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Collaborative Planning

Dynamic Solutions Based On Your Particular Needs

When it comes to financial planning, we coordinate with our clients to gain an understanding of their overall financial picture by discussing cash flow, budgeting and debt consolidation. Part of our Discovery Interview process involves approaching your experiences with money, any lessons you’ve learned and your overall attitude when it comes to managing your wealth.

You may be approaching retirement or considering the purchase of a new home - no matter your questions, we’ll discuss the goals you have in mind and the experiences you want to have as we gauge what your priorities are. Outside of retirement and income planning, we’ll help you process your decisions around debt, budgeting and behavioral finance.

Specific Planning Areas

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Education Planning

We ask questions regarding your desires to fund education for yourself and your children. During our Discovery Interview process, we’ll discuss the importance of education in your life and that of your children and grandchildren. By asking questions regarding your desires to fund education, we’ll discover the meaning behind such planning and the possible outcomes available.

We discuss details of the education our clients plan to fund including, but not limited to:

  • Tuition Costs
  • Specific Institutions
  • Desired Years of Education to Fund

In order to do this, we’ll review your current resources in qualified retirement, after-tax and education-specific savings vehicles. We then analyze your current course of action to see if any adjustments need to be made.

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Retirement Savings and Income Planning

We participate in an in-depth, collaborative cash flow planning process with our clients, which generally serves as the foundation for determining retirement savings needs. This typically involves specific details regarding:

  • Income
  • Expenses
  • Current Balance Sheet

Together, we’ll discuss your attitude surrounding important life decisions, such as your retirement date or purchasing a new home. We’ll also approach the milestones you would like to reach and the experiences you want to have in order to gauge your priorities.

You may need us to create analyses regarding:

  • Social Security Claiming Options
  • How to Handle Existing Annuities
  • Pension Lump-Sum Offers
  • And a Variety of Unique Situations

We test different scenarios with a cash flow projection to see what variables have the most significant impact on plan success. You may also need our help determining the most efficient account types for saving for retirement, and if you are a business owner, selecting an appropriate retirement plan for your business.

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Risk Management and Insurance Planning

We ask questions regarding your current insurance coverages and may request additional documentation to review. The types of policies we generally discuss are:

  • Life
  • Health
  • Disability
  • Long-Term Care
  • Umbrella Liability

We do not typically advise on property and casualty insurance coverages. As part of our Discovery Interview process, we may ask if you work with any insurance professionals, but we save any necessary analysis for future meetings. Together, we’ll review your current coverage and assess the appropriateness based on your current situation.

In order to help you determine appropriate insurance coverage, we’ll incorporate the details of your cash flow and current retirement savings. We’re heavily involved in the implementation of retirement savings and income planning by providing an action plan based on our recommendations.

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Estate Planning

When it comes to your estate, we’ll gather information regarding the titling of your accounts and make legal updates as requested. We also keep on file your beneficiary designations for the accounts we manage. For applicable clients, we generally ask for copies of trust documents for our records. During our Discovery Interview process, we may learn more about your personal relationships and/or touch on your legacy wishes as well.

Together, we’ll read trust documents to gain an understanding of any associated nuances. This is only done in the interest of informing you of the potential impact certain trust provisions may have on your financial plan. We may also help you understand what assets would be most tax efficient to your heirs. If your estate will likely be taxable, we may coordinate a net to heirs calculation.

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