There’s no time like the present to develop a financial or investment plan. In life, we pass through several phases, each with different financial requirements. Our advisors have the expertise to design a plan with each client’s circumstances in mind, helping them develop both short and long-term financial strategies for their individual needs. In addition to the changing priorities that occur over a lifetime, financial and investment plans are also affected by fluctuating economic conditions, taxes and regulations. That is why it is critical each client regularly review their plan with their financial advisor and make adjustments as needed.
Although our comprehensive financial and investment planning services include four primary steps, the process is flexible. We apply the steps differently to each client, expanding some and streamlining others to develop a customized plan each time. These basic steps are:
Our advisors gather information about a client’s financial condition and about them personally, with an emphasis on client goals and risk tolerance. We establish a relationship with our clients because life is not just a balance sheet, and we need to understand what is unique about each client. In this step, our team also discusses our capabilities.
We then analyze the information our clients have shared and design solutions that help them to meet their objectives, both financial and personal. Our advisors may collaborate with a client’s other planning professionals such as a CPA and attorney. We meet to present our recommendations, answer any questions, consider alternatives and confirm recommendations before moving forward.
In this step, we adopt the action plan though the selection of specific products and services. Advisors may again coordinate with a client’s other professionals.
Our team continuously monitors the progress of the recommendations relative to the client’s goals and objectives. The fourth step isn’t really the last step because reviews continue periodically until the goals and objectives are realized. Clients must be involved in this continuing process so that advisors can be made aware of any significant personal or financial changes and can propose plan adjustments if needed.