All of our engagements begin with a free initial consultation. At this meeting, we get to know one another, discuss your goals and circumstances, the services we provide and whether or not our help is appropriate for you.
If our services seem a good match for your goals and situation, we discuss with you our standard retainer agreement.
A discussion of a financial advisory practice would not be complete without a disclosure of compensation. The fee structure at McClarren Financial Advisors, Inc. is designed to reduce conflicts of interest between our clients and ourselves. We charge an annual retainer fee for our services based on our clients' income, net worth and complexity. There are never any additional fees charged by our firm. Our clients know, up front, how much our services cost them and exactly what services they receive. By not charging commissions, we eliminate the conflict of interest of profiting financially from our recommendations. In addition, our clients know that our loyalty is to them and not to a brokerage firm.
Our annual retainer fees are as varied as the range of our clients' financial situations. Because each client situation is different, actual fees must be calculated on a per case basis. The cost of a Standard Retainer ranges from $3,000 to $26,000.
The Standard Retainer is the focus of our practice. It is with this retainer that our clients receive the full benefit of our services.
We meet with our clients four or five times during the course of the initial year, depending on the situation, to create and set in motion their financial plans. The areas covered include, but are not limited to:
- Tax Preparation
- Budgeting and Cash Flow
- Tax Planning
- Inventory of Client Assets
- Retirement Planning
- Portfolio Analysis
- Goal Setting
- Develop Asset Allocation Strategies
- Estate Planning Review
- Recommend Investments
- Small Business Planning
- Insurance Analysis
- Education Planning
- Analysis of Employee Benefits
Our Standard Retainer is an open-ended retainer. This means that our services are not limited only to scheduled appointments covering designated topics. Our clients are free to call any time to discuss with us any topics of concern which are within our scope of expertise. There will never be an added charge for calling or meeting with us.