1. Let's Get to Know Each Other
First, we want to define your goals. We’ll ask questions and request specific financial documents to help us formulate a comprehensive understanding of your financial needs and life goals.
2. Organize Financial Data
Providing detailed information allows us to help you with organization, bringing order to your financial life and helping you prioritize and follow through on financial commitments. Relevant information includes risk tolerance, time frame, goals, current savings, current risk management, family dynamics, children and their ages, experience with financial planners, and hobbies.
3. Evaluate Financial Status
Once we have the necessary data in front of us, we’ll assesses your current situation and determine what steps must be taken to move forward with developing a financial plan. Depending on your needs, this assessment could include analyzing assets, liabilities, current cash flow, future cash flow, insurance coverages, tax strategies, estate planning, and investment allocations. (Asset Allocation does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk.)
4. Time to See Your Possibilities
Once goals and resources have been defined and analyzed, we'll provide you a clear picture as to whether your plan will take you to your goals. Perhaps you need to increase your savings rate per month, adjust your asset allocation, or take another course of action. Whatever is chosen, we’ll educate you along the way, making recommendations as needed. Our goal is to help you thoroughly understand your plan and the risks involved.
5. Monitor and Continually Adjust
Lastly, we’ll monitor and continually adjust the plan. A financial plan will evolve over time and change according to life events. Marriages, divorces, career changes, children, tax law changes, inflation, stock market fluctuations, recessions and more all require newer perspectives on how to help manage your finances in keeping with your goals.