Pick our brain to see if you are interested in a financial planning engagement (see details below). Understand what it would entail, and what planning would look like for you. Limited to 20-25 minutes per informal session, and phone or Zoom only.
Note: May not be offered during peak tax season times (If Financial Planning Intro is not accessible on the Square calendar, it is not currently an option)
Financial planning can involve a number of planning areas, including:
A good financial plan is not only a summary of what currently is, but a projection of what could be given your goals and preference. The right approach is very personalized.
All planning work is conducted solely by firm owner Christina Sharkey (CPA EA)
What is financial planning like with you?
I do not hold any securities licenses or sell any financial products. So, I am paid for the planning itself. We focus on planning areas that are essential to your needs and wants, with goals to fit time horizons. I offer pricing structures based on the planning areas, targets, and volume of data to work with. Planning can be for just a few topic areas (such as estate planning or education planning), or it can hit nearly every possible financial topic.
This service produces a product (a written plan/ report), which highlights asset balances, objectives to meet, steps to take, risks and considerations, et al. Together, we discuss and address this plan.
What makes financial planning engagements different than having tax returns prepared and receiving tax and financial advice along with that?
Firstly, financial planning isn’t just a few tips – it’s a more comprehensive and extensive process that involves financial matters of many kinds. In short, financial planning is its own standalone service. You do not receive financial planning of any consequence by having your taxes prepared. Even tax planning isn't financial planning, as the latter is more holistic in its approach.
I have some tax questions or need some tax planning. Is this considered financial planning?
It depends. If you have a few tax matters that can be somewhat isolated from all financial matters, it may be considered just a "by the hour" tax issue. Other clients have tax concerns that permeate their entire financial situation.
Well-off business owner wants to choose a retirement plan for her business: Tax Planning/ Tax Advice
Well-off business owner wants to have an overall strategy to save taxes on retirement income and in death, while not sacrificing opportunities to build wealth: Likely moves into Financial Planning
How does it work?
After agreeing to enter a planning engagement, I will request that you enter basic asset, liability, income, and expense data into the planning software website. I give you the time you need, and I am available to answer questions during this process. We meet several times thereafter to refine data, update goals, and adjust suggested actions. Your plan is delivered within 10 to 15 weeks of the engagement signing. The time may be a few weeks' shorter or longer depending on various factors.
Throughout, the financial planning technology used provides an organizational benefit that can be key in keeping you engaged.
Who is your ideal planning client?
My ideal client is an individual (or couple) who values the service that is a financial plan, and is comfortable implementing that plan with the help of other professionals (or themselves) separately.
Some people feel best served by working with a financial planner that also invests and manages their money, which is essentially how most planners operate. In these cases, the financial plan itself is often less costly (maybe even free), as they receive commissions and fees from your assets themselves. Because I do not receive any money from your assets, I charge rates for the plans that are commensurate with the complexity of the planning engagement, and the education and experience I bring to it.
Just as I expect people to be selective and careful before working with any financial or tax professional, I am picky too. I work with clients that I believe will receive value from the service, and that will be communicative and engaged during the process.
Would I have to come to your office in Highland Park, NJ?
Definitely not. Planning doesn’t happen in an hour, and convenience and time-freedom are good for both sides. I am fine meeting planning clients in the office for that personal connection and to share paperwork, but that is not required. Video chat can fulfill that same objective.
The process can be entirely remote, though phone or video chats are mandatory supplements to emails to ensure efficient communication and being “on the same page”.
Which package is for me? (see PACKAGES below)
Before agreeing to work together on financial planning, we would have a consult or two on your planning needs, goals, and budget for the service. For example, clients without children may not want education planning. Young clients may not have an appetite for estate planning or long term care at this time in their life. Older clients may be risk adverse or have annuitized/ fixed income streams which limit some of their options. High net worth clients may be open to any possible planning areas.
The package for you is the one with you in mind.
Is there a retainer?
Yes. 50% of the package cost is due up front, and the remainder is due at the time the plan is delivered.
How long is the plan valid for?
Things change, so a financial plan may need to be updated every few years. A financial plan is based on your lifetime, but the structured engagement to present and discuss it spans about a year. Thereafter, monitoring and updating engagements can be entered into to retain the professional advisory relationship.
Engagements fall within one of 4 package types, and pricing is higher as you move from Basic to Premium.
Abbreviated plan focusing on a few topics. Best for those who are new to financial planning and/or want to start small.
Simple starter plan for those whose financial assets and/or life are experiencing some fast changes (i.e. marriage and family, rapid job promotions).
Classic financial planning for those who have a number of interest areas and are open to exploring different options.
Some planning clients have a lot of variety in their financial planning needs. This may come with considerable wealth and/or business interests, as an example. The Premium plan is essentially traditional financial planning for the complex client.
DISCLAIMERS: This web site may provide certain links or references to other sites that may be useful or of interest to you. Calico CPA LLC neither controls, endorses, promotes, nor has any affiliation with any other site unless expressly stated herein or on such site. Calico CPA LLC therefore has no responsibility for, and makes no representations with respect to, the content, accuracy, or any other aspect of the information contained on such linked sites or references. Calico CPA LLC will not be liable for any damages or injury arising from your access to such sites or content.
IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, Calico CPA LLC is informing you that any U.S. tax advice contained in the entries of my site or newsletter blog (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed here.
If you need professional tax advice and want to rely upon my expertise and opinion, contact me to work under a paid engagement. The information in the blogs or newsletters may change, and the postings are not constantly updated to reflect changes.
Copyright © 2023-2024 Calico CPA LLC - All Rights Reserved.
Powered by GoDaddy
Thanks for your interest in Calico CPA. We are currently (mostly) closed to new clients that we have not already spoken with. We can help you starting in late April/ May. Our new client intro option on our Square calendar will open up in late April.
If you are interested in working with us between February and April 2025, the best time to contact us is July and August 2024.