The Financial Planning Process

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The initial data collection phase is the greatest barrier clients tend to have when completing a Comprehensive Financial Plan.  But once that is done, you only need to inform me of changes to your circumstances.  Otherwise I will take care of the rest, including continuous advice, updates and annual reviews.

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Please find below the general steps taken when completing AND implementing a Comprehensive Financial Plan;

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• Engagement

  • Initial discussion to ensure interests are aligned and it will be a mutually beneficial relationship​

  • Disclosure of Financial Planning Process, roles and responsibilities of both parties

  • Disclosure of compensation and potential conflicts of interest
     

• Collection of Data

  • A face-to-face discovery meeting or call to review your current financial situation and identify goal and objectives

  • Collection of account statements, insurance policies, list of assets, liabilities, expenses, incomes, etc. for the preparation of analysis
     

• Analysis of Data and Creation of Financial Plan

  • I take the information and construct a Comprehensive Financial Plan which analyses each of the Six Pillars of financial health to identify any deficiencies or opportunities that are related to your goals and objectives

  • Recommendations and next steps are provided at the end of the Plan
     

• Plan Presentation

  • I present the Plan and its findings to you and answer any questions

  • We review the recommendations and action plan to discuss a time frame for each step and follow up
     

• Monitor and Review

  • Annual review and updating of the Plan to monitor progress and make adjustments as needed

  • Client can (and should) let me know as soon as possible of any material changes to the information used in the Plan so that an update can be done​​​​​​​​

  • Special circumstance amendments to plans

    • Thinking about a new vehicle or home renovation?  I can help you choose between financing options as well as let you know how that spending would effect your overall financial picture​