Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Cornerstone Financial Planning, LLC Overview
Cornerstone Financial Planning, LLC is an investment advisory firm that specializes in providing investment advice services to their clients. The firm is headquartered in Portsmouth, NH and has been in business since 2016. Cornerstone Financial Planning, LLC operates as a fee-only financial planning firm, which means that they do not earn commissions from selling products or receiving kickbacks from other financial service providers. As a registered investment advisory firm, Cornerstone Financial Planning, LLC offers a range of services to its clients. These services include financial planning, portfolio management for individuals and small businesses, and the selection of other advisors as needed. The firm's investment philosophy is centered on creating a diversified portfolio while minimizing overall risk and maximizing returns for their clients. The focus of Cornerstone Financial Planning, LLC is to empower their clients through transparent and unbiased financial advice. They believe in delivering tailor-made investment strategies that meet their client's personal and financial goals. The firm's fee-only structure ensures that their clients receive objective investment advice whenever they need it. By building long-term relationships based on trust and transparency, Cornerstone Financial Planning, LLC has become a reliable source of financial guidance for individuals and businesses seeking investment solutions.
Cornerstone Financial Planning, LLC prides itself on serving a diverse clientele, which includes individuals from all walks of life and individuals with high net worth. The firm understands that every client comes with their unique set of needs and financial goals, and therefore, they provide customized, comprehensive financial planning services to cater to each client's needs. From managing investments to retirement planning, tax management, and estate planning, Cornerstone Financial Planning, LLC has the experience and expertise to help their clients achieve their financial goals. When it comes to fee structures, Cornerstone Financial Planning, LLC offers a varied range of options, depending on the services provided. For clients who require investment management services, the firm charges a percentage of assets under management (AUM). The fee is calculated based on the client's AUM and is generally charged on a quarterly basis. For clients who require one-off financial planning services, an hourly fee is charged. In this payment model, clients are billed for the actual time spent on their financial plan. Finally, for clients who need ongoing financial planning services, the firm charges a fixed fee. This payment model works well for clients who require comprehensive financial planning services, including regular meetings, portfolio reviews, and other services. Ultimately, Cornerstone Financial Planning, LLC is committed to providing transparent, affordable, and customized financial planning services that help their clients achieve their financial goals.
Typical Clients, Fee Structures & Investment Minimum
According to the note in their Part 2 Brochure, CORNERSTONE FINANCIAL PLANNING, LLC's investment minimum is $750,000 for assets under their management or advice.
How This Office Can Help Cumberland County, ME Residents
Cornerstone Financial Planning, LLC. is a financial advisory firm that provides customized financial planning, investment management, and retirement planning services to clients in Cumberland County, ME. The company's goal is to assist clients in achieving their financial objectives while providing a high level of personalized service. Cumberland County residents may face a variety of financial challenges, such as navigating the complexities of retirement planning, managing debt, or deciding how to allocate investments. Cornerstone Financial Planning, LLC. works closely with clients to develop a deep understanding of their unique financial circumstances and goals. From there, the firm can help clients create a customized financial plan that addresses their specific needs and objectives. This may include developing a retirement strategy, choosing appropriate investments, managing debt, and creating a plan for saving and investing for future goals. With a focus on education and proactive communication, Cornerstone Financial Planning, LLC. is committed to helping clients navigate the ever-changing financial landscape and achieve their long-term goals.
Services Offered by Cornerstone Financial Planning, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Cornerstone Financial Planning, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
- Mon 8:30 AM–5 PM
- Tue 8:30 AM–5 PM
- Wed 8:30 AM–5 PM
- Thu 8:30 AM–5 PM
- Fri 8:30 AM–2 PM
- Sat Closed
- Sun Closed
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Cornerstone Financial Planning, LLC is registered to service clients in the following states:
- Florida
- Maine
- Massachusetts
- New Hampshire
- Texas
Disciplinary History
Cornerstone Financial Planning, LLC does not have any disclosures. Please visit it's Form ADV for more details.