Process

Our team will collaborate to create your unique personalized plan. Just as “Rome wasn’t built in a day”, neither will your financial plan. We will dedicate quality time to make thoughtful decisions to ensure your financial future is built on a solid foundation. Below is a typical flow of first year meetings. We understand you that lead a busy life and when possible will combine meetings and or use virtual meetings to ensure that you and we are giving your plan the attention it deserves. We promise to make it enjoyable!

Meeting One: Listening and Learning
  • Goal Setting:
    We want to fully understand what you want to accomplish with your life and your money and why. We will ask thought provoking questions and listen with open hearts and minds and take notes of your wishes.

  • Investment Philosophy
    To best manage your money we need to clearly establish your risk tolerance and share with you our asset management process and philosophy so that together we can achieve your financial objectives.

  • Financial Independence
    Viewing your cash-flow needs with a long term perspective informs how much you need to save if you are pre-retirement and current annual spending if you are already financially independent. We will gather information about your income, assets, liabilities and other resources such as business interests and real estate

  • Risk Management Review
    Let us review your current insurance plans and evaluate how well they are positioned to manage potential threats to your financial security

  • Education Funding
    We analyze the cost of educating your children or grandchildren and discuss the most effective way of funding this goal

Meeting two: Recommendations
  • Financial Plan
    Your plan will incorporate all the important goals you shared in meeting one. It will become our guide for implementing strategies and solutions to accomplish them and the standard by which we measure our progress.

  • Portfolio Recommendations
    We’ll make specific investment recommendations mindful of short and long-term goals, tax ramifications and cash-flow needs and review the process of managing for your portfolio(s).

  • Insurance Recommendations
    Where necessary, we make recommendations for termination or addition of coverage including life, disability and long-term care insurance or alternate risk management strategies.

Meeting Three: Finding Economic Efficiencies
  • Income Tax Review:
    Together, we walk through the details of your current income tax return and, when possible, make suggestions that could reduce taxes in the future as it relates to your savings and investment strategies now and plan for tax mitigation in retirement. We will work closely with your CPA to try to garner the best tax outcomes possible

  • Portfolio Reports:
    Together we will review your first portfolio performance report from LifeWorth Financial – discuss the format of these reports and answer any questions you may have about your results or the process.

Meeting Four: Legacy Planning
  • Estate Planning Review:
    Let’s review your estate plan to assure it still meets the needs of your family and that your legacy objectives and regulatory environment have not changed. We will confirm that the individuals selected to perform key roles such as executor, guardian, power of attorney and trustees are still appropriate. If needed, we will work with your estate-planning attorney (or assist you in obtaining one) to implement changes.

  • Philanthropic Planning:
    If philanthropy is part of your current or legacy goals, we will discuss your giving philosophy, evaluate current charitable strategies and discuss potential ways to make your giving more effective.

  • Family Meeting (optional)
    At your request, we will host a meeting with you and your adult children to review your plan, convey your wishes, and explain their role in the process.

Meeting Five: First Advisory Review beginning year 2
  • Advisory review:
    We have all have heard the expression “life comes at you fast”. It is important for us to stay current on the changes in your life and if necessary adjust your plan accordingly to keep on track of meeting your goals.

  • Assessment Interview:
    Our goal is not just to meet but to exceed your expectations as a trusted partner in your financial success. We want and need your feedback on our progress and your recommendations for improving our client experience.