Fidelity has completed many of the tax forms needed for your tax preparation and some accounts still have forms outstanding. Our tax letters will be completed and sent once Fidelity has completed the information on your accounts. Be on the lookout for your letters and pass them on to your accountant.
Fidelity Trusted Contact Form
You may have received an offer from Fidelity to add a “trusted contact” to your accounts. New rules require that they offer this service to you and it is especially important for account holders who do not have an advisor. You are not required to provide a “trusted contact.” As part of our “aging planning” and estate planning, we have this information on file. If you have not completed a form yet, we will get this done at our next meeting.
As we shared with you during the holidays, we are now going to revisit fees at the beginning of every odd year instead the end of every even year. People have so much going on at the end of the year – we cannot believe we ever instituted that plan! We are working on the letters now and you will receive them shortly. Clients who came on board recently will not have a fee change and will not receive a letter.
We Are Full
The goal of Life Planning Partners has been to provide excellent financial life planning as a small niche firm. We have long stated our max would be about 100 clients. With the clients we already have committed for this year, we are nearing capacity. For the rest of the year, we are not going to take any more new clients.
Does this mean we will quit taking new clients forever? No. We occasionally lose clients and we appreciate the challenge of helping new clients. Our plan is to reopen to taking a small number of new clients each year depending on how well we are doing with time taking care of our current clients.
Our current clients send us fantastic new clients, so when we reopen, we will make the announcement to our current clients first so they can send interested friends our way.
Thank you as always for being a part of the Life Planning Partners family. As always, we appreciate your questions, comments, and unbridled feedback.
The LPP Team