Putting all the pieces together in a comprehensive financial plan.
Many of our wealth management clients choose to start with a financial plan. Why do a plan? Creating a comprehensive financial plan is the only way to stitch together your entire financial situation. Using your income, expenses, and other assets, we will analyze how you are tracking towards your (often competing) financial goals, and provide actionable solutions to help you get there.
Why combine financial planning with asset management? By integrating financial planning with investment management and ongoing advisory counsel, we aim to help give our clients the freedom and confidence to spend more time living life, not just planning for it.
In developing your comprehensive financial plan, we are able to monitor how changes to your current situation trickle down and impact other areas of your financial life, such as cash flows and your tax situation.
At Darrow, all of our financial plans are developed and reviewed by Caroline Coderre, CERTIFIED FINANCIAL PLANNER™ or Kristin McFarland, CERTIFIED FINANCIAL PLANNER™. We are also a fee-only registered investment advisor. This means that we do not sell any products or receive commissions; and we have a fiduciary duty to make recommendations that are only in the best interest of our clients.
Financial plans are customized based on your needs. Common topics for analysis may include:
- Retirement income planning projections
- Education and college planning including saving strategies with 529 plans
- Major purchase objectives (e.g. home purchase and financing options)
- Asset allocation and investment management
- Investment opportunities for excess cash, an inheritance, or windfall from a liquidity event
- Withdrawal strategies in retirement
- Stock options and equity compensation
- Income tax planning strategies and tax projections
- Disability and survivor income
- Social Security timing and maximization
- Long-term care
- Estate planning and trusts for legacy goals
- Business planning (e.g. starting a business, selling a company)
- Life insurance coverage
- What-if scenario analysis
Plans also include:
- Detailed recommendations based on the analysis
- Implementation support
- Cash flow projections
- Net worth projections
- Monte Carlo analysis of goal attainment
For Darrow Private Wealth Management clients, comprehensive financial models are created for a flat fee of $5,000.