1. Initial Meeting/Discovery We clearly explain or document the services to be provided to you and define both or our responsibilities. We explain fully how we will be paid and by whom. We should agree on how long the professional relationship should last and on how decisions will be made.
2. Gathering client data, including goals. We will ask for information about your financial situation. We will mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. We will gather all the necessary documents before giving you the advice you need.
3. Analyzing and evaluating your financial status. We will analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
4. Developing and presenting financial planning recommendations and/or alternatives. We will offer financial planning recommendations that address your goals, based on the information you provide. We will go over the recommendations with you to help you understand them so that you can make informed decisions. We will also listen to your concerns and revise the recommendations as appropriate.
5. Implementing the financial planning recommendations. We will agree on how the recommendations will be carried out. We implement the recommendations or serve as your “coach,” coordinating the whole process with you and other professionals such as attorneys or accountants.
6. Monitoring the financial planning recommendations. We will agree on who will monitor your progress towards your goals. If the planner is in charge of the process, they should report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes.
Start the conversation about your financial future and schedule your 30 minute complimentary consultation. You can reach us directly at 631-714-6044, click to schedule a meeting.