Our Financial Planning Process
Our Financial Planning Process
Our 8-week financial planning process has the added focus on tax efficient or tax-free distribution strategies and unique investment strategies that help our clients manage investment risk designed to help “eliminate the worry and enjoy the rewards”. A typical eight-week process looks like this:
WEEK 1
Discovery
Identify the client’s needs, goals and issues. Establish the client and planner relationship, identify and agree on responsibilities of each party.
WEEK 2
Information Gathering
- Investment Statements
- Income and expense information
- Wills and other legal documents
- Life, property and casualty, Long-term care, liability, disability and other insurance documents
- Tax returns
- Retirement plan documents and statements
- Pension statements
- Social Security Statements
- Mortgage and other debt statements
WEEK 3
Review
Review information supplied by the client to ensure mutual understanding and agreement among all parties. Re-affirm or re-establish priorities of needs, goals and issues.
WEEK 4
Risk Assessment
Identify potential issues, risks and develop solutions to meet objectives for the client’s immediate focus or issue.
WEEK 5
Implementation
Present findings for the client’s immediate focus or issue. Present strategies to fulfill needs, help achieve goals and address issues. Discuss implementation and monitoring of strategies.
WEEK 6-7
Adjustment
Identify potential issues, risks and develop solutions to meet objectives for the client’s secondary focus or issues. Coordinate with other professionals, i.e. CPA, Attorney, etc.
WEEK 8+
Monitoring
Present findings for the client’s secondary focus or issues. Present strategies to fulfill needs, help achieve goals and address issues. Determine implementation and monitoring of strategies and responsibilities.
This eight-week financial planning process is generally broken down into four 1 to 2-hour meetings held every two to three weeks. The meetings are scheduled ahead of time with a clear agenda that is developed by the planner and the client based on the client’s immediate needs and most pressing issues. The focus areas of each meeting will change, depending on each client’s unique needs.