Personal Financial Planning Process
The process involves gathering relevant financial information, setting goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans. We will work closely with you to understand your circumstances and customize a plan to your unique needs. Our primary focus will be to coordinate areas of your financial plan that will give you the best possibility of achieving the highest level of outcome for all concerned – emotionally and financially.
- Initial Interview: We will meet to discuss how our services could best impact your personal, family and business goals. At this meeting, we will discuss which of our services are right for you with an estimate cost of our services. If we mutually determine we have a good fit we will sign a Client Consulting Service Agreement and begin work on your financial plan.
- Data Gathering: As a first step towards working together, we spend time with you in a fact-finding interview. This conversation provides us with sufficient information to begin to conduct an accurate analysis. We will discover more specifics about your goals and values, as well as your current financial situation.
- Analyze and Evaluate: We evaluate the data collected to gain a better understanding of your situation and your unique requirements in order to create your Financial Plan. If you are unable to meet your goals, then current problem areas will be identified and recommendations made to improve your chances of achieving your goals.
- Recommending a Plan: After we analyze your financial goals and data, we make recommendations based on our findings with plan tailored specifically your financial situation. We will make sure you fully understand all components of the plan and to listen to any concerns you may have. Various options will be presented so you can decide on the approach that you’re comfortable with.
- Implementing the Plan: This step is absolutely crucial to ensure that the recommendations are put into action so you can commence your journey to achieving financial independence. You will have a solid understanding of what needs to be done to maximize income and assets in order to have the greatest impact on your desires and goals. Your initial financial plan will act as the implementation guide, as well as a benchmark for monitoring the project as we move forward.
- Monitor & Update: Because your needs and objectives change over time, we continuously review, update and monitor your plan. We touch base with you on a regular basis to discuss any changes that may impact your plan, and we proactively make changes to help ensure your plan continues to help you pursue your objectives. Financial planning is an ongoing process, not a one-time event.