Our 6 Step Comprehensive Financial Planning Process

Step 1: Establishing the Goals and Relationships

The purpose of this initial meeting is to get know each other, discuss your financial needs and goals.Also, during the first meeting we cover the following: the services provided and compensation structure; identifying planner and client responsibilities; defining or limiting the scope of the engagement; and determining the timeframe of the engagement.

Step 2: Gather the Relevant Data

Our next step is to gather relevant information about your assets, liabilities, wills, trusts, insurance policies, and other relevant information. Careful and thorough data collection will ensure a solid foundation of the overall financial plan.

Step 3: Analyze the Information

We will carefully review the information that you have provided, and it is very likely that we would need to collect additional financial information. Then, we will analyze your information to assess your current situation and determine what you have to do to achieve your goals. In general, this will include analyzing your assets, liabilities and cash flow, current insurance coverage, investments, or tax strategies.

Step 4: Develop the Plan

This meeting allows us to share with you our observations about your current financial health. It is through this careful analysis that we help you identify both the strengths and weakness of your financial picture, as well as a careful analysis of your current portfolio.

Step 5: Implementation of the Recommendations

Now it is time to put your plan to work. This step is the most difficult step in financial planning for many people. Though the plan is developed, it takes discipline to put it into action.

Step 6: Monitoring and Review

Once the plan has been designed and implemented, the final step is the ongoing monitoring of the plan’s performance. Monitoring the plan on a regular basis allows us to adjust to unavoidable shifts in the market, as well as respond to changes in your personal life, work, family, health, changes in income needs, or unexpected life events.