Your Wealth: Managed
Firma Financial Planning advisors are CFP® Professionals certified to help you pursue your dreams. That is our mission. That is why we are here.
Your Wealth: Managed
Firma Financial Planning advisors are CFP® Professionals certified to help you pursue your dreams. That is our mission. That is why we are here.
Why People Work With FFP
| Firma Financial Planning | RoboAdvisor | Traditional Advisors | |
|---|---|---|---|
| Dedicated CFP® Professional | |||
| Financial planners not incentivized to sell proprietary products | |||
| Fees based on services clients use | |||
| Easy access to advisors, including after business hour | |||
| 360° financial plans | |||
| Empowering tech platform to help pursue goals | |||
| Simplify financial planning process | |||
| Low cost investment portfolios | |||
| Customer service with someone you know, not a call center | |||
| Ability to work with your financial advisor from anywhere |
What We Do Best
With multiple financial advisors and years of experience, we have figured out what we do best so we can help you pursue your financial goals and dreams.
Dedicated Planner
Having someone who knows your plan and you can call to discuss changes, the status, or more.
Cost-Efficient Pricing
No hidden, extra, or fine print fees. Our cost-efficient pricing is charged regardless of the return on investment.
Fiduciary Guidance
FFP is here to help answer all of your questions and guide you through each step of the process.
Financial Hub
All of your financial documents, status reports, charts, and important information in one place.
Intuitive & Simple Plans
Finances don’t have to be complicated. Our step-by-step process helps break each step into understandable pieces.
Focused On Your Goals
Our goal is for you to reach your goals. Honestly! We are here for you. We can’t thrive unless you thrive.
Key Questions To Help You Find The Right Financial Planner
What is CFP® and why is it important?
CFP® stands for CERTIFIED FINANCIAL PLANNER™ and is an advanced designation in the financial planning industry. A CFP® professional is held to a higher fiduciary standard than an advisor without the designation.
What if I only need a little help with financial planning?
Our goal at Firma Financial Planning is to make new clients whenever we can. We understand that at this moment you may not have the ability to use the range of our services. That does not mean you would not benefit from building a plan, and it does not mean that we don’t want to work with you. We are glad to help where we can today to help get you started towards your goals.
How do you charge for your services?
The vast majority of our business is structured on a fee only arrangement between us and our clients. We don’t believe in the transactional sales arrangement that is typical in the industry. With the exception of very niche and specific instances, we don’t sell commissionable products. Generally, our fee is stated as a percentage of the assets we manage. Usually between 1.25% and .5% on an annualized basis, dependent upon the amount of assets we manage. Our focus on passive investing vehicles like ishares and ETF’s go toward improving the cost efficiency of the total portfolio.
How often do we meet and review?
All clients are different in how often they want to review their plan, and those needs may change as they get closer to retirement or other life events. We make a point to have one meeting annually on the calendar. However, we will meet as often as each individual client would like. There is no additional cost to talk, respond to emails, in person meetings, virtual meetings ect. This is your money. We are privileged to be your advisors.
Are you a fiduciary?
Yes, all of us are fiduciary advisors. We take pride in our client centric process and platform.
Am I going to be sold anything?
We don’t believe in transactional sales. We invest in the long term relationship with our clients. Our initiative is to first understand your goals, and help educate you on all of the ways you can solve for them. We want to help make you an educated consumer. This leads to your confidence in the plan long term and ultimately makes you more likely to achieve your goals.
Financial Planning
What is Financial Planning
Financial planning is the process by which you begin getting your financial house in order. This process should help organize your current situation, future goals, identify strengths and weaknesses and help bring into focus where you are today vs. where you want to be in the future. There are two primary phases of the financial journey. There is the “Accumulation Phase” and the “Distribution Phase” The accumulation phase is the period of time where an individual is growing their assets towards the required asset level necessary to account for their goals. The distribution phase is the period of time where the nest egg performs the intended task of the goal. Example: Funding a 401k plan is “accumulating”. Using the 401k in retirement for income is “distributing”.
There are many factors involved in optimizing these 2 phases. A successful financial plan should be an organized and executable plan, that has a strong foundation and optimized cash flow. The plan should balance the near term need for cash with long term investment. The plan should be flexible to future changes. A well rounded financial plan not only plans for everything going well, but also for what happens if things don’t go well. There should be protections in place in case of a negative life event.
Tax Planning
Tax planning is a very important component of both phases of a financial plan, the accumulation phase and the distribution phase. As you are building your assets, you need to keep balance between the need for near term liquidity and the benefits of long term tax advantage accounts. Developing a tax advantaged distribution plan can help stretch your asset farther and keep more on your balance sheet. Those strategies might include an income distribution plan, Roth Conversion strategies, Required Minimum Distributions Strategies, etc.
Our goal is to balance all of this while still maintaining your lifestyle. If your tax planning needs drift outside the scope of finance, we have a network of CPAs and Tax Attorneys that we could bring in as a subject matter expert.
Protection Strategies – Annuities, Life Insurance and Long Term Care
A Financial Plan is not complete without planning for what might negatively affect your plan. Insurance strategies are great for adding protection into a plan, but if overused could really hinder the effectiveness of the plan. It is important to really understand the pro’s and con’s of insurance strategies and its important to use them as a COMPLIMENT to your plan, not AS the plan.
The advisors at Firma Financial Planning are fiduciaries. We are not interested in selling you a product. We want to invest in the relationship between client and professional. About 90% of our firm’s revenue comes from the fee only planning arrangement on our managed money platform. A good Financial Planning professional should be able to apply strategic protection strategies where appropriate to enhance the plan, not as a one size fits all solution.
401k, 403b, Other Qualified Retirement Plan Help
Many people do the majority of their saving in the qualified plan offered by their employer. These plans are excellent and efficient savings vehicles, however they present some obstacles. First, they generally have limited investment options and not much guidance for how to allocate your assets. Second, because the assets must stay in the employer’s plan, most people think they cannot work with a Financial Planning professional.
This may be true for other firms, but Firma Financial Planning is glad to be a resource to you even if you are not yet able to open an account with us. We have software that we give to our clients that enables them to aggregate all of their assets regardless of where it’s held in an online portal. We can build your goals and you can track your progress over time from the comfort of your home computer.
Just because you can’t open an account with us today does not mean we don’t want you to be a client. It also does not mean you don’t deserve a well built financial plan and a relationship with a CERTIFIED FINANCIAL PLANNER™
Estate Planning
An Estate Plan is an essential part of a financial plan at any phase. A good estate plan helps preserve assets in the event of an untimely life event. There are different reasons for an estate plan, maybe it is simply to avoid Probate Court or maybe it is a more complicated divestment strategy. Either way, having a plan that is created and funded goes a long way toward preserving your plan.
At Firma Financial Planning, we have a network of attorneys that are glad to help you account for your Estate Plan. We are also glad to work with any professionals you may already have existing. Our goal is to make sure you are happy and confident with a plan that is properly created and funded.
What Will I Leave This Experience With
Primarily our hope is that you leave the experience feeling like a more knowledgeable consumer. In our experience, simply organizing our financial house and making an actionable plan leaves people less stressed about the present and less anxious about the future. You will also receive something tangible. Here are the 4 tools or reports you will walk away with:
1. Your Roadmap – The Asset Map report is the organized accounting of your current financial situation and your future goals. This is where your plan is built
2. Portfolio Analysis – A Kwanti Portfolio Analysis is a report we build to help you understand your current holdings, as well as compare to any changes we might propose
3. Virtual Portal – You will receive an E-Money profile free of charge. This is where you can aggregate all accounts, 401k’s, bank, credit cards ect. and track your progress whether its debt management, retirement planning, education planning ect.
4. Online account access – If you decide to open an account, you will receive all of the above as well as online account access available online or through an app. This is where you can get updates and see the progress of your accounts managed by Firma FInancial Planning
Our Process Involves
You In Every Step.
Firma Financial Planning doesn’t just keep our clients informed – you are part of the plan! We want you to be a partner in every step from gathering information to putting money back into your pocket.
After many clients and changes in the market, Firma Financial Planning has found the more involved a client is in their investment plan, the better the plan goes. We want you to be a partner, not a spectator.
Organize
Every plan has a start and every start needs to be organized.
Educate
The most important step is educating our clients.
Strategize
Creating a plan and making tweaks as the market changes.
Execute
Put the plan in to action! Action means a step towards your goals!
Reach Us
Address
17957 Hall Rd
Macomb, MI 48044
Hours
M-F 8am-5pm
Phone
586.263.3700
Schedule Online
Get In Touch
Areas served Sterling Heights, Clinton Twp, Fraser, Macomb, Mt Clemens, Roseville, Shelby, St Clair Shores, Utica, Warren, Washington, and other cities in the state of Michigan.
Securities, Financial Planning and Advisory Services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC.
The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: AL, CA, CO, IL, MD, MI, NM, NY, OH, PA, SC, VA