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Personal Financial Planning

Goals and Objectives

The foundation of a plan is the goals and objectives of the individual or the family unit. Our role is to understand and help with the formulation and crystallization of these goals and objectives, making them more specific, achievable and measurable. Your hopes and dreams, as well as risk tolerance, fears and concerns are explored during our in-depth interviews and addressed in the body of the plan.

Current Situation

The more we can learn from the various documents we collect: individual & corporate tax returns, securities, wills, trusts, business agreements, budget, etc., then the more complete our understanding of your situation will be. After a careful review and analysis, we develop an economic model of your situation on our computer and project your cash flow and tax liability over a four to five year period. We then go over this information and your goals and objectives with you, taking note of any additions or changes, and this information is then used as the basis for the development of your plan. Decisions should be made from alternatives. Our role is both to identify and diagnose financial problems and to research and develop viable alternatives. We then will make recommendations based on our understanding of your current situation and your goals and objectives. We document our recommendations in an implementation guide contained in your plan. An additional element is the prioritization of objectives and strategies. Your plan covers elements ranging from asset allocation to estate planning, so we sometimes see resource or goal conflicts. In these cases, we outline options, which when blended together, make the most sense in a cohesive overall plan. No plan can be attained without taking deliberate action. The critical element is your commitment to making a decision, and our role is to translate your decision into action. This action may involve a continuing coordinating effort with your other advisors: your attorney for new wills/trusts or business agreements, your CPA for tax changes, your trust officer for changes to your wills/trusts, etc. At your option it may involve the purchase of securities or insurance-related products. We work to describe the risks involved and focus on suitability for you within the overall plan. It is important to note that you have the option, not an obligation, to implement any recommendation we have made in the plan.

Continuous Service

We live with constant change. There are changes in the environment - tax laws, economic factors, and changes in your situation - goals, objectives, personal circumstances, etc. To be in control of your financial destiny, it is vital for us to constantly monitor these changes and the effects on your financial situation with you, and to offer advice and guidance on an ongoing basis. We provide this service to you under the title of Periodic Services.