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Financial Planning Process

The following are the elements of our Financial Planning Process. This is designed to be consistent with the CFP® Practice Standards in effect June 2020.

Financial Planning integrates relevant elements of our client’s personal and financial circumstances.  There are seven steps in the Financial Planning Process.

  • Step 1.  Understand the Client’s Personal and Financial Circumstances
  • Step 2.  Identify and Prioritize Client Goals
  • Step 3.  Analyze the Client’s Current Course of Action and Potential Alternative Courses of Action
  • Step 4.  Develop the Financial Plan
  • Step 5.  Presenting the Financial Plan
  • Step 6.  Implementing the Plan Recommendations
  • Step 7.  Monitoring Progress and Updating the Plan

Financial Planning Elements – While not a complete list, the following elements are typical of an integrated financial plan.

  • Investment Management / Wealth Management

 Investment Management Process for Qualified and Non Qualified Accounts

  • Protection Analysis / Protection Planning

Life insurance

Long term care insurance

Disability income protection

Property and liability insurance

  • Education Funding Analysis

College cost

College savings

Planning and monitoring progress to goal

  • Retirement Planning

Goal planning and monitoring

Social Security & Income Planning

Health Care in Retirement

  • Estate Plan Analysis

Beneficiary designation review

Estate document review

  • Client Education Plan  

Topical financial information provided to clients

Check the background of this firm/advisor on FINRA’s BrokerCheck.