What will my Financial Plan cover?

Your financial plan will be unique to your personal financial situation. Our main concern is to listen to what your financial priorities are and to create a plan to hit them. A financial plan may cover these 6 areas:

  • Current Financial Position – Reviewing your budget, cash flows, net worth, and emergency reserves
  • Protection Planning – Reviewing your insurance policies and other risk management tools
  • Investment Planning – Assessing your investment risk tolerance and designing an asset allocation strategy
  • Retirement Planning – Estimating retirement income and expenses and benchmarking if you are on pace to hit your goals
  • Tax Planning – Projecting taxes into the future and evaluating tax minimizing strategies
  • Estate Planning – Transferring your estate according to your wishes while minimizing applicable taxes

Using our eMoney Financial Planning software we can also model out different scenarios that will help you evaluate the financial implications of a decision you are contemplating. The software can also give you real-time access to your account balances as the markets ebb and flow. 

While the planning process is quite comprehensive, we do provide ongoing reviews that will allow us to update the plan as your life changes. Your financial plan will evolve with you over time.

With the internet as a resource and low-cost investment platforms available, couldn’t I do a lot of this myself? Why should I work with you?

While it sounds pretty simple, creating a financial plan can be quite complex. Many people don’t know where to begin and internet-based platforms often don’t give you a customized strategy that’s tailored made for you. Much of what you read on the internet is not personalized to your unique set of circumstances.

My team and I go above and beyond the numbers to learn more about you and your family’s values and goals. We are there, by your side, helping you through life’s financial challenges, while helping to ensure that decisions are made that are congruent with your principles. The process that we take you through is a joint discovery process, where we work as your advocate to give you customized financial advice specific to your financial goals.

I’m nervous about going over my finances, how do you work with individuals who might have money fears?

Money management can be quite scary! Between the stock market roller coaster, outstanding debt you owe, and even the daunting task of saving for retirement, it can get quite overwhelming! It’s unfortunate that we aren’t taught these concepts in school.

As you create your financial plan with us, we are sensitive to the fact that many times money has some powerful emotions tied with it. We are careful to progress slowly through our process to ensure that we go at a pace that is right for you. We never judge you for your money habits and never want you to feel embarrassed.

By the time your plan has been created, we hope that you feel more confident about your money, and also learn more about your finances too. We engage you throughout the process and teach you money management success tips. Our goal is to be a positive resource for you throughout your life.

Do I have to implement my plan with you?

If you engage us to create a financial plan with you, we never want you to feel obligated to implement the plan with us. Separate from the financial plan and our role as financial planner, we may recommend the purchase of specific investment or insurance products or accounts. These product recommendations are not part of the financial plan and you are under no obligation to follow them. 

At the same time, we hope that you choose to work with us. Since we know that a plan is only as good as that which is executed, we can be by your side helping to select appropriate products or accounts to fulfill your needs.

Do I have to renew my plan each year?

While there is no obligation to renew your plan after our initial engagement, we do recommend it. Financial planning is not a one-and-done process. It evolves with you. As you experience major life changes, the process may start over. We’ll need to discuss new information and changes to your plan along the way. From there, we’ll work together to create a new action plan.

What’s the next step if I want to get started and what should I bring to our first meeting?

To get started, we like to setup our first meeting to get to know each other a bit better. At this meeting, we learn more about your financial situation and see how we can help. We encourage you to bring a list of financial questions or concerns that you’d like to review. In addition, you can come prepared with our New Client Profile Form filled out.  That will help us so we can spend our time effectively. Click here to contact us to get started today!