Bogue Asset Management’s Quarterly Investment Letter is available for review, My commentary examines the economic "tug of war" being reflected in the stock market, with improving economic and company fundamentals on the one side, and concerns about debt-related stress points and the longer-term strength of the economic recovery on the other. [See More]
Bernie Madoff’s clients didn't see his Ponzi scheme coming. Could they have? Let's look at four safety tips that would have prevented this from happening and the safeguards that Bogue Asset Management LLC provides in its client relationships: [See More]
How your advisor is compensated does matter. Lately there has been a blurring of the lines with the use of the term “Fee-Based” to describe how one is compensated. I’ll tell you why Fee-Based is not Fee-Only and the difference can be substantial: [See More]
Shopping around for a financial planner? When you are in the process of looking for a financial planner, you should have a consistent interview process to determine which planner is the best for your needs. These are the seven questions that I suggest that you should ask: [See More]
Financial Planning
Financial planning is the process of determining how an individual can meet life goals through the proper management of their financial resources.
Services are intended to be flexible in nature as this process can be on an ongoing, project or hourly “as needed” basis and the scope of the engagement can focus on only one segment of your financial life (e.g. retirement planning) or cover multiple aspects of your financial life in an integrated manner. The scope of the engagement depends on what the client needs and values at the time of the engagement.
The financial planning process includes:
- Establishing and defining the scope of the client-planner relationship,
- Defining and prioritizing the clients goals and objectives,
- Gathering client data
- Analyzing and evaluating the client’s current financial status,
- Developing and presenting recommendations and/or alternatives,
- Implementing the recommendations, and
- Monitoring the recommendations if the scope of the relationship is ongoing
The scope of the financial planning engagement can include, but is not limited to the following aspects of financial planning:
- Cash flow analysis and budgeting
- Debt management
- Risk management and insurance strategy
- Income tax strategy
- Investment planning (portfolio design and asset allocation)*
- Education planning
- Retirement planning
- Employee benefits optimization
- Small business planning
- Estate planning
Bogue Asset Management specializes in two fields: Retirement Planning Services, Mid-Life Financial Planning Services along with Investment Management Services
The fee for financial planning services is based on Bogue Asset Management’s hourly rate of $150 per hour and depends on the scope and complexity of the situation. Usually fees for ongoing engagements decrease after the first year since most information on the person’s financial life is known and only needs updating. A proposal outlining the fee for the engagement will always be provided before the engagement begins.