Our Financial and Retirement Planning Process

Financial Planning Process
We follow the 6-step Financial Planning Process of the College of Financial Planning. This process provides a framework for the establishment of solid client relationships and enables us to provide outstanding service and positive results.

Ready For Help?

The CFP® 6-step Financial Planning Process consists of:

(click each section below for more detail)

1) Establish client relationship.

In this initial step, your financial planner will clearly define the services Freedom Financial will provide and explain your responsibilities as a client. Together you will decide how long the professional relationship should last and how decisions will be made in order to accomplish your financial objectives.

2) Gathering client data, including goals.

In this second step in the financial planning process, your Freedom Financial planner will conduct a thorough interview to gather detailed information about your current financial situation. You and your planner will mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. Your advisor will gather all necessary documentation and information during this step to provide you with sound financial planning advice. We use this step in the process to get to know you on a deeper level so  that we can begin to discern financial “fact” from “feeling.” We want to learn about your dreams and motivation, so that we can plan the most effective strategy to help you find financial freedom.

3) Analyzing and evaluating your financial status.

During step three, your Freedom Financial planner will analyze your information to assess your current financial situation and determine what you must do to meet your goals. Depending on the services you opt for, this may include analysis of your assets, liabilities and cash flow, current insurance coverage, investments and even tax strategies. We will dedicate the time needed to conduct the proper analysis prior to developing your financial plan and advising you on next steps.

4) Developing and presenting financial planning recommendations and/or alternatives.

Step four is where preparation meets action. During our second meeting with you, your Freedom Financial planner will present a personalized investment and life plan to you that addresses your specific goals.  Your advisor will thoroughly explain his recommendations, ensuring that you understand them so that you can make well-informed decisions. We will listen to any concerns you may have regarding your plan we present and make any necessary revisions.

5) Implementing the financial planning recommendations.

In step five, your Freedom Financial advisor will discuss the details of your existing circumstances and outline a “suggested implementation schedule” for executing your financial plan. We will discuss how each recommendation in the plan will be carried out and how we will measure progress along the way. Your advisor will occasionally carry out recommendations on your behalf, while at other times he will serve as your coach, mentor, and accountability partner as he coordinates the entire implementation process. This sometimes includes coordinating the combined efforts of other professionals, such as attorneys and accountants, whose efforts may also affect your financial plan.

6) Monitoring the financial planning recommendations.

In the final step of the 6-step process, you and your Freedom Financial advisor will agree on how to monitor the progress toward your goals. Acting as executor, coach, and accountability partner, your advisor will outline a process through which he will report to you periodically to review your financial situation and make any necessary adjustments to your plan.

At the conclusion of this meeting, we will schedule a 30-day review to examine all of the elements that were implemented from your plan to ensure that you and your advisor remain synchronized in understanding your evolving financial objectives, the overall strategy of your plan, its tactical execution and progress toward its measurable end. This allows us to also establish a regular service schedule according to your individual needs and asset level requirements.

You can’t predict the future, but you can most definitely plan for it. Let us be the ones to help you Plan to Prosper.™

Social media & sharing icons powered by UltimatelySocial