Frequently Asked Questions
Comprehensive Financial Planning FAQ
This page answers common questions about working with By Design Financial Planning, including who we work with, how our planning relationship works, how we are compensated, and what to expect when getting started.
Working With Us
Who do you typically work with?
We work with individuals and families who want their financial life to feel more organized, intentional, and connected.
Many clients are mid-career professionals, families, or people approaching retirement who want coordinated advice across retirement, investments, taxes, cash flow, insurance, estate planning, and major financial decisions.
Do work with clients outside of Greensboro?
Yes. By Design Financial Planning is based in Greensboro, North Carolina, and works with clients locally and nationwide.
Most planning meetings can be held virtually, which allows us to work with clients regardless of location.
Are you a fiduciary?
Yes. By Design Financial Planning is a fiduciary firm. That means we are required to act in our clients’ best interests when providing financial advice.
We believe advice should be based on your goals, resources, and financial situation — not on product sales or commissions.
Are you fee-only?
Yes. We are paid by our clients through financial planning fees and, when applicable, investment management fees.
We do not receive commissions or third-party compensation from insurance companies, mutual fund companies, brokerage firms, or other product providers.
Planning & Investment Management
What does financial planning include?
Financial planning may include retirement planning, investment management, tax planning, cash flow and debt strategy, employee benefits, insurance review, estate and beneficiary coordination, education planning, real estate decisions, and other major financial decisions.
These are not separate services. They are parts of one coordinated planning relationship.
What tax planning strategies do you help with?
We help identify and evaluate tax planning opportunities throughout the year. This may include Roth versus pre-tax retirement contributions, Roth conversions, backdoor Roth IRA strategies, tax-loss harvesting, charitable giving strategies, tax-aware withdrawal planning, and year-end income or deduction planning.
We do not prepare tax returns, but we can help coordinate planning decisions with your tax professional when appropriate.
Do you help with Roth conversions or backdoor Roth contributions?
Yes. We help evaluate whether Roth conversions or backdoor Roth IRA contributions may make sense based on your income, tax bracket, retirement timeline, account structure, and long-term planning goals.
These strategies can be helpful in the right situation, but they are not automatic recommendations. We help determine whether the tax cost, timing, and complexity are worth it.
Do you use tax-loss harvesting?
When appropriate, yes. Tax-loss harvesting can be useful in taxable investment accounts to help offset capital gains or create losses that may be used in future tax years.
We evaluate tax-loss harvesting in the context of your broader plan, including your investment allocation, tax situation, cash needs, and long-term portfolio strategy.
How do you coordinate investments with retirement income?
For clients approaching or in retirement, we help coordinate portfolio withdrawals, Social Security, pensions, taxable accounts, traditional retirement accounts, Roth accounts, cash reserves, and required minimum distributions.
The goal is to create a withdrawal strategy that supports your spending needs while also considering taxes, market risk, inflation, and long-term sustainability.
Do I have to transfer my investments to work with you?
In most cases, if you have investment assets that are part of your financial plan, we expect to manage those assets as part of the ongoing advisory relationship.
That allows us to coordinate the advice we provide with implementation, monitoring, rebalancing, tax considerations, and retirement income planning.
There may be some accounts we provide guidance on but do not directly manage, such as employer retirement plans, legacy accounts, or accounts that cannot be transferred.
Fees & Compensation FAQ
We believe financial advice should be transparent. Here is how our fee-only compensation structure works to put your interests first.
How much does it cost?
Ongoing financial planning fees start at $2,800 per year, depending on complexity and scope.
For clients whose investments we manage as part of the planning relationship, an asset-based investment management fee also applies.
What is your management fee?
When investment management is included as part of the planning relationship, the annual asset-based fee is:
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1.00% on the first $1,000,000
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0.85% on the next $4,000,000
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Negotiable on assets above $5,000,000
How are planning fees paid?
Planning fees may be paid from investment accounts, when available, or by credit card, debit card, or ACH.
Annual planning fees are billed quarterly in arrears.
Getting Started
01
What is the first step?
The first step is an introductory call. This conversation gives us a chance to understand what you are looking for, answer your initial questions, explain how we work, and determine whether By Design Financial Planning may be the right fit.
02
What should I do before the introductory call?
You do not need to prepare anything formal before the introductory call. It is helpful to think about what prompted you to reach out, what questions you are hoping to answer, and what you would like to feel more organized or confident about.
03
What happens after the introductory call?
Once we decide to work together and formalize the relationship, we begin the planning process by getting organized, gathering information, reviewing your current financial picture, and identifying the decisions that need attention.
04
How often do we meet?
Meeting frequency depends on your needs and where you are in the planning process. The first year typically includes more upfront work, while following years focus on monitoring progress and adjusting as life changes.