COMPREHENSIVE FINANCIAL PLAN

In an ideal world, the Comprehensive Financial Plan is the bedrock of anyone's financial life. Unfortunately, far too many haphazardly attack one aspect of their financial life or another without a systematic process to see how they all tie together, and what cannot be ignored. In the worst case scenario, there is no plan at all. The purpose of the Comprehensive Financial Plan is to structure the client's financial life so that they know where they are financially, how their goals/future plans integrate, how to manage their risk, how to utilize different investments, what it takes to become financially independent, how to best address their tax situation, and estate planning items of focus. 

Six (+) Focus Areas of the Comprehnsive Financial Plan

1 - Establishing your current financial position 

2 - Risk Management & Insurance

3 - Investment Planning

4 - Retirement Planning

5 - Tax Planning

6 - Estate Planning

Bonus - Effective Use of Credit, Education Planning, Real Estate (primary residence and investment)

 

 

The Initial Three Meetings

1 - Initial Meeting: in this meeting the client and advisor work together to first understand the clients unique situation and establish exactly what they hope to achieve from the advisor/client relationship. Then, the advisor presents his approach to the planning process and investment philosophy. 

2 - Goal and Data Meeting: here, the advisor walks the client through their goals and priorities, as well as reviews any client data provided to date and answers any questions.

3 - Plan Presentation Meeting: in the final meeting, the advisor presents the draft comprehensive plan, which at a minimum consists of a report generated by the RightCapital planning software, an Executive Summary PDF of the overall plan, and an action-oriented "To-Do" list that is shared electronically between the client and advisor. The plan is updated after the meeting and typically provided to the client in 2-5 business days.