STEP ONE

First Meeting

• Introduction and Identify Client Goals

• Review FP & RIA Services and Fees

• Establish Advisory Relationship

STEP TWO

Gather Information

• Client Data: Assets, Debts, Income and Expenses

• Financial Goals and Risk Tolerance Meeting

• Preparation Checklist

STEP THREE

Analyze

• Evaluate Financial Resources and Future Goals

• Financial Reports

• Financial Planning Checklist

STEP FOUR

Present  Recommendations

• Comprehensive and Holistic Financial Plan

• Customized Approach to Align Investments with Goals

• Illustrate Scenarios

STEP FIVE

Implement Financial Plan

• Establish Accounts and Transfer Assets

• Invest Assets

• Follow up on Financial Planning Tasks

STEP SIX

Monitor Plan and Investments

• Quarterly Performance Reports

• Asset Allocation Review and Rebalancing

• Financial Plan Annual Update

STEP SEVEN

Meet Regularly

• Adjust and Update for Life Changing Events

• Monitor Advancement Towards Goals

• Ongoing Service and Communication

You and Your Family

• Identification – Driver’s license or passport

• Names of children and grandchildren, including their dates of birth

• Beneficiaries of retirement accounts, life insurance, annuities, etc.

Cash Flow and Debt Management

• Income sources and expenses

• Mortgage (original balance, interest rate, term, current balance)

• Details of other debts (credit cards, auto, student loans, personal loan, etc.)

• Copy of recent tax returns

• Retirement age and spending goals

Investment Management

• Recent statements from…

  • Bank checking, savings, money market, and CD accounts
  • Investment accounts (individual, joint, trust, etc.)
  • Individual retirement accounts (IRA, Roth, SEP, etc.)
  • Employer retirement plans (401(k), 403b, 457, etc.)
  • Annuities
     

• Other assets (home, real estate, business, collectibles)

• Liabilities (mortgage, credit cards, car loans, student loans)

• Voided Check (for bank link to accounts)

Retirement Planning

• Social Security benefit statement [available at ssa.gov]
• Statement of benefits from employer-based pension plans, veterans’ benefits, etc.
• Annuity contracts
• Retirement Plan contributions

Risk Management

• Long-term care policies

• Life Insurance policies

Legacy Planning

• Copy of trusts for which you are the grantor and/or trustee

• Status of your will, Powers of Attorney (date signed, date last reviewed/updated, etc.)

• Inheritance situation

• Special Needs