Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Financial Planning Services, Inc. Overview
Financial Planning Services, Inc is an investment advisory firm based in Charlotte, NC. Established in 2020, the firm has quickly made a name for itself in the industry for its fee-only arrangement. As a result, clients can trust that the firm's recommendations are unbiased and not influenced by commissions or hidden fees. As an investment advice-only firm, Financial Planning Services offers a range of services to its clients. These services include financial planning and portfolio management for individuals and small businesses. Whether a client needs help with retirement planning, college savings, or asset allocation, Financial Planning Services has the expertise to help them achieve their goals. At Financial Planning Services, the team of advisors work diligently with clients to clearly define their financial objectives. Once defined, the team develops a personalized investment strategy that aligns with these objectives and is tailored to each client's unique risk tolerance. The result is a financial plan that maximizes clients' investment returns while minimizing their exposure to risk. Overall, Financial Planning Services, Inc is an investment advisory firm that puts clients' interests first. Whether you are an individual or a small business, the team at Financial Planning Services has the expertise to help you achieve your financial goals. With a commitment to transparency and a fee-only arrangement, clients can trust that the firm's recommendations are always in their best interest.
Financial Planning Services, Inc. caters to a wide range of clients, serving both individuals and high net worth individuals alike. They offer a variety of fee structures depending on the service provided, ensuring clients receive the financial planning assistance they need at a price that fits their budget. Whether managing an investment portfolio or providing comprehensive financial planning services, Financial Planning Services, Inc. is dedicated to helping clients achieve their financial goals. When it comes to fee structures, Financial Planning Services, Inc. offers several options. For those with a larger investment portfolio, the firm offers a percentage of AUM fee structure, which means the fee is calculated as a percentage of the assets under management. This structure provides an incentive for the firm to provide better returns and helps ensure that clients' investments are aligned with their goals. For services that aren't tied to investments, such as tax planning, the firm offers hourly rates to ensure clients only pay for the time spent on their specific needs. For comprehensive financial planning, the firm offers fixed fees, which provides clients with transparency and predictability in their costs. Regardless of the fee structure chosen, Financial Planning Services, Inc. is committed to helping clients make informed financial decisions that meet their unique needs.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure note for Financial Planning Services, Inc. states that they do not require a minimum dollar amount to open or maintain an advisory account. However, they reserve the right to terminate an account if it falls below their minimum size. The brochure does not provide an exact amount for their investment minimum.
How This Office Can Help Fort Wayne, IN Residents
Financial Planning Services is a company that assists clients in Fort Wayne, IN in various financial situations. With a team of professional financial advisors, they offer personalized financial planning services to help individuals and families achieve their financial goals. The company provides comprehensive financial planning, investment management, retirement planning, and estate planning services to help clients build and protect their wealth. Many people in Fort Wayne, IN may face financial challenges such as managing debt and expenses, saving for retirement, and planning for the future. Additionally, others may need assistance in managing their investments to ensure they are aligned with their financial goals. Financial Planning Services can help clients navigate these challenges and develop a customized plan that meets their unique needs. By working with a financial advisor, residents of Fort Wayne, IN can confidently manage their finances and secure their financial future.
Services Offered by Financial Planning Services, Inc.
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Financial Planning Services, Inc. most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Financial Planning Services, Inc. is registered to service clients in the following states:
- California
- Florida
- North Carolina
Disciplinary History
Financial Planning Services, Inc. does not have any disclosures. Please visit it's Form ADV for more details.