8877 West Union Hills Drive,
Based on experience with our clients, we use a finely tuned process through LPL Financial that will lead you through the six stages of financial planning. This detailed and comprehensive process has received national recognition from the Financial Planning Association (FPA®).
We begin by discussing how we can work together to develop and implement your financial plan. We need to understand your financial situation, but we also want to help you define your goals. We start the process by:
The more detailed information we can obtain, the more customized and accurate your personal financial plan can be. We conduct a holistic audit of your current estate, investment and business owner situation (if applicable). Based on this information, we develop a comprehensive financial condition model of your current situation, including cash flow, tax reduction strategies and estate distribution projects. Highlights of this stage include:
We analyze information gathered from the financial condition model to identify gaps and opportunities between your current financial planning and your objectives and risk tolerance. This helps us determine to what extent you are meeting your financial goals ,with your current strategy. This stage focuses on:
Based on your input and our analysis, we offer alternative strategies and identify solutions that are an appropriate fit for your personal situation, and most importantly, are consistent with your objectives. This stage – one of the most important in our process because it is where the financial planning takes shape – includes:
We present the specific recommendations that will help you towards meeting your needs, and discuss the pros, cons, risks and costs for each recommended alternative. This helps ensure that you will make an informed decision. Some aspects covered in this stage are:
Many factors can impact the viability of your financial plan in the future - a life event, unexpected expenses or income, a change in taxes, etc. We meet with you to check the status of the financial plan by comparing actual results to initial assumptions to determine if adjustments need to be made. This final stage of the process centers around:
*There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal.
If you are nearing retirement, I urge you to focus on “retirement readiness.” While this is a new concept in the retirement community, it comprises more than financial planning. Additionally, it focuses heavily on social, family, emotional, and physical planning for retirement. You cannot simply “retire” anymore; you must begin non-financial retirement planning.
Receive your FREE book, The Art of Retiring Whole: A Non-Financial Guide to Retiring with Purpose, Productivity and Endless Possibilities by Ryan S. Kidd, CRC® by emailing us at Coreen@vfateam.com!
LPL Financial was not involved in the creation or promotion of this book. LPL does not endorse the book, is not responsible for the content and does not guarantee the accuracy of any information or material contained therein.