Once your financial plan is implemented and you are organized, it is important to monitor your progress toward acheiving your goals. Life happens and over time you will find that changes in your life will require changes in the way you manage your finances. By taking a critical look at at your progress periodically, it is possible to identify these changes and any actions you should take to stay on track.
We offer this monitoring service in the form of an annual retainer which like all our services can be tailored to fit your needs and objectives. Since we charge strictly for the work we complete for you, there are no minimum income or investment requirements.
An annual reveiw is included in this work and consists of an analysis of your investment portfolio (which is monitored in a monthly basis), an update to your progress toward acheiving your financial goals (e.g retirement, college funding, etc) and any other aspects of your current situation (e.g risk management, estate, cash flow) that needs to be changed to keep you on track.
A Network of Financial Expertise
Our services like our planning process are modular, enabling you to purchase as little or as much help as you need. There are three service activities that we use for all our clients and consist of:
Financial Assessment- This activity analyzes and evaluates the aspects of your finances needed to identify both the strong points and weak points of your present approach and how it fits your financial and life goals. Depending on your needs, a limited set or full range of your finances can be evaluated to determine the best course of action to get you back on track. A formal report is then created from this work that identifies an approach or plan to enable you to reach your goals. Once this initial work is completed, you can, at your option implement the plan yourself or elect to continue working with us in the implementation phase
Implementation-Under your direction, we will take the necessary action to assist you in implementing the course of action identified in the Financial Assessment. These actions may consist of purchasing a specific mutual fund, creating a revocable living trust with health care documents or perhaps creating a complete investment portfolio design tailored to your financial goals and risk tolerance.
Monitoring-Although this is the last phase of our process, in many ways it is the most important. We monitor your situation throughout the year and create an annual report that reviews your progress toward achieving your financial goals. This report includes investment performance information, and progress reports on meeting your financial goals such as retirement at age 55, college funding, or charitable giving from your estate.
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