Financial Planning
At WealthWise we believe in developing a plan for your financial future that is balanced for living today and planning for your bright future. A plan is successful only if you can live by it. Therefore, we tailor a plan specifically for you according to your needs and desires for your future. This is typically the service where our long-term partnership begins.
Our approach to financial planning is a collaborative effort with our clients. Each step in the process involves interaction between the client and their advisor to ensure that the best possible financial decisions and outcomes can be achieved. It is our job to make sure that you have all the tools and information necessary to make decisions and reach your financial objectives. Our planning process provides a guide for working together to achieve financial success and security.
The WealthWise Planning Process
Our process has been established to provide a comprehensive view into your financial needs, objectives and goals. The following provides a high level overview of our process:
Partnering
We work together, discussing your life now and what your vision and dreams are for you and your family’s future. We carefully listen to you as you share your financial concerns and work with you to identify your goals and objectives. In this step we also take the time to carefully explain the various services that we offer, educating you on the tools we have available, and patiently answering any questions you may have. We then provide a packet of information for you to fill out along with a risk assessment. From this information, we begin to draft your plan.
Design
In this step your WealthWise team will analyze the information that you share with us and work with our experts to develop solutions and strategies to meet you financial objectives. Once we have a draft, we will meet with you to present your preliminary plan and review our recommendations. We recognize that life is ever-changing so we typically include a range of scenarios and alternatives for your consideration. From this meeting, we finalize your plan and provide a copy to you, including next steps and recommendations for you and your family. The plan includes a recommended portfolio allocation based upon your goals and risk tolerance.
Implement
From this point forward, most financial planning clients become wealth management clients and we become even closer partners for your financial security. As a wealth management client, we assist in implementing your customized financial plan and related investment strategies. This includes the selection of financial products, account types, and working closely with you to complete the related paperwork.
Manage
Once a plan has been implemented, we regularly monitor the progress of our recommendations and the probability of achieving your financial objectives. At this step with continue to work closely with you to identify events or situations that may require adjustments to the plan and goals. Most importantly we regularly communicate to you your overall progress.
Review
A plan should be fluid and dynamic, changing as our lives change. Therefore, we believe in updating and reviewing client financial plans on an annual basis and we offer this service without charge to those financial planning clients that naturally migrate to become wealth management clients.