The Financial Planning Process

At all ages, and in all income categories, we know it is important to develop a solid financial plan. But how do you know how to get started? As financial planning professionals we can guide you!

We start by examining your current situation
You need to know where you are now to be able to set your future goals

We help you define both your short and long term goals
We will discuss general financial goals as well as your specific ones and the time horizon

Measure your progress
Financial planning is an ongoing process, and we will help you keep on track with your goals by helping to monitor your progress and making alterations in your plans to accommodate developments in your life

There are 6 steps to help you create your financial plan:

Establish the client-planner relationship

In order for a financial plan to be successful we need to work together.  We will explain the services provided and our responsibilities to you the client, including fees, the length of the process and what you should expect.

Gather your data and establish your financial goals

We will talk about your current financial situation and gather any necessary documents. Together, we will define your personal and financial goals, including time frames.  We will also want to discuss your comfort level when it comes to taking financial risks.

Analyze and evaluate your financial status

We will consider all aspects of your situation to determine what is needed to meet your goals.  As your planner we will analyze your assets, liabilities and cash flow, current insurance coverage, investments and tax strategies.

Review your recommendations

We will go over our financial recommendations, explaining the rationale so you can make informed decisions. At this stage, we will also listen to any concerns you may have and revise our recommendations to your concerns if necessary.

Develop and present the plan

We will present financial planning recommendations that address your specific goals. It is important that you the client agree with and are comfortable with these recommendations. If you have concerns will make appropriate changes.

Implement the financial plan recommendations

We may carry out the recommendations or serve as your coach, coordinating the process with you and your other financial professionals.

Monitoring the financial plan recommendations

A financial plan is an ongoing process. Not all actions in the plan need to be done at once and some require time to be resolved. That is why it is important for us to keep in touch and make sure we review the plan and adjust recommendations as needed.