Our financial planning process incorporates six steps, as outlined below:
1. Initial meeting/discovery
We begin each relationship with a discovery process that is designed to help us gain a better understanding of your specific needs and objectives. At this initial meeting, we discuss your current financial situation, your specific goals and any challenges you may face as you work toward those goals.
2. Establish goals and gather records
Once we have gained an understanding of your current financial landscape, our next step is to help you articulate your goals and priorities. While some clients come to us with very specific goals in mind, others have a more abstract idea of their objectives. Because our wealth solutions are designed with your specific goals in mind, we strive to help you identify exactly what those goals are.
It is also during this stage that we begin to gather relevant records, account numbers, etc. so that we may begin the process of transferring any necessary accounts.
3. Prepare your comprehensive financial plan
During this step, your wealth advisory team reviews your existing legal documents, insurance policies and portfolio holdings. They identify what is currently working, as well as opportunities for improvement. As your trusted adviser we build a financial plan that is tailored to your current situation and focused on achieving your goals.
4. Present recommendations
At this stage of the planning process, we present our specific recommendations. We discuss with you the potential impact of any changes and how we believe our recommendations will help you achieve your goals.
5. Implement your financial plan
Once we agree upon a course of action, we seamlessly integrate all aspects of the financial plan. As we have already developed an understanding of your objectives, your current situation and your existing accounts, we will likely be able to implement your plan with little input from you.
6. Review, update and monitor the plan
As your needs and objectives change over time, we continuously review, update and monitor your plan. We will meet 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 achieve your objectives.