Content Content
“Get to Know You” Meeting
Planner Actions – Explains the nature of financial planning services offered; reviews engagement documents and discusses relationship to other client advisors if necessary.
Client Actions – Outlines family objectives and goals. Decides to proceed by signing engagement agreements
Data Gathering
Planner Actions – Provides with a checklist of required documents and forms for providing relevant data. Compiles data from client.
Client Actions – Gather documents and statements along with completes data gathering forms as best as possible.
Analysis
Planner Actions – Reviews & Analyzes client’s total financial position. Identifies both financial and personal goals, objectives and potential financial short falls. Assesses client’s risk/reward profile and evaluates asset disposition, cash flow and current investments. Reviews risk management, tax managements, estate planning and realism of goals and objectives.
Client Actions – Respond to planner questions and provide additional info if needed.
Plan Formulation
Planner Actions – Develops & Prepares Financial Plan with assistance from other advisors and consultants as required. Reviews alternatives, strategies and investment vehicles. Formulates recommendations to achieve objectives consistent with client resources and attitudes.
Client Actions – Provides feedback to allow planner to fine-tune the plan
Plan Presentation
Planner Actions – Presents Financial Plan with specific implementation recommendations and target completion schedule. A holistic view of your current financial standing and current trajectory for accomplishing objectives is provided.
Client Actions – Digests and Approves Plan with any agreed upon modifications. Engages and authorizes planner to proceed with implementation.
SIX Month Review/Follow-Up Meeting
Planner Actions – Checks progress of plan implementation
Client Actions – Provides feedback to planner and sees what has been accomplished.
Plan Review & Revision
Planner Actions – Notifies Client of need for plan update and conversation. A new year poses a new set of planning objectives to discuss as no two years are identical.
Client Actions – Advises planner to change impacting financial status. Provides updated data and tax returns to aid in the preparation of the updated financial plan.