WRITTEN PLAN
In order for a Written, Documented Financial Plan to be successful it must achieve two goals:
It must be able to react seamlessly to changes in your circumstances as your lives unfold and your needs evolve
It must ensure our original goals and objectives can be achieved
Although there are few guarantees in life our Commissioning and Testing Process back-tests our recommendations to ensure we have put together a plan that gives us the best opportunity to meet your desired outcome.
MANAGEMENT AND REVIEW
We understand that the key to a successful Long-Term Financial Plan is on-going management and review. Our annual review process ensures we take into account changes in your lives and those of your family including external factors such as market performance, new products, enhancements, costing, and changes to tax laws. Thereby maintaining our focus on your end goals and objectives.
WHERE TO BEGIN?
Begin with the end in mind!
ASSESSMENT
Conducting an assessment of your existing financial situation is an essential mechanism designed to ensure that your present plan will meet your future goals.
Our process specializes in reviewing your current plan to determine the baseline condition of your present financial situation as well as to understand the condition and reusability of existing products and services that you are currently utilizing to achieve your long-term financial goals.
3 key considerations are taken into account:
Constraints: Our process will identify any parameters within your current situation that may be constraining factors in the final design of your long-term financial plan.
Control Factors: We focus on the key elements of the plan that will contain the least variability.
Growth Plan: This determines the rate at which we achieve our stated goals and assists in assessing uncertainty around our estimates.
Once your Assessment is complete we present you with a detailed document outlining our findings including any deficiencies and constraints. This report will also include our recommendations to get you back on track or to maintain your current progress towards a secure and cost-effective retirement plan.
ROAD MAP
Every client’s long-term financial plan needs to begin with a solid road map: a document that benchmarks where you are today, where you want to be and clearly defines the steps needed to help you attain your ultimate goal.
A road map is developed based on the details outlined in the Assessment. The road map includes a concept and design that meet the needs of your unique situation while your lives develop and your needs evolve. Based on timelines set in the road map you can monitor progress and ensure its integrity at every step.
We work collaboratively with you to ensure you have a financial plan that satisfies your goals, objectives and budget.
The result of our work in developing a road map is a written, documented financial plan, which includes:
Basic plan assumptions
Short and long-term goals
Growth Projections
Income Projections
Income Source Analysis
Budget for implementation
Risk Analysis
Final recommendations
IMPLEMENTATION
The implementation of your written, documented financial plan focuses on the building of your plan, including accounting for income needs, savings requirements, taxes, inheritance potential, risk factors, pension income, government programs, cost factors and budget.
We leverage our strong relationships with both investment and insurance providers in order to be tax efficient, low cost, and maintain a reasonable budget.
As part of our implementation process we address and confirm understanding of the 5 key explicit needs of every client:
Risk
Return
Reporting
Service
Fees
Our proven methodology, developed over 25 years, significantly reduces long-term risks and helps eliminate additional costs and disappointing results.
Overall we provide expert knowledge and resources focused on implementing a written, documented financial plan that you can rely on.
