We will be happy to schedule a time to listen to you and answer any questions you may have, so we can both decide if we are right for each other. Request a convenient Free Consultation through the contact page.
A CERTIFIED FINANCIAL PLANNER™ Professional helps clients achieve their financial and personal goals. Here, our CFP® Professionals are part coach, part advocate, all partner. We are in this with you. We take a holistic approach with an emphasis on your entire financial life – not just investments. Ultimately, our goal is to create a path towards financial prosperity and peace of mind so you can focus on your family, career, that trip of a lifetime or rewarding retirement.
The purpose of the Accredited Investment Fiduciary (AIF®) designation is to assure that those responsible for managing or advising on investor assets have a fundamental understanding of the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility.
A fiduciary is a person who holds a legal and ethical relationship of trust with clients. We wouldn't have it any other way.
We provide all the relevant financial planning services that you would expect from a major financial organization, however, we are independent, life-centered and have developed a much more personal and objective approach.
For a flat annual fee we offer three meeting per year which are designed to get and keep your entire financial house in order and make meaningful progress.
The fee includes myself and our financial planning team, who create a comprehensive plan of action for you.
The outcomes for you are:
- You will know exactly what you need to do in order to have the highest probability of achieving your goals and mitigating all the risks that could prevent you from achieving your goals.
- All of the advice will always be aligned with your most important goals and your most deeply held values.
- You will know exactly how much cash reserves you should have, why, and how to make that happen.
- You will know, specifically, the best way to manage, reduce, or eliminate your debt in a time-frame that works for you.
- You will have the right amount of every type of insurance that you need to protect your plan.
- Your assets will be allocated in a way that gives you the highest probability of achieving your goals within the risk parameters that you tell us work for you.
- Having us coordinate with your lawyers, all of your legal documents will finally be in place so that, in the event that you either of you are unable to speak for yourselves, your wishes will be carried out. I’m referring to wills, trusts, health care directives, POAs, etc.
- Coordinating with your accountant, this will all be done in the most tax-efficient manner possible.
- Perhaps, most importantly, we will hold you accountable to do what needs to be done so you achieve what you want to achieve.
- In a nutshell, you will have a very high level of confidence that no matter what happens in the market, the economy, politics, or word events… you will achieve your goals.
Yes. Details matter and managing them correctly means more income for you in retirement. Balancing the best practices of wealth management, tax logic, asset location, and Social Security optimization can be challenging when doing it alone. These real life challenges are one area where we add value to you. When faced with these tradeoffs having a trusted advisor who is not compensated by investment or insurance commissions can create more clarity for you as we are not burdened with the conflicts of interest many advisors face when offering solutions which pay them differently.
Yes. In fact, in each meeting we provide an annual tax projection visual as one of our key reports we turn to to help you understand what you are currently paying and what we expect you will pay in the future. Tax law is constantly changing and we believe tax planning is a year round exercise, not just at the end of the year or when tax filings are due. We have found those who are more proactive with their taxes have better outcomes.
Yes. Cashflow planning is a core part of our planning process, we offer a simple and effective way to manage expenditures, reduce debt, increase savings, and fund important life goals.
Yes. We consider Roth conversions and related Roth strategies a part of tax planning which can improve lifetime cashflow when executed correctly.
Yes. Whether or not you are currently exposed to estate taxes, estate planning is a critical component of financial planning. Tax & estate law is constantly changing and it is important to understand what will happen should something happen to you in the event of death or disability to empower you to make changes as you see necessary. Like each element of financial planning reviewing your estate plan and your current beneficiaries will provide greater intentionality in your life.
Great question, and the answer is a key factor that motivated me to create an independent, fee-only financial planning firm in Montecito, CA. I firmly believe and understand that your life, dreams, hobbies, family, friendships and career endeavors are what matter most, and helping you have more relaxed time to enjoy them is what our process delivers all along the way. That is fun.
Yes. We provide advice on how to allocate all of your liquid assets, from your bank accounts to your investment accounts. We have found in recent years that often clients are leaving money on the table due to a lack of awareness of the marketplace for cash management and investment management.
Big difference! We are 'fee-only' advisors and financial planners. Simply stated, a fee-only advisor is compensated directly and only by their clients, and that is their total compensation; while 'fee-based' advisors charge both Fees AND Sales Commissions, and may also receive sales commissions from third-party products they sell. Specifically, we do not receive or take sales commissions, trading commissions, mutual fund commissions, or product sales incentives of any sort. The extremely different, 'fee-based' advisors not only charge a fee, they also may sell investment products for additional offering concessions and/or sales commissions, along with receiving ongoing distribution sales commission trailers based upon client assets invested in certain mutual fund investment/insurance and/or other products they have advised/sold to their clients.
No. We are fee-only. Our only source of compensation is the fee you pay. All these other ‘fees’ create expensive and awkward conflicts of interest, which are the antithesis of our model. The essence of designing Plains Coastal was to have zero conflicts of interest and to provide empowering advice that helps you come to a decisions that you are happy with.
We do Real Life-Centered Financial Planning versus solely managing money, specifically your investments alone. We believe clients should have human beings planning their prosperous financial lives. Human insight, understanding and common experiences make for a better-informed Life-Centered Financial Plan.
Our greatest dreams are not merely financial. We want closeness in our relationships, meaning in our lives happiness for those we love. We want to see causes championed, lives and communities transformed and yet the plans we tend to rely on to help us accomplish life's goals are primarily financial in nature.
Financial planning is wise and financial resources are often necessary to help our dreams along, but just as buying a gym membership will not bring you vitality of life. Financial and estate plans will not bring you the desires of your heart, not by themselves.
Getting from here to there will take more than time and money.
In my work with families we pursue great dreams we explore the tension between competing priorities such as family harmony, business continuity and individual well-being.
We tackle the challenges of relationships, communication and trust.
We build skills and habits.
We resolve conflict.
We move from avoidance to action.
From intentions to intentional pursuit
Greater things are possible for you and your family than you realize.
The future you hope for need not be just a wish.
My hope for you is that you will allow yourselves to pursue great dreams and be purposeful and your planning at Plains Coastal we can help.
We charge a flat fee driven purely by the services relevant to each client. Our service agreements typically range from $6,000 a year to $30,000 per year. Our average client pays a flat annual fee of $12,000.
Credit card or bank draft. It’s a seamless transaction through our billing system.
No. We work as your advocate to seek out, find, and oversee managers that best fit you. This “unbundled” approach lowers your overall cost.
We believe you should pay for service rather than pay based on how much money you have.
We know from experience that it does not cost a firm more to manage a portfolio of $1,000,000 than a portfolio of $500,000; it does not cost more to manage $5,000,000 than $1,000,000. Why, then, should clients pay more to receive the same services?
Furthermore, our flat fee model breaks down some of the barriers that keep some people from financial planning in the first place. And we want everyone to be able to plan for a fun, prosperous and purposeful financial life.
Yes. It’s important that we take a universal look at all your investments and financial life before making recommendations.
The service agreement for our ongoing financial planning services continues until it is canceled by either party at any time and for any reason without any penalty.
It is quick and easy, we just need a bit of information to get started. We typically meet 2 times before taking on any new client to make sure we are on the same page and we can fulfill your needs. Once we decide to work together, we will send you our financial planning services agreement, which you can complete online. After that, we review what we have discussed and confirm an outline of the next steps. We will generate a personalized calendar for you as a reminder for future meetings and any homework which may be completed between meetings.
No. You can retain your existing accounts. We will tell you if there is a disadvantage to doing that.
No cancellation fees. Our relationship is “at will,” which means that either of us can quit at any time. It’s a month-to-month arrangement.
We are located in Montecito, CA.
Our office is conveniently located in the Upper Village by appointment only.
William T. Toner