STEP 1: Introductory Meeting
The purpose of this meeting is to get to know each other. We want to learn, in general terms, about your main financial goals and priorities, what you have already done to progress towards those goals, and what you are looking for in an advisor. From there we will talk about how we can help you, explain the services we provide, and what our costs will be so you can decide if we are a good fit for your needs.
STEP 2: Discovery Meeting
This meeting forms the basis of the financial plan. You and your advisor will discuss in detail your current financial situation as well as gather any related documents. These could include statements, insurance policies, social security estimates and any other pertinent information. Together we will work to further define and quantify your goals. We will also discuss your comfort level when it comes to taking financial risks. You cannot overwhelm us with documents or information. The better we are able to understand you and your family, the better we will be able to meet your needs.
STEP 3: Planning Phase
Your advisor will take your priorities and finances into account in developing a plan. Together we will review the course of action, assumptions and pros and cons associated with your plan. Our goal is not to make decisions for you, but to provide you with the information and analysis so you can make informed decisions. Often times the planning can be discussed and reviewed in one meeting, but sometimes it can take longer. We do not want to rush through this, we want to make sure we take the time needed to consider multiple options and make sure you are comfortable with the strategy.
STEP 4: Implementation
Here we review the plan before we put the plan into motion, addressing any questions and concerns that you may have. We review action steps from the financial plan and discuss how they will be carried out. Some, like the investment portion, we will take care of. Other action steps may need the assistance of other professionals like attorneys and CPAs.
STEP 5: Monitor & Review
We like to meet with our clients frequently, once per quarter, to monitor your progress and make sure you’re staying on track. As life happens, and your financial situation and goals evolve, your financial plan should change as well. These quarterly meetings are a great opportunity to hear from you about those changes. During these meetings we will make recommendations for any necessary adjustments to the financial plan.