Our Process
Creating a comprehensive plan
Designing a comprehensive financial plan involves the following six steps
| 1. Establish the advisor - client relationship. | You / Advisor | Define roles and responsibilities, and determine how decisions will be made. |
| 2. Gather information, and define goals. | You / Advisor | Compile account statements and other documents; discuss retirement, children's education (if applicable), and other goals; determine risk tolerance (investor profile); explore general values and priorities in the areas of work, family, and personal fulfillment. |
| 3. Analyze and evaluate your financial status - and identify risks, challenges and opportunities. | Advisor | Determine what you need to do to reach your goals. Consider all areas: investing, insurance, debt management, business planning, tax planning, retirement planning, business succession planning, and estate planning. Decide which outside advisors, if any (accountant, lawyer, other) are required to complete the plan. Prepare a written list of recommendations. |
| 4. Present recommendations to you. | You / Advisor | Review recommendations. Explain the rationale for each, obtain your input, and adjust recommendations as necessary. Answer questions. Describe next steps. |
| 5. Implement recommendations. | You / Advisor | Depends on recommendations. Examples of activities may include reallocation of investment portfolio, amend insurance coverage, establish a retirement plan for you - and/or a succession plan for your business. |
| 6. Monitor plan. | You / Advisor | Periodically revisit goals and evaluate progress. Define new goals as appropriate and tweak plan to incorporate them. Ensure other advisors (accountant, lawyer, etc.) are working in harmony. |