At Kane Financial Planning, we want our clients to gain control over their future by helping them organize their financial goals and commit to them, through ongoing guidance, education and partnership.
Patti has worked with a wide variety of clients, including people with complex financial situations: corporate executives, physicians, business owners, and people in transition (retirement, job loss, marriage, divorce, loss of spouse). Her passion is to help people from all walks of life achieve financial security. The Firm adheres to the fiduciary standards required of Registered Investment Advisors:
We are happy to work with clients in person at our Avon, CT office, via the Internet, and over the phone—whatever is most convenient for our clients.
It is likely you can benefit from our professional financial planning services if any of the following describes you:
Our specialty: We have a special interest in empowering women, who often have unique financial needs and issues, to achieve financial independence. We specialize in working with corporate women executives, women in transition (retirement, divorced, widowed), and women business owners.
In order to help you create a holistic plan aimed at achieving financial security, we will guide you through our planning process consisting of the following steps:
We provide clients with guidance on key financial topics such as cash flow and budgeting, funding a college education, retirement planning, risk management, estate or tax planning, among others. We can provide ongoing supervision of clients’ portfolios through our portfolio management services offering. We also offer educational workshops covering a broad range of financial planning and investing topics.
Cash Flow Analysis and Debt Management
We conduct a review of your income and expenses to determine your current surplus or deficit. Based on the results, we provide guidance on prioritizing how any surplus should be used or how to reduce expenses if your financial situation is a deficit. In addition, we can help you prioritize debt payments, based up such factors as the debt’s interest rate and any income tax ramifications.
We help you analyze your exposure to major risks that could have a significant adverse impact on your financial picture, such as premature death, disability, property and casualty losses, and the need for long-term-care planning. We can offer guidance on ways to minimize such risks, as well as on weighing the costs and benefits of purchasing insurance and the potential cost of not purchasing insurance (“self-insuring”).
We help you determine whether you, as an employee, are taking maximum advantage of your employee benefits. We will also offer insight on your employer-sponsored retirement plan and/or stock benefits, along with other benefits that may be available to you.
Personal Retirement Planning
Our retirement planning services typically include projections of your likelihood of achieving your financial goals, with financial independence usually the primary objective. When projections show less than the desired results, we can show you how making changes in certain variables (e.g., working longer, saving more, spending less, taking more risk with investments, etc.) can improve those projections. If you are near retirement or already retired, we can offer guidance on appropriate distribution strategies to minimize the likelihood of running out of money or being forced to significantly reduce spending during your retirement years.
We can help you determine post-secondary education funding goals for your children and discuss possible savings strategies and the “pros and cons” of various college savings vehicles.
We may offer guidance on ways to minimize income taxes as a part of your overall financial planning picture. For example, we can offer recommendations regarding accounts or investments based in part on their “tax efficiency” (with consideration given to the possibility of future federal, state or local tax law changes).
We review your exposure to estate taxes and your estate plan, including existence of a will, powers of attorney, trusts, and other related documents. We can assess ways to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of applicable trusts. We also recommend that you consult with a qualified attorney when you initiate, update, or complete estate planning activities, and we can provide you with the names of attorneys who specialize in estate planning if needed. (With your approval, we may wish to participate in meetings or phone calls between you and your attorney.)
A broad-based plan is an endeavor that requires detail. Certain variables may affect the cost involved in developing such a plan, such as the quality of your own records, complexity and number of current investments, diversity of insurance products and employee benefits you currently hold, size of your potential estate, and any special needs you or your dependents may have, and so forth. A broad-based plan may require 10 to 20 or more hours to complete, depending on your circumstances.
At your request we may concentrate on reviewing only a specific area (modular planning), such as an employer retirement plan allocation, funding an education, estate planning issues, or evaluating the sufficiency of your current retirement plan. Although modular planning certainly has its place, remember that a modular plan is by definition limited and thus is unlikely to fully address your overall situation or needs.
Whether we work together to create a broad-based plan or modular plan, we will present you with a summary of our recommendations and guide you in implementing those that you approve, as well as offer you periodic reviews thereafter at a reasonable cost. In all instances involving our financial planning engagements, you retain full discretion over all implementation decisions and are free to accept or reject any recommendation we make.
You may also engage our firm to implement investment strategies that we have recommended to you. Depending on your risk profile, goals, needs, and other considerations, your portfolio may employ one of our recommended investment strategies.
Financial Planning Services Fees
Multi-component planning engagement fee is generally in the range of $2,000, depending on the extent of the plan. This fee is estimated up front.
Clients may prefer a limited planning component engagement based on our hourly fee, such as guidance on retirement plan asset allocation. Our rate is $200 per hour.
Following the presentation of your financial plan, we are available to assist clients over the course of the year to ensure that they implement the various planning action items. For this assistance we generally charge an annual retainer fee of $4,000 to $5,000; however, it depends on the complexity of the client's financial profile and engagement requirements.
Financial Planning Service
Broad-based, multi-component financial plan
Generally $2,000, depending on extent of plan (Fee estimated up front.)
Limited planning engagement
$200 per hour
Assistance in implementing planning actions
Generally charge an annual retainer fee of $4,000 to $5,000
Portfolio Management Services Fees
Portfolio management accounts are assessed an annualized asset-based fee:
Assets Under Management
Annualized Asset-Based Fee
Up to $500,000
1.00% (100 basis points)
$500,001 - $1,000,000
0.75% (75 basis points)
$1,000,001 - $2,000,000
0.50% (50 basis points)
More than $2,000,000