Principle 8 - Client-Centric

Our financial planners apply a 7-Step Financial Planning Process. Ranked and quantified goals are central to the following steps:

• Understanding the Client's Personal and Financial Circumstances: This initial step involves gathering both quantitative (e.g., income, assets, liabilities) and qualitative (e.g., health, family circumstances, values, attitudes, expectations, risk tolerance, objectives, needs, priorities) information. Understanding the client's current situation is essential for identifying realistic goals.
• Identifying and Selecting Goals: This is a distinct and crucial step. We
  • Discuss client's circumstances with the client.
  • Help the client identify potential goals.
  • Discuss and apply reasonable assumptions and estimates (e.g., life expectancy, inflation rates, investment returns) when defining goals.
  • Help the client select and prioritize goals, discussing any goals that may be unrealistic.
• Analyzing the Client's Current Course of Action and Potential Alternative Courses of Action: We analyze whether the client's current actions are maximizing their potential for meeting their goals. As necessary our planners explore and analyze alternative courses of action that do aim to maximize goal achievement.
• Developing the Financial Planning Recommendation(s): Recommendations are developed with the primary objective of maximizing the client's potential for meeting their identified and prioritized goals. We tailor advice to specific client objectives.
• Presenting the Financial Planning Recommendation(s): When presenting recommendations, we compare how proposed plans improve on the current situation by increasing after-tax income, generating larger transfers to heirs, or giving more to favorite charities.
• Implementing the Financial Planning Recommendation(s): The implementation phase focuses on selecting and putting into action the strategies, products, and services that align advisory team members to achieve the client's goals.
• Monitoring Progress and Updating: Across 4 phases of the planning process, we monitor the progress toward achieving goals. We seek to update plans as goals, asset values, tax laws or other variables change. We promote an holistic view of financial planning so that all aspects of a client's financial life are considered in relation to their goals. Our 6-sided planning process looks at risk management, investments, lifetime income tax planning, estate planning, business succession, and charitable planning. Our process integrates solutions to help clients achieve their desired life outcomes.