Planning Process
Our planning process
generally flows like
this:
- Mutual
interview. We
start with a
friendly, mutual
interview. We
ask a lot of
questions to
understand what’s
important to you,
your background,
values, goals and
concerns. And we
take whatever time
is necessary to answer
any questions on
your mind. By the
end of our visit,
both parties have
a good feel for whether
or not we can proceed
with confidence into
a working relationship.
If we decide to work
together, we’ll
sign a planning/consulting
agreement detailing
the scope of the
engagement, responsibilities,
estimated time involved, and fee. - Collect financial documents. Your financial documents are collected for review and analysis. You can provide either originals or copies if you prefer. All original documents are returned at our follow-up meeting. And, of course, all personal information is kept strictly confidential.
- Analyze and develop recommendations. Your financial position is analyzed for how well it squares up with your stated needs and goals. Specific recommendations and strategies are developed.
- Present recommendations and/or plan. Unlike many advisors who simply generate a thick, “canned” document at this stage, we make this an interactive process. This generally means we’ll walk through initial findings together and conduct “what if” analyses on-the-spot as needed. A written plan is provided only after we’ve agreed together on the most appropriate course of action for you at this time.
- Implement recommendations. Financial planning has value only if you implement the recommendations. We will implement for you if that’s been included in the scope of the planning engagement (typical), including coordination with other professionals such as attorneys and CPAs. Any such services provided by attorneys or CPAs would be billed to you separately, of course.
- Monitor and update. Periodic review is important to make sure that you’re still tracking with your plan or to take corrective action if needed. Changes in your personal circumstances or tax laws should also be taken into consideration.