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Financial Planning Services


> Your Financial Plan
> Estate Planning
> Financial Planning Process
> Fees

Financial Planning Services

Smith and Raab CPA Financial Planners P.C. is qualified to address your entire financial landscape. We develop a comprehensive plan to help you build and maintain wealth and achieve your personal financial goals. More often, we work with our clients to develop a plan that addresses a specific interest or need: retirement, estate, education, cash flow, investments, risk management, or income planning.

Smith and Raab CPAs have earned the designation of Personal Financial Specialist (PFS) by the American Institute of Certified Public Accountants (AIPCA). PFS certification requires the greatest depth and breadth of knowledge of the instruments and approaches to building, keeping, and distributing wealth of all financial planning professional designations.

We remain current on tax and other financial disciplines critical to developing your plan and keeping it relevant. Our skills include an ability to render complex and technical issues understandable, so you know your options before you make planning decisions.


Your Financial Plan

There are no ready-made formulas for financial success. So we offer no ready-made solutions. We gather extensive information on your financial status, your spending patterns, your earnings potential, and your many and varied plans for the future. We compare your appetite for risk with your requirement for return. Then we examine relevant approaches and options to create a plan uniquely yours, your pathway to financial fulfillment. And should you choose, we monitor your progress, making adjustments over time to ensure you remain on course. So your decisions, your strategies, and your plan take you where you want to be.

Issues key to developing your personal financial plan include:

• What is your cost of living?

• What do you need to live comfortably without working?

• Which of your assets will generate income?

• How can you add to your net worth before retiring?

• What kind of impact will changes in living conditions, taxes, your health, etc., have on your ongoing expenses?

• How long do you expect to live?

• What kind of return on your investments do you need to achieve and retain your independence?

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Smith and Raab CPA Financial Planners P.C. applies a blend of expertise, care, and objectivity to the development of an estate plan that will ensure your assets are distributed according to your wishes. An effective estate plan maximizes cash flow from your assets during your life as well as securing their most advantageus distribution after your death. 

Issues key to developing an effective estate plan include:

• Is your estate taxable?

• Do you have sufficient liquid assets to cover costs?

• Will one of the many types of trusts be useful in distributing assets to heirs and charities?

• Have you arranged for each spouse to pass along the maximum tax-free amount allowed by law?

• Does the plan consider gifts or inheritances?

• Should you employ delayed payment schedules for taxes on small business assets?

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Financial Planning Process

As a client of Smith and Raab CPA Financial Planners, you benefit from the following process:

- You complete a questionnaire designed to help you gather information that will impact your plan.

- Your Smith and Raab CPA financial planner conducts an in-depth interview with you and your spouse to discuss your goals and resources. We answer at least three primary questions in this initial conference:

  • Can we help you?
  • If so, how?
  • What will it cost?

- If we cannot help, there is no charge for the initial conference.

- If you hire us, we produce and send you a “discussion draft” consisting of narrative and supporting tables, which:

  • Indicates your ability to meet your goals with your current resources, or
  • Shows alternative solutions if your resources are inadequate.
  • Tests for sensitivity to anticipated or random events, like inflation, changes in interest rates, stock market swings, etc.

- You review the draft in advance of a second conference with your Smith and Raab CPA financial planner.

- Following the second meeting, we issue a report which contains your financial plan.

- If you should choose, we follow up from time to time to ensure your plan continues to meet your needs.

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Financial Planning Fees

We are an objective and independent source for financial planning. We are fee-only financial planners. We do not manage clients’ money. To assure our clients of unbiased advice, we do not sell investments or any type of financial products. And while we recommend other professionals, such as brokers, attorneys and insurance providers to our clients, we do not accept commissions from those individuals nor pay fees to professionals who recommend us to their clients.

Our fees are based on our hourly rates. Charges for retirement, estate and other financial plans generally range from $2,500 to $10,000, most typically between about $3,000 and $4,500.