Financial Planning

Getting from here to there


The Financial Planning Process

1. Initial Consultation

We discuss the client’s financial planning needs and our services and fees. We use this free session to decide if we are a good match for the client’s needs.

2. Sign Planning Agreement

The agreement allows for three to four months of unlimited financial planning. This is ample time to gather information, create a financial summary, discuss and define financial goals and issues, and develop recommendations.

3. Gather Financial Information

We provide access to a secure online questionnaire that steps you through the data gathering process. We also request recent copies of your earnings and leave statement, TSP statement, tax return, and other relevant documents.

4. Create Financial Summary

The client is presented with a financial summary that includes a personal balance sheet, net worth statement, and an inventory of assets, liabilities, and insurance. The summary allows us to fully understand the client’s financial situation and to identify any problem areas.

5. Discuss Goals and Issues

Now that we have all the background work completed, we can create strategies for resolving issues and achieving financial goals.

6. Recommend Actions

At this point we are able to make specific recommendations for each financial issue. This most often includes recommendations for the following areas:

  • Retirement scenarios: We create very accurate “what if” retirement scenarios based on various retirement dates, and your income from FSPS, Social Security, TSP, part-time work, and other income sources.
  • Investments: TSP allocation, IRA accounts, and overall investments.
  • Insurance: FEGLI or other life insurance, liability (personal and professional), healthcare, and homeowners.
  • College savings plans.
  • Home purchase strategies.
  • Estate planning.
7. Implement Plan

We assist clients in implementing our recommendations, as needed.

8. Monitor Plan

Since the standard planning agreement is time-limited, the client will monitor the plan according to a schedule we provide. Clients for whom we have an ongoing relationship, montoring is provided through periodic reviews.

The Services We Offer

We have two ways of working with clients:

1. Short-term engagement to create a financial plan. This option allows for three months of collaborative planning to address all of a client’s planning needs.

2. Ongoing financial planning support. This option is available to clients who want us to manage their investment portfolio. It includes continuous financial planning support in additon to investment management.

Flexible Meeting Options

Client meetings can be conducted in person, by phone or via web-conference.

Leading-Edge Tools

The industry-leading software we use for developing financial plans allows clients to participate in the planning process and to create multiple “what if” scenarios.