Cambridge Financial & Tax Advisors is a fee-only financial planning firm based in Gahanna, Ohio, founded and operated by Certified Financial Planner Joseph H. Baumann. The firm specializes in providing holistic, personalized financial guidance to individuals and families, covering areas such as cash flow, budgeting, tax planning and preparation, retirement planning, estate planning, and investment strategy. Unlike traditional investment management firms, Cambridge Financial & Tax Advisors does not manage client portfolios directly or have authority to make trades without client approval, nor does it sell insurance or investment products or accept commissions. Instead, the firm operates on an open retainer or project basis, helping clients identify personal goals and obstacles, and recommending low-cost investments like no-load mutual funds primarily held at The Vanguard Group.
Fee Structure
Cambridge Financial & Tax Advisors offers ongoing financial planning through annual retainer agreements:
- Open Retainer (Initial Year) — $3,000 to $20,000, covering comprehensive planning, goal setting, cash flow analysis, investment strategy, tax planning and preparation, retirement planning, and estate planning across multiple initial meetings.
- Open Retainer (Renewal Years) — 40% to 100% of the initial year fee, including at least four meetings per year for tax preparation, tax planning, portfolio rebalancing reviews, and year-end planning.
- Limited Retainer — $1,000 to $2,100, available to established clients seeking to renew at a reduced level of service targeting two to three specific areas with two meetings per year.
- Financial Plan — $1,500 to $3,000 for a one-time comprehensive plan presented in two or three 2-3 hour meetings, including written analysis on net worth, cash flows, taxes, insurance, retirement, estate, and investment choices.
- Financial Checkup — $850 ($750 for family members of current retainer clients) for a one-time two-hour appointment providing a second opinion or overview on a limited set of issues.
- Hourly Consultation — $250 per hour (prorated to 15-minute increments) for services outside established retainer or planning agreements.