Reason Financial Advisors Inc.
350 Pfingsten Road
Suite 108
Northbrook, IL 60062
FREE consultation appointment.
No solicitations.
We look forward to speaking with you!
Our Philosophy
Reason Financial Advisors, Inc. (RFA) is first and foremost a comprehensive financial planning firm that reviews the major financial issues of your life including cash flow analysis, retirement planning, risk management, investment management, tax management and estate planning.
We believe clients benefit by our Fee-Only approach since we have no potential conflict of interest arising from the sale of commission producing products. Our goal is to establish a long term client relationship with each client.
Modular Consulting
Ideal for client’s with interest in one or two specific areas on an “a la carte” basis.
Client's can select from areas that include:
- Asset Allocation
- Budgeting
- Goal Setting
- Employee Benefit Review
- Employee Stock Options
Education Planning- Income Tax Planning
- Insurance Review
- Retirement Planning
- Portfolio Review
- Estate Planning
This service is not intended for individuals seeking a comprehensive financial plan.
Comprehensive Financial Planning
Comprehensive Financial Planning is designed for clients who want a thorough review of their entire financial life, including goal planning, asset allocation, risk management, retirement planning, estate planning and specific investment advice, including 401(k)s and other qualified retirement plans.
Clients subscribe for one-year of service that can be extended on an annual basis.
We believe that Comprehensive Financial Planning is the cornerstone of the services we provide. Clients are expected to be actively involved in the planning process, and for married couples, the participation of both spouses improves the process and the results.
When someone schedules a no-fee, no-obligation Initial Interview to discuss their financial planning needs, we encourage them to complete our Initial Interview Questionnaire and submit it to us at least two business days prior to our meeting. By understanding in advance your unique situation, we will be able to better use our time together.
At the Initial Interview, we strive to determine your wants and needs and encourage you to evaluate our capabilities and your comfort in working closely with us. At the end of the meeting we will use the information we gathered to quote a fee for the first year of service. Fees generally begin at $2,500 and are based on a formula that considers the client’s assets, income, and the complexity of their situation. Engagements are open-ended with no limited number of appointments or time allocation.
Six Step Financial Planning Process
1. Establish client-planner relationship.
2. Gather client data and determining goals and expectations.
3. Determine the client’s financial state by analyzing and evaluating.
4. Develop and present the financial plan.
5. Implement the financial plan.
6. Monitor the financial plan.
Financial planning is a process, not an event. Yes, we provide each client with a written plan, but in reality, the written plan is merely a summary of the conversations that occur during our various meetings.
If you renew your service, we will ask you each year to furnish us updated information on key areas of your financial life so we can maintain the usefulness of the plan. We will input your revised data as we continue to meet and you will be able to monitor your progress in achieving your goals.
Investment Management Service
Some clients may prefer to have some or their entire investment portfolio professionally managed by Reason Financial Advisors, Inc., (RFA) a Registered Investment Advisor with the State of Illinois.
Under this service:
- RFA arranges for the client’s investments to be transferred to an agreed upon custodian.
- RFA performs a review of the client’s risk tolerance and designs an Investment Policy Statement (IPS) to serve as a roadmap in
- helping to achieve their goal.
- RFA presents client with a Recommended Securities Listing identifying all suggested investments prior to implementation.
- RFA initiates all investment transactions on a fee-only basis with no commissions.
- The custodian forwards all Trade Confirmation directly to client.
- The custodian mails account statement(s) directly to the client.
- RFA provides client with various reports each quarter including performance information
- Fee Schedule
- Fees are calculated and billed in advance each quarter based on assets under management at the beginning of the quarter. Our standard default is to deduct fees from a discretionary account, but in certain situations we can forward an invoice for payment by check. RFA employs a tiered fee schedule that reduces fees on larger accounts.
Principal – Patrick Doland
Patrick L. Doland received his BA from Upper Iowa University and his MBA in 1988 from the Kellogg Graduate School of Business at Northwestern University. He also graduated in 1981 from the Graduate School of Banking at the University of Wisconsin – Madison. Pat is a CERTIFIED FINANCIAL PLANNER™ practitioner, a Chartered Wealth Manager, and a Certified Cash Manager.
NAPFA: The National Association of Personal Financial Advisors is the nation’s leading organization of Fee-Only comprehensive financial planning professionals.
Please be aware that Reason Financial Advisors Inc. has a portfolio minimum of $250,000 to accept inquiries through this directory.
