A strong planning process is the best way to create a financial security plan. It is crucial to create a financial plan that protects your needs now, and that plans for the future, in a tax efficient manner. It is our goal to assist you to build a solid financial structure that will stand the test of time and that will grow and build wealth for you and your family.
Our process for financial planning is based upon the guidelines established by the Certified Financial Planning Board of Standards. We use the following steps in working with clients to create and manage financial plans.
Step 1: Setting Goals With The Client - This step, which is usually performed in conjunction with Step 2, is meant to identify where the client wants to end up in terms of his or her financial goals and retirement lifestyle.
Step 2: Gathering Relevant Information On The Client – This step includes the qualitative and quantitative aspects of the client’s current financial and relevant non-financial situation.
Step 3: Analyzing The Information – The information gathered is analyzed so that the client’s situation is properly understood. This includes determining whether there are sufficient resources to reach the client’s goals and what those resources are.
Step 4: Constructing A Financial Plan – Based on the understanding of what the client wants in the future and his or her current financial status, a roadmap to the client goals is drawn up to make sure that the goals are realistic and achievable.
Step 5: Implementing The Strategies In The Plan – Guided by the agreed upon financial plan, the strategies and steps outlined in the plan are implemented using the resources that have been allocated for that purpose.
Step 6: Monitoring Implementation And Reviewing The Plan - The implementation process should be closely monitored by the client, and the financial planner, to ensure that the plan stays in alignment with the client’s goals. Periodic reviews should be undertaken on a regular schedule to check for any misalignments or deviations from the plan, or changes in the client’s situation. If there is any significant change to the client’s situation, the strategies and goals in the financial plan should be revised accordingly.