FINANCIAL PLANNING

A financial plan is a comprehensive statement of an individual's long-term objectives for security and well-being and a detailed savings and investing strategy for achieving those objectives. A financial plan may be created independently or with the help of a certified financial planner. 
Zaki Financial offers both options. We offer self-serve software-based financial planning and comprehensive one-on-one financial planning by a Certified Financial Planner.

FREE SOFTWARE-BASED FINANCIAL PLANNING

Zaki investment account is required

We offer software-based financial planning for free and as an incentive (an investment account with ZF is required). Our software of choice at this time is Right-Capital. By answering some personal questions and aggregating outside financial accounts, clients will have insight into future predictions. Clients will also have the chance to adjust assumptions and examine different scenarios.


Features offered are based on client's account AUM.

  • $50,000 or less    Free budgeting, cash flow and outside accounts aggregation

  • $50,001 - $100,000    Above plus investment planning

  • $100,001 - $200,000    Above plus retirement, Medicare and Social Security Planning

  • $200,001 - $300,000    Above plus college education planning

  • $300,001 - $400,000    Above plus insurance planning

  • $400,000 - $500,00    Above plus tax planning

  • $500,001 and above    Above plus estate planning


FOR LIMITED TIME ONLY> OPEN AN ACCOUNT OVER $50,000 AND HAVE FREE FULL ACCESS TO RIGHT CAPITAL (SOFTWARE-BASED FINANCIAL PLANNING)

COMPREHENSIVE FINANCIAL PLANNING

One-on-one with a Certified Financial Planner

This service involves working one-on-one with a planner. By paying an initial retainer, clients get access to a planner who will work with them to design their plan. If a continuous plan is chosen, the planner will monitor the plan, recommend any changes and ensure the plan is up to date.


Upon desiring a comprehensive plan, a client will be taken through establishing their goals and values around money. They will be required to provide information to help complete the following areas of analysis: net worth, cash flow, insurance, credit scores/reports, employee benefit, retirement planning, insurance, investments, college planning and estate planning.


Once the client’s information is reviewed, their plan will be built and analyzed, and then the findings, analysis and potential changes to their current situation will be reviewed with the client. Clients will receive a written (or an electronic report), providing the client with a detailed financial plan designed to achieve his or her stated financial goals and objectives. If a follow up meeting is required, we will meet at the client's convenience.


If a continuous plan is chosen, the plan and the client’s financial situation and goals will be monitored throughout the year, follow-up phone calls and emails will be made to the client to confirm that any agreed upon action steps have been carried out, and on an annual basis there will be a full review of this plan to ensure its accuracy and ongoing appropriateness and any needed updates will be implemented at that time.

Depending on complexity the entire plan cost is $2500 - $5000 and the continuous option after that is $250 per month. Hourly rate is available at $120 - $150.

CASH FLOW AND DEBT MANAGEMENT

Paying debt and saving for emergency fund

We will conduct a review of your income and expenses to determine your current surplus or deficit along with advice on prioritizing how any surplus should be used or how to reduce expenses if they exceed your income. Advice may also be provided on which debts to pay off first based on factors such as the interest rate of the debt and any income tax ramifications.


We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a review of accounts for such reserves, plus strategies to save desired amounts.


RETIREMENT PLANNING

Retirement, Medicare and Social Security

Our retirement planning services typically include projections of your likelihood of achieving your financial goals, typically focusing on financial independence as the primary objective. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables (e.g., working longer, saving more, spending less, taking more risk with investments).

If you are near retirement or already retired, advice may be given on appropriate distribution strategies to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years.

EDUCATION PLANNING

Saving for college, financial aid and tax strategies

Includes projecting the amount that will be needed to achieve college or other post-secondary education funding goals, along with advice on ways for you to save the desired amount. Recommendations as to savings strategies are included, and, if needed, we will review your financial picture as it relates to eligibility for financial aid or the best way to contribute to grandchildren (if appropriate).

ESTATE PLANNING

Wills, gifts, charity, titling and tax strategies

This usually includes an analysis of your exposure to estate taxes and your current estate plan, which may include whether you have a will, powers of attorney, trusts and other related documents. Our advice also typically includes ways for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of applicable trusts.

We always recommend that you consult with a qualified attorney when you initiate, update, or complete estate planning activities.

TAX PLANNING

Income efficiency strategies

Advice may include ways to minimize current and future income taxes as a part of your overall financial planning picture. For example, we may make recommendations on which type of account(s) or specific investments should be owned based in part on their “tax efficiency,” with consideration that there is always a possibility of future changes to federal, state or local tax laws and rates that may impact your situation.


We recommend that you consult with a qualified tax professional before initiating any tax planning strategy.

INSURANCE PLANNING

Insurance needs analysis

Review of existing policies to ensure proper coverage for life, health, disability, long-term care, liability, home and automobile.

OTHER GOALS

House, wedding, hajj, vacation...etc.

We will help clients identify financial goals and develop a plan to reach them. We will identify what you plan to accomplish, what resources you will need to make it happen, how much time you will need to reach the goal, and how much you should budget for your goal.