Domain Money is a paid financial advice platform that connects users with certified financial planners (CFPs) for financial planning sessions. It’s not cheap, but it may be good value for people who want help understanding their financial situation and making long-term plans for future savings and investments.
of domain money The team consists of 4 CFPs. Three plans are available, ranging from a single 90-minute session to a six-month comprehensive financial review. We offer a 100% satisfaction guarantee, so if our service doesn’t meet your expectations, you may be eligible for a refund.
As a fee-only financial planning service, we like Domain Money better than competing financial advisors that charge a percentage of assets under management (AUM). However, this pricing model is a bit expensive for many people, especially when compared to some other financial planning options.
- Fee-only financial planning with no long-term contracts or AUM fees
- Choose from three plans ranging from $2,500 to $7,500
- Domain Money offers great value for some wealthy households, but is not ideal for everyone
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What is Domain Money?
Domain Money is a paid financial planning service that focuses on a variety of goals and offers several plans to help customers improve their finances.
Founded in 2021, the relatively small team is based in New York City. Planning begins with a complete review of your existing financial accounts, including cash and investments. Your advisor will create a customized plan for your money, including a review of what’s working and specific actions you should take to reach your goals.
The team behind Domain Money has worked with leading financial firms including Goldman Sachs’ Marcus, SoFi, and Clarity Money. It is backed by major venture capital firms and investors, including Salesforce’s Marc Benioff and Ashton Kutcher.
What does it offer?
Domain Money offers three paid packages. Before committing to a paid plan, you can start with a free implementation strategy session to determine if Domain Money is right for you.
1 page plan
Domain Money’s lowest cost service is the One Page Plan, which requires a one-time flat fee of $2,500. With the One Page plan, you start with a 30-minute introductory session. Your advisor will then spend a few weeks reviewing everything, and then a 90-minute follow-up planning session to review your results and long-term plans.
One Page Plans primarily focus on saving, spending, and organizing your finances. The plan includes a review of your net worth, cash flow, current expenses, a revised spending plan, an analysis of your current investments, and goal-based planning. Finally, create a to-do list of simple actions to achieve your financial goals.
strategic planning
Strategic Plan is a mid-tier product, priced at $4,500. In this plan, you and your advisor will focus on up to three areas of your finances where you need help. The most common areas are cash flow, ability to buy a home, and retirement. However, you can choose the one that is most relevant to your financial goals.
Customers who choose this plan receive two meetings with a financial advisor, plus one month of unlimited phone and email support. Similar to the One Page Plan, you’ll see a report that includes your net worth, cash flow, expenses, investment reviews, and a goal-based plan with specific actions to follow.
comprehensive plan
The comprehensive plan costs $7,500 and includes six months of working with a dedicated financial advisor. This included four meetings with him and a detailed review of his entire financial situation. Areas of focus include goal setting, cash flow analysis, debt management, investing, tax planning, real estate, education savings, retirement planning, insurance, estate planning, and more.
This detailed plan includes basically everything you get in the lower cost plans. After six months of detailed planning and actionable steps, you can confidently reach your financial goals.
Are there any fees?
Domain Money’s fees are completely transparent. Although it’s expensive, there’s no question about what you pay for, and there are no upsells beyond the three plans.
- 1 page plan: $2,500
- strategic planning: $4,500
- comprehensive plan: $7,500
I like that there are no AUM fees and no pressure to transfer your investments to your Domain Money account. However, he charges $2,500 for a 90-minute planning session, and even more for long-term plans.
How does Domain Money compare?
Facet Wealth is a financial advisor and investment service rolled into one, offering a hybrid of full-service financial advice and robo-advice for your investment portfolio. This is a subscription service that costs between $1,200 and $6,000 per year. $500 a month is a lot of change. Unlike Domain Money’s fixed-term plans, your relationship with Facet Wealth lasts as long as you wish to continue using the service.
Additionally, another hybrid robo-advisor with a human financial advice component will also emerge. The fee is his 0.80% of assets under management and the minimum amount to start is his $100,000. You will also pay an additional annual fee to your advisor.
Check out our full Facet Wealth review and Farther review to learn more about each service and whether they are a better fit for your needs.
How do I open an account?
Fill out the form to open an account and book your free strategy session. First, enter your contact information and basic financial information. You can then choose a suitable time for your 30-minute call. As of this writing, I have been waiting about two weeks to get time to chat with an advisor.
Is it safe and secure?
Domain Money doesn’t control your funds, so you can think of it as safe and secure. The advisor is a trusted CFP expert who will provide you with unbiased financial advice to the best of his ability. There is no AUM model, so you can trust that your advisor is working with your best interests in mind.
How do I contact Domain Money?
New clients begin by filling out an online form to schedule their first meeting. Once you are an active customer, you can contact your advisor by phone or email.
Customer service is available via email. The contact address is support@domainmoney.com. Domain Money’s phone number is 646-970-6926.
Why should you trust me?
I’m a financial writer with over 10 years of experience writing about money online. I have two degrees in finance and spent the majority of my MBA program in investing. I have interviewed and reviewed many financial advisors. As a result, we can now give you an informed opinion on Domain Money and other financial advice services to help you narrow down the options that best suit your budget and financial needs.
Who is Domain Money for and is it worth it?
Domain Money is ideal for individuals and families with stable incomes who want to improve their financial situation.
If you have a lot of debt or don’t have enough income to reasonably pay at least $2,500 for financial advice, you may want to look for a lower-cost service.
Domain money features
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