Our process is our distinction
Comprehensive Financial Planning Process
Our commitment to the financial planning process is a defining characteristic in how we will work with you. Financial planning services may include any one or all of the following:
- Financial Independence
- Estate / Philanthropy
- Business Succession
- Investment
Following a seven step process insures we have the discipline to fully understand your objectives, carefully analyze your situation, establish customized and fully integrated solutions.
Understanding your personal and financial circumstances.
We begin by discussing how we can work together to develop and implement your financial plan. We need to understand your financial situation, but we also want to help you define your goals. We start the process by:
- Discussing your situation
- Establishing a fee
- Securing basic documents
Identifying and Selecting Goals
The more detailed the information we can obtain, the more customized and accurate your personal financial plan can be. We conduct a holistic audit of your current estate, investment and if applicable, business situation. Based on this information, we develop a comprehensive financial model of your current situation, including assets, cash flow, income tax and estate distribution projections. Highlights of this stage include:
- Gathering appropriate financial data
- Discussing and establishing goals
- Discussing attitudes, views and concerns
Analyzing Current and Alternative Courses of Action
We analyze information gathered from the financial condition model to identify gaps and opportunities between your current financial planning and your objectives and risk tolerance. This helps us determine to what level you are meeting your financial goals with your current strategy. This stage focuses on:
- Analyzing and evaluating your current financial status relative to your goals and wishes
- Preparing a preliminary plan
- "Trying-on" ideas and refining recommendations
Developing Recommendations
Based on your input and our analysis, we offer alternative strategies and identify solutions that are an appropriate fit for your personal situation, and most importantly, are consistent with your goals. Our recommendations are documented in a written financial plan including:
- A statement of your objectives and our assumptions
- Observations and recommendations
- Financial models reflecting "before and after" scenarios
- An implementation "executive summary"
Presenting Recommendations
This stage - one of the most important in our process because it is where the financial planning takes shape - includes:
- Presenting a final plan document
- Answering questions
- Establishing an action plan
Implementation
We present the specific recommendations that will help meet your needs, and discuss the pros, cons, risks and costs for each recommended alternative. This helps ensure that you will make an informed decision. Some aspects covered in this stage are:
- Coordinating with your other advisors
- Reviewing and recommending specific solutions necessary to implement the plan
- Assisting you in implementing the plan
Monitoring and Updating
Many factors can impact the viability of your financial plan in the future - a life event, unexpected expenses or income, a change in taxes, etc. We meet with you to check the status of the plan by comparing actual results to initial assumptions to determine if adjustments need to be made. This final stage of the process centers around:
- Analyzing ongoing issues
- Making adjustments as your situation changes
- Keeping your financial plan updated and current
The Financial Planning Process
