Milestones Financial: Objective, Advice-Only Financial Planning

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What is Milestones Financial: In terms you care about

Milestones Financial is an independent, fee-only financial advisory firm that provides advice-only retirement and tax planning for DIY investors. The firm is built around three core benefits for clients:

  • Objective advice: You receive recommendations legally and ethically bound to your best interests—not commissions or meeting a sales quota.
  • Control and clarity: You remain in full control of your accounts and investments while receiving a clear financial roadmap for your future.
  • Flat-fee and hourly pricing: You pay only for my time and expertise—not a percentage of your assets. My fees are transparent and established up front.

Clarifying my value: The focus is always on you

When discussing my flat-fee and hourly retirement and tax planning firm, Milestones Financial, I try to avoid the common mistake of solely focusing on what I’m most comfortable with rather than focusing on what you care about. If I’m not talking about how I’m going to make your worry go away, why should you care?

For some financial advisors, the automatic assumption of “clarifying the value they provide” refers to them telling you all about the services provided and benefits realized—which is more like “beating you over the head with the value they provide.”

The reality is that clarifying the value I provide has very little to do with me; it’s all about what you want and need. Until I understand what you need and are looking for, I really have nothing to talk about.

As I explain the services that can be provided through the Flat-Fee Financial Planning Services engagement, I only elaborate in response to your interests or needs during an introductory conversation.

The 4 underpinnings of the Flat-Fee Financial Planning Services engagement

A helpful resource I provide that describes the benefits of the Flat-Fee Financial Planning Services engagement is the Financial Planning Services brochure.

Talking you through the key points of the Financial Planning Services brochure also provides a good structure for us to follow as I describe how the Flat-Fee Financial Planning Services engagement can address your planning priorities.

The front page of the Financial Planning Services brochure addresses the four major points that every client can expect when working with me:

  • Straight talk
  • Accessibility
  • All-inclusive approach
  • Value for your money

You’ve likely reached a tipping point in a problem to reach out to a financial advisor, and that concern will be top of mind for you. I can cover all points in the Financial Planning Services brochure, but I would like to highlight whichever points most address your concerns during an introductory conversation.

Straight talk

As a fee-only financial advisor, I do not accept commissions, referral fees, or compensation of any kind based on my recommendations. The only money I receive is what clients pay directly under the terms of the engagement agreement.

Avoiding this inherent conflict of interest regarding compensation allows me to think strategically for the benefit of my clients by providing objective financial advice that’s always in clients’ best interests with every recommendation made. That’s called being a fiduciary.

This correlation will mean even more to someone who has been “burned” by a financial salesperson in the past.

Accessibility

One reason people make financial errors is because they do not have an expert to ask.

It’s to my advantage to be as accessible as possible. I would rather help keep clients from making a terrible mistake than help them dig out from it later.

Your situation will change as your life inevitably changes. I want you to feel secure about your money and to contact me before making any big financial decisions.

All-inclusive approach

It’s common for people to have one person handling their investments, another person their taxes—if there’s any proactive tax planning being done over the course of the tax year—another person their insurance, and another person their estate plan. It’s even more common for there to be no communication and coordination among these people.

I like to take a holistic approach to financial planning by integrating your investments, tax planning, insurance, and estate plan into one complete plan. This allows me to bring all the pieces of your financial puzzle together and make recommendations based on the big picture.

I’ll consider everything I know about your relevant circumstances, needs, goals, values, and aspirations when making recommendations.

Value for your money

I’m committed to providing real value greater than the engagement fee.

This value may come in the form of commissions saved, investment expenses reduced, additional tax deductions identified, or many other possibilities due to my desired all-inclusive approach.

Many of these benefits are hard to quantify, especially in advance, so I’m always careful when I explain this point. There’ll never be any bait-and-switch with the information I share.

The coordinated approach to “life-integrated” financial planning

Next, on the back of the Financial Planning Services brochure, I cover the services and benefits you can receive from my coordinated approach to “life-integrated” financial planning.

I’ll continue to focus on your specific concerns and priorities and address how the services can fix your problems. If there are areas where I can save you money or help reach your goals more quickly, I can focus attention on those, too.

The services provided through the Flat-Fee Financial Planning Services engagement can include:

Worry-free retirement planning

My approach to retirement planning is likely a different method than many people have ever encountered before.

Traditional investment-driven views of retirement planning are designed to drive sales by frightening clients with reasonable sounding scenarios that often do not reflect real life—where assumptions of unpredictable factors, such as future inflation and investment performance, are used.

My approach reflects the real-life experience of people, who acknowledge the uncertainty of projecting far into the future and need to consider the financial characteristics of their retirement many times during their lives.

Worry-free retirement planning is also more than just accumulating money for retirement. It involves using the most tax-efficient investment methods among the many sources available to provide the nest egg needed for financial independence.

I can help you sort out and clarify your retirement goals and objectives—financial and otherwise—and determine whether or not you’re on track to meet them.

Coordinated investment advice

The investment planning process I like to take clients through has three primary stages: Portfolio analysis, asset allocation plan, and investment selection.

The first stage is portfolio analysis, where I can review all your current investments, let you know exactly what you have, and share with you whether or not your investments are appropriate for your risk profile, tax bracket, and goals and objectives. This allows me to more fully understand your current financial picture.

The second stage is asset allocation plan, where I develop an investment blueprint that maintains balance in your portfolio; striving to protect you from financial ruin in a down economic cycle and providing growth opportunities sufficient to meet your goals and objectives in an up economic cycle.

I also incorporate asset location into our review—which is a tax-minimization plan that takes advantage of different types of investments getting different tax treatments—of your asset allocation plan.

The third and last stage is investment selection, where I analyze and recommend specific investments.

In addition to being fee-only, Milestones Financial is an advice-only financial planning firm. This means I can perform analyses, provide advice, and make recommendations—the time-consuming, “heavy-lifting” work—without requiring you to move your money to a custodian where I control it. You get to keep your accounts where you want and maintain full control of your hard-earned money.

My clients appreciate the fact that investment planning is far more intricate than simply placing trades in their accounts for them.

Skillful tax planning

Tax planning is not as glamorous as other areas of financial planning, but this is where I can potentially save my clients substantial sums of money.

I would like to meet with you to project your income tax liability and help you implement tax-saving strategies.

My focus is on reducing your tax liability so that you give the government only what’s legally required and not any more.

The bottom line is that every tax dollar saved is another dollar you can put towards the things you want to do.

Value-based risk management

I can review your insurance policies—life, auto, home, umbrella, disability, health, long-term care, etc.—and let you know what you are and are not covered for and make recommendations for coverages you should have.

Most people get insurance advice only from someone who’s trying to sell it to them. For many people, this is the first objective review of their insurance coverage they’ve ever received, and it’s a welcomed change, as is taking the time to make sure you understand your coverage.

My approach to insurance is based on the belief that insurance should be used only to cover true economic risk.

Proactive estate planning

I can review your situation, help you think through legacy issues, and help develop an estate plan that addresses the pertinent estate matters.

If you need a will or trust, I can help you gather information for the attorney—which may result in fewer attorney fees—and refer you to a qualified attorney who will prepare the documents.

If you already have a will or trust, I can provide fresh eyes and ensure it says what you want it to say to accomplish your wishes.

Lifestyle spending review

I can help you identify your spending to be sure you are making progress toward your goals and objectives and have enough money set aside for emergencies and special opportunities.

I can also introduce you to tools you can use to help track where your cash goes and how to arrange your money to have cash flow and savings organized automatically.

Goal clarification and assessment

I can use in-depth exercises to help you identify your long-term goals and set annual financial objectives to attain those goals.

In addition to discussing tactical goals, we can also have a dedicated appointment that focuses on these broader, strategic-level life goals: What your money and all this financial planning is really all about; what it is that truly brings you the most satisfaction in life.

Goal visualization also helps me avoid imposing my own goals on you. Ultimately, our work together is on creating your financial plan.

Flexible services adapted to your needs

Because life situations change, I view financial planning as a process and not a one-time event.

I can help address your unique financial planning concerns as life circumstances change.

As a returning client, those requested follow-up services are available through future Hourly Financial Advising Services engagements, where you only pay for the time you need, when you need it.

Ready to get started with financial planning?

I hope that the answer is an unqualified “YES!”

Since the services offered from one financial advisor to the next can be drastically different, the Financial Planning Services brochure can help correct any major misconceptions on the part of people considering my flat-fee and hourly retirement and tax planning firm, Milestones Financial. It can also help you discern if the services I provide are actually what you’re seeking.

If you’re ready to realize your retirement dreams and take control of your finances, please schedule an introductory conversation to see if we may be a fit.

 

Common questions about working with Milestones Financial

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What does it mean that Milestones Financial is an advice-only financial planning firm?

Being an advice-only financial planner means I provide analysis and specific recommendations, but I do not require you to move your money to a custodian where I control it. You maintain full control over your accounts and assets while benefitting from expert financial guidance—without having to do the research and analysis on your own.

What’s the difference between an advice-only financial advisor and a traditional fee-only financial advisor?

Both advice-only and fee-only financial advisors are fiduciaries. However, many fee-only advisors charge an ongoing percentage of your assets to manage your investments. As an advice-only retirement and tax planning firm, Milestones Financial provides clear, professional investment recommendations—such as what to buy, sell, or adjust—while you retain full control of your accounts and avoid the ongoing cost of investment management.

What’s included in the “all-inclusive” financial planning approach?

I like to take a holistic view of your financial life by integrating five key areas: retirement income planning, coordinated investment advice, skillful tax planning, risk management (insurance review), and proactive estate planning. This approach helps ensure all parts of your financial plan work together toward your goals and objectives.

How can tax planning save me more money than investment returns alone?

While investment performance matters, tax planning is often where meaningful savings are realized—because, unlike investment returns, it’s an area we can directly influence. I can focus on proactive strategies to help reduce your tax liability, so you keep more of what you earn instead of paying more than is necessary to the IRS.

Can I work with Milestones Financial for a one-time project or ongoing advice?

Yes. Services are designed to be flexible. Most clients begin with a Flat-Fee Financial Planning Services engagement for a deep dive into their finances. From there, ongoing support is available through Hourly Financial Advising Services as your life circumstances, priorities, or questions evolve.

How do I know my investment plan is working if you do not manage my money?

You know your investment plan is working because you maintain full control and clarity. I empower you with specific recommendations—asset allocation, investment selection, and tax-efficient placement—along with clear, step-by-step instructions. For ongoing assurance, I’m available through Hourly Financial Advising Services to review your progress, adjust your strategy as life changes, and help keep your portfolio aligned with your goals.

Josh Gallogly, CFP®, EA

Josh Gallogly, CFP®, EA is the Managing Member and Founder of Milestones Financial, a virtual flat-fee and hourly financial planning firm based in Columbus, Ohio. He serves clients who like maintaining full control over their money and provides fiduciary financial advice on reducing taxes, investing smarter, and creating reliable retirement income.