We believe a successful, long-term professional relationship is built upon mutual trust, effective communication and a shared commitment to the financial planning process. Understanding individual concerns and financial goals is a critical element of this partnership with our clients. Our comprehensive, personalized approach is aimed at enhancing the quality of life for each of our clients. Clients enjoy the benefits of less worry, a feeling of financial security and knowing that a team of experienced professionals are providing the guidance necessary to best utilize personal financial resources. This approach provides our clients with the ability to spend their time and energy on the things that are most important to them.

We believe that an informed client is an integral part of the financial planning process. We emphasize ongoing client education because most people are more comfortable making decisions if they understand the relevant facts and information. We encourage clients to ask questions and provide feedback on how we can best serve their needs. To assist those interested in our services, we offer an introductory meeting at no cost or obligation because we recognize that selecting a financial advisor can be a difficult process. At this meeting, prospective clients will meet with one of the principals of the firm to outline their financial concerns and objectives and to learn more about AFP. We are confident that AFP will compare favorably when evaluated on objectivity, responsiveness, experience and work quality. Our strong commitment to remain a leader in technology, and professional expertise assures a level of service that is unsurpassed in New York's Capital Region.

FEE ONLY

Albany Financial Planners, Inc., has been a fee-only firm since its formation over 20 years ago. For planning services, we are paid on an hourly, or occasionally on a fixed fee, basis. All rates are fully disclosed during the initial meeting and an estimate of the total costs based upon the services requested is given at the same time. For investment management accounts, we are paid fees based upon the value of each portfolio to assure that AFP’s interests are always aligned with those of our clients. We do not receive commissions, referral fees, expense reimbursements, or compensation from any other source. Our loyalty and allegiance is to our clients. We believe that our clients are most comfortable knowing that we provide objective advice without any hidden agenda. Our independent, unbiased approach reinforces our highest priority of always putting our client’s interests first.

FINANCIAL PLANNING

Modular Financial Planning - This is our most popular financial planning service. From the Planning Services Menu (below), clients select the specific priorities on which they want to focus. The areas most often chosen by clients for analysis and updated recommendations are investment review, retirement accumulations or distributions, education planning (if applicable), basic estate planning and a review of recent tax law changes and related strategies. All recommendations are presented in a report that is reviewed and discussed during an office meeting. This service is most often followed by a once a year office meeting for an Annual Review along with occasional phone calls or meetings as the need arises. The annual review also gives clients the opportunity to address any new areas that had not previously been a priority. The clients typically using this service may fall within a wide range of personal net worth that could be two hundred thousand or two million dollars. The fees are determined by the needs and complexity of each situation and based on the amount of time required to address individual priority issues.

Comprehensive Financial Planning - This is our most extensive, in-depth planning service as it evaluates the client's TOTAL FINANCIAL SITUATION. All of the items from the Planning Service Menu (below) that apply to individual needs and objectives are considered. We gather all relevant financial information, so that we may thoroughly analyze the data. We also examine the various alternatives within the context of personal attitudes and parameters, while recognizing the varying emotional impact of money on people's lives. Each client is then provided with an integrated series of written recommendations that helps assure personal financial goals are achieved. As a follow-up to the meeting in which the recommendations are presented, we also guide clients through the implementation and monitoring of the recommendations. We can coordinate individual decisions with other advisors (attorney, accountant, etc.) if needed. This service usually involves 2-3 meetings each year. Clients utilizing this service often have a minimum net worth of at least $2 million.

Planning Services Menu

INVESTMENT MANAGEMENT

Investment Allocation Service (IAS)

We start the investment management process by working with each individual to identify tolerance for risk (e.g. conservative, moderate or aggressive), specific investment goals, income needs, and time horizon. Based on client input, we prepare an Investment Policy Statement that provides written guidelines for each account. In order to keep costs low, the primary investment vehicle is no-load mutual funds. We believe that diversification among and within multiple investment categories can help reduce risk while increasing returns. We do not believe in trying to time the market nor will we chase the current hot sector by greatly overweighting a specific market segment.

Our disciplined approach simplifies the investment management process by saving client's time, reducing paperwork and providing each client with the comfort that financial professionals are responsible for monitoring each portfolio to assure consistency with individual client parameters.

In addition to ongoing oversight of each portfolio, our clients receive confirmations of each transaction, monthly or quarterly statements, quarterly performance reports and market updates, at least one office meeting each year and unlimited direct telephone access with questions about the IAS account. The minimum amount to open an IAS account is $100,000. Michael Hickey, the President of the firm, personally supervises all of AFP's investment management services.

RE-ALlocation Service (REAL)

This service is a streamlined version of the IAS described above and is designed specifically for tax advantaged accounts such as an IRA. Accounts eligible for this service range from $25,000 - $100,000. We utilize no-load mutual funds as the primary investment vehicle and emphasize diversification as an important strategy for reducing risk. We automatically review and reposition each account once every three months. Clients receive confirmations of each transaction along with regular statements directly from the mutual fund group where the assets are held.

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TAX PREPARATION

AFP prepares federal and state income tax returns. While personal returns are the single largest component of this service, tax returns are also prepared for trusts, estates and small business clients. Donald Carman, Vice President of the firm, personally supervises all of AFP's tax preparation services.

Tax planning services may include evaluations in areas such as the rental or sale of real estate, exercise of stock options, alternative minimum tax, calculating the tax impact upon the sale of investments, taxation of Social Security and retirement plan distributions, etc. We work with clients to establish the appropriate amounts and timing for withholdings or estimated tax payments to ensure compliance and to avoid penalties.

OTHER SPECIALTY SERVICES

• "Sudden Wealth" guidance for clients who receive a large windfall from lottery winnings, an inheritance, an insurance or legal settlement, sale of a substantial asset, etc.
   

• Succession Planning for closely held family businesses.
    

• Transition services for company's wanting to assist employees who are retiring or impacted by downsizing.
    

• Retirement Plan Administration for corporations that utilize our Investment Allocation Service for their Company's retirement plan.
   

• Financial planning as a Fringe Benefit.