OUTLINE OF OUR INITIAL PROCESS
We being by meeting with you either in person or online via Skype, Zoom etc.
This is a critical step where we determine whether we are suited to work together. Financial Planning is important and covers some very personal issues for our clients. It is critical that they work with someone they can confide in. There is no cost or obligation for this step.
After meeting and determining that we want to work together we will enter into an agreement detailing the scope of our working relationship and the fees for those services.
Our fees are detailed on our Services page and in our ADV Part 2 (see link in footer below). Our fees are based on complexity quoted to cover a 12-month period and payable quarterly (or monthly). We engage with you for the long-term.
Now the work begins. We will ask many questions and review documentation until we are able to form a complete picture of your goals and your financial situation.
Providing information can be a time-consuming process for you as we need to understand all aspects of your situation. Sometimes documentation may be missing and you will need to request it from your service providers to share it with us.
We will analyze your goals and current financial picture and formulate recommendations as to changes you can make (things to do and things to stop doing) to allow you to move closer to your goals.
We utilize a range of techniques and modern technologies to obtain the optimal solution for you. We will highlight the tradeoffs and help you make the final decisions.
The implementation phase is where we begin to look at things like what products, services, and investments can be utilized to help you accomplish your goals.
Opening accounts, transferring assets, selling some assets, buying new assets, changing allocations in 401k plans all of these activities wait until the implementation stage. If you have no savings the first action is to begin saving (not investing!).
We will quickly establish a review timeline with a cadence appropriate to your situation.
We will also begin looking at other issues you may not have chosen to address in the initial phase or which arise at particular times of the year such as taxes, employee benefit options, and enrollment. At any time we encourage you to tell us about any issues which are on your mind.
Risk Tolerance Questionnaire
We measure risk tolerance to determine your level of comfort in taking financial risks. This can significantly affect your ability to implement your financial plan. There are no right or wrong answers. It is not better to be more or less risk averse. There is your score and we will incorporate it into your plan.