We encourage all of our clients to utilize our financial planning services as there is much more to financial planning than just investment returns. We stress-test your baseline financial plan under thousands of different scenarios to be sure you are comfortable with the potential outcomes. Knowledge is the key to making sound financial decisions, and that’s why there is no substitute for an organized, comprehensive financial plan.
Step #1 Data Gathering
During this initial stage, we collect various documents and statements to be incorporated within your financial plan. We also gather information pertaining to your specific goals and objectives.
Step #2 Plan Preparation
Once we have all of the necessary statements and data, we input your information into our financial planning software. From there, we prepare your preliminary plan and corresponding projections. Finally, our team brainstorms on ways for you to improve your financial situation, and create actionable recommendations to help you meet your goals and objectives.
Step #3 Plan Presentation
We present to you the preliminary plan, the associated projections, and our recommendations. We encourage you to review and study the plan before making any final decisions. Once all of your questions have been answered and the plan is adjusted to accurately reflect your preferences, goals, and objectives, we will create a “To Do” list. This list will outline all of the recommended changes, the person responsible for completing each item, as well as estimated completion dates for each item. This is a great way to stay organized and accountable.
Step #4 Plan Implementation
At this stage, changes across all levels of your financial situation in accordance with the “To Do” list are initiated. We are here to help, and will assist you with your plan implementation to the degree that you choose. We encourage clients to utilize our expertise and experience as much as possible throughout the implementation process.
Step #5 Ongoing Monitoring and Maintenance
Once the implementation is complete, we continually monitor your plan to determine if you are on track with your goals and objectives. If you have significant life changes, we will update your financial plan to reflect those changes and provide you with adjusted recommendations to meet your new goals and objectives.
The financial planning portion of our Level III Wealth Advisory service typically involves four to five separate face to face meetings, and takes approximately three to six months to complete steps #1 through #4 outlined above.