The Eight Deliverables That Define a Real Service

1. Multi-year Roth conversion plan. The 5-to-12-year window between retirement and RMDs is the cheapest tax planning opportunity most retirees ever have. A real service maps the conversion plan year by year — bracket-fill targets, IRMAA-aware sizing, sequencing relative to Social Security claiming. Most households leave $200K–$500K of lifetime tax savings on the table here.

2. Social Security claiming analysis. Not the SSA online calculator's output, but a real breakeven analysis with survivor modeling for both spouses. The decision is worth $200K–$400K for typical married couples.

3. Withdrawal sequencing plan. Which account first, in what size, in what year. Adjusted for bracket-fill, IRMAA tier, and ACA subsidies if pre-65. The default of “draw proportionally” produces a worse outcome by 10–20% over the lifetime tax bill.

4. Healthcare bridge plan. For pre-65 retirees, modified AGI management to qualify for ACA subsidies is one of the highest-ROI planning activities. An ETF migration plan for taxable mutual funds is often part of this. Real services include explicit healthcare strategy; many advisors leave it to the client.

5. IRMAA tier projection. Modified AGI projection for the post-65 years, identifying tier crossings before they happen and adjusting the plan to avoid them where the cost-benefit favors it. A single bad December can cost $1,500–$5,000 per person per year.

6. Tax projection to age 90. Year-by-year tax curve including RMDs, Social Security, and survivor- spouse compression. The output identifies which years are most expensive and which are cheapest, so conversions and realizations happen at the optimal time.

7. Estate planning coordination. Beneficiary designations on retirement accounts, life insurance, and bank accounts override wills. They need review. Trust documents need review. Step-up in basis decisions get coordinated with the lifetime plan.

8. Annual review and update process. Real services produce a working plan that updates annually — bracket changes, balance changes, life events, legislative changes. A one-time document that doesn't update isn't a service; it's a deliverable.

Service Models in the Market

Flat-fee comprehensive planning. Annual fee ($5K–$15K) for ongoing planning that includes all eight deliverables above. Common at fee-only RIA boutiques. The service scales by household complexity, not portfolio size.

AUM-based wealth management. 0.7%–1.25% of portfolio per year. The most common model. Often bundles portfolio management with planning. Strong on portfolio, weaker on tax planning. The fee scales with portfolio size, which is structurally misaligned for retirement-stage clients.

Hourly project work. $250–$500/hour. Best for one-time questions, second opinions, or households who want to handle implementation themselves. Garrett Planning Network is the standard reference.

Subscription model. Monthly fee ($150– $500/month). Common at XY Planning Network firms. Includes ongoing planning conversations. Often pairs with a separate hourly fee for tax projection work.

Robo-advisor with planning. Vanguard Personal Advisor Services, Schwab Intelligent Portfolios Premium, Betterment Premium. Mass-market option. Adequate for portfolio management; usually limited on the eight planning deliverables above.

How to Compare Apples to Apples

When comparing services, ask each candidate the same five questions:

1. Show me an example multi-year tax projection for a similar household.
2. What does your Roth conversion methodology look like?
3. How do you handle Social Security claiming analysis?
4. What's included in the annual fee, and what's charged separately?
5. How often do we review and update the plan?

The answers reveal which service is portfolio-with- retirement-branding and which is real retirement planning.

Real Scenario: What Distinguishes the Two

Two firms quote a $1.8M pre-retiree the same headline fee. Firm A delivers an annual investment review, a portfolio reallocation, quarterly check-ins, and a one-time retirement projection. Firm B delivers all of that plus a 25-year tax projection, a year-by-year Roth conversion plan, IRMAA-aware withdrawal sequencing, pre-Medicare healthcare bridge management, and an annual update to the entire plan as numbers change.

The fees look identical on the engagement letter. The lifetime tax outcome between the two services usually differs by $200K–$400K for this household.

Common Mistakes

• Hiring a “retirement planner” whose actual service is portfolio management with annual rebalancing.
• Paying for a one-time retirement plan document and then receiving no ongoing tax/withdrawal coordination.
• Missing healthcare bridge planning if retiring before 65.
• Skipping survivor planning in the joint years.
• Comparing fees without comparing scope.

The Bottom Line

The best retirement planning service for a pre-retiree isn't the one with the most assets under management or the one bundled with the bank. It's the one that actually delivers the eight items above, year over year, as an integrated plan.

Most generalist firms offer some. Few offer all of them as coordinated work.