Full Circle Process
Financial Planning Process Overview
How a Certified Financial Planner Helps You Achieve Your Goals
Just as in the labyrinth, the twists and turns are similar to what we encounter in life. Financial planning involves evaluating the options and then making decisions and setting those decisions in motion. Having a financial advisor by your side helps you navigate those life changes to stay on your path to reach your financial goals. Working with an advisor encourages you to embrace the journey, adapting to changing circumstances, and in turn making informed decisions to confidently achieve your financial goals.
What Does a Personal Financial Plan Cover?
Risk Evaluation & Mitigation
Stage of Life – Accumulation – Preservation – Distribution
Medical Insurance
Life & Disability
Home & Auto
Umbrella
Evaluation Of Financial Position
Cash flow review & analysis
Debt management & strategies
Retirement Planning / Life Planning
Optimizing Work Benefit Programs
Pension Plan Selection
Health Savings Accounts
Creating Tax efficient Income Stream
Social Security start date
Required Minimum Distribution
Let's Make a Plan
Tax Planning
Tax strategy & understanding
Opportunities for reducing tax liability
Investment Planning
Risk Tolerance Questionnaire
Portfolio evaluation
Tax-efficient investing
How much do you need to Retire?
Asset Allocation
College /Education savings
Estate Planning
Creating a legacy
Creating a Trust
Creating a Will
Power Of Attorney for Medical & Financial
Guardianship
How to select an Executor
Process
Your Steps To Building Wealth Management Solutions
Prospect Meeting
Discuss goals & challenges
Determine “Good Fit”
Discovery Meeting
Sign Engagement Letter
Provide / Upload requested documents.
Firm up financial goals
Set next meeting
Review & Validation Meeting
Validate cash flow & net worth reports.
Review preliminary recommendations.
Updates to original information.
Set next meeting.
Final Recommendations
Review Final Reports
Assign Action Item Timeline
Monitor Progress
How We Get Started
Tell me about you.
- Tell me about your career(s).
- What are your dreams and goals you want to accomplish?
- What goals are your highest priority?
- What keeps you up at night?
- Are there any special needs or concerns to take into consideration in the plan?
- Are you comfortable investing in the market? Do you know your risk tolerance?
- What questions about financial planning do you have today?
- Do you participate in your employer retirement plan? How did you select the investments?
- How much time do you spend on your financial goals?
- How do you like to spend your free time?
- I will send an engagement letter describing the specific aspects of a financial plan, the plan cost and the agreed upon objectives of the engagement.
- Once you send the signed agreement back with a deposit, I will request you email/mail or provide me with the list of detailed information outlined on page 10 of this outline.
- We will meet again, after I have received and reviewed all the financial data, to verify the accuracy and completeness. At this time, we will refine the original goals and agree on the goals to include in the plan.
- We will next meet to review the recommendations and see what ones you want to implement.
- The final meeting will then present the final plan with the list of recommendations.
- Estimated time to complete will be discussed in our meeting, average 4-6 weeks.
- We will continue to communicate during the year to ensure the recommendations are implemented, update any changes to your current situation (change of job, or plan, etc.) and answer any questions when they arise.
Attend A Class
- Tax Strategies
- Investing
- Cash Flow
- Fraud Awareness & Prevention
