Discovery Meeting
What do you hope to get out of working with a fee only financial planner? Was there a catalyst for you to start working with someone? How much would it cost? What is the financial planning process?
Client On-boarding
Gather and enter your data. This will take anywhere from 2 to 4 hours.
Data Gathering and Strategy Meeting
Together, we walk through your data to we see what changes or additions, if any, to make. Then, together we map your financial goals and rank them in your order of importance. After reviewing the key concepts of investing to make sure you understand key aspects of investing, we assess your loss threshold (a.k.a. your risk tolerance).
Financial Planner Work
We analyze your data, your source documents, your level of risk, your financial fluency, and your financial goals. Then, we identify the best options and the best outcomes for you. Mapping and modeling the optimal path and optimal methods to get you there is also conducted.
We build your 3 financial plan deliverables: 1: Financial Plan. 2: One-Page Action Plan 3: Portfolio Plan.
Financial Plan Deliverables Meeting
Manifested in your 3 financial plan deliverables, we walk through the findings and the recommendations. Since this is a dynamic meeting, we could adjust any ‘what if’ scenarios in real time. This would help us to determine any impact to your ability to do everything you want to do. Also, we discuss any implications (good and/or bad) of any changes. Immediately, we see the results of any changes you are considering.
Implement
Working from your financial plan deliverables, you implement the recommendations. You reach out for more explanation or clarification on anything that wasn’t clear. Clarification questions during the implementation phase don’t cost extra.
Monitor
Since you continue to have access to the financial planning tool, we encourage you to keep your data up to date to keep your projections up to date. If you are managing your own portfolio and keeping your portfolio holdings up to date, your portfolio asset allocation would stay accurate. This allows you to track to your desired portfolio model.
Review
When or if you want to update your financial goals and/or conduct a portfolio review, you’d reach out.
Clients that want a review tend to schedule one anywhere from 1 to 5 years after their initial financial planning engagement. Reviews are not mandatory and are billed hourly.
The financial planning process applies to all financial planning engagements.
Are you ready to take the next step? Schedule a Discovery Meeting to get started.