We believe in educating the client at each step in the planning process. Understanding the reasons for implementing strategy will help each client have the courage to stick to a long term plan.
1. Fact Finding Meeting: In this initial meeting we will ask you a number of questions about your savings, assets, income, and retirement goals. Before making any recommendations we need to have a complete understanding of your situation. We are happy to answer any questions you have about us. Feel free to bring questions about our background, how we get paid, and referrals are available upon request. Listed below are documents that would be helpful to bring to our first meeting. Don’t worry if you don’t have everything, we can always fill in the gaps later.
- Bank account statements
- 401k, IRA and other investment account statements
- Recent paystub(s)
- Retirement benefit statement or booklet, if applicable
- Social Security statement(s)
- Insurance summaries, if applicable.
i. Life Insurance: Death benefit, premium, policy type.
ii. Long Term Care: Policy details from benefit statement page.
iii. Homeowners and auto insurance: Declaration page from policies.
2. Analysis and Recommendations Meeting: In our second meeting we will put together a detailed analysis of your situation as well as recommendations on how to proceed. For most clients, this analysis includes retirement projections, asset allocation, protection planning analysis, and survivor needs analysis. Within each of these modules, we complete a detailed “what-if” analysis to stress test your plan against a variety of assumptions.
In making recommendations, we move from the theoretical world of assumptions down to the nuts and bolts: how do we actually put a plan in place that will help you accomplish your goals. We will explain how we would recommend you invest your assets and exactly what fees you would pay to do so. We feel strongly that it is important for you to understand what fees you are paying for your investments and what you are getting for these fees.
3. Questions and Implementation Meeting: At times the second meeting can be a little overwhelming due to the volume of information we are covering. Most clients take that information home and spend some time reading over this before the third meeting. In this third meeting, we go over any questions about analysis or recommendations. Some clients have a firm grasp of the situation and are ready to put a plan in place. Other clients need more time for us to answer questions before setting a fourth meeting.
4. Implementation Meeting: If necessary, the fourth meeting is used to refine the plan and begin to implement the strategies we have discussed.
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