Who is the Wealthbuilder service for?
Most Wealthbuilder clients are high-earning professionals, business owners, or near retirement. They don’t yet meet the asset minimums for Wealth Management, but seek ongoing, proactive planning and advice as they seek to quickly reach financial independence.
There is no asset minimum for the Wealthbuilder service. However, it is meant as a temporary solution, with clients moving to Wealth Management within 5-10 years.
How will we work together?
- Introduction – Our first meeting is all about discovering what your life dreams are, and how your finances can help you live the life you want to live. We will figure out where you today and how Switchpoint may be able to help you achieve your goals.
- Data Gather – Once we get an overall view of your situation, we will gather all of your account statements, tax forms, estate documents, etc. and develop a comprehensive view of your situation. We will analyze this information to develop a personal financial plan.
- Plan Delivery – A few weeks later we will meet again to go over your custom financial plan. In the plan we will outline strengths and weaknesses in your current situation and provide specific action steps to take. Your plan may include the following topics, depending on your needs:
- Investment Strategy
- Net Worth Statement
- Cash Flow Analysis
- Retirement Plan
- Debt Payoff Plan
- Employee Benefits Review
- Insurance Analysis
- Tax Strategies
- College Savings
- Implementation – A financial plan is only as good as the effort made to implement it. We will help implement many of the action items, including obtaining additional insurance and opening investment accounts as needed. We will also provide accountability on the items you must implement, like executing your debt payoff plan.
- Ongoing Support – After initial implementation we will check in at least quarterly to see how you are progressing and to answer any questions you may have. We are also available any time you have a question or need support. In addition, we will continually monitor your investment accounts and ensure they are in line with your objectives.
- Regular Updates – As your life inevitably evolves, we will help you adjust your plan to meet your needs. We will meet at least annually to do a complete review of your plan and progress.
What does the program cost?
As fee-only fiduciaries, Switchpoint doesn’t receive any kick-backs or commissions for selling you products. We believe that this provides two huge benefits to our clients:
- Unbiased advice – by sitting on the same side of the table as you, we can give the best advice possible for your situation, rather than pushing a product.
- Lower overall costs – Since we don’t receive commissions, we are able to implement your plan with lower-cost investment and insurance vehicles usually available only to large institutions, which we believe will result in lower overall costs for you over time.
Initial Plan Development and Implementation – $1,000
Ongoing Support – $2,400 per year