Our Process
We use the time-tested and accepted planning & asset management process:
Our first meeting:
The first time we meet, let’s just talk and get to know each other a little. We’ll ask questions, look each other in the eye and ideally get enough answers that matter to us to come to a mutual decision to proceed to the working process.
Discovery
Prior to our 1st working meeting: gather all of your financial statements including bank accounts, investment accounts, retirement accounts, mortgage and debt information, business ownership and debt information; income & expense statements or information, life insurance and long-term care insurance statements. (If you provide your original financial statements they will be returned to you at our 2nd meeting.)
Planning Questionnaire for Your Use - Print Version (pdf)
Please bring the completed questionnaire to our 1st working meeting.
At our 1st working meeting: Be prepared to discuss your goals, your dreams, your timeframe, your concerns, your tolerance for risk, your investment experience and your priorities. Be prepared to disclose your current financial situation in more detail. (This step may require multiple meetings.)
After our 1st working meeting: Be prepared to gather and/or provide any additional information needed as determined in our 1st meeting.
Analysis
We’ll then open a planning case and spend time analyzing your goals, current situation, potential to achieve those goals and the risks to achieving your goals. This may take a few days, a few weeks or longer depending on the complexity of your situation.
Recommendations
Our 2nd (or next) meeting: Be prepared to review your total scenario(s) or your top priority goals at least, and to be presented with our recommendations as to overall strategy, account types and investment vehicles that match your situation, goals and ability to fund those goals. (This step may require multiple meetings.)
Implementation
You may approve recommendations for implementation right away or you may take time to thoughtfully consider our recommendations before approving them. Upon your approval be prepared to complete all account documents, beneficiary documents, transfer forms (if applicable) and make any deposits. We use LPL’s eSignature/DocuSign for most, if not all, account documents and forms. After all documents and forms are reviewed, signed and dated please allow a few weeks for transfers, etc. We will then have a 3rd (or next) meeting to review & confirm all approved account activity and set our first year’s meeting schedule as we start working together.
Note: This whole process may take a few weeks or it may take a year! We value long-term relationships with clients who are serious about addressing their important financial goals.
Review
In our first year working together, we will meet quarterly to review, fine-tune any specific situations and address additional planning/recommendation/ implementation matters – and continue to get to know each other better!
On an ongoing basis, at least annually, we will meet or talk to thoroughly review your plans, strategies, management, changes & updates in your life and goals (if any). This is very important as this review feeds back into our initial planning and strategies so we may update and continue wisely as needed – essentially going through the whole thing again in an accelerated manner.
Our Planning Fee Arrangement
We charge an hourly rate of $250 for initial planning with a minimum of four (4) hours charged. More complex planning situations may require considerable additional hours. The hours charged cover our internal time and expertise to analyze and create/complete your initial plan. We do not charge for meeting time with you!
You will sign a planning agreement & disclosure and pay 50% of the fee up front. After the planning is complete (discovery, analysis, recommendations) you will have the choice to…
a) make the decision to work with Meinert Wealth Management LLC to manage your investments - in which case the remaining 50% balance of the planning fee will be waived, you will take receipt of your planning report (deliverable) and we will proceed to implementation; or…
b) make the decision not to work with us, pay the remaining 50% balance of the planning fee and take receipt of your planning report (deliverable).
Going forward
As we work together going forward, after the initial planning (discovery, analysis, recommendations & implementation), you pay for annual planning reviews and any as-needed periodic planning in one of two ways, depending on your relationship with us…
a) If we manage your assets through an advisory relationship (fee-based fiduciary) - all of our services are included (planning, investment strategies and wealth management). This is an all-inclusive, fiduciary arrangement and provides the most value and flexibility for ongoing planning and reviews. This includes all situation-appropriate deliverables.
b) If we manage your assets in brokerage accounts (commission-based) - you pay the same hourly fee of $250 for an estimated number of hours to complete annual or periodic planning and review as needed. This includes all situation-appropriate deliverables. The minimum charge is one (1) hour.
We hope this makes our process very clear. Let’s make a plan!