Who We Are
Sound Financial Planning, Inc, (SFP) offers client-centered, fee-only financial planning services, and investment advice to individuals, families, and businesses. At SFP each team member is here to assist clients in making sound financial decisions that are in harmony with their goals, values, and dreams. The SFP team has developed a comprehensive, holistic wealth management process that offers you peace of mind in achieving your financial goals and dreams.
Our mission is to offer you an open structure in which we customize a financial life plan for you. Your unique plan will be created using only the tools in our toolbox that add value to your situation. Together, we will cohesively function as an architect and builder of your plan of action. Additionally, we freely make available the wisdom we have acquired through years of experience to each of our clients as the opportunity arises.
Recognizing our fiduciary responsibility to clients and the public, we will uphold the highest standards of care in the industry by espousing and practicing: Objectivity, Fairness, Suitability, Full Disclosure, Confidentiality, Integrity, Honesty, Professionalism, Competence, and Regulatory Compliance. The only compensation we receive is from you, our client. We do not receive commissions of any kind, removing any conflict of interest so you can rest assured we are only looking out for your best interest.
Led by founder and President William "Bill" Morrissey, CFP®, AEP®, we have been offering comprehensive financial planning for more than three decades. SFP also includes partner Tammera “Tammy” L. Prouty, CFP®, who has been with the company since 2000. Bill and Tammy are both members of the Financial Planning Association (FPA) and the National Association of Personal Financial Advisors (NAPFA). They are also both CERTIFIED FINANCIAL PLANNER® professionals and NAPFA-Registered Financial Advisors.
Our clients receive more than just investment advice; they receive comprehensive financial planning advice and education in all areas of their financial lives. As a result of our services, our clients enjoy financial peace of mind and are prepared for life’s unexpected events.
A NAPFA-Registered Financial Advisor is a financial planner who has earned the CERTIFIED FINANCIAL PLANNER™ designation, NAPFA recognized practitioner, fee-only, and who meets NAPFA’s rigorous standards. The National Association of Personal Financial Advisors (NAPFA) is the country's leading professional association of Fee-Only financial advisors — highly trained professionals who are committed to working in the best interests of those they serve
Certified Financial Planner®
The Certified Financial Planner® (CFP®) designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee.
Fee Only Network
FeeOnlyNetwork.com is a partnership with The National Association of Personal Financial Advisors.
Financial Planning Association®
The Financial Planning Association is a leadership and advocacy organization based in Denver, Colorado.
How We Help
Client-centered, fee-only planners, like Sound Financial Planning, Inc, (SFP) are compensated for their knowledge and services. We do not receive commissions from the sale of products such as insurance or investments. The added value of using a firm like SFP is that you may also save substantial amounts by following their advice, which is based solely on what the planner perceives to be your best interests. This advice—and the genuine financial benefits it can provide—is one of the most important things you pay a financial planner for.
Clients of a comprehensive fee-only financial planner receive broad-based financial advice, where the customers of a brokerage firm representative or a financial product salesperson typically receive only investment advice.
How do we do it?
SFP helps clients harmonize everything about their financial lives. This includes such areas as:
- Financial Life Planning: Your customized financial plan that will guide you in defining and designing your unique version of your “Ideal Life".
- Investment Management: Our investment philosophy relies on disciplined investment techniques based on sound academic research.
- Retirement Planning: Preparing for a new life transition after work.
- Risk Management: Being prepared for life’s unexpected events.
- Cash Flow Management: Developing a budget that will integrate well with your financial plan.
- Tax Planning: Looking at the most tax efficient ways to manage your financial life.
- Education Planning: Ensuring that your children or grandchildren will be able to meet their college funding goals.
- Estate Planning: Helping you to efficiently transfer your lifetime assets to your heirs and/or charities.
How are we compensated?
Sound Financial Planning, Inc (SFP) is a fee-only Wealth Management firm providing financial planning and investment management services. Because we act as fiduciaries, we do not accept commissions or incentives. As a client, you receive open and objective advice targeted to your unique situation. A summary of our fees is in the chart below. For a full schedule of SFP fees, please see our ADV, Item 5 - Fees and Compensation, starting on page 4 of the disclosure document for more detailed information.
ADV, Item 5 - Fees and Compensation
*Our annual retainer fees range from 0.30% to 0.65% of investment assets. There is also an annual planning fee.
Full Disclosure or No Disclosure
Many of the fees and commissions charged by the representatives of brokerage firms are hidden from view. If most consumers knew about these costs, they might object.
The difference between professionals and salespeople is that professionals disclose all costs and compensation clearly and visibly. This lack of full disclosure is one reason why so many customers of financial salespeople think they don’t pay anything for their advice. The only way to know exactly what commissions and fees you are paying is to read the fine print, ask the right questions, and insist on getting clear answers.
In consideration of the trust you place in us, we will commit:
- To act as your fiduciary – treating your money with the same care and prudence that we would treat our own. We will routinely make recommendations that we believe are best for you even if it means less revenue for our firm.
- To have no allegiance to any company, product, or service, beyond our belief in its ability to help you reach your goals.
- To get to know you, your personal goals, your struggles, and challenges around money, and to tailor our recommendations so that they help you create an abundant and free financial life.
- To treat your financial information in strict confidentiality.
- To treat you with respect, professionalism, honesty, and to maintain a nonjudgmental attitude toward the goals and information you present to us.
- To be available to you during business hours, by phone or in person.
- To deliver valuable advice even if it may create discomfort in the short-term. The people we work with prefer us to be honest whenever we encounter what seem to be unrealistic expectations or a pattern of living beyond one’s means, or a disconnect between stated goals and financial or purchase decisions.
Who We Help
Financial planning works best with people who realize there is a gap between where they are and where they want to be, when they are willing to learn, grow, and take action to close that gap.
Most of our clients are affluent or semi-affluent individuals and families who desire ongoing professional assistance and coaching in the creation and implementation of strategies to reach their life goals, as they may exist now or develop in the future.
We are here to help in many different types of situations. Some of our clients turn to us first for help with the sale or purchase of a business, retirement, receiving an inheritance, an insurance settlement, change in health, investment losses, a marriage or divorce, or the loss of a spouse or parent.
Our client-centered, fee-only financial planning process will help clarify your true values, priorities, financial goals, and aspirations that will guide you in defining and designing your unique version of your ideal life.