Good News and Bad News

I want to share a few updates about PennyTree Advisors and myself in this first newsletter fo 2016. As with most things, there is both good news and bad news.

First the Good News

I  feel much better now that I no longer take medication to suppress my hormone levels and the effects of radiation treatments have diminished. My test results are good and the folks at Dana Farber say I am on track with the progress they expected. This is the “Watch and Wait” phase of this journey. Over the next six to twelve months, they expect my hormone levels to recover. When that happens, it is possible that the cancer will return. If it does, we will reevaluate the best treatment options. Until then, I continue to serve clients and conduct ethics training across the US and Canada.People tell me that I look healthy…..so,  good news.

Now the Bad News

Hourly and flat fees will increase in 2016. After speaking with other fee-only advsors in the Boston area, I find that my current fee structure is below the norm for other CFP® professionals with similar experience and expertise. Effective January 1st, the hourly rate for new clients increased to $250 per hour. Existing clients will be billed $200 per hour in 2016 but can expect the fee to increase to $250 per hour in 2017. In addition, for those clients enroilled in the Annual Review Program the minimum fee will increase to $250 per quarter upon renewal. If you are not enrolled in  the Annual Review Program, I encourage you to sign up. It assure that your goals stay on track, your data is up to date and helps with rebalancing your portfolio. It also eases the budget by spreading out the cost of financial planning on a predictable basis. Just email me if you prefer that method rather than hourly billing.

Next, I continue to explore options for succession plans for my practice but sadly without significant progress. I know that this is an important consideration for you and I continue to look at various ways for you to continue to receive clear, unbiased and objective advice after I am no longer able to provide this service myself. I hope that I will have good news to share on this issue in 2016.


I© PennyTree Advisers, LLC 2014