A comprehensive financial plan will give clients a better understanding of their complete financial situation in the present and where it could be in the future. By reviewing all aspects of a client’s financials, including insurance policies, investments, income, social security benefits, goals, and expenses, we are able to develop a clear picture of the client’s financial health and the probability that they will be able to reach their financial goals. A financial plan should signal to a client whether they are on the right path towards achieving their goals or if they need to make certain changes along the way to achieve those goals.
Our process when developing an initial financial plan requires substantial feedback and communication with the client.
1. We provide the client with a Fact Finder and Living Expense Worksheet, both of which will help us gather the pertinent data as a base for the plan.
2. Once the documents are returned and evaluated, we will schedule a phone appointment to go over the data in more detail, fill in the gaps, and discuss financial goals.
3. After we are satisfied with the information that is gathered, we will input it into our financial planning program called WealthVision.
4. From here, we can run probability tests and alternate scenarios to see how different situations could affect the plan.
5. The financial plan will be presented to you based on what is most convenient for you, in person or via telephone while we share our computer screen so you can view the presentation. During this time, the client can request final changes to the data or additional scenarios.
6. The final financial plan with any additional changes will be provided to you online and/or a hard copy can be mailed to you.
7. The plan will be reviewed, revised, and presented to the client on a regular basis to ensure it reflects the client’s current financial situation.
To learn about our financial planning program, WealthVision, click here.
To view a sample comprehensive financial plan, click here.