune your plan. You may just be starting out, or you may be somewhere in between.
Whatever your unique situation may be, everyone needs a periodic assessment of where they are on the road to meeting their financial goals. That’s why we do an in-depth review of your current financial situation first. Next, you need to know how you can go about achieving (or continue working toward) your financial goals. By focusing on cash flow, investments, taxes, pensions and retirement plans, estate planning, insurance issues, savings opportunities and other general financial matters, we design a customized financial plan for you. Finally, to achieve the intended results, you must implement and monitor your plan.
It may seem like that at first, but the good news is, if you follow your plan and maintain a disciplined approach, you can rest well knowing you can reach your stated goals. At Snider & Talbot Financial Planning, we try to make the process as easy as possible for you. In addition to receiving professional advice on your most important financial concerns, we can also assist with implementation and on-going asset management services, if that is appropriate for you and your needs.
Any individual seeking financial peace of mind can benefit from our services. We serve people at all income levels, from all walks of life. Clients have the flexibility to work with us on either a one-time, as-needed basis or an on-going basis. We welcome clients who simply need a one-time financial consultation or a second opinion, as well as those who need comprehensive financial planning and possible on-going asset management services. In addition, any company or organization seeking quality, unbiased financial education for their employees or members can benefit from our tailored financial education programs.
Because we are Fee-Only financial planners, conflicts of interest regarding compensation are dramtically reduced. We do not accept sales commissions; we work solely for our clients. Because we do not sell financial products such as investments and insurance, there are no third-party relationships or outside influences to color our thinking and financial recommendations.
In addition, our firm is a Registered Investment Advisor (RIA). As such, we must comply with a host of regulations designed to protect the consumer. One important question you should always ask when considering a financial planner’s services: ”May I please have a copy of your ADV Part II?” This document contains important information about the planner’s qualifications, fiduciary duties, history of any past violations, etc. Our ADV Part II can be accessed through the Legal Stuff page of our website.
While we do not sell financial products, we will offer specific recommendations and opinions regarding the various financial products that may be appropriate for you. So, if you need to obtain an insurance policy or a new mortgage, invest into a portfolio of mutual funds, or find an estate planning attorney or tax professional, we can direct you to the resources you need and/or help you obtain these products and services. If appropriate, we can also help you implement your plan and set up your accounts.
A CFP® is a Certified Financial Planner™. This is a person who has met the rigorous requirements of the CFP® Board. These requirements include: 1) education in the fields of financial planning, investments, tax, retirement, insurance, and estate planning; 2) the passing of a comprehensive examination which covers these educational components; 3) at least three years of professional financial planning experience; and 4) an ethics component, which again includes education and an examination. Once these requirements have been met, an individual may become a CFP®.
A Certified Financial Planner™ is required to act as a fiduciary, which means that the client’s best interests are the only consideration of the CFP®. This is entirely consistent with the Snider & Talbot philosophy. And by virtue of the breadth of the education, training and experience required to become a CFP®, a client has a better chance that all areas of his or her financial plan will receive consideration.
Yes. Some firms have income levels and/or net worth minimums but, at Snider & Talbot Financial Planning, we realize that everyone has financial needs. We are happy to work with people from all income levels, and all walks of life. Remember, ”You don’t have to have a fortune to start building one.” Call us today and let’s get started.
Yes. People who need more sophisticated financial planning or advice will find our services appealing and beneficial. If you have a desire to simplify your financial affairs, we can help you accomplish that as well. If you are looking for a professional review or a second opinion to ensure you are on track, we can provide that, too. And if you are looking for a more comprehensive on-going asset management service, we can help with that too.
We provide advice for all types of securities, including mutual funds, stocks (as they relate to your portfolio holdings), bonds, bank deposits, variable and fixed annuities. We also provide advice on mortgages, budgeting and cash flow issues, 401(k), 403(b) and other retirement programs, stock options, life and disability insurance, etc. If it has to do with money and finances, we can provide counseling, guidance and/or resources for you.
Clients are encouraged to call us when they have a major life event, such as a new job, a baby, a marriage or divorce, a death in the family, or if they are planning to buy a new home or start their own business. We also encourage our clients to call us with more common everyday questions, such as: ”How should I invest within my 401(k) or 403(b) plan?”, ”How can I reduce my taxes?”, or ”What advice can you offer on refinancing my home?”.
Absolutely not. We will offer recommendations which, in our professional opinion, will meet your needs and objectives, but you are under no obligation to follow them, in part or in total. In today’s competitive market, it makes sense to shop around for the best available service and advice. For instance, if you need to obtain a life insurance or disability policy, we will suggest the kind of policy and which riders and what amounts may be best for you. We will then direct you to a choice of companies and providers that can provide a quality product at competitive prices for you. If you wish, we can help you purchase investments and/or set up your accounts with a third-party custodian such as Scottrade, our primary custodian.
The appropriate allocation of investment assets for your goals and risk tolerance is the most important component in developing an investment portfolio. We believe that by having a diversified, well-balanced portfolio, following long-term buy-and-hold strategies, and using a disciplined approach to re-balancing we can help increase the likelihood that you will achieve your long-term financial objectives.
Before we recommend any investment, we consider the current economic conditions, the outlook for that asset class or type of security and how this investment fits within your portfolio given your objectives and tolerance for risk. For equity investments, we focus primarily on the philosophies, experience and track record of the management team. With fixed income investments, we look for the best yield available for a given quality of security. As fiduciaries for our clients, we strive to obtain the most appropriate investment vehicles to meet your objectives, while being very conscious of total expenses and risk exposure.
For ad hoc or “project” work, fees are based on the actual time involved in meeting with you in person or over the phone, researching and analyzing your current situation, and providing specific recommendations and implementation assistance if appropriate. For full financial/retirement plan work, we quote a set fee amount upfront so that you will know what that plan will cost before you commit to doing it. For on-going asset management work, the fees are based on the amount of assets that we actively manage.
Financial planning fees are determined on a project basis; the total fee for a financial plan will vary from client to client based on the specific needs and complexity of your situation. A quote is provided either at or after the Get-Acquainted meeting, when your personal needs are fully identified. Once your financial plan is complete, there are two basic levels of client/advisor relationships. The first has the client primarily being responsible for the implementation of the plan and needed follow-up. The second has that primary responsibility belonging to Snider & Talbot Financial Planning. Additional fees can be involved in the second case.
Yes. Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the Miscellaneous section of Schedule A. It is subject to a 2% floor of the adjusted gross income on a personal tax return.
Depending on your needs and desires, the actual engagement of services may end but the majority of our clients choose to continue their relationship with Snider & Talbot Financial Planning in one of a number of ways. Because financial planning is a process and not an event, we offer on-going services, periodic reviews, and day-to-day consultation as requested and/or needed.
The first step is an initial inquiry from you. There is a simple input screen on the Contact page of the website that you may use to send a direct message to us.
Or you can call Richard at 816.305.3456 or Jerry at 816.223.4149.
You may also email us at STFPClientContact@gmail.com
We offer an initial no-cost, no-obligation Get-Acquainted meeting, either on the phone or in our office. For Get-Acquainted meetings, appointments are scheduled based on availability. Expanded office hours are available to accommodate special needs or emergency situations.
Should you decide to engage our services, we can discuss which of our services are appropriate for you. Most clients find the financial planning process to be stimulating and enlightening. The end result, of course, is greater peace of mind for you.