Hourly consulting services include specific financial problem-solving and consulting in areas that are somewhat different than the mainstream issues of personal finance listed in the financial planning section. The advisors of Limoges Investment Management have expertise in a number of areas and we are hired to bring that expertise to bear on problems and situations that required attention.
Examples of hourly consulting services include:
- Specific Problem-Solving (whatever problem or situation the client presents for which we are qualified to offer help).
- Helping A Personal Representative settle an estate
- Meeting With Families to facilitate communication about financial matters or resolve far-reaching issues like planning estate distributions in advance
- Exploring Philanthropic Alternatives (Planned Giving)
- Evaluating Investment Opportunities presented to the client by other advisors
- Consulting For Unspecified Financial Situations
- Helping To Establish A 401(k) Or Other Retirement Plan
As evidenced by the range of services above, there are many potential situations in which we can provide a valuable service. Like financial planning, the costs for hourly consulting are based upon an hourly rate which is fully disclosed in a written engagement agreement.
Steps in the process
Like the steps in the financial planning process, we meet to identify and clarify the issues requiring assistance. Goals and preferences are identified and incorporated into the process of discussing and evaluating appropriate alternative solutions. Resources and situational information are identified and reviewed as necessary.
The advisor will request additional information as needed. Written recommendations are provided and explained to the client. Further review of the situation is at the discretion of the client.
We start with an introductory appointment to identify the issues of concern to the client. In the exploratory meeting it is important to ensure that both the client and the advisor are comfortable with the prospects of working together before any commitment is establishment by either party.
The client should bring to the first meeting information to help identify the client’s situation.
Services are provided in accordance with a written agreement signed by both the advisor and the client.