Our Planning Process
Our planning process has evolved over the past two decades to what it is today. We incorporate a team approach when evaluating, crafting and implementing your financial plan. Drawing on the intellectual resources of dedicated, experienced professionals, we ensure that all areas of your financial well-being are addressed. Click on a link below for more details.
Goal Planning is tied into every aspect of your financial plan. For each goal we create a detailed written plan defining the goal, establishing a time frame to successfully reach the goal and determine the most suitable means of achieving the goal.
Your goals are as important to us as they are to you that is why we review the progress towards reaching your goals at every tri-annual meeting. Furthermore, one meeting during our annual meeting cycle is dedicated to an in-depth review of your current goals to determine if an existing goal needs to be revised in any way or if a new goal needs to be added to your plan.
Our philosophy is one that has evolved over time based on our experience in the market and changes to the delivery channels for investment advice. We follow the basic tenants of Modern Portfolio Theory which allows that a properly diversified portfolio can reduce the risk of loss and over time generate consistent returns. Diversification is achieved not only between asset classes but also within asset classes which further mitigates risk by dispersing it along the spectrum of available investment options.
Within the framework of your financial plan the elements of risk are present in a variety of places. As part of our planning process, we perform a risk assessment and create a customized strategy to ensure that you are properly protected. Our approach to risk management is to identify the various risks, evaluate your exposure, recommend a course of action and monitor your progress towards limiting or eliminating those risks. Some types of risk you may be exposed to are:
Investment return can be impacted by a number of factors which we address when constructing your portfolio strategy. Portfolio diversification, periodic rebalancing, and a clearly defined exit strategy are examples of the steps we take to limit the risk exposure to your investments.
When assessing lifestyle risks we're looking at those risk which if realized would cause a significant financial hardship. Examples of lifestyle risk are premature death, serious health issues, short term or permanent disability, loss of property and loss of income to name a few.
These risks include income taxes, estate taxes, real estate taxes and other taxes and levies which you may be liable for due to regulatory requirements.
If you own or are a partner in a business we make sure that your interests are adequately protected by reviewing your buy-sell agreements, business continuation insurance policies and other commercial policies you may have.
While April 15 comes only once a year the impact that taxes have on your income, savings, and investments can be felt throughout the year. By analyzing your tax returns and your current situation as well as future scenarios we are able to identify potential strategies which can limit or eliminate the impact that taxes may have on your financial well-being. Working with our tax experts or your own tax professional we ensure that you are receiving the maximum benefits you're entitled.
When developing your income plan it is important to consider not only your current income but also anticipated future sources of income. A well thought out and implemented income plan will serve you well while you're working and it is also the basis of a happy and fulfilling retirement. A carefully crafted retirement income strategy can give you the peace of mind in knowing that no matter what may be going on in the world or in the financial markets that you have a plan in place to adequately support your lifestyle.
The essence of your estate plan is to have a road map that shows how you would ultimately like to distribute your estate upon your death in the most efficient means according to your wishes. An estate plan is a dynamic plan which evolves over time. Besides considering ways to minimize the effects that taxes might have on your estate, your plan also serves as an outline of your present and future gifting strategies and serves as the foundation of your legacy. As your adviser, we work closely with our estate experts or your estate attorney to devise and implement an appropriate strategy for you. Your plan could be as simple as a basic Will, or it may feature more advanced planning techniques utilizing various forms of trusts.
Beyond minimizing your potential tax liability, we examine how your various types of property are titled to ensure that your ownership is fully protected. Additionally, we look at your current and future income needs and analyze the impact that a premature death might have on your sources of income and devise a plan to minimize or alleviate the possible effects that such an event could have on your lifestyle or that of a loved one.
Financial Planning is a dynamic process in that your plan changes and evolves over time. Our purpose-driven approach allows us, through our ongoing meeting cycle, to view your financial life from a holistic standpoint and to make recommendations based on your current information. By meeting with you on a scheduled basis we are able to more fully monitor your progress towards achieving your financial goals. It is our belief that a well-designed plan, based on values that are important to you and properly implemented and monitored, offers a high probability of successfully achieving your goals. That is why we take a comprehensive planning approach coupled with a tri-annual meeting cycle and supplemented by regular conversations between meetings. This open communication process ensures that we are working together for the common purpose of the successful execution of your plan.