Financial Consulting Overview
Financial consulting is the ongoing management of an individual’s financial resources. All financial decisions should be made in the context of a comprehensive plan that is consistent with an individual’s resources, needs, and goals. As the quarterback of the financial planning process, we act as a facilitator to help individuals explore options, evaluate the advantages and disadvantages, and make an informed decision that is fully integrated with their plan.
Core Principles
Take a coordinated approach to all areas of financial management
No one product, plan, or method is always best
Evaluate all pertinent information and allow that information to help shape the plan
Adapt the financial plan to meet changing needs and goals
| Gather Client Data, Including Goals |
Complete a data survey
Mutually define the client’s goals, needs, and priorities
Establish realistic goals and quantify them in a manner consistent with an individual’s risk tolerance
Construct personal financial statements (Net Worth Report)
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| Analyze and Evaluate Client’s Financial Status |
Review data gathered from the client
Identify strengths and weaknesses with respect to achievement of stated goals
Analyze Estate Plan, Insurance Coverage, Cash Flow, and Long-Term Projection
Consider tactics and strategies available to achieve stated goals
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| Develop and Present Recommendation |
Identify appropriate techniques for achieving client objectives
Evaluate alternative solutions
Assist with understanding all aspects and decision making
Present a timetable to implement recommendations
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| Implementation and Monitoring |
Coordinate internal and external resources to implement financial planning recommendations
Monitor effectiveness, changes in circumstances, and the current economic environment
Re-examine an individual’s objectives, health status, income, or other personal circumstances periodically
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