The Planning Process


The planning process follows a general pattern.  We usually meet initially to discuss the general aspects of your situation and see how I might be of assistance.  If you desire to, we then embark on the journey of the financial plan.  The next step is what I refer to as the 'Discovery Meeting' at which time we gather all the pertinent factual data and help you formulate goals, prioritize them and come up with some valid assumptions about your future.  This is the most important meeting as it lays the foundations for what is vital to you and begins the education process.  After the Discovery Meeting, I input the information into one or more various types of financial planning software and analyze the plan to make it as realistic as possible to your actual circumstances, making a computer "model" of your situation.  The initial output of this analysis is called a 'Rough Draft'. We meet again to review this Rough Draft for factual accuracy and realism.  Does the model realistically portray your current and desired situation?  Again, this is a very educational meeting and probably the most 'heady'. You are allowed to take the Rough Draft home and spend some time going over it and are encouraged to write down your questions and concerns in it.  We then meet again for a second review at which time I collect the plan from you to produce a 'Final Draft' from which you will be able to work from going forward.  The ideas, strategies and products identified in the written plan can then be examined in much more details at future meetings, which stage I refer to as the 'implementation' phase of the process.  This phase may last for several years. Often, during the course of time, clients may want to run 'what if?' scenarios with new facts or figures. This is easily accomplished.  As things progress, we should meet regularly, at least annually, to update the plan.  These annual reviews then produce an updated written plan.