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Planners Alliance Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Planners Alliance is a financial advisor firm that's based out of Holland, Michigan. The firm has a team of 20 financial advisors that collectively manage $286 million in client assets under management (AUM). The firm works entirely with individual clients, all of whom have less than a high net worth. The firm provides a variety of services, from financial planning and portfolio management to annuity programs and retirement plan services.

Fee-based Planners Alliance employs some advisors that can receive commissions when they sell certain insurance products or securities to clients. This differs from a fee-only firm, which is any one that completely eliminates third-party compensation from its fee structure.

Planners Alliance Background

Planners Alliance was created in 2017, and it registered as an investment advisor with the U.S. Securities and Exchange Commission (SEC) in the same year. The firm and many of its advisors are affiliated with other financial advisor firms, such as Advisory Alpha, LLC and Simplicity Wealth, LLC. In fact, the firm provides some of its advisory services directly through these other firms.

Steve and Janine Osterink are the firm's two principal owners, with Janine also serving as its chief compliance officer (CCO). Steve Osterink is a certified financial planner (CFP), chartered financial analyst (CFA) and accredited investment fiduciary (AIF).

Planners Alliance Client Types and Minimum Account Sizes

The entirety of Planners Alliance' client base is made up of non-high-net-worth individuals. The firm also states that it offers services to high-net-worth individuals, defined contribution plans, defined benefit plans, corporations and other institutional investors.

There is no minimum account size requirement for new clients of Planners Alliance. 

Services Offered by Planners Alliance

Planners Alliance provides clients with both portfolio management and financial planning, along with services for retirement plan sponsors. A portion of the firm's portfolio management services are provided through third-parties and model portfolios. Many of these portfolios are available through Advisory Alpha, which offers a range of different allocation structures. Some portfolios are managed through a variable annuity platform too.

Financial planning services at Planners Alliance may include advice on a range of different topics. For example, the firm can help with investment planning, tax planning, retirement planning, college planning, real estate planning and more.

Planners Alliance Investment Philosophy

Planners Alliance works with clients to provide tailored investment advice. This means that advisors take note of a client's overall financial situation and objectives when developing an investment strategy. However, advisors may still use model portfolios and other pre-built investment programs to help manage client assets. The goals of each individual client are still kept in mind, though.

Advisors at Planners Alliance tend to lean towards fund-of-funds strategies, using a variety of mutual funds and exchange-traded funds (ETFs) to drive growth. However, depending on the client, advisors may also use indiviudal securities to flesh out portfolios. Strategies typically include elements of asset class selection, asset allocation, holding selection and portfolio rebalances.

Fees Under Planners Alliance

Planners Alliance charges investment management fees based on an annual percentage of each client's total AUM. This fee ranges from 0.10% to 2.00% annually. The exact rate you receive will depend on the specifics surrounding your client-advisor agreement. For context, a 2018 study by RIA in a Box shows the average annual advisory fee is 0.95% of AUM.

Financial planning services come with either a fixed or hourly fee. Specific fixed fees are determined on a case-by-case basis, whereas hourly fees range from $50 to $400 per hour.

What to Watch Out For

Planners Alliance has one disclosure from 2012 listed on its Form ADV. This disclosure relates to an advisory affiliate of the firm who violated a rule within Michigan's Professional Standards Occupational Code. As a result, a $6,000 fine was paid.

Planners Alliance is also a fee-based firm, as some advisors can receive commissions in their roles as insurance agents or broker-dealer representatives. This dynamic creates a potential conflict of interest, though the firm is still bound by its fiduciary duty, making it legally obligated to act in the best interests of clients.

Opening an Account With Planners Alliance

If you're interested in working with Planners Alliance, your best option for contacting an advisor is to call (866) 530-1400.

All information is accurate as of the writing of this article.

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How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

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Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.