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)
- Fixed Fees (Other than subscription)
Retirement Planning Services Overview
Retirement Planning Services is a fee-only Registered Investment Advisory firm based in Knoxville, TN, offering investment advice only. The firm has been operational since 2021, providing personalized financial planning and portfolio management services to individuals and small businesses. As a fee-only advisor, Retirement Planning Services does not receive commissions or any form of compensation for recommending investments, ensuring that all advice is unbiased and in the best interest of clients. The firm's financial planning services are tailored to each client's specific needs and goals, covering areas such as retirement savings and income planning, tax planning, estate planning, insurance planning, and more. Retirement Planning Services takes a comprehensive approach to portfolio management, incorporating each client's unique risk tolerance and investment objectives to build a diversified portfolio that maximizes returns while minimizing risk. At Retirement Planning Services, clients can rest assured that their financial well-being is in good hands. The firm's team of experienced advisors is committed to helping clients achieve their financial goals, providing personalized guidance, ongoing education, and regular portfolio reviews to ensure that clients stay on track. For those seeking professional investment advice and support, Retirement Planning Services is an excellent choice.
RETIREMENT PLANNING SERVICES is a reputable firm that serves a wide range of clients. To cater to different needs, the firm designs customized retirement plans and manages assets for individuals, including high net worth individuals. Whether clients are retirees, professionals, or business owners, the experts at RETIREMENT PLANNING SERVICES strive to achieve their goals. They provide tailored solutions that meet the unique needs of each client, from investment selection to insurance coverage and asset protection. RETIREMENT PLANNING SERVICES offers flexible fee structures that align with the specific services they provide. For those who entrust their assets to the firm, they can choose to pay a percentage of the assets under management (AUM), meaning they only pay a fee when their portfolio grows. For others who need less hands-on management, they can pay a fixed fee for services such as financial planning and consulting. This fee structure ensures transparency and fairness, and each client fully understands what they are paying for. RETIREMENT PLANNING SERVICES's fee structures are a testament to their commitment to providing excellent services while being mindful of affordability.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for Retirement Planning Services does not mention any investment minimums.
How This Office Can Help Knox County, TN Residents
Retirement Planning Services offers comprehensive financial planning and wealth management services to clients in Knox County, TN. They understand that each client’s financial goals and needs are unique and they work closely with them to develop tailored strategies to help them achieve their retirement goals. The team at Retirement Planning Services provides guidance and advice on retirement savings, investment management, social security planning, estate planning, and tax planning. Knox County, TN residents may face a variety of financial challenges as they plan for retirement. Many may have little or no savings for retirement due to low earnings, a lack of access to employer-sponsored retirement plans, or unexpected expenses. Others may have limited information on how to optimize their social security benefits, manage their investments, or minimize their income taxes. Retirement Planning Services provides the expertise, resources, and support necessary for clients to overcome these obstacles and achieve financial security in retirement. With their guidance, Knox County residents can build a retirement plan that is personalized, effective, and sustainable for the long term.
Services Offered by Retirement Planning Services
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 Retirement Planning Services 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.
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
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.
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
- Mon 8:30 AM–4 PM
- Tue 8:30 AM–4 PM
- Wed 8:30 AM–4 PM
- Thu 8:30 AM–4 PM
- Fri 8:30 AM–4 PM
- Sat Closed
- Sun Closed
Other Office Locations
This firm has no other locations.
State Registrations
Retirement Planning Services is registered to service clients in the following states:
- Alabama
- North Carolina
- Tennessee
- Texas
Disciplinary History
Retirement Planning Services does not have any disclosures. Please visit it's Form ADV for more details.