Financial Planning

Comprehensive Financial Planning

A sound finan­cial plan is much like a well-con­struct­ed home. It uses build­ing blocks that pro­vide sup­port as you pur­sue your finan­cial goals. Each build­ing block — from cash flow to estate plan­ning — will be pri­or­i­tized and serve as a vital com­po­nent to achiev­ing your goals. We will look at:

  • Cash Flow – Ana­lyze your exist­ing cash flow and finan­cial posi­tion. In this com­po­nent we will sum­ma­rize and assess your income and expens­es, key bud­get­ing issues and your cash reserves for emer­gen­cies or oth­er oppor­tu­ni­ties.
  • Risk Man­age­ment – Iden­ti­fy poten­tial risks – loss of health, prop­er­ty, income or life – and devel­op strate­gies to pro­tect against each risk.
  • Accumulation/Investment – Invest for spe­cif­ic accu­mu­la­tion goals, such as edu­ca­tion or home pur­chase. In this com­po­nent we will devel­op invest­ment strate­gies based on your time frame and risk tol­er­ance and rec­om­mend asset allo­ca­tion.
  • Income Tax – Iden­ti­fy appro­pri­ate tax-sav­ings strate­gies avail­able for your spe­cif­ic sit­u­a­tion.
  • Retire­ment – Eval­u­ate your retire­ment needs and devel­op strate­gies for the accu­mu­la­tion and dis­tri­b­u­tion phas­es of your life.
  • Estate Plan­ning – Plan for your estate plan­ning and wealth preser­va­tion needs, includ­ing strate­gies to ensure that your wealth is pre­served and passed effi­cient­ly and cost-effec­tive­ly to the peo­ple or orga­ni­za­tions you wish, at the time and in the man­ner you want. If need­ed, addi­tion­al ele­ments in this process can include wealth fore­cast­ing, busi­ness plan­ning and suc­ces­sion plan­ning.

Lifecycle Phases

As we work through your finan­cial plan, it’s ben­e­fi­cial to under­stand the four basic life­cy­cle phas­es. In each life­cy­cle phase cer­tain finan­cial goals and objec­tives tend to become more sig­nif­i­cant.


Dur­ing this stage, the finan­cial goals and needs are like­ly to shift every time the individual’s life under­goes a sig­nif­i­cant change: mar­riage, the pur­chase of a home, rais­ing chil­dren, build­ing a career or busi­ness and, per­haps, pay­ing off stu­dent loans and oth­er debt. Ear­ly on, a sig­nif­i­cant change can make it finan­cial­ly dif­fi­cult as earn­ings and finan­cial resources are often low, while finan­cial demands are high.


Dur­ing this phase chil­dren have either left or are close to leav­ing the nest. In many instances, mort­gage and oth­er debt may be paid off by now. Nor­mal­ly you should be posi­tion­ing assets for retire­ment and man­ag­ing risk.


Those in the retire­ment group are typ­i­cal­ly focused on main­tain­ing the lifestyle they’ve become accus­tomed to, per­haps trav­el­ing more or pur­su­ing hob­bies, man­ag­ing their assets effec­tive­ly and pro­tect­ing those assets to ensure they last through­out their retire­ment years.


In the Lega­cy stage – less active retirees gen­er­al­ly become focused on how to trans­fer their wealth in a cost-effec­tive and tax-effi­cient man­ner. As the term sug­gests, these per­sons tend to be more con­cerned with the “lega­cy” they are leav­ing behind – not only from a finan­cial stand­point, but also from the per­spec­tive of how they will be remem­bered and whether they have pos­i­tive­ly impact­ed the world around them.

Personal Financial Planning Process

Our expe­ri­ence has shown us that to do these things well, a suc­cess­ful finan­cial plan must include three key ele­ments:


Your finan­cial plan begins with us lis­ten­ing to you, ask­ing ques­tions about your cur­rent finan­cial sit­u­a­tion and iden­ti­fy­ing your goals and pri­or­i­ties. Your per­son­al infor­ma­tion cre­ates the foun­da­tion of your plan.


We will review your infor­ma­tion and pre­pare your indi­vid­ual finan­cial plan. Based on your per­son­al infor­ma­tion and goals, we will deter­mine strate­gies that are best for you, pro­pose solu­tions for your cur­rent needs and address your long-term goals.


Your per­son­al finan­cial plan is a blue­print to your finan­cial future and can be used to mea­sure your effec­tive­ness. Tak­ing action is the most impor­tant step of all. Your plan will tell you what actions to take and how to review and mon­i­tor your progress over the years.

A Successful Financial Plan Can Make You a Winner

Your plan puts you in con­trol and in the know about your finan­cial future. With a plan in place you will be able to:

  • Iden­ti­fy and define your finan­cial goals and objec­tives.
  • Deter­mine appro­pri­ate strate­gies and solu­tions that will help you work toward those goals and objec­tives.
  • Make informed finan­cial deci­sions based on a plan of action that address­es your spe­cif­ic finan­cial goals, con­cerns and needs.
  • Dove­tail your plans with your oth­er finan­cial con­sul­tants (such as a tax and legal advi­sor) to remain focused on your short- and long-term goals.
  • Become proac­tive, rather than reac­tive, when address­ing changes in your life, your tax sit­u­a­tion, or eco­nom­ic and finan­cial mar­ket con­di­tions.
  • Enhance your fam­i­ly com­mu­ni­ca­tions and under­stand­ing of over­all finan­cial goals.
  • Coör­di­nate all the areas of your finan­cial life.