Financial Planning

We believe that successful wealth management can only be accomplished through the implementation of a comprehensive financial plan. How wealth is structured can have a greater impact on net returns than any single investment decision.

The steps of financial planning include:

• Establishing and defining the relationships. It is important that both the client and adviser define their expectations and the manor in which they will work together.
  
• Discovering and gathering client data. A thorough review of client information (past and present) is necessary in order to gain a better understanding of your current situation.
  
• Organizing and analyzing a client’s financial condition. A meticulous evaluation is performed, weighing past and current activities relative to future goals.
  
• Developing and presenting financial planning recommendations and alternatives. Various techniques and alternative solutions are explored. Multiple options are developed and integrated into a comprehensive plan that focuses on client needs and objectives.
  
• Implementing the financial planning recommendations. Using the assistance of other professionals as needed, we coordinate all the activities necessary to execute the plan. Without implementation, the plan has no value.
  
• Monitoring the financial planning recommendations. Ongoing reviews are essential for plan success. Regularly scheduled updates measure investment performance and determine how revisions in tax law or fluctuations in the general economic environment might impact the plan. These external variables along with changes in a client’s personal circumstances must all be examined.

This Financial Planning side of our firm is led by Deborah F. Reed, CFP.