What We Do - Develop, implement and monitor comprehensive financial plans
What We Don't Do -
- Sell investment products
- Manage portfolios without a corresponding financial plan
- Give advice without understanding the entirety of your financial situation
What would you do if you went to a doctor and said "Doc, my elbow hurts" and without further consultation the doctor prescribes a medication and sends you on your way. Hopefully you'd throw away the prescription and go to another doctor. A doctor who would ask things like "Where exactly does it hurt? Does if feel like it's on the bone, skin or muscle? Is it a sharp pain or a dull pain? Does it feel worse in the morning or at night?"
A good doctor won't make a recommendation before fully understanding your ailment. Similarly, a good financial planner won't' make a recommendation without fully understanding your financial situation. Investments, savings, Social Security, insurance, and estate planning all tie together. You can't make a decision on one without considering all the others.
So while we help people with every aspect of their financial lives, we won't advise you on just one. Therefore, all of our clients have a financial plan which we develop together and then monitor and update on an ongoing basis, as outlined by the CFP Board.
The six steps to the financial planning process are:
Establishing and defining the client-planner relationship
- Establishing and defining the client-planner relationship
- Gathering client data including goals
- Analyzing and evaluating the client’s current financial status
- Developing and presenting recommendations and/or alternatives
- Implementing the recommendations
- Monitoring the recommendations