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Our Six Step Approch to Financial Planning: |
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STEP 1 Identify/prioritize objectives |
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Our financial planner will discuss your dreams, goals and needs to develop a clear vision of your financial future. |
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STEP 2 Gather information |
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The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need. |
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STEP 3 Analyze information |
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The financial planner should analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.. |
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STEP 4 Develop your personal financial plan |
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The financial planner should offer financial planning recommendations that address your goals, based on the information you provide. The planner should go over the recommendations with you to help you understand them so that you can make informed decisions. The planner should also listen to your concerns and revise the recommendations as appropriate. |
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STEP 5 Take action |
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You and the planner should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as your "coach," coordinating the whole process with you and other professionals such as agents, solicitors, chartered accountants, stockbrokers etc. |
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STEP 6 Review your progress |
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You and the planner should agree on who will monitor your progress towards your goals. If the planner is in charge of the process, he/she should report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes |
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