Effective January 1st, 2014
Dorn Financial offers modular financial planning services. That means that the scope of our work together can be as comprehensive or as narrow as you would like and you will only pay for the planning you want.
We are fee-only. Dorn Financial receives no referral fees or commissions from any third parties. Being fee-only allows us to focus exclusively on your best interest and provide objective recommendations to help you achieve your financial goals. It can often-times save you a lot of money too!
We are able to provide a flat-fee quote at the conclusion of the initial consultation most of the time. With the flat-fee quote, as long as we stay within the original scope of our project, you won’t be charged any incremental hourly fees. You are also free to call and ask questions on the issues addressed in the engagement for 30 days at no additional cost.
Occasionally, a flat-fee quote isn’t possible when the complexity of the project is undetermined. In these situations, we proceed with the project on an hourly basis providing frequent updates on status and time spent.
The hourly rate is $210 per hour. This rate is used both when determining a flat fee quote and when working on an hourly basis. A deposit and signed agreement is needed to start the engagement, and the remainder is due in the plan presentation meeting. We accept payment via check.
Examples of some initial engagements follow to give you an idea of the time required to complete typical financial planning projects. These projects can be completed individually or combined based on your needs. Combining all relevant issues into one engagement will always save you money because you benefit from the overlap in data gathering and analysis between projects. The time needed for your particular engagement may be more or less than the range given depending on complexity, so we encourage you to take advantage of the free 30-minute initial consultation to discuss how we might work together and obtain a quote.
Quarterly or annual reviews are how most of our clients keep their plan up to date after the initial engagement. These reviews are important to review your portfolios, get rebalancing recommendations, update your plan based on any life changes, and revise projections based on actual savings and investment performance. The fee for the quarterly or annual review is typically less than the initial engagement and can be discussed in advance when setting the appointment.
An in-depth plan that covers all of the major areas of your personal finances: investments, retirement planning, education planning, cash flow and budgeting, credit and debt management, insurance needs analysis, estate planning, and tax planning.
Typical Fee: $2,500 for a couple, $1,800 for an individual
An analysis of your current investment portfolio and recommendations.
Typical Fee: $900-$1,100
A two-hour advisor-directed meeting to review your personal finances and get recommendations on quick steps for short-term improvements and suggested areas for in-depth review. Includes a written summary report.
Typical Fee: $700-$900
A two-hour client-directed meeting on the topics of your choice. Includes a written summary report. Not designed for detailed investment recommendations or in-depth retirement planning.
Typical Fee: $650
A checkup for existing clients designed to bring your plan up to date, rebalance your portfolio, and address any new issues or questions.
Typical Fee: $800 for a couple, $700 for an individual
This document is for general reference and discussion purposes only. A signed and dated Advisory Agreement is the only official source of fee quotes and the only binding offer for service recognized by Dorn Financial. Actual fee estimates may differ due to specific client information. This document is not intended as a formal fee quote, is not a contractual agreement, and does not imply a commitment of any kind.