A SYSTEMATIC APPROACH TO BUILDING YOUR COMPREHENSIVE FINANCIAL PLAN
At AHC we believe that we can’t invest your first dollar until together we have constructed your comprehensive customized financial plan. The process below lays out in detail how we will work with you to develop your financial plan. Throughout the process we will listen to you carefully, ensuring that your plan is built to match your unique needs.
Here is a very detailed look at the steps in the process that you will experience:
1. Establishing and defining the client-planner relationship.
We will clearly explain and document the services to be provided to you and define both our responsibilities as an advisor and yours as our client. We will help you understand the benefits of using a fee-only advisor – specifically that we will be paid only by you, the client, and will not receive commissions or other compensation from the investments you make. In addition everything that we discuss will always be held strictly confidential.
2. Gathering data about you and your goal discovery
As we begin the work of building your comprehensive financial plan, we will ask for detailed information about your specific circumstances. This is not a worrisome step; instead, this allows us to get a comprehensive understanding of your unique circumstances so we can build a customized financial plan. At this step our job is to listen, learn, and then facilitate a constructive dialogue. We will work together to mutually define both your life goals and your financial goals, and explore how you feel about risk. It is in this step that we will explore in detail your life goals.
3. Analyzing and evaluating your financial status.
Next, we will analyze your information to assess your current situation and determine how we can help you achieve your goals. This will include analyzing your assets, liabilities and cash flow, current insurance coverage, investments, estate circumstances and tax position.
4. Developing and presenting your comprehensive financial plan.
We will deliver financial planning recommendations that focus on your goals, based on your unique circumstances and the information that we gathered from you. Our job is to deliver a plan that will help reduce the stress that so often accompanies our concerns about finances. Although it may not seem apparent at first, a financial plan is actually a life plan. We will go over the recommendations with you in detail to make sure you understand them so that you can make informed decisions. We will listen to your concerns and revise the recommendations as appropriate.
5. Implementing your specific financial planning steps.
We will then put the recommendations and strategies that were specifically designed for you into action. In most cases, we will implement these strategies by building a broadly diversified, low-cost portfolio of investments that is custom designed to fit your needs. Your portfolio will be designed to take advantage of the best academic research.
6. Monitoring the financial planning recommendations.
As a wealth management client you will receive a quarterly performance report from AHC that gives you a detailed picture of how your life plan is progressing. Your investments will be held in safekeeping by an independent third-party custodian, who will also send you financial statements ensuring that your assets are held securely. We will review your situation regularly and will work with you to adjust your plan as your life changes. At a minimum we need to meet with you annually to review your circumstances and adjust your plan to fit your evolving circumstances.
Are you ready to get started on your path to a more secure financial future? Contact us today to see how AHC Advisors can help put you on a path to achieve your life goals.