Financial Planning

Generally, the financial planning process consists of six steps. Each of these steps in the process is a key piece of establishing the foundation for a thorough and comprehensive financial and estate plan:

  1. Goal Identification – Identify your specific short and long term goals, discuss your values and beliefs
  2. Data Gathering – Collect detailed information on your current cash flow, assets, investments, liabilities, and other documents specific to your personal financial situation
  3. Analysis – Determine if you can achieve your goals based on current assets, time horizons, expected future income sources, tax situation and other factors
  4. Solution Development – Identify the actions that you should take to have the greatest chance of accomplishing your goals
  5. Plan Presentation– Including possible implementation strategies that may enable your to achieve your goals (Separate from the financial plan and our role as a financial planner, we may recommend the purchase of specific investment or insurance products or accounts. These product recommendations are not part of the financial plan and you are under no obligation to follow them)
  6. Review – Provide periodic updates as needed on the progress in achieving goals. Incorporate changes in the client's situation, resources, and goals

Each situation is different, but most people find that the most efficient approach to gathering the data to begin the planning process is to allow me to review the documents, statements, tax returns, policies and personal financial details. With this information, we can answer the majority of the detailed questions we need to build a base for your financial plan.

The proprietary document checklist (link to document) provides a list of the documents that we should consider in the development of your plan. All of the items may not be relevant to your personal situation.

This allows us to make the most effective use of our meeting time. We can spend our time together discussing what you want to accomplish through the planning process….your goals, objectives, dreams, questions, and concerns.