Putting You On the Path to Success

FINANCIAL PLANNING

A financial advisor plays a central role in addressing your specific financial needs and concerns, and can provide a lifetime of guidance as well.
In order to fulfil my duties, I guide prospective clients through the following 6 step financial planning process.
Step 1 (Identify your needs and objectives) and Step 2 (Gather information) are typically accomplished in a first meeting. Step 3 (Analyze Information and Develop Plan) can take from a few days to a few weeks depending on the complexity of the situation and then type of the plan. You can opt for full customized financial plan, modular planning approach or concentrate on investment planning only. In the latter case, Investment Policy Statement (IPS) is created.  Plans are provided free of charge. The investment planning part involves setting up portfolio based on client's risk tolerance, objectives, time horizon, net worth, knowledge, fee sensitivity.  This process will also determine the most appropriate approach to managing client's portfolio (transaction based, fee based or discretionary) which in turn will dictate type of investments most suitable for respective approach. In the second meeting I will present and deliver the plan (step 4). It is very important to mention that at this point prospective client does not have to make any decision. Prospective client can simply take written plan home to think some more before making any commitments. Also, if you initially decided to focus on your investments, we can always engage in full financial planning process (retirement, risk and estate planning, tax planning) at a later time.  The moment you make a decision to work with me,
I will implement the plan (step 5). Usually the first regular meeting will be 3 – 4 weeks after the implementation of the plan. Review of your progress and update (step 6) is done on semi-annual or quarterly basis. Since managing your finances is an ongoing process, it is important that you feel comfortable with your advisor, share a mutual respect, and be confident that your best interests are your advisor’s top priority. I welcome the opportunity to explore your financial options with you.  Please do not wait – it is your future, and that is too important to neglect.

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