Full Financial Planning
Various components of our financial lives, including cash flow management, education planning, funding retirement, tax strategizing, and insurance selection, are more intertwined than we often realize. Each can affect the other greatly. An integrative solution is therefore crucial for long-term success.
We work using a holistic approach for clients ready to take the reins of their full financial pictures. We help optimize the relationships among all of these individual moving parts through a cohesive plan.
Full financial planning is a dynamic and ever-evolving process that requires diligence on the part of the planner/advisor and engagement from the client.
The step-by-step Process:
Step 2 - Preliminary Data Gathering and Estimate
Once you've reached out, we'll send you a link to our secure Financial Fact Finder form, in which you'll tell us a little more about yourself, your current situation, and what you're looking for. This includes both quantitative data (like income, assets, insurance info, whether you have estate planning documents, etc.), as well as qualitative data, such as what you envision your ideal life looking like. Within 3 business days of completing the Financial Fact Finder, you'll receive a written estimate for the proposed scope and timeline of the planning engagement.
Step 3 - the Discovery Meeting
(supplemental Data Gathering)
The Discovery Meeting takes place right after a client decides to move forward with planning work, and is one of the most vital steps of the planning process. It can be either in person or by video call, and usually takes between 1-2 hours. During this meeting, you will be asked additional questions where information provided in the Financial Fact Finder may not have been sufficient to design a thorough plan. Most importantly, it's an opportunity for your financial advisor to hear about what truly drives you and makes you feel fulfilled. This level of conversation is essential to coming up with a plan that really speaks to and motivates each individual client.
Step 4 - Analysis
Your data and goals are sifted against proven strategies to develop the tactics most appropriate for your unique needs. If you are seeking investment advice, you will be asked to complete a short risk tolerance questionnaire as well.
Step 5 - Personal Financial Plan Formulation
Your Personal Financial Plan is developed with your overarching goals kept paramount at every step. Each client's formal 'deliverable' (the hard copy of your Personal Financial Plan) is unique. It will include specific, research-based recommendations and step-by-step Action Items tailored to your overall financial well-being, and may also include supplemental data and projections to illustrate specific scenarios you may have asked about.
Step 6 - The Presentation Meeting and Implementation
During the Presentation Meeting, we sit down together to review your Personal Financial Plan and discuss recommended strategy and implementation options. This provides an open floor for you to ask questions in real time so that you leave feeling comfortable with your plan and confident in its application and viability. It's usually about a 2-hour meeting, allowing plenty of time for Q and A, but it could be shorter or longer depending on the client. To keep your cost low, we do financial planning assuming that clients are the ones to implement their own Action Items, but you may employ us further at the same hourly rate to help with implementation if you wish. When you leave the Presentation Meeting, you now hold your own custom blueprint for financial success designed with your unique goals and driving forces in mind. Our objective is for clients to feel empowered by clear, succinct Action Items so that they feel confident in implementing their own Personal Financial Plan.
Step 7 - Financial Checkups
Periodic meetings to update data and review progress on your Personal Financial Plan are crucial. Together, we schedule these Review Meetings at the frequency you prefer. Financial planning is an ongoing process, not a one-time event. Proper implementation of a financial plan and periodic professional review are both essential to reaching your financial goals. As Sheryl Garrett of the Garrett Planning Network says, "It's like the dentist -- come in twice a year for a checkup, and call me if you're in pain!"
This is your life -- and you're at the helm. Let's plan together for best outcomes!