Our Client Process

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Many clients have told us that they’ve wanted help with their financial planning & investing work in the past and have tried only to feel overwhelmed, intimidated, or felt like the process ‘wasn’t for me’.

Bridge Financial Planning was built with these insights in mind. We think financial planning should be empowering and engaging. We know that when there’s a clear direction and less stress involved with financial decisions, you have more time to spend on the things that are most meaningful to you!

We can help you understand the implications of financial decisions and take the guesswork and stress out of managing your finances.  Each aspect of your financial life is only a part of the larger picture. For example, a decision about your child’s education may have a direct effect on how and when you meet your retirement goals. Or an investment decision may have tax consequences that are harmful to your estate plans. Often, monthly spending habits affect your long-term goals. Your financial decisions are interrelated.

If you need help identifying risks and establishing and prioritizing goals or if you are not sure where and how to start, we may be the solution.

What should I expect from a financial planning relationship?

A professional advisor should always place the interest of the client ahead of his or her own – the definition of being a fiduciary. If a planner is a fiduciary, then he or she must understand the client’s goals, needs, and current financial situation; and make recommendations based on the best available options.

That’s why we are proud to be one of only a few firms that voluntarily holds ourselves to the highest standards in the industry by being a member of NAPFA (1 of only 4 in the Chattanooga area). Jennifer Harper has been a CFP® professional since 2006, and Allyson Hauss is a candidate for CFP® certification. We are a fee-only firm. That means we do not accept commissions, referral fees, or kickbacks from anyone. That allows our clients to focus on what’s important to them and know that we’re doing the same. We have signed a fiduciary oath.

Not all advisors are held to this standard. You should ask about it as you interview planners.


From the beginning, Bridge Financial Planning, LLC set out to make financial planning more welcoming.


What does it look like to become a client?

It all begins with a no-cost, no-obligation Initial Consultation. This meeting can be held in person, or by phone or video conference.

During this meeting, you can ask questions, give us insight about your current situation and share your goals and objectives. With the goal of understanding the scope of your needs, we’ll ask questions, and give information on our background, fees, investment philosophy, and explain the expectations of the client/planner relationship. 

After our meeting, we take a bit of time to develop a proposal that we believe is best suited to you, based on the initial consultation conversation.

Each client and their situation are unique. We offer 3 service options to meet your needs.

1.      Some clients are comfortable receiving their financial plan and implementing the plan on their own. For them, we offer hourly planning on an as needed basis. It can be customized to focus on one, several, or all financial planning topics.

Even ‘do-it-yourselfers’ that have the time and expertise to do their own planning and/or investing have received value from our professional and objective advice.

2.      Others would benefit from more ongoing accountability to be sure they stay focused and on-track. But, they may not have a lot of assets to manage – yet, or may have a lot of investments held in an employer retirement plan. For clients like this, we offer a monthly retainer service model. We work together closely in the early months to be sure everything is moving in the right direction. From there, we can meet as needed and tackle any revisions or updates that are needed along the way to stay on track.

3.      We also offer asset management services. Asset management includes financial planning when assets are greater than $250,000.

After mutually determining the scope of the financial planning engagement, the proposal will clarify the goals discussed and the steps going forward. Client agreements and regulatory compliance documents are shared and completed. Questionnaires will follow to further determine not only your stated needs and goals, but also values, priorities, and risk tolerance.

A secure Client Dashboard is created for each client to log into and add sensitive information as well as link accounts to ensure the most accurate details are used to develop planning and recommendations.

Information we often request include:

·        Tax returns

·        Paystubs

·        Credit card Statements

·        Bank and Investment Account Statements

·        Social Security Documents

·        Company Benefits

·        Retirement Account Statements and Information

·        Insurance policy information (health, property, life, disability, etc.)

·        Education Accounts

Next, a Base Facts Review meeting either in person or by phone/video is scheduled to be sure both client and planner are on the same page and all facts and assumptions are correct. After all, a plan is only as good as the information and assumptions going into the plan!

Then we’ll analyze and evaluate your financial details and develop financial planning recommendations, choices, and alternatives based on your circumstances. This is when we create alternative scenarios that will help answer your questions. Common questions include:

·        Is it possible for me to retire when I plan to?

·        Am I taking enough/too-much risk in my investment portfolio? Am I well diversified?

·        Do I have enough/too-much insurance?

·        Can I afford to fully fund my child(ren’s) education and retirement too?

·        Should I focus on paying down debt or saving more?

·        Which is better for me: renting or buying a home?

·        Should I keep my mortgage or pay it down quickly?

·        What if we moved to another state in retirement?

·        Can I still meet my long-term goals if I took a pay cut for better quality of life?

·        As a business owner, how can I manage the financial interconnection between my business and personal finances?

Once we’ve spent time creating your plan, we schedule a time for the Plan Delivery meeting. This is a time for us to share our observations and advice. It is also a time for educating and understanding the impacts of different scenarios. We’ll cover each of the topics outlined in our client agreement.

When we have an ongoing client relationship, the next step is implementing the plan. We can help implement investment strategies and help you stay on track with other tasks such as debt reduction, employee benefit changes, and provide support and encouragement as you become more financially empowered and your plan is more aligned with your goals.

We can help you avoid financial setbacks, deal with unexpected life events, get out of and/or avoid debt, evaluate education and retirement spending and scenarios, and decide where to put your money to reach your goals.

Have confidence that with clear direction you can make progress toward your financial goals.

Will it take time, determination, and discipline on your part? YES!

Schedule your Initial Consultation HERE.


Reflections after 3 years.

Three years ago today I started Bridge Financial Planning. After 15 years in the industry, I knew the ins and outs, and knew a few changes to the traditional model were needed to build what I would want for my family if we were in the client seat.

Clients don’t come in standard packages, so why make service models (and yes, fee models) be one size fits all? Why build a model that's solely based on investments, when financial planning is SO much more? Too often I saw business owners and families that needed professional advice be turned away or poorly served by the standard model.

Eliminating commissions and taking the steps to become a NAPFA fee-only firm is another way we align our services with the needs of our clients. No one should have to concern themselves about that distinction, but until we have professional standards in the industry that unequivocally put the client first, we believe it’s a necessary step to distinguish product sales from professional advice.

We still have a long way to go to reach the goals I’ve set – for our clients and for the business. But after three years, I’m happy to see that our vision has come to life and it's working to help our clients make progress toward their goals.

Seeing our clients make progress will always be our greatest joy. We’ve helped clients become more tax efficient with their investments, address their insurance needs, business planning, and education funding goals. We’ve had the opportunity to work with business owners through the process of discovering their business’ value and exploring the opportunities they have. We've helped our clients have meaningful conversations with their children about their values and dreams for the next generation. We've been inspired by their charitable giving. We've watched families and businesses grow! Many clients have greatly reduced or eliminated debt, created an estate plan, aligned their investment portfolios, and put their long-term goals and dreams in writing. Without that step, too often we can feel that saving and investing is an act of sacrifice instead of an act of progress toward meaningful goals.

We continue to commit to the cornerstones that built our foundation. We know that when our clients are served well, we will do well. We know that transparency is simply a great policy. We know that financial planning and investing can be complex, but it doesn’t have to be intimidating or overwhelming. 

We love what we do and hope that it shows through our work.

To our clients – A heartfelt Thank You!

Jennifer B. Harper,  CFP®


Important Announcement!

This year, we’re happy to announce that our Associate Advisor, Allyson Hauss, will be accepting new clients. Her specialties are working with professionals in early to mid-career, and with independent women in search of financial serenity. She is a candidate for CFP® certification.


A Time of Thanks and a Time of Giving

Give - iStock Photo

by Allyson Hauss

Can you believe it is almost time for the holidays? We will soon be eating turkey and making gift lists for family and friends. And don’t forget decorating and planning parties. I can almost smell gingerbread cookies, a crackling fire, and fresh cut pine trees!

It truly is the most wonderful time of the year – and a great time for giving! Whether we are giving of our time or resources, the holidays bring out the giver in all of us as we look for ways to help our neighbor or be a blessing to those in need.

The most rewarding benefit of charitable giving, of course, is the joy of contributing to a good cause, a strong belief, or a great need. But there is an extra bonus in charitable giving when that gift can also reduce your federal and state income tax, reduce your estate tax, and/or possibly reduce or eliminate capital gains tax.

For purposes of charitable giving, charities are classified as public or private, and there are deduction limits determined by the type of charity and the type of property. Keep in mind, however, that you must itemize to deduct a charitable gift, and only contributions made to qualified charitable organizations qualify for an income tax deduction. In addition, the gift must be made prior to the close of the taxable year for the gift to be deductible in that year.

If a charitable gift is made in cash, the amount of cash given is the deductible amount of the gift, up to 50% of the donor's adjusted gross income (AGI). The rules for gifts of other kinds of assets can become a little more complex. One of the more common options includes gifting appreciated stock. The charity receives the full market value of the gift, the donor receives a charitable deduction - and avoids long term capital gains!

When a gift of tangible personal property or real estate is made to a charitable organization that will use that property in their charitable function, the deduction for income tax purposes is generally the fair market value of the property on the date of the gift. If the property is subject to depreciation recapture, the fair market value is reduced by the potential depreciation recapture on the asset. The IRS has many rules covering income tax deductions for charitable contributions by individuals, which is why it is important to be knowledgeable as you choose where and how to give. IRS Publication 561 Determining the Value of Donated Property and IRS Publication 526 Charitable Contributions are great resources and a good place to start.

Concerning gifts to family and friends, every person may gift transfer-tax-free per donee up to the annual exclusion for the year, which for 2017 is $14,000. This means you can give up to $14,000 to as many related or unrelated people as you would like each year. So, if you have 2 children and 5 grandchildren, you can gift $98,000 in tax free-gifts this year. As a married couple, you can double that amount to $196,000 with each spouse giving half!

You can also make a tax-free gift by making a payment for qualified medical expenses or tuition for someone else. You must pay the qualifying medical care provider or educational organization directly to qualify for the exclusion, but what a great way to give a much-needed gift this season. Contributing to a 529 education savings plan is another great way to give the gift of education! 

Giving and gifting – so many choices! What a wonderful time to celebrate in a purposeful way as the leaves change and the cold weather moves in!

Remember that however you decide to give or gift as we quickly approach the holidays, it is best to have a plan. Each person is unique, and your financial plan should be driven by your values and what is meaningful to you and your loved ones. Your tax advisor and financial planner can help assist and guide you to determine the wisest way to achieve your giving goals that will bring joy to you and your family, bring hope to those around you, and be an integral part of your overall financial plan.


This article is for information purposes only and does not constitute a recommendation.


Choosing Peace over Profit can be Expensive

 Ripple Effect

Ripple Effect

At some point, I realized that there is no such thing as “normal”. Working with families means understanding that what’s perfectly reasonable and an inherent ‘fact’ in one family, may be unreasonable in another. 

Despite all our financial differences, there’s a theme that is common in many conversations. It was recently explained in a perfect way by a client. They said, “My spouse and I have chosen ‘Peace over Profit’.

What they were describing was that they had both known for a while that despite good income and a wealth of assets, they were on an unsustainable financial trajectory. They also knew that if they discussed it or asked each other (or their children) to change their financial habits, it would cause turmoil in the family. It was easier to stay with the status quo than it was to make changes to their financial habits that would benefit them in the long run. Well, easier until it wasn’t.

Issues that keep being swept under the rug will eventually need to be addressed. The longer we wait, the harder it will be to have the conversation and the harder it will be to change habits.

It’s nearly impossible to separate money from emotions. We all bring our own history, stories, and biases into the decisions we make. But, when we take the time to have meaningful conversations and develop a plan to address our biggest dreams and worst fears, we gain freedom. We gain the opportunity to have peace AND profit.

This family has already taken some bold steps to get back on track and has included their children in the conversation. I have no doubt this transition will continue to be difficult for a time. I also have no doubt that they’ll never regret their choice to take back control!


Big Success Starts with Small Habits

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by Allyson Hauss

In the past few months, both of my daughters have come to me with financial questions. You guessed it – they have an end goal in mind (more money) and are eager to find out the smartest and easiest way to attain it.

The youngest is 19 and a sophomore in college. Her goal is to have more money left over at the end of her sophomore year than she had at the end of her freshman year. Our agreement is that the money she earns in her part-time job during the school year goes toward her tuition, and income from her summer job can be used for extra expenses at college and savings. She found out during her freshman year how fast that money can be spent! Therefore, she wanted a plan for this year.

My first-born is 28 and a new mommy. She and myson-in-law are already planning for the education of their11-month-old boy. Her goal is to accumulate a college fund without sacrificing living now while giving to others in need.

For each of these goals and for so many more, my mantra is the same: whatever amount you can, big or small, start sooner rather than later and invest regularly.

Every person makes decisions every day that affect every part of their future. What are your needs? Whom do you want to bless? What can you do today that will bring about the tomorrow you envision? Through the power of time, discipline, and compounding interest, you can do it! No, you will not be able to do it overnight or without forgoing some wants; however, patience is not only a virtue – it pays big dividends!

So, you may ask where do I start? The best place to start is right where you are. What is your need/goal? What is your income, what are your expenses, and what is your surplus/deficit? Begin with your current budget and work toward spending less than you make. How much do you need? Maybe you can only start with $25 a month. Then save $25 a month! There are diversified investments that will allow you to begin with a small amount. No matter what amount you start with, be consistent and when you get a raise or pay off a debt, contribute more.

At $25 per month, starting at age 25 and earning an interest rate of 8% compounded monthly, in 20 years you will have $14,725; at $100 per month, $58,902; and at $750 per month, $441,765. Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”


The choice is up to you. You can pay someone else the interest through high interest credit cards and consumer loans; OR you can choose to pay off credit cards, build an emergency fund, save for purchases, and pay yourself the interest while investing toward your goals.


Your goal may be paying off student loans, going back to college to pursue a new profession, building an emergency fund, starting your own business, taking that dream vacation, or saving for retirement. If you are saving for retirement or a health plan, you may be able to have it deducted from your paycheck and - BAM - enjoy tax-deferred savings in addition to compound interest! If your employer matches a portion of contributions, then time and compounding works even more in your favor with the bonus of free money! And anytime you can have the money automatically withdrawn, whether it is from a paycheck or just from your checking account, it is easier to save when you never have the chance to spend it.

If you are new to investing, a good place to start might be with a mutual fund.  I recommend dollar cost averaging which is just a fancy way of saying make regular monthly contributions directly to a fund. Making it consistent builds a great habit and takes the work out of saving and investing. When you enroll in automatic investing, you avoid per transaction trade commissions. By purchasing in monthly increments, you take advantage of ups and downs in the market, buying more shares at lower prices which can give you a better return in the long run. Mutual funds can be purchased within retirement accounts, 529 plans, and many other investment vehicles. If you were to increase your monthly contributions with every pay raise you receive, this can be a painless way to accumulate more over time while achieving diversification. A qualified financial advisor can help you choose mutual funds that meet your objectives, risk tolerance and fit with your comprehensive financial life needs.

My husband and I have been surprised over the years at what small monthly investments have enabled us to do. No, we are not without financial struggles, but we have been able to take a few special family vacations, help our children with college tuition and weddings, and put some money toward retirement. So whether you are just starting out like my college student with dreams of traveling and seeing the world or a young couple starting your family developing a financial strategy for the future, you can achieve your goals by harnessing the power of regular monthly investing.


It's Time for Employee Benefits Review!

 Image from iStock Photo License

Image from iStock Photo License

About this time each year, Human Resource departments across the country are buzzing with activity around the next year’s employee benefits.

From an employee perspective, often that means that you’re given a small window of time to verify your benefits for the coming year. It’s easy to check off the boxes that keep everything as-is without regard to new or different options and the coordination of these benefits with the rest of your financial plan.

Please don’t rush through the process this year. Your decisions may have impact far longer than the coming year!

Employee Benefits can be a broad topic. They can include:

  • Health Insurance

  • Vision

  • Dental

  • Paid Leave

  • Vacation

  • Sick time

  • Family Medical Leave

  • Group Life Insurance

  • Group Disability Insurance

  • Short term disability

  • Long term disability

  • Retirement Savings

  • 401(k)

  • Profit Sharing

  • Employee Stock Option Plan

  • Deferred Compensation

This isn’t a comprehensive list of all potential employee benefits, but should cover the majority of common options. 

First of all, some of the decisions are made for you already. Typically, a business will have standardized policies regarding paid leave and base levels of provided life insurance, for example.

As for healthcare, I get a lot of questions about HSAs (health savings accounts), so let’s cover a few basics about them.

To be eligible to use an HSA, you must opt into a high deductible health care plan. If you choose a high deductible plan, in 2017 you can contribute up to $3,400 (individual) or $6,750 (family) pre-tax into an HSA (don't worry if you don't use it all - the balance will be available for future health care needs)! Also, you are allowed to contribute $1,000 more if you are 55+. While premiums are lower in a high deductible health care plan, they typically have higher out of pocket expenses associated with them (up to $6,550 for an individual, or $13,100 for a family).

When is it advantageous to opt into a high deductible plan and HSA?

That depends on your (and your family’s) health and cash flow. If you tend to only need preventive health care and don’t have a lot of annual expenses, a high deductible plan with an HSA account can be useful because any unused HSA funds can remain available for future use! However, if you tend to need a lot of medical care or could not currently cover the max out of pocket expenses from savings or cash flow, you may decide that higher premiums and lower out of pocket limits are more manageable for you and your family.

Retirement plans are also top of mind for many people. These may include 401(k), 403(b), SEP, SIMPLE, and other kinds of tax advantaged retirement accounts. While each of these types can be slightly different, there are a few similarities. First, they each offer some level of employer match and/or contributions (aka FREE MONEY!). Please take advantage of maximizing your benefit available from your employer match or contributions! If you don’t, you’re leaving money on the table. Consider increasing your contributions each year along with your pay increases. Even a 1-2% higher contribution can make a big difference over time.

Also, they have to offer diversified investment options. Many plans have adopted target date retirement funds as choices within their plans. If you are unsure of where to start, they can be a great way to become diversified with little effort. If you have several options, or have enough in the plan to want more than a target date fund, ask your financial planner for help determining the proper allocation.

Many plans have started to offer the Roth option. If you’re considering it, keep in mind employer contributions/matches will continue being placed into the traditional account, while your contributions will be placed into the Roth account. Generally speaking, the younger you are, and the lower tax bracket you are, the more advantageous the Roth account can be since you’ll be paying taxes now for tax-free growth and income later. Again, to be sure, please contact your financial planner, since everyone’s personal financial life is different!

Life Insurance and Disability Insurance is one of the most misunderstood parts of employee benefits. Many companies provide a limited amount of group life and/or disability insurance to their employees. During open enrollment, employees often have the opportunity to purchase additional coverage for themselves and their family members. Sometimes, it may also include Long Term Care insurance.

While insurance coverage is an important part of any financial plan, it is important to understand the differences between a policy that is available under a group plan versus one that is purchased individually based on underwriting health and risk screening.

Group insurance policies are often not portable, meaning your group coverage doesn’t continue beyond your employment. Please read your coverage carefully or ask your HR representative for help understanding the nuances of your benefits.

If it is important for your financial plan to have certain levels of insurance in place, it is important to evaluate the best kind of policy to meet the need. Keep in mind, if your health or risk ratings change during your employment, insurance may become more expensive or unavailable later.

These are all reasons I encourage my clients to keep me informed when they receive open enrollment documents. It may seem like an easy task to re-enroll as-is from last year, but your decisions can have a long lasting impact. Please see your financial planner if you have any questions about your benefits.


All written content is for information purposes only. Opinions expressed herein are solely those of Bridge Financial Planning, LLC, unless otherwise specifically cited.  Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.