Six-Step Financial Planning Process

We use the six-step financial planning process, as established by the CFP Board of Standards.

1. Establishing and defining the client-planner relationship
Getting to know you, your goals, concerns, ideas, and expectations.

2. Gathering client data, including goals
Collect information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. Gather all the necessary documents before giving you the advice you need.

3. Analyzing and evaluating your financial status
Using our tools, we can then take a closer look at where you are at, where youd like to be, and start identifying gaps in your plan.

4. Developing and presenting recommendations and/or alternatives
If there were any gaps identified in step 3, we will offer recommendations to help you get toward the goals we identified in step 2. This is not black and white, and we will listen to your concerns and revise the recommendations as appropriate.

5. Implementing the financial planning recommendations
The planner may carry out the recommendations or serve as your "coach," coordinating the whole process with you and other professionals such as attorneys or CPAs.

6. Monitoring the financial planning recommendations
It is crucial that we make sure the plan stays relevant. Unexpected events, good and bad, can happen, and we need to know about these things, to make sure we adjust accordingly.

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