Maine Independent Financial Planner Maine Fee-Only (CFP) Jeff Bogue

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 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.