The cost of financial planning

So, you’re a HENRY, you’re making some decent cash, and the last thing you need is to be turned away from getting financial advice just because you haven’t hit that elusive 7-figure, or you don’t have a half-mil portfolio. Some get turned away, others only get advice because the advisor is their parent’s advisor. For others, the upfront fee is a tough pill to school when you’re swimming in grad school student loans. It’s the struggle most young professionals face when they want to talk money matters with a financial advisor. ?As a result, they’re left to decode this financial puzzle alone, dealing with two major problems:

They didn’t teach this stuff in school.

The internet is flooded with information, but finding credible sources tailored to you? That’s a whole other ball game.

What is a financial plan?

It’s like the game plan for your money. It’s not just a vague “Save X amount for Y years, and voila, retire at 65” deal. A solid financial plan should cover all the bases, giving you tailored strategies for your short, mid, and long-term goals, including that retirement endgame.

A top-notch plan should answer questions you didn’t even know you had.

And here’s the MVP of financial planners – the fiduciary. They’re in it for you and you alone. No secret plays for personal gain, no withholding of options that could benefit them directly. It’s all about maximizing your money game – from optimizing investments to smashing debt and, in our playbook at ARC Wealth, even hacking the credit game with credit cards and reward points.

There are both quantitative and qualitative benefits to working with an advisor.

Is a financial plan worth it?

It’s like trying to road trip cross-country without Google Maps. Sure, you might get there eventually, but how many detours are you willing to take? Trying to make the right money moves without a plan is a gamble, and who knows what important pit stops you’ll miss along the way.

The question isn’t whether you can afford a plan; it’s whether you can afford not to have one.

How important are your goals to you?

What is the cost of financial planning?

Talking numbers, Vanguard says a well-managed advisor can tack on an extra 3% to your returns. Russell Investments pushes it higher to 5.12%. But it’s more than just the digits. It’s about confidence, precision, and clarity in your financial game. It’s knowing how to send your kid to college debt-free, fund an entire vacation with credit card points, saving big bucks through savvy refinancing, and taking advantage of various strategies and government programs to boost your bottom line.

What should a financial plan cost?

Now, the cost of this financial playbook. The average price tag? Up to $3,500 for a retirement plan alone. No mention of that dream vacation or setting up a college fund for the kids. What if your retirement plan isn’t the standard “throw in the towel” scenario? Maybe you want to continue working in some capacity, while coaching your grandkid’s traveling baseball team. ?No one seems to have a game plan for that.

Our take? A financial playbook shouldn’t set you back at all. Some advisory firms charge an upfront fee for a one-time plan. What happens next? What happens 18 months later when you’re getting married and need a plan overhaul? Another $3,500 fee? Maybe it’s $1750 for returning customers. We’re charging $0 for plans and have some of the lowest advisory fees in the business. Have a one-off question? No charge. Plan update? No charge. For full transparency, here’s how we make money (in short, the more money you make, the more money we make)

Book a call so you can get a feel for how we do things around here.