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Many financial advisors use financial planning as a euphemism for investment planning. Comprehensive financial planning is so much more than just portfolio management. It encompasses estate planning, tax planning, asset registration and beneficiary designations, employee benefits, insurance risk management, debt management, social security benefits planning and much more.
At Financial Planning Hawaii, we approach financial planning as a treasure hunt. We gather our clients’ detailed financial information and documents into a secure online platform and then sift through it to find mistakes, oversights, and potential opportunities. With more than 30 years of experience, we know where to look and we are well-versed in the myriad rules which may be applied (or avoided) to help improve our clients’ financial lives. It is not uncommon for us to point out as many as 20 or 30 findings (financial planning "treasure") in a single planning review. It is this treasure hunt that fuels our passion, and our clients appreciate the value we provide beyond just wealth management.
The FPH Team
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ARE YOU ON TRACK TO MEET THESE COMMON PLANNING OBJECTIVES?
The applications below help address investors’ greatest fear – If things go badly in the markets will I still be okay?
Spending in Retirement
(Will your nest egg last?)
Saving for Retirement
(Will you have enough if returns are below average?
Saving for College
(Are you using the right 529 Plan Strategy?
Frequently Asked Questions
What planning topics does “Comprehensive Financial Planning” include?
The core elements of our comprehensive planning reviews include:
- Investment Portfolio Management
- Tax Planning & Optimization*
- Estate Planning*
- Insurance Risk Management
- Social Security Planning
- Employee Benefits Reviews
- IRA and Small Business Retirement Plans (401(k), Defined Benefit Plans, etc)
- Creditor Protection Considerations
- Asset Registration and Beneficiary Designation Reviews
- Retirement Savings and Retirement Spending Stress Testing
- Education Planning and Funding
* While no part of our review or findings should be construed as specific tax or legal advice, and important element of our review is to raise awareness of potential tax and legal risks and opportunities. We encourage clients to share these insights with their CPAs and/or attorneys are willing to facilitate those discussions upon request.
What is your financial planning process?
The generally accepted 7-step financial planning process is as follows:
Step 1: Learn the client’s background information and financial circumstances.
Step 2: Identify client’s specific financial planning goals and objectives.
Step 3: Analyze the data that has been gathered in relation to the goals and objectives
Step 4: Develop a written plan and recommendations
Step 5: Present the plan
Step 6: Implementation
Step 7: Ongoing monitoring
Our one-time fee-only planning reviews encompass steps 1-5. Clients may elect to engage us over time to cover steps 6 & 7 under a separate agreement if they choose. See also - Client Services.
Are there any unique services you offer?
Yes. While many financial planners present a document as a financial plan, in addition to our written summary, analysis, and recommendations, all FPH clients receive access to an online platform that enables them to centralize and organize all aspects of their financial lives. The platform is free for all asset-based clients. Access to the platform is free for 90-days for our fee-only clients and is available for $25/month thereafter.
Additionally, all clients have permanent access to our free proprietary password management software, Password Guru, and our own interactive retirement spending and retirement saving software. We also offer a unique service that helps clients expeditiously and inexpensively get their estate planning documents drafted and implemented.
For more details, visit our Client Services page.
Nest Egg Guru makes client facing software to help financial advisors engage with and educate clients and prospective clients. The company was co-founded by J.R. Robinson and is the sister company to Financial Planning Hawaii.