Also, we will collectively call the minimum and maximum points of a function the extrema of the function. So, relative extrema will refer to the relative minimums and maximums while absolute extrema refer to the absolute minimums and maximums.
Cost. More and more advisors are offering this type of service with a monthly retainer. Often they will charge $500-$2,000 upfront for the initial planning phase and then charge a monthly fee of $50 â $300 per month depending on the complexity of your financial needs.
Elements of a Financial Plan. â¢ Financial goals: A financial plan is based on an individual's or a family's clearly defined financial goals, including funding a college education for the children, buying a larger home, starting a business, retiring on time or leaving a legacy.