Much like taking care of your health, Seasonal Financial Planning involves regular check-ups with a trusted advisor whose expertise you can rely on.
We start with a COMPREHENSIVE FINANCIAL PLAN to fully understand your financial situation and develop a roadmap to help you achieve your goals. However, because your life is constantly evolving, so is your need for financial planning. Seasonal Financial Planning is an ongoing approach to financial planning that breaks it down into seasons. We meet 4 times per year, either virtually or in person, to discuss whatever is top of mind as well as the following core areas.
We start each year with a discussion about your goals. We talk about your short-term goals, such as reducing debt or increasing your savings as well as your long-term goals, such as retirement or college funding, and how you are progressing for each of them. Each year we recalculate where we stand, re-evaluate our expectations and possibly re-set our strategies moving forward. Additionally, as this season coincides with the tax filing deadline, we will prepare and file your tax return through a collaboration with our partner firm, NexJenn CPA, Ltd.
During our second meeting, we incorporate the criteria set in the Goal Tracking meeting and use it to analyze your portfolio. We take into consideration your risk tolerance, investment time frames and set the overall asset allocation approach we will be using for the next 12 months. Once set, we will continue to propose adjustments throughout the year as necessary.
During this meeting we will review your financial well being and security. We’ll build a financial safety net by managing your cash flow and getting you out of debt. We’ll monitor cash flow to make sure you are on track to meet the goals we established in the first season and ensure your portfolio is properly positioned for short term cash needs. We will also make sure your estate is in order by confirming that your legal documents and your assets complement each other. If necessary, we will work with your attorney to update your documents and strategies. At this meeting we will also discuss legacy and charitable wishes.
This meeting will contain your Annual Insurance Review where we will address your need for Life Insurance, Disability and Long Term Care planning.We have scheduled this meeting to coincide with most employers’ benefit enrollment period, which allows us to focus on employee benefits and incentive compensation. Finally, we take time to see if there are current tax planning strategies that you can employ before the end of the year.
Maybe you just want a framework that you can use as a guide to implement on your own?
If that’s the case, we’ll collaborate over a period of 12 weeks to develop a Comprehensive Financial Plan that you can implement on your own. We will work together to identify your priorities and develop a path to better financial decisions based on what works for you. Should you decide that you want our assistance implementing the plan, then we can transition into Seasonal Financial Planning.
Our clients prefer to have us manage their investments to ensure their carefully crafted financial plan is carried out. Therefore, we have teamed with XY Investment Services to provide investment management at a fixed fee that is lower than the industry standard. We do not charge commissions.