Wealth Advisory Services

Financial Planning

A comprehensive plan is a serious undertaking; however, the information gleaned from it will be immensely beneficial for your future success.

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Charting a Course

We offer you a comprehensive financial plan that is an in-depth analysis of your ability to meet current and future goals. It will provide you with a detailed understanding of your current net worth as well as provide a roadmap for meeting the goals we have identified. The process is truly comprehensive.

What is the process for completing a plan?

Starting a comprehensive financial plan can be a significant time commitment, but the valuable insights gained are critical to planning for your future. The onboarding process usually involves completing a detailed questionnaire, providing documents related to your assets and liabilities and having meetings with a CERTIFIED FINANCIAL PLANNER™ (CFP®). The timeline can vary, but our goal is to thoroughly understand your situation.

First, we thoroughly evaluate your current net worth and ensure it is protected. We also identify your immediate and long-term goals. Should “gaps” be identified between your current position and your goals, we create practical, actionable steps to adjust your path so that you can live the future that is best for you and your loved ones.

Our primary tool to assist you in creating your financial plan is called Money Guide Pro (MGP). MGP allows us to enter your details, such as the individual assets held in a portfolio. We can also connect your accounts to MGP, via data feeds, so that your information is always up to date.   You can then use an MGP portal to change different aspects of your plan and view the results.

MGP utilizes a Monte Carlo statistical analysis process. In financial planning, we input hundreds of variables, each of which has its own statistical variances or standard deviation. The Monte Carlo process runs projections 10,000+ times, each with a different mix of variable values. It then gives us the likelihood of meeting your goals as a percentage. Because MGP does these projections in real time, we can see how small changes in your plan affect your likelihood of success.

There are two general ways to approach financial planning; Cash Flow Planning and Goals-based Planning.

Cash Flow Planning
This process takes into account your current assets, how they will grow, and gives you a predicted amount of future cash flow. You then model your future lifestyle based on how much money you will likely have.

Goals-based Planning
This process focuses on outlining a clear picture of what your financial goals are. These goals are ranked by priority and given an estimated cost. Your assets are then used to fund these goals in order of importance.

We primarily use a goals-based approach. We want the focus to be on what you ultimately want to have. This allows us to set clear action items to help you achieve your stated goals. Cash flow planning is worked into our process, as we evaluate the money needed to fund your goals, but the focus is always going to be on what you want to achieve.

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