Broker Check

7 Step Planning Process

1. Initial Meeting

  • Talk about goals, values, dreams, special concerns and challenges.
  • Discuss the different approaches to planning and begin to establish scope of relationship.

2. Data Gathering

  • Intake of information regarding all areas of finance.
  • Review financial documents.
  • Discuss risk tolerance and values around money and investing.
  • Collection of all information needed to begin plan development. 

3. Preliminary Plan Development

  • Compile information into first draft of financial plan.
  • Develop initial strategies and coordinate with specialists.
  • Prepare for draft meeting with client.

4. Draft/Strategy Meeting

  • Present and review initial findings, strategies, and recommendations.
  • Make any adjustments or corrections to baseline information.
  • Collaborate and develop plan scenarios and alternatives.

5. Plan Completion & Formalization

  • Integrate any new or updated information into plan.
  • Final development and review of plan.
  • Prepare Client Action Plan and any documents or applications based on final recommendations.

6. Plan Delivery & Implementation

  • Present and discuss any new or alternate strategies and review key points of plan.
  • Open any new accounts, complete applications as needed, develop ongoing review schedule based on the planning approach taken.

7. Ongoing Monitoring & Plan Review

  • Review existing investment and financial planning strategies and present as needed.