What to Expect for Ongoing Comprehensive Financial Planning

Comprehensive Financial Planning helps you identify, prioritize, and achieve your financial goals.  Your CFP® professional will collaborate with you so that all of the puzzle pieces of your financial life are in order, optimized, and working together.  Our aim is to guide you in wise stewardship that leads to peace of mind that you are on the right path to building a solid foundation for you and your family.     

The overview below provides a high-level overview of the steps in our Planning Process for Ongoing Comprehensive Financial Planning.   Our goal is to provide a clear, easy-to-understand roadmap.  After we receive your financial data, the planning process normally takes four to eight weeks.  After the plan is delivered, we continue to meet once every 3 months to help you implement the planning recommendations, monitor progress, and update your plan annually.  This gives you time to process what we share with you and for us both to complete your planning recommendations.  As always, we are available for questions at each step of the way.

We work with clients who value our professional guidance and appreciate that they are not alone in making life's difficult financial decisions.  

Overview of Our Financial Planning Process  

Before our planning process begins, there is an Introductory Meeting.   On this call, we discuss what you need help with, your areas of concern, and what is important to you.   We seek to understand your personal and financial circumstances, and we share our planning process and fee structure.  We mutually decide whether to proceed to the next step.  15 - 30  minute phone call or Zoom

Step One:  Strategy Review Session

After your Intro Call, we take a deeper dive into your financial life, specifically discussing what you are trying to accomplish, your personal and financial goals, and any challenges you are facing.  Your questions are answered, and we identify areas where our professional expertise can improve your financial future.  This meeting is designed to be a relaxed conversation where we can learn more about one another and determine whether our approach is a good fit. 60 minutes

At the end of this meeting, if we both mutually agree, we will define the scope of the planning work and the cost to help you.

When you decide to become a client, you will receive our firm’s disclosures (Form ADV Part 2A and Supplement ADV Part 2B), Privacy Policy, Payment Instructions, and Client Agreements for signatures.  Please read and review these documents and highlight any areas where you have questions.  These documents are important because they outline the roles and responsibilities for each of us in the planning engagement. 

Step 2:  Get Started Meeting! 

We identify and prioritize the goals that matter most to you and clarify that we understand your objectives, goals, and concerns.  Your initial financial data is reviewed, and we collect any additional data needed to assess your financial status on a deeper level.  Together, we will collaborate to organize your financial paperwork or files.  If desired, we will set up online tools to link your financial accounts and store your financial documents in our secure client vault.   60 - 90 minutes

Step 3:  Assess and Explore Strategy Session

Your  current course of action is reviewed, and we consider alternative plans.  We review the initial plan projections, get your feedback, set priorities, and discuss any needed modifications.  60 minutes

Step 4:  Financial Plan Development

Behind the scenes, your CFP® professional further analyzes and examines all aspects of your financial life based on prior meetings with you.  We will then develop specific planning recommendations in the areas of retirement planning, investment analysis, cash flow management, debt and tax minimization, risk management, estate planning, and education funding, if needed.  (Please view Planning Areas to see the questions that may be addressed in each component of the Comprehensive Financial Plan.)  Time varies with client complexity.

Step 5:  Plan Presentation

Actionable planning recommendations are presented to you and ranked by order of importance. We discuss how each recommendation helps you reach your financial goals and objectives.  60 minutes

Step 6:  Implementation Meetings for the Planning Recommendations

We discuss who is responsible for implementing each recommendation.  Our goal is to simplify your life and take some of the burden off of your shoulders in the implementation process. These meetings typically occur every 3 months in the first year.  In Year 2 and beyond, we will agree to a mutual meeting frequency.   Typically 2-3 meetings as needed.  

Step 7:  Monitor Progress, Adjust, and Update

As your life changes, we will review your financial plan and update it annually.  We will meet with you to monitor your progress, adjust as needed, and serve as a trusted resource to help you meet your financial goals.  Typically, 60 minutes at least once per year.