At this initial stage, we obtain qualitative and quantitative information about you and your current financial situation. We take time to analyze the information you provide to us, and we address incomplete information. This stage is vital for a successful outcome and usually takes about a week to complete.

During the second step of the process, we identify and select your goals and gather additional information needed to understand your priorities. This step usually takes place at the same time as step 1, and the information you provide helps us analyze your unique situation. 

After our initial and second meetings, we go to work and analyze your current course of action. Basically, this means we look at what you have been doing with your money, and we make alternative suggestions for improvement. Suggestions can range from mild to strong depending on your current course and future goals. Successful completion of this step wraps up Phase I of the process and helps us develop your financial plan.

During step 4, we develop a draft of our financial planning recommendations, or FPR. Each recommendation we present considers the assumptions and estimates we used to develop the recommendation, the basis for making the recommendation, the timing and priority of the recommendation, and whether the recommendation is independent or dependent upon the implementation of another recommendation. Depending on the complexity of your plan, this can take anywhere from thirty to sixty days to complete. 

Step 5 is an exciting time for both you and us. It provides a culmination of our hard work and partnership. During this step, we present our FPR and provide extensive analysis and forward-looking recommendations. Depending on the complexity of your plan, this step can take between one to two hours to complete and can be done in person or virtually. Your plan is presented in a written format and delivered electronically via secured email. This is your opportunity to review our recommendations, take some notes, and make any changes.

Once you have had a chance to review the FPR, it’s time to put the plan to work. Once you approve the plan, we go to work by appointing implementation responsibilities; and identifying, recommending, and selecting actions, actors, products, and services needed to put your plan into action. This can include bringing in third parties, such as attorneys, accountants, and other licensed professionals needed to make the plan work. If necessary, we will recommend third parties, or we are glad to work with your own team of lawyers, CPAs, and other professionals.

Now that we’ve been partnering for a while, it’s time to check on the plan’s progress. At the step, we look at how well the plan has performed. If there were any investments implemented during step 6, how are they performing? We take a hard look at the economy now vs. then, and we make changes to the portfolio if necessary. Has your personal situation changed since step 6? Do you have a new job, house, or baby? Has your health changed,  or is someone in your life in need of assistance that requires your financial support? We take time to re-evaluate your situation, gather any new qualitative or quantitative data that is relevant, and then update your goals, your tolerance and capacity for risk, and any other important facts.