New year, new business plan

For years I've had this business plan trapped in the back of my mind patiently awaiting the day I could let it free to roam. In fact, part of the savings account we've been living on since Dave lost his job was money I've been saving to some day open my own financial planning business.

The only reason I never did it sooner was that I hate working alone. I've always thought that every good planner needs a second set of eyes. Clients deserve a second opinion, a fresh perspective on their numbers, and I dreaded the day I'd have to start my own business ALONE without the benefit of someone else to bounce ideas off of.

So I pitched Jason my business plan.

And within two weeks of meeting him for the first time, we were business partners. Jason did all the dirty work by quitting his desk job two years ago and starting his own business. I'm just hopping onto his coat tails and helping him grow it. The more we get to know each other, the more we've realized that we're ideally suited to work together given we have the same ridiculously specific ideas about financial planning, investing and ethics.

Anyway, our plan is so simple it's almost stupid: to make high-end, sophisticated financial planning advice available to REGULAR HUMANS. The last firm I worked for had a $10,000 minimum annual fee, which meant our average client was a millionaire several times over. Don't get me wrong, it was an ideal place for me to hone my financial planning skills, but it always bothered me that we couldn't serve a broader client base and that the people who MOST needed financial planning were the least likely to be able to afford it or to seek it out in the first place.

But the truth is - you shouldn't have to be wealthy to get good advice. EVERYONE needs a financial planner.

So instead of charging commissions for financial products that our clients may or may not need (commissions = objectivity FAIL), we offer flat-fee services, so our clients know up front exactly how much our services will cost. We actually have a price MENU, so clients can pick and choose what they actually want, not just what we think they need. Our services are broken down into modules, so you don't have to buy a big scary financial plan, you can just get answers to specific questions, like this:

Cash Flow Planning Module:

What do your income and expenses look like?
How can you get and remain out of debt?
What should your budget look like?
How do you start one?
What tools should you use to manage your spending?
Are you making the best use of your resources?
Can you afford to ________?

Or this:

Investing - Current Snapshot:

What are your current investments?
What is your current asset allocation?
What are the underlying costs of your current investments?
What are the tax consequences?
What were you thinking?

I'm not sure if you can tell, but I'm RIDICULOUSLY excited about this. It's something I've always wanted to do and do well. So if you or anyone you know has any BURNING FINANCIAL QUESTIONS, our doors are officially open:

Pearl Wealth Financial Planning

We work online and by phone, so there's no need to be local. I thought I'd start off the year by offering anyone who mentions my blog a 10% discount on our services during the month of January.

Comments

[Laura]

I think this is wonderful! I would totally use your services, if I was in the market for that right now. Great things are happening! Congrats!

[Janssen]

Very very exciting! Good for you.

[Marmoset]

Congrats! Typo alert on about us page: throes not throws. Best wishes from a lurker.

[Alison]

Love how you worked re"kindle" into your bio! And I may just take you up on this January offer.

[Jen]

This is so exciting! I wish you lots of luck, and congrats on the big step!

[obabe]

much good luck. if you get a call from chicago soon, thatd be me. you guys look like just what my husband and i need!

[lolismum]

Good for you and good luck.

[Kerri Anne]

YAAAAY. Super rad, babe.

[Molly]

Looks great Amanda! I'm happy for you that you are back in the financial planning world & hope it's a success. I love your ideas about answering the questions, and giving us the questions that need to be asked.

[Amanda Mandajuice]

Thanks you guys! I forgot to mention that all you need to do to hire me is drop me an e-mail either at amanda@mandajuice.com or at amanda@pearlwealth.com.

[zeghsy]

i'm keeping you in my pocket for when i think i'm ready for this. hopefully i'll be ready soon. maybe?

[mj]

Fantastic idea- one of my retirement accounts offered me free financial counselling once I hit a certain number (which I then dropped below and have been working back up to), but it's not the same as having independent financial advice.