What is the financial planning process?

Financial planning consists of the following six steps.

1. Establish the relationship

• Learn issues and concepts related to the overall financial planning process.
• Explore services provided and the process of planning and documentation.
• Discuss compensation

2. Determine goals and expectations

• Through interviews and questionnaires, define your personal and financial goals, needs and priorities.
• Discuss your values, preferences, financial outlook and desired results.

3. Explore your present financial status

• Analyze information to assess your current situation (cash flow, net worth, tax projections, etc.).
• Identify any problem areas or opportunities with respect to:
  • Capital needs
  • Risk management needs and coverage
  • Investment
  • Taxation
  • Retirement planning
  • Employee benefits
  • Estate planning
  • Special needs (i.e. adult dependant needs, education needs, etc.)

4. Develop your financial plan

• Develop and prepare a financial plan tailored to meet your goals and objectives, values, temperament and risk tolerance, while providing projections and recommendations.
• Present the plan and establish a review cycle

5. Implement your financial plan

• Implement the recommendations. This may involve coordinating contacts with other professionals such as accountants and lawyers.

6. Monitor your financial plan

• We will review the progress of your plan periodically and make any adjustments to the recommendations that will help you achieve your goals.

What is the financial planning process?

Financial planning consists of the following six steps.

1. Establish the relationship

• Learn issues and concepts related to the overall financial planning process.
• Explore services provided and the process of planning and documentation.
• Discuss compensation

2. Determine goals and expectations

• Through interviews and questionnaires, define your personal and financial goals, needs and priorities.
• Discuss your values, preferences, financial outlook and desired results.

3. Explore your present financial status

• Analyze information to assess your current situation (cash flow, net worth, tax projections, etc.).
• Identify any problem areas or opportunities with respect to:
  • Capital needs
  • Risk management needs and coverage
  • Investment
  • Taxation
  • Retirement planning
  • Employee benefits
  • Estate planning
  • Special needs (i.e. adult dependant needs, education needs, etc.)

4. Develop your financial plan

• Develop and prepare a financial plan tailored to meet your goals and objectives, values, temperament and risk tolerance, while providing projections and recommendations.
• Present the plan and establish a review cycle

5. Implement your financial plan

• Implement the recommendations. This may involve coordinating contacts with other professionals such as accountants and lawyers.

6. Monitor your financial plan

• We will review the progress of your plan periodically and make any adjustments to the recommendations that will help you achieve your goals.