Our Process

After nearly twenty years in the business, we have come to the conclusion that comprehensive financial planning takes time. Our Initial Financial Plans take place over the course of four to five meetings, each spaced two weeks apart. Subsequent financial reviews, while just as important, take only about half of that time to complete.

According the Certified Financial Planning Board of Standards, financial planning is defined as follows: “the process of determining whether and how an individual can meet life goals through the proper management of financial resources. Financial planning integrates the financial planning process with the financial planning subject areas.”

The financial planning basic subject areas are:

  • Financial statement preparation and analysis (including cash flow analysis/planning and budgeting)
  • Insurance planning and risk management
  • Employee Benefits planning
  • Investment planning
  • Income tax planning
  • Retirement planning
  • Estate planning

Total Financial Planner Investment: 16 to 20 Hours Year One

Our comprehensive Initial Financial Planning Service includes four meetings over a two month period.  Meetings generally last 90 minutes. Total financial planner investment is typically of 16 to 20 hours, depending on complexity. Does this sound like too much of a commitment? If so, maybe this is not the best season of life for you to delve into a comprehensive plan. But don’t worry, we’ll be here if you change your mind.

Initial Financial Plan

Discover

Meeting 1

 

90 Minutes

 

Begin discovery and data collection.

What are your goals, hopes and dreams?

How do you feel you are doing financially?

What do you think you need to do to get where you want to go?

Are your investments allocated correctly?

Are you maximizing your savings?

Are you living your life financially free from worry?


Telephone and email correspondence in between your first and second  consultation.

Analyze

Meeting 2

 

90 Minutes

 

Complete discovery and data collection.

In this meeting, we analyze and develop a wide scope of possibilities for your Advice meeting.

We determine total net worth, total liabilities, retirement trajectory, investment path, strengths and weaknesses in life, health, disability, and long term care insurance.

We also utilize qualitative and quantitative methods to determine your tolerance for investing in what can be volatile markets. 


Telephone and email correspondence in between your second and third consultation. 

Advice

Meeting 3

 

90 Minutes

 

Determine specific actionable steps that should be taken.

We begin to make specific recommendations in the areas of asset allocation, diversification, college savings plans, retirement, fundamental stewardship, liquidity, and general financial management to include cash flow planning.

This can include which new accounts you should consider opening (IRA, 401k, 529 College Savings Plan, Simplified Employee Pension, etc.) and why.

We also evaluate the amount(s) you should be investing in order to reach your retirement goals.  

 


Telephone and email correspondence in between your third and fourth consultation.

Action

Meeting 4

 

90 Minutes

 

Review final projections, establish income plan for retirement, and review life expectancy.

If we are selected for managing your assets, this is the meeting where we will formalize any investment agreements, open new accounts, transfer funds, etc.

We will also make recommendations regarding disability, life, umbrella, and long term care insurance. Risk management is always an important part of the discussion.


Telephone and email correspondence in between fourth and fifth consultation.