Once we understand your mission and goals, we work with you on all facets of your financial life, including:
- Retirement Planning
- College Planning
- Business Planning
- Social Security & Pension Strategies
- Charitable Giving
- Tax Planning & Analysis
- Insurance Overview & Analysis (Home, Auto, Life, Disability, Long Term Care, Health, etc.)
- Estate Planning Overview & Analysis (Wills, Trusts, Powers of Attorney, etc.)
- Cash Flow Management
- Savings Strategies
- Debt Management
- Executive Benefits
- Stock Options & Restricted Stock
- & more!
We will also act as your financial “quarterback”, working with CPAs, estate attorneys, insurance brokers and other professionals to coordinate all aspects of your financial life. We are only compensated by our clients, and do not share or receive fees from other professionals, which allows us to be completely objective on your behalf.
Once we have plans and strategies in place to address each of your financial needs, we will work with you to implement your plan and monitor it over time. We know life is dynamic, and will help guide you through the changes in your personal life and the market as events unfold.
ALL Financial Planning services are included in our monthly Financial Planning Fee, described below.
Investment Guidance & Management
Some advisors get this backwards. They immediately jump into your investments before having a thorough and complete understanding of your values, goals, current situation and best path forward.
We want to know where you are and where you’re headed before we make investment recommendations. Investing is a vital part of your financial plan, but what you need depends on where you want to go and the journey you want to take.
Open Door’s investment process is based time tested formula that is grounded in both research and applied strategies. Our core investment principles are:
- Your personal circumstances are more important than whatever is going on in the market. Where you are and what you are trying to accomplish should dictate your investment approach, not the other way around.
- Keep costs down. This means taxes, investment fees and turnover/trading should all be kept as low as possible. There are very few things you can control in the world of investing: cost is one of them.
- Trust the process, not your gut. It is absolutely critical that you approach investing as a process, and not as an investor tossed in every direction by the daily up and down movement of stocks. The market is cruel to those that invest on whims and feelings rather than logic and proven processes.
Open Door offers two forms of investment services:
We think of this as our “everything but push the button” investment service. We are happy to review your 401ks, 529 plans, annuities and other investment accounts not directly managed by Open Door and provide specific, tangible recommendations on how to invest your accounts. We will consider your entire investment portfolio when making recommendations, and will give you the tickers and amounts to trade. We are even happy to jump on a zoom call and walk you through placing the trades. The only thing we don’t do is execute, or “push the button”.
Investment Guidance is included as part of our Financial Planning Fee. We offer this service so that clients who either cannot move accounts (401ks) or prefer to do the investing themselves (DIYers) can still receive professional advice.
Sometimes you’d rather someone else take care of it. Investing can be complicated and overwhelming, especially when the market becomes unstable. Our investment management service allows you to hand the keys over to handle the day to day decisions for the account. We will work with you to develop a strategy that meets your needs, setup the appropriate accounts, transfer funds, execute the initial trades, monitor the account and makes changes as needed, all while keeping you informed on our research and thoughts.
Investment Management is included as part of our Financial Planning Fee for the first $250,000 we manage for you. For amounts over $250,000, we charge a separate Investment Management Fee, described below.
Financial Planning Fee: $175 per month (includes investment management on the first $250,000)
The Financial Planning Fee includes the following services:
- Financial Planning, including all upfront and ongoing services.
- Investment Guidance on any accounts not managed by Open Door.
- Investment Management on the first $250,000 managed directly by Open Door at no additional cost (expressed as percentage of assets managed, our fee of $175 per month would be 0.84% on $250,000 managed).
- Unlimited access to our advisors via phone, email, text and zoom.
- Online access to Open Door’s financial planning and investment tracking tools.
Investment Management Fee: 0.5% annually (only on the amount over $250,000)
- The Investment Management Fee covers household accounts directly managed by Open Door in excess of $250,000.
- The fee applies only to the amount OVER $250,000, not to the first $250,000 (which is covered by our Financial Planning Fee).
Open Door does not require investment management as a condition for service. All fees are billed monthly, and there is no long term commitment.
Fees are subject to change.