Be an investor

Investments are a critical part of any good financial plan. While Planswell does not operate as an investment platform, the software is designed to help you evaluate the impact of your investments on your financial plan.

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In recent years, there has been increasing transparency around fees for financial advice.

While newly adopted regulations require that financial advisors act in your best interest and adequately disclose conflicts of interest, it can still be a challenge for consumers to understand the fees and compensation they pay for financial planning services.

Whomever you choose to help evaluate the impact of your investments on your financial plan, the aim should be to make you wealthier over your lifetime than you would have been without them.

Financial Planning to grow your wealth

While you invest your money, Planswell charts how changes in your contributions and lifestyle affect your goals and retirement.

How much does financial advice cost?

Maintaining a financial plan with Planswell is always free. Whomever you choose to manage your money, or even if you direct your own investments, there will be costs. Please be sure to ask the right questions of your financial advisor to ensure your understanding of the timing and amount of the fees that you will pay, and the services that you will be provided in exchange for that fee. As a general rule, you should not pay an annual investment management fee of more than 3% of Assets Under Management with your advisor, and financial planning fees that you pay should be reasonable and within your budget. Additional account and transaction fees may apply, so ask for these to be itemized in order to make an informed decision.

Planswell projects your wealth with the expectation you’ll capture the returns of the market. Actual outcomes rarely match how life plays out. With this in mind, the software encourages a conservative projection of market performance over time.