You’ve worked hard to build your content creation empire. The long hours pouring your heart into your work and engaging your audience are finally paying off.
But in all the excitement, you realize that you need help navigating the finance side of your business. This happens A LOT when creators file their tax returns and pay way more than they expected.
It’s like playing a video game without a strategy guide, you’re not quite sure how to level up and maximize your success.
That’s where fee-only financial planning swoops in as your trusty sidekick, guiding you towards financial freedom and helping you turn the game of life into an epic adventure. In this blog post, we’ll dive into the world of fee-only financial planners and how they can level up your financial strategy.
What is a Fee-Only Financial Planner?
Believe it or not, the payment structures in video games are really similar to financial planning. For example, video games can come at a one-time cost, a monthly subscription, or a freemium with optional upgrades.
But, which is best suited to you and, more importantly, why does it matter?
At 1Up, we’re proud to be a fee-only financial planning firm. Meaning, unlike traditional advisors who earn commission from product sales, we charge flat fees.
So to the example above, the flat fees we charge are similar to paying either a one-time $60 or a monthly subscription to Game Pass for video games. We do not have a “freemium” option, since these types of fees are typically paid via commissions from vendors or hidden fees to you.
Benefits of Fee-Only Financial Planning for Content Creators
Transparency and Conflict-Free Advice
As content creators, we know that our audiences value transparency and authenticity. For example, think about how it would look to present a sponsored product that you don’t really care about to your audience.
We all know that doesn’t go too well.
Related Read: Maximize Your Income as a Content Creator: A Comprehensive Guide
Transparency and authenticity are exactly what fee-only financial planning offers. So when you work with a fee-only and Fiduciary advisor like us, you can rest assured that our recommendations are for your best interests.
Similarly, we don’t receive any commissions or kickbacks for promoting specific products or services. It’s like having a trusted ally who’s always got your back.
Putting Your Best Interests First
We take our Fiduciary responsibility seriously, which means we’re legally obligated to prioritize your best interests. Because of this, our recommendations are based on thorough analysis and tailored to your unique circumstances.
We’re committed to helping you make informed decisions that align with your financial goals and values.
Fee Structure and Expectations
Let’s talk about how our fee structure works. At 1Up, we charge for two core services: financial planning and investment management.
1. Financial Planning:
- Onboarding Fee (One-Time): Covers the heavy upfront work we do to build your comprehensive financial plan. This is similar to purchasing a game upfront and helps set the foundation for our ongoing collaboration.
- Monthly Planning Fee: Consider this your game pass subscription to us. You get access to our wide range of resources, quarterly check-in meetings throughout the year, and ongoing support to ensure your strategies remain on track.
2. Investment Management:
- Assets Under Management (AUM) Fee: Similar to the monthly planning fee, the AUM fee applies to the investments we manage on your behalf. This is only required if you want us to open the account and make the trades and reallocations for you. We give you investment advice as part of Financial Planning regardless of if you’d rather manage them yourself. This is part of our holistic approach to planning.
How Do Fee-Only Financial Planners Work?
Now that you understand the benefits of fee-only financial planning, here’s how the process works and what you can expect when working with us.
Explaining Different Fee Structures
We know financial jargon can be overwhelming, so let’s keep things simple.
As we’ve shown above, fee-only financial planners can charge in various ways but our approach combines the best of upfront payments and ongoing subscriptions. As a result, this ensures you receive comprehensive support while minimizing conflicts of interest.
Services Offered
At 1Up, we offer a range of services tailored specifically to your specific needs as a content creator and business owner.
Our comprehensive financial planning process covers:
- Retirement planning,
- Cash flow management,
- Tax planning,
- Investment strategies,
- Risk management (i.e. life, health, & disability insurance),
- Estate planning, and more.
We take a holistic approach, through considering both your short-term goals and long-term aspirations. Then, most importantly, aligning how you actually use your money to reach them. If you have any burning issues, we take care of those first.
When it comes to investment management, we handle the nitty-gritty details that can be difficult to get right. We structure portfolios specifically to your time horizon, goals, and risk tolerance. Then, we regularly review and rebalance your portfolio to keep it on track as the market changes.
Why Choose 1Up as Your Fee-Only Financial Planner?
We're one-of-a-kind and so is every client
We get what you do.
In fact, we have clients who have been turned away by traditional financial advisors because they didn’t understand content creation.
If you can’t tell yet, we love the intricacies of the creator industry. That’s why we decided to make it our specialty.
Even if it doesn’t seem so initially, it makes a world of difference to you. Instead of wasting time explaining your profession or justifying your income streams, we can hit the ground running.
We speak your language and, as a result, provide you personalized financial strategies tailored to your journey.
Holistic Financial Planning
Content creators have unique financial aspirations. You don’t just want to survive; you want to thrive.
That’s why the strategies we design match both your short-term needs and your long-term vision to your capital. Whether you’re looking to lower your taxes, save a retirement nest egg, optimize cash flow, or protect your assets, we’ve got you covered.
Lifelong Relationship Building
At 1Up, we believe in building lifelong relationships with our clients.
We don’t just provide a one-size-fits-all solution and ghost you. Being with you for the long haul and accompanying you through your financial journey is paramount to us. Especially as your goals evolve and your content creation empire expands.
We’re your trusted companion, ensuring financial security and peace of mind every step of the way.
Getting Started: Free Financial Strategy Guide
Ready to take control of your financial future?
The best way to start is to check out our FREE Financial Strategy Guide and see how we can help you level up your financial game.
For other ways to get to know 1Up, follow us on socials. If you have any questions along the way, feel free to reach out. We’re here to support you!
Let’s unlock your financial potential together and create a solid foundation for your content creation empire. Game on!
