Financial Planning Process

The Financial Planning Process consists of the following six steps:

1. Establishing and defining the client-planner relationship.

We will explain or document the services to be provided to you and define both of our responsibilities. We will explain fully how we will be paid. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.

2. Gathering client data, including goals.

We will ask for information about your financial situation. We will mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. We will gather all the necessary documents before giving you the advice you need.

3. Analyzing and evaluating your financial status.

We will 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.

4. Developing and presenting financial planning recommendations and/or alternatives.

We will offer financial planning recommendations that address your goals, based on the information you provide. We will go over the recommendations with you to help you understand them so that you can make informed decisions. We will also listen to your concerns and revise the recommendations as appropriate.

5. Implementing the financial planning recommendations.

You should agree on how the recommendations will be carried out. We may carry out the recommendations or serve as your "coach," coordinating the whole process with you and other professionals such as attorneys and Insurance agents.

6. Monitoring the financial planning recommendations.

We will report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes

*All Investing involves risk including the potential loss of principal. No investment strategy such as asset allocation or diversification can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary.
*Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. Securities sold or redeemed prior to maturity may be subject to a substantial gain or loss. In general, the bond market is volatile as prices rise when interest rates fall and vice versa.
*There can be no assurance that alternative investments will be profitable and will even outperform asset classes correlated to the stock and bond markets. These strategies are not suitable for all investors and may be offered only to clients who meet specific suitability requirements, including minimum net worth tests. Investors should consider the special risks with alternative investments including limited liquidity, tax considerations, incentive fee structures, potentially speculative investment strategies, and different regulatory and reporting requirements.