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Step 1 – Assemble Important Information
Meeting with you and assembling all critical financial and related information will enable us to understand your financial-life goals, as well as any related financial challenges or obstacles. Careful and thorough gathering of information ensures a solid foundation for your overall financial plan.
Step 2 – Identify & Establish Personal Goals and Risk Tolerance
In this step of the process, we will work together to help crystallize your short and long-term goals. We also review and calibrate your tolerance for risk for investment and other exposures.
Step 3 – Evaluate Current Situation
We will evaluate your current financial situation to identify existing strengths, as well as areas warranting attention. This will help us determine the key focus areas to address, helping mitigate possible threats to you and your family’s financial well-being.
Step 4 – Develop a Comprehensive Plan
The next step of the process is to design a comprehensive financial plan based on your goals and risk tolerance. Depending on your specific needs proposed actions may be warranted relative to estate, retirement, education, charitable, tax-savings, investment insurance and/or your legacy goals. As appropriate, various strategies will be developed and presented to you to help achieve those goals.
Step 5 – *Implement Plan
Your financial plan summarizes your current situation and proposes strategies designed to help you achieve your goals. With your approval, we will help implement agreed upon strategies. In many cases, this is a step-by-step process, addressing the most critical areas of concern first and continuing with less critical – but nevertheless significant – action areas sequentially over time.
*The client is free to implement the plan recommendations with whomever he/she chooses.
Step 6 – *Periodic Ongoing Review
One of the most important elements to the process is ongoing follow-up and periodic reviews. This continuous process allows us to understand changes in your short-term and long-term goals, as well as changes to your financial situation. External events, such as tax law changes or market developments, are of course similarly evaluated in terms of their potential effects on achievement of your goals.
*Periodic reviews or updates require a new agreement and may be subject to additional fees.