To develop a financial plan and investment strategy personalized to your individual needs and preferences, we follow the comprehensive, six-step process as developed by the CFP Board of Standards. It is designed to help us best understand who you are and what you expect, so that we can build a unique strategy to see you through the saving, growth and, ultimately, the careful distribution of your wealth for your retirement.
Establish Goals
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The purpose of establishing goals (or the purpose of planning itself) is to form the foundation - to begin the financial journey with the clarification of a financial destination. Too many people save and invest money with no specific goal in mind. The purpose of money must follow the purpose of life, not the other way around.
Most people who have built wealth didn’t do it overnight. They set financial goals and push themselves to reach them. You need to identify your specific financial goals. A good financial goal should be SMART - i.e. Specific, Measurable, Action-oriented, Realistic and Time-based.
Gather & Analyze Data
Gathering data can be done together by hand or with online tools. By examining your cash flow, net worth, insurance and other financial areas, you can discuss your goals, objectives, risk tolerance and time frame.
Analysis will show whether your goals and objectives are realistic and can be met under current circumstances. It will also help determine whether you will need to consult with other specialists such as an Estate and Trust Advisor, a CPA or an Insurance Consultant.
Develop & Present the Plan
We offer financial planning recommendations that address your goals, based on the information you provided. We review the recommendations with you and help you understand them, so that you can make informed decisions. We carefully listen to your questions and concerns and revise our recommendations, as appropriate. During the presentation, we can discuss many different variations within the plan to increase the probability of success or meet other wishes you may have in mind.
Implement & Monitor the Plan
It's called "financial planning" for a reason: Plans evolve and change just like life. Once the plan is created, it's essentially a piece of history. This is why the plan needs to be monitored and tweaked from time to time. Think of what can change in your life such as marriage, the birth of a child, career changes and more. These events all require new perspectives on life and finances. Now think of financial changes beyond your control such as tax law changes, interest rates, inflation rates, stock market fluctuations and economic recessions. Nothing remains constant except change! Life changes, laws change and so will your plan. But, once again, this is why it's not called a financial plan, it's financial planning!