Our financial planning process is rather robust! We think you’ll appreciate the attention to detail and the quality of work as a result of the processes we’ve put in place. First, there is the up-front client process (Pre-Planning), then the financial planning process, followed by the implementation process. Throughout all of that is our communication and security processes to protect your data.
What can you do to prepare for your first meeting with us? In order to provide a fiduciary service, due diligence is essential. We need a lot of your financial data to follow our financial planning process. You can help us help you by gathering as much of your financial data as possible to prepare for that first meeting. We have tried to make the data collection process as simple as possible and we use secure industry-proven software tools. Click on each of the boxes below to get started with the pre-planning process:
If you have any questions on how to get started or what’s needed to proceed, please Contact Us. Once we have an idea of what you’re looking for, we can proceed to a “Get Acquainted” meeting and jointly determine how to proceed with the Financial Planning Process…
Financial Planning Process
Key Components to our Financial Planning Process
We use a 7-step financial planning process as described by the diagram above and the narrative below. The process is very professional, extensive and client friendly. These are the major steps and highlights of each step:
- Greet – No-obligation “Get Acquainted” meeting
- Client brings summary of financial data
- Discuss client goals, needs, and wants
- Discuss all planner disclosures
- Discuss client and planner relationship and responsibilities
- Planner provides written proposal
- Client decides to move forward with proposal
- Client uploads all required financial data to secure electronic file server
- Client links financial accounts to financial planning software
- Planner reviews all data submitted
- Review meeting with planner and client to re-establish goals, needs, wants, and scenarios to be modeled
- Planner analyzes all data submitted to determine current financial status
- Planner develops the scenarios to be modeled
- Prepare draft report of current financial situation and potential scenarios
At this point, we conduct a “collaborative” planning session the client to review the set of scenarios and the planning software output graphs. Visualizing the projections enables us to select the scenario that is your best interest. This is most clients’ favorite part of the process as it allows them to ‘see’ results before a recommendation is made.
- Planner develops a recommended scenario and corresponding set of actions
- Planner will develop a summary written plan with corresponding software output reports
- Planner submits the final plan to client’s secure electronic vault
- Client can decide if they can carry out the recommendations themselves, or with further assistance to Execute and Monitor…
At this point, the financial planning process is completed and we look at the implementation of the plan.
Execution of the plan will be done by either the Planner, the Client, or alternative source of the clients’ choosing. Each action item needs to be followed through to completion. If we are assisting with the execution, we can help coordinate efforts with other professionals as required by the financial plan. For example, your Estate Planning Attorney or your CPA.
If we are asked to execute the plan, there will be quarterly review meetings of the action plans, either in person, via web chat, or email. We will agree on a regular meeting plan to review the action items, keeping you on track to meet your goals.
Communication and Security
Throughout the entire process, we are dedicated to helping you achieve your planning and investing goals by providing personal attention to your specific needs. We communicate through every step of the process and ask a lot of questions! We do not plan for any strategy that you don’t understand or beyond your risk tolerance levels. Everything you share with us is confidential.
Security is more important today than ever. We use a secure and encrypted electronic file folder throughout the entire planning process to store all client financial documents. You will receive a log-in ID and passcode so that you can upload your documents directly from home to the server for maximum security. Using this system, your financial data does not travel from your hands to ours to an assistant to a computer and then to a database system.
Our financial planning software is not only highly capable but is also highly secure and encrypted. Your planner, a compliance manager, and you are the only ones that have access to the data. We do not ask for social security numbers, account numbers, or drivers license numbers.
We only store your financial data on a secure and encrypted Egnyte file server, not on our personal laptops.