We design customized comprehensive financial plans that help you set, priorities and realize your financial goals. Smart management of your money starts with a solid plan. Our Financial Planning Process follows six steps:
1. Agree on how we will be working together.
We start most of our client relationships with a financial plan and may recommend our continuous service to you based on your personal situation. We will discuss each of our responsibilities and expectations for the service you choose.
2. Gather information about your finances and set goals.
A vital part of gauging the success of your plan is having valid information about your current situation and goals. In addition to financial statements, the following worksheets will help us analyze your situation:
Visit our Tools & Resources page for a complete list and more information on the tools we use.
3. Analyze and evaluate your financial status.
We will analyze your current financial status and the likelihood of achieving your goals. During our analysis we will look for improvements and efficiencies such as:
- Use of tax advantaged accounts
- Better ways to manage debt
- Possible tax savings
- Risk management techniques
4. Develop and present recommendations.
This is one of the most powerful steps in the planning process. After we develop preliminary recommendations, we will have a collaborative review session. We start by reviewing our findings, and then make adjustments based on your feedback so that we develop the best strategies for achieving your goals.
Your customized financial plan will provide:
- Action items
- Monitoring schedule
5. Put your financial plan into motion.
Now that we have determined the best strategies for achieving your goals, you can choose to complete the action items on your own or with our assistance.
Some areas of your plan that may require action include:
- Investment strategy
- Tax strategy
- Debt repayment priorities
- Insurance coverage
- Estate documents
- Retirement account contributions/distributions
6. Monitor progress and stay on track.
As you work toward your goals, it is important to monitor your progress. Your personal Plan Monitoring Schedule will outline who monitors what and how often.
Your Schedule will include areas such as:
- Investment allocations
- Investment performance
Depending on the complexity of your situation, you can typically expect to receive your financial plan from us between two weeks and one month from when we receive your information.