Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Other
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)
Retirement Planning Solutions, LLC Overview
RETIREMENT PLANNING SOLUTIONS, LLC is a fee-only registered investment advisory firm that operates out of its headquarters in Louisville, Kentucky. Since its founding in 2020, the firm has specialized in providing investment advice only to its clients. Their objective is to help clients achieve their financial goals and ensure a secure future for their retirement. The firm offers a range of services that include financial planning and portfolio management for both individuals and small businesses. Their approach is customized to meet the unique needs and goals of each client, taking into account their financial situation, risk tolerance, investment goals, and time horizon. In addition to investment advice and portfolio management, the firm also provides other financial consulting services that do not result in a formal financial plan. These services are designed to help clients make informed financial decisions and navigate complex financial situations. The team at RETIREMENT PLANNING SOLUTIONS, LLC is committed to providing personalized and attentive service to each of their clients, helping them achieve their financial goals and plan for a secure retirement.
RETIREMENT PLANNING SOLUTIONS, LLC is a financial advisory firm that caters to a diverse range of clients. Their client base encompasses both individuals and high net worth individuals seeking sound financial advice to help plan their retirement. The firm understands that each client has unique financial goals and needs and, therefore, provides a comprehensive range of services tailored to their clients' specific needs. RETIREMENT PLANNING SOLUTIONS, LLC provides various fee structures to its clients, depending on the service provided. For instance, clients who opt for the percentage of AUM fee structure have to pay a percentage of their assets under management to the firm as compensation. Likewise, the hourly fee structure tends to be more suitable for clients seeking occasional advice or seeking to address a particular short-term need. The firm offers fixed fees to clients who need a comprehensive retirement planning solution, ensuring no ambiguity regarding the cost of services. RETIREMENT PLANNING SOLUTIONS, LLC ensures transparency in fee structures, helping clients make informed decisions.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for Retirement Planning Solutions, LLC does not mention anything about investment minimums. Therefore, it is unclear what the minimum investment required by the firm is.
How This Office Can Help San Diego County, CA Residents
Retirement Planning Solutions, based in San Diego County, CA, offers comprehensive retirement planning services to help clients navigate their financial future. Whether you are just starting to save for retirement or are nearing retirement age, Retirement Planning Solutions can help you create a customized plan tailored to your unique financial situation. San Diego County residents face a variety of financial challenges that can impact their retirement planning, including the high cost of living, rising healthcare costs, and the substantial cost of caring for aging parents or other family members. Retirement Planning Solutions can provide guidance on managing these financial pressures while also creating a strategy that can help ensure your retirement goals are met. With a focus on wealth management, tax planning, and estate planning, Retirement Planning Solutions is dedicated to providing individuals and families with the tools and expertise needed for a secure and financially stable retirement.
Services Offered by Retirement Planning Solutions, LLC
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 Solutions, LLC 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
Retirement Planning Solutions, LLC is registered to service clients in the following states:
- Connecticut
- Florida
- Illinois
- Indiana
- Kentucky
- Louisiana
- Ohio
- Tennessee
- Texas
Disciplinary History
Retirement Planning Solutions, LLC does not have any disclosures. Please visit it's Form ADV for more details.