Fee-Based Financial Planning

Financial planning is a process, not a product. Just like you work with attorneys when you’re making legal decisions, CPAs when you’re preparing your taxes, and physician’s when you’re making medical decisions, the help of an expert when you’re dealing with financial matters can be similarly beneficial. Financial planning gives you the ability to get the input and expertise of trained professionals when making financial decisions for your family oftentimes on an ongoing basis.

How do you know if you could benefit from the services of a financial planner?

  • You may save time and benefit from working with a professional to plan and manage certain financial aspects of your life
  • You may want help getting started
  • You may benefit from an objective, third-party perspective on what are often emotional, difficult decisions
  • In today's hectic world, it can be beneficial to have a financial planning expert help to make sure you stay focused and follow through with your financial plans
  • You would benefit from an objective, written Financial Plan to provide direction for you to efficiently pursue your financial goal

Planning is valuable for everyone, not just those with particularly complicated and intricate financial situations. It is particularly effective for avoiding mistakes that can derail a family’s goals. While we often think about engaging in planning after something has happened, avoiding those pitfalls in the first place is particularly important.

Often a specific event or need will trigger the desire for professional financial planning guidance. These might include:

  • Developing a strategy to help your money last during retirement or rolling over a retirement plan
  • Handling the inheritance of a large sum of money or other unexpected financial windfall
  • Preparing financially for a marriage or divorce
  • Planning financially for the birth or adoption of a child
  • Facing a financial crisis such as a serious illness, layoff or natural disaster
  • Caring for aging parents or a disabled child
  • Coping financially with the death of a spouse or close family member
  • Funding education

The issues most families face can be complicated and confusing. Additionally, the products and options available can change frequently. Working with a professional helps you to stay on top of the changes and identify opportunities as they present themselves. A North Star Financial Planner will also work with other professionals, such as stockbrokers, accountants, and insurance agents, to coordinate their efforts with your overall financial needs*. It’s less for you to worry about but still covering all the possibilities.

A North Star Financial Planner will help you:

  • Set realistic financial and personal goals.
  • Develop a comprehensive plan to help you pursue your financial goals by addressing financial weaknesses and building on financial strengths.
  • Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments and estate plan*.
  • Develop strategies to put your plan into action and monitor its progress.
  • Stay on track to work towards goals, personal circumstances, stages of your life, products, markets and tax laws.
Separate from the financial plan and an advisors' role as financial planner, an advisor may recommend the purchase of specific investment or insurance products or accounts. These product recommendations are not part of the financial plan and clients are under no obligation to follow them.