The Value of a BKFi Relationship

Brooklyn FI has completely revolutionized financial planning. By providing us with a financial plan completely tailored to our lifestyle and our needs, we have the confidence that we can meet our goals and do it in a way that works for us! Also, their podcast is fire. Thanks, BKFI!

- Sharrifah and Paige, Denver, Colorado

Despite the dramatic ups and downs of my company's stock post-IPO, I'm calm and grateful knowing we've built a trading plan that will support our big-picture financial goals.

- Jackson and Holly, Brooklyn, New York

I found my way to BKFI during an extremely stressful and difficult time both financially and personally. (And of course, those two are linked.) I had both urgent financial issues to triage and was also at a crossroads for many life decisions. I also had a lot of "maturing" I needed to do in terms of how I handled my finances and I was extremely resistant to change. From my very first conversation with my planner and every conversation since, I've experienced an unbelievable level of support, expertise, and guidance. We immediately came up with a plan to address the most pressing issues while also looking ahead to the kind of life I wanted to build - something I had never stopped to ask myself. I didn't expect financial planning to be such a personal, emotional journey, and I could not be more thankful to be in the hands of BKFI. I now not only have a plan in place for long-term financial freedom but I also have ongoing guidance & support from people I trust, which is invaluable.

- Jenny, Brooklyn, New York

All testimonials and/or endorsements have been provided by real current and/or former clients. No current or former client was compensated, directly or indirectly, for providing these statements. Brooklyn FI, LLC gained each client's permission to publish their testimonial/endorsement.

 

What Makes BKFi Unique?

  • We work with clients all over the country - geography is not a limiting factor to getting great financial advice. 

  • We’re a 100% remote firm, our team members know intimately what it’s like to be a modern employee. We have expertise in managing a nomadic lifestyle because some of us live that way. This is especially helpful when it comes to taxes.

  • You’ll have a dedicated financial planner, supported by a skilled team. While we have a robust team of financial planners, investment specialists, CPAs, and client service specialists, you will have one relationship manager who you will build an intimate relationship with - a relationship of trust and transparency. 

  • We’re female-founded and the diversity of the BKFi team is an anomaly in the financial industry. 

  • We work with all types of folks and we welcome all lifestyles. Whether you’re a married couple or two folks living together, we can help couples navigate the best way to manage finances together. 

  • We’re passionate about our tech stack and our seamless client experience. Our clients are some of the best UI and UX professionals in the world and we aim to exceed their expectations. 

  • Complexity is our specialty. We’re experienced with the volatility of the stock market, but we’re also experienced with the volatility of modern life. Whether you’re a high earner for the first time, experiencing a liquidity event, having your first child, buying your first home, buying your first rental property, we’ve seen it all. 

  • We’re familiar with the complexities surrounding state taxes and vesting for your equity compensation. We’re especially well-versed in New York and California law.

 
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Frequently Asked Questions

  • It really depends. For some clients with complex tax situations or equity compensation, we’re able to save thousands of dollars in taxes in the first year of working together through smart tax planning. For other clients, it can take time to see the compounding benefits of good financial habits. There have been countless studies about the value of having a financial advisor and we think that our unique offering of advice can lead to a dramatic increase in your long-term wealth building. Some examples: setting up automatic savings into retirement accounts, helping you make a home purchase decision, saving for your child’s future education and paying less in taxes along the way,

  • Our true value comes from the years of experience in complicated equity compensation situations. Unfortunately, the tax code surrounding equity compensation is so complicated that most accountants don’t touch it. We end up amending roughly a third of previously filed tax returns for our clients because of missing or incorrect information when it comes to stock options. And most of the time, it’s in the client’s favor! It’s not that these accountants are bad accountants (most accountants are actually wonderful people who got into accounting to help people), it’s that they don’t have the deep relationship with their clients that is required when it comes to tracking cost basis and other quirks of stock options. If you’re paying just a few hundred dollars for a tax return, you’re not getting the level of service and expertise required to handle your equity compensation. We add tremendous value by utilizing advanced strategies when it comes to Alternative Minimum Tax (itemizing deductions, minimum tax credit carryforward, adjusting cost basis, artificially generating income to increase AMT budget, etc.). Oh and by the way, New York and California are especially nasty so if you’re in one of those states and you’ve got stock options, it will likely cost you more NOT to hire us :).

  • We hope to provide immense value to all of our clients. We’ll chat for fifteen minutes to see if we’re a good fit. We might be a little expensive if you’re only looking to confirm what you already know but we’re pretty good at finding ways to add tons of value to our client’s financial lives. We expect all of our clients to have an “Ah-ha!” moment in the first year of working with us.

  • This one is tricky because all of our financial planners are extremely knowledgeable about all aspects of financial planning and we aren’t in the habit of turning folks away who we can really help. We’ve done complex tax plans related to student loans, cross-border investments, advised executives on their equity compensation, and so much more. Is there a hard and fast minimum? No, but generally we can provide value to households who have either at least $200,000 in annual income AND/OR $200,000 of liquid assets (or potential assets as part of a planned IPO, acquisition, or other liquidity event through their employer).

  • In short: No. We do not offer hourly or project-based consulting. It’s listed in our financial planning contract as an option because occasionally we do offer pro-bono financial planning for families in need who are unable to pay our fees. If you have a very specific issue such as student loan debt or an IPO at your company, we believe that you will get a LOT of value out of our comprehensive planning and tax services.