It Starts with You.
Our process begins with getting to know you, your aspirations, lifestyle, and unique financial goals. The more we understand about your family, business, and financial situation, the more effective we can be in building a financial plan that will address your short, medium, and long-term financial goals. We believe the planning process is critical to starting the journey to financial security. It is the first step where you invest time with us to plan your future.
So, what are the steps?
1. Initial Contact and Introductory Meeting
After contacting us with some brief personal and basic financial information, our team will schedule a free Zoom consultation, where we will review your goals, priorities, needs, and family or business financial situation. Our investment advisor will explain our high-level investment approach, the fee structure, and Charles Schwab's role as custodian. We will review your expectations compared to our ability to serve your needs. If both parties agree, we will proceed to the next step in building the relationship.
2. Exploration & Preliminary Plan
After our first Zoom meeting, we will take a deeper dive into your situation. Once we have a more detailed conversation about your personal and financial goals and gather necessary financial data, we will create a draft pro forma investment plan. Our team reviews the plan with you and answers any questions. Once a client agrees to move forward with a detailed financial plan and investment strategy, we will provide the Investment Advisory Agreement and discuss a mutually agreeable fee structure. Your investment advisor will schedule the next steps in the process to build your comprehensive financial plan.
3. Detailed Plan
Now that we have a foundation, we can deliver an easy-to-follow roadmap that will identify key life changes and decision points you will likely encounter and ensure we address those in your financial plan. When creating this plan, we evaluate your needs, risk tolerance, and critical milestones. We will construct a long-term plan covering your expected contributions to the plan, work and income expectations, budgeting suggestions, expected investment outcomes and risks and estimated cash flow needs like living expenses, insurance, education, retirement, and charitable giving. Your advisor will review the plan with you, and if you agree to work with Concierge Financial Advisor LLC, you will sign the Investment Advisory Agreement.
- When choosing someone to design and manage your financial plan, there are four key considerations:
- Your current and future cash flows over time and how those cash flows can grow consistent with realistic expectations.
- Your risk tolerance and comfort with the investment horizon, estimated risk (annual volatility), uncertainty in the environment, and various what-if considerations impacting you.
- Does the firm's plan demonstrate an ability to navigate through changes in your life, an altered environment, and manage risks effectively?
- Is there a mutually agreed-upon level of engagement to cover future financial decisions, reviews of investment performance, and the frequency of strategic or tactical changes to the plan?
4. Ongoing Support & Advice
Life is constantly changing, and your goals might change too. Once you are a member of the Concierge Financial Advisor family, we will be there for all ongoing support and changes. When new priorities lead you to accept changes in family or business needs, cash flow or expense adjustments, changes in inflation or growth forecasts, or new taxation rules, our team will adapt your plan so it transitions along with you.
Contact us today to register for a virtual introductory meeting as the first step on the journey to financial security.
