Who We Are
We are an independent, fiduciary, fee-only financial planning firm that focuses on tax-efficient retirement planning. We also offer ongoing investment advice and financial planning to clients approaching retirement and in retirement. Marjorie L. Rand, CPA, CFP®, RICP® (Marge) founded Rand Financial Planning, LLC in 2018 and serves clients in Hunterdon County, New Jersey as well as throughout our great country.
We are intentionally a small firm because we take pride in giving our clients personalized service and exceptional value. This means you will work only with Marge Rand, the sole financial advisor of our firm. Our desire is to develop a personal relationship with our clients that will last many years. You won't be just a number at our firm.
Katie Ressa is our friendly office administrator who is always willing to help you any way she can. Marge’s dog, Rangeley, comes to the office every day and enjoys greeting our clients. Of course, if anyone is not comfortable being around dogs, Rangeley is happy to sleep in her crate during our meetings.
What We Do
Using our comprehensive financial planning process, we work with you to develop a customized financial plan with an emphasis on mitigating various risks faced in retirement. As we guide you through this "retirement readiness process" and implement the steps together, you begin to have peace of mind about your future. You will also build the confidence you need to make the final leap into retirement when that day comes. We believe we offer the most value to you by having an ongoing advisory relationship with you throughout your retirement, as your financial plan will need to be adjusted as changes occur in your life.
How We Do It
What does comprehensive retirement planning look like? They say a picture is worth a thousand words.
This chart gives you an overall idea of the areas we cover in our first year of working with you. We address your most pressing concerns and needs first and from there, go through the other areas that are pertinent to your situation. We will have seven to ten meetings in the first year, depending on the complexity of your situation. These meetings can be either in our office or virtual using Zoom.
After our first year of working together, we will have three to four scheduled meetings each year to update your financial plan, address any new concerns that arise, implement tax planning strategies and make adjustments to your investment portfolio. You can also schedule additional in-office, online or phone appointments with us at any time at no additional cost.
How We are Compensated
As a fiduciary, fee-only financial planning firm, we do not sell any financial products nor do we receive or accept commissions, referral fees, or third-party incentives. Our compensation comes solely from what our clients pay us for our professional services. This is clearly stated at the beginning of our working relationship in a formal contract. Our business model enables us to provide you with unbiased advice and to focus solely on what matters most: your financial well-being. We operate on an open retainer model, which means in addition to our scheduled meetings, we are available to answer any questions you have at any time at no additional charge.
We strive to provide value that exceeds our fee.
Our fee for comprehensive financial planning is an annual fixed fee ranging from $ 5,000 to $ 25,000, and is calculated based on your total income, assets and overall complexity of your financial situation and needs. On average, we find that our clients' fees range from $ 8,000 to $ 12,000 per year. After we review your situation and discuss your financial planning needs, we will calculate your exact fee.
What Differentiates Us From the Rest
We proudly differentiate ourselves from other financial advisors in the following ways:
We specialize in retirement planning
A lot of advisors are “general practitioners”. Our expertise is specifically concentrated on helping you prepare for a safe and secure retirement.
We are not affiliated with any brokerage firms, insurance companies or banks. This means no one is forcing us to meet sales quotas or make recommendations that are not in your best interest. As an independent firm, we are free to provide advice that is solely in your best interest, and that is what being a fiduciary means.
We do not take custody of your portfolio which means you retain complete control over your investments at all times and you don’t have to move your money over to us in order to work with us. If you need to move your portfolio from its current location, we help you transfer it to Vanguard or Fidelity.
We are “fee-only”
Our fees are very straightforward. There are no hidden fees. We charge a flat annual fee that is based on your total assets, income and the complexity of your situation. All of this will be clearly stated in our Financial Planning Services Agreement.
We are fiduciaries
Not only do we put our client’s best interests first, we take our core values of honesty and integrity very seriously.
We do tax planning
Most financial advisors have very limited knowledge of taxation and many avoid providing tax advice. Capitalizing on our strong background in tax, we infuse our extensive tax knowledge to minimize taxes into all areas of your financial plan.
Marge Rand has earned a combination of designations focused on tax-efficient retirement planning:
Marge believes ongoing education is essential to staying updated on the ever-changing tax laws and retirement planning strategies.
We work with our clients virtually
Although our office is located in New Jersey, we enjoy serving clients across the country.