Advisor FAQs


1. What are the benefits of hiring PlanPrep to create financial plans for my clients?

We have the expertise to review the client data and enter it in the software correctly, so you can address the important issues for your clients faster and better.

We will save you time and help you make more money with each client, while placing your clients on the right track toward their goals.

Our plans can help you inherit your clients’ heirs as your clients, as well as turn their tax advisors into referral sources for you.

2. What can PlanPrep do differently than my staff?

PlanPrep is only on your payroll when you need our services.

We save you money on salaries, office space and equipment, training, and countless hours on the computer.

If you’re still not sure if our services are right for you, then please review these questions:

  • Do you have the time to master the software, train your staff to use it, and stay on top of the updates?
  • Does your assistant or paraplanner have the expertise to comb through the client data and analyze it properly?
  • How often do you have to hire new staff to do the planning, only to start the training all over again?
  • What reports should you generate to tell the story for each unique client situation?
  • What’s the highest and best use of your time?
  • How about your assistant or other new hires?
  • Wouldn’t you be better served by delegating to a master of financial planning the same way you hire outside portfolio managers and insurance companies?

3. What does it take for a financial planner to qualify for PlanPrep membership?

We work with advisors who have at least five years of experience in the business and value their time. If you can delegate critical, transparent tasks, this may be right for you.

4. Does PlanPrep provide advice or case assistance before I meet with a client?

Absolutely. You may find it beneficial to discuss a case with PlanPrep before you approach the client to better understand the information you need to gather and the questions to ask in your discovery meeting.

Burt Williamson has helped hundreds of advisors with their clients’ unusual financial matters, so chances are high that he has advised on the same type of situation your clients are facing.

5. How do I leverage PlanPrep’s expertise?

Call us with any questions at 650-730-6175.

When you are ready to start, submit the Apply Now Form (see below).

After receiving and reviewing the form, if you are approved, we will send you a signed copy of our Outsourcing Agreement.

After receiving the signed agreement, we’ll send you an encrypted welcome email on how to get started.

You can reply to that email to securely send PlanPrep any client files.

6. How long does it take PlanPrep to complete the work?

After receiving data, we typically respond within three business days by email with any follow up questions we have and data we still need.

Once we have your answers and all of the relevant data, we strive to have plans back to you within a few business days.

Changes or corrections requested by you after the data has been received or reports have been generated may extend the delivery date and could result in an additional fee.

7. What fact finder should I use?

If you have one that works for you, then keep using it.

You do not need to reinvent the wheel, just make the vehicle run more efficiently.

We will provide you with a checklist of materials for planning.

We have a suite of our own fact finders and plan samples for you to show your prospects and clients, which are available for an additional fee.

8. What software does PlanPrep use to create plans and reports?

  • eMoney Advisor / WealthVision
  • Microsoft PowerPoint, Word and Excel
  • PDFs

9. Do I need to subscribe to the financial planning software?

Yes, as PlanPrep abides by the copyrights and licensing agreement of eMoneyAdvisor.

The licensing agreement specifies under what conditions the software may be used.

10. How do I let my clients know about the financial planning services that I’m offering?

We suggest you tell them that you have a new service for a fee, and you’d love to have them come in to see how it works.

Whatever you decide, make sure your messaging is consistent with each prospect and client.

Burt Williamson is available to coach you on the conversations to have with your clients.

11. What about data security? How do I forward client data to PlanPrep, and how does PlanPrep get it back to me?

You can upload scanned files securely into the client’s eMoney / WealthVision vault in the Advisor folder, respond to our encrypted email, or send documents through your own encrypted email service.

PlanPrep will respond in the same manner you choose.

We do not accept hard copies of any documents.

PlanPrep takes precautions to protect your clients’ data as well as yours with encrypted emails and an encrypted hard drive.

12. How much do your services cost?

Review our Fee Schedule.

Additional fees may apply for requests to run additional scenarios or make other significant changes after our work has been delivered to you.

13. How do I pay for PlanPrep’s service?

We send you an invoice through PayPal or Zelle (if you have this available at your bank).

You may also call in with your credit card after you receive the invoice.

Checks are only accepted if sent in overnight envelopes.

14. How do I disclose that PlanPrep is providing financial planning services?

You should consult your attorney, OSJ or compliance department before engaging PlanPrep.

Your firm’s ADV Part 2A form should disclose that you “may engage third parties to provide financial planning services” for your clients, whether financial planning with us or third party money managers.

You may want or need to be more specific in written and verbal disclosures in naming PlanPrep specifically.

We can provide you with a disclosure document you can use to make your clients aware of the relationship you have with PlanPrep.

15. What do I need to submit to my compliance department?

Each firm has different requirements.

You may need to receive prior approval to use any PlanPrep forms, letters, executive summaries and financial analyses prior to showing or delivering them to your clients.

Your firm may have specific forms, disclosures and disclaimers that must be included in any reports PlanPrep creates, so it is essential to understand these requirements and provide them to PlanPrep with your first engagement.

Fee Schedule & APPLY NOW FORM

Advisor Fee Schedule 2-13-20 (pdf)


Apply Now Form (pdf)