Financial planning is the process of analyzing your current financial situation, then creating, implementing, and monitoring a plan to reach your financial goals. When financial planning, we follow the CFP® Board of Standards Processes and Procedures to provide unbiased, objective advice, holding the fiduciary standard with the utmost regard. This means that when giving advice, our recommendations will be free of any conflicts of interest, as our advisors never receive commissions or sales charges for their advice. Our planners are compensated entirely be predetermined fees, eliminating the inherent conflicts of interest posed by the varying levels of paid commission among financial products. You can be reassured that your advisor will not push certain recommendations in order to receive greater compensation. Our advice will be supported by objective data and calculations, always placing your best interests first.

Financial Planning

Standard Financial Planning Client Appointment Process:

  • Introductory Meeting: 30 to 60 minute, no cost consultation to communicate services provided, gather preliminary data, and establish planner-client relationship.

  • Comprehensive Data Gathering Session: 60 to 90 minute consultation to review the entirety of a client’s financial condition. This includes an overview of client risk tolerances, values, goals, net worth, and budget analysis.

  • Plan Delivery Session: 60 to 90 minute consultation to communicate current financial situation, plan recommendations, alternative recommendations, and next-steps to implementation.

  • Financial Plan Implementation: 60 to 90 minute consultation to determine plan implementation and investment management guidelines. From here, client-planner monitoring duties and guidelines will be communicated.

  • Ongoing Monitoring: 30 to 60 minute review of plan recommendations and necessary adjustments. Standard client monitoring consultations will be made on a semi-annual basis, unless quarterly or annual meetings are requested by the client.

Financial Planning Topics Include:

  • Financial Statement Preparation and Analysis - To know where you are going financially, it is imperative to truly understand where you are at today. Following the initial consultation, our planners will conduct a thorough data gathering session to provide you with a clear picture of your current financial condition.

  • Cash Flow and Budget Analysis - We will aid you in implementing strategies to manage your monthly and long-term expenses throughout your lifetime. As your financial situation changes and evolves, our planners will make necessary recommendations to your budget.

  • Insurance Planning and Risk Management - When working with our planners, we will aid you in determining which risk management products are right for you. This may mean recommending certain types of insurance such as life or long-term care insurance. Our financial planning software will provide you with quantitative calculations to objectively pinpoint unnecessary risk exposures. In doing this, you can feel confident that your insurance coverage is economically reasonable and continually monitored. Again, our recommendations never result in additional compensation from insurance commissions. Instead, we will provide you with trusted third-party contacts that will aim to provide you with the appropriate policy at an efficient rate.

  • Employee Benefits Planning - When conducting an analysis on a client’s financial plan, we will review the use of current and past employee benefit plans. We may make suggestions to maximize the benefit of these plans while communicating the financial plan recommendations. While working with business owners, we may also make recommendations to benefit programs to meet the goals of the business and the business owner.

  • Investment Planning - Whether managed in-house or by the client, we will aid clients in selecting proper investment vehicles and portfolio allocations to reach their goals. Our recommendations are based on subjective characteristics of the client, and time horizons. While monitoring ongoing plans, we will make recommendations to change a portfolio’s allocation when necessary.

  • Income Tax Planning - Tax planning means deferring, or flat out avoiding taxes by taking advantage of beneficial tax-low provisions, increasing and accelerating tax deductions or tax credits, and generally making maximum use of all applicable breaks available under the Internal Revenue Code. Tax planning and financial planning are closely linked because taxes are likely to be your single biggest expense over your lifetime. To mitigate the impact of taxes on your finances, there are numerous strategies that can be implemented to increase the after-tax return of your investments.

  • Retirement Planning - Retirement planning is a critical topic in the financial planning process. In order to accumulate a significant nest egg to sustain an individual through retirement, a savings plan must be implemented and followed. When working with our advisors, we will calculate the amount necessary to save to provide for yourself and your loved ones in retirement. We will consider employee benefit plans among other resources to maximize your potential retirement savings.

  • Estate Planning - While reviewing your current financial condition, we will conduct an analysis on your exposure to estate taxes, and potential risks associated with premature death or incapacitation. We may suggest the use of certain trusts or powers of attorney to reduce your estate tax liability or protect your assets.

Ongoing Comprehensive Financial Planning Service

The most critical aspect of the financial planning process is the continued monitoring and revisions of the plan. When participating in our Ongoing Comprehensive Financial Planning Service, you will have the option to meet with our planners on predetermined basis for a fixed monthly fee. We will provide revisions and updated recommendations to your financial plan at a frequency that is most comfortable to you.

Service Benefits Include:

  • Four CFP® Board Standard Financial Planning Appointments

  • CERTIFIED FINANCIAL PLANNER™ professional on call or email at anytime

  • Ongoing Comprehensive Service with up to 1 meeting per quarter

  • Continued Monitoring & Annual Reviews

  • Network of professionals to aid in the implementation process.