New clients have the choice of four services: Basic Review, Portfolio Review, and the Full Review. Once clients have completed any one of these services, they may upgrade to a higher initial service or they may choose one of the on-going services. On-going services include hourly work, the Semi-Annual Review, and the Annual Review.
The Basic Review, the Basic Review Plus, the Retirement Review, and the MFP Review are fixed price services. The purpose of these services is twofold: first, they answer client's questions; second, because the cost of the service is known upfront, you know the final cost before you start the process.
* Clients may upgrade to the Portfolio Review if they feel they need additional advice or discussion at the conclusion of the Basic Review. Typically, clients choose the Portfolio Review for a complete portfolio reallocation.
We have tried to make the services we offer as user-friendly as possible. You do not have to decide on any level of service before we start the meeting. Most meetings start with the Basic Review and have the option to be upgraded to the Porfolio Review to receive a return report. Similarly, Milne Financial Planning offers on-going services to carry out the implementation of the recommendations.
On-Going Services are for clients who desire a continued relationship with Milne Financial Planning and have completed one of the new client services. This annually renewable service includes implementing changes as well as managing the portfolio. These services address investment management and applicable financial planning issues. Phone and email support is included. Analysis outside of the scheduled reviews is limited.
Milne Financial Planning Fees for on-going services are calculated by first determining a flat fee based on net worth and then adding a percentage (0.35%) of investable assets. The flat fee recognizes that there is a base level of planning, overhead, and analysis that is part of every client relationship. The increasing flat fee reflects that relationships with higher net worth clients generally involve addtional complexities and work. The intent of the investable assests portion of the fee is to be "all inclusive" to prevent decisions and recommendations from being compensation sensitive.
Milne Financial Planning offers two on-going services: the Semi-Annual Review (minimum fee $2,500) and the Annual Review (minimum fee $1,650). For on-going services, one quarter of the annual fee is billed every three months in advance.
Jamie Milne may conduct group educational workshops. Jamie may impose a fee for these or other educational workshops. Generally, the employer, civic or non-profit group sponsoring the workshop will pay any fees charged by Jamie. In the event there is a charge to workshop attendees, the fee will be published in the workshop announcement or invitation. The hourly rate for group employee presentations is $350.