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 Pre-Planning client process to gather your documents (see Client Portal), the Financial Planning process, followed by the Implementation process. Throughout all of that is our Communication and Security processes to protect your data.
Financial Planning Process
Our motto is to first “Get a G.R.A.S.P. on your Financial Plan.” Then, Execute and Monitor the plan…
We use a 5-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
- Review client data provided
- Discuss client goals, needs, and wants
- Discuss all planner disclosures
- Discuss client and planner relationship and responsibilities
- Planner provides written contract services agreement
Once you receive the contract and view the scope, terms and conditions, and cost, simply electronically sign the contract to begin the Planning process.
- Client links financial accounts to financial planning software
- Planner reviews in detail all data submitted
- Review meeting with planner and client to re-establish goals, needs, wants, and scenarios to be modeled
Uploading your documents per our Document Checklist, answering the on-line questionnaire, and Linking your accounts into our Planning Software are the key requirements before this step can be completed.
- 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
Once the analysis is completed, a draft will be placed in your secure electronic vault for your review prior to our collaborative planning meeting.
At this point, we conduct a “collaborative” planning session with you to review the set of scenarios and the planning software output graphs. Visualizing the projections enables us to select the scenario that is in 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 finalize the written plan with corresponding software output reports
- Planner submits the final plan to client’s secure electronic vault
At this point, the financial planning process is completed and we look at the implementation of the plan.
What can you do to prepare for your first meeting with us? In order to provide a fiduciary service, due diligence is essential. Please see our Client Portal to get our Document Checklist and links to our data questionnaires.
- Execute the Plan
- Monitor your Investments
Once the initial Plan is completed, we conduct on-going review meetings depending on the on-going services you may have selected. See our options for on-going services.
Execution of the plan will depend on the action items in the Plan. We can assist you with a menu of options including account set-up, quarterly reviews on Plan objectives or topic-specific deep dives on College Planning, Retirement Planning, Tax Planning, Estate Planning, “Special Needs” Planning, or other financial areas important to you.
For a business case as to why on-going financial planning is critical and more information on what we offer, please visit On-Going Financial Planning.
Please note that if we are assisting with Tax Planning or Estate Planning, we coordinate with your other professionals, such as your Estate Planning Attorney or your CPA.
Even though we design portfolios for the long-term, it is very important to monitor any changes in your Risk Tolerance, goals, and life changes. Even small changes may impact your asset allocation.
Additionally, we rebalance portfolios once per year to bring the asset allocation back to our design recommendation. We can set up yearly review meetings 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. If there are new recommendations based on your life changes, we will document those.
See our Investment Management Services for on-going services to meet your specific Implementation needs.
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.