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Financial Planning
Financial planning is a multi step and ongoing process that
establishes an individual�s current situation and future goals. The
financial planning process is intended to take a person, the on most
efficient path possible, from their current situation to their goals.
Being in the financial planning industry since 1995 and as a Certified
Financial Planner since the year 2000 Bill DeWinter is qualified to
assess, design and implement a wide range of financial plans.
A well
grounded financial plan with realistic goals and expectations is built
on six steps.
1.
Establish the client�planner engagement
DeWinter Financial will:
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Explain issues
and concepts related to the overall financial planning process
that are appropriate to you.
-
Explain the
services he or she will provide and the process of planning and
documentation.
-
Clarify your
responsibilities as a client.
-
Clarify his or
her responsibilities as your planner. This should include a
discussion about how and by whom he or she will be compensated.
Together with clients we will:
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Discuss the scope
of the client/planner engagement.
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Agree on how
decisions will be made.
2.
Gather client data and determine your goals and expectations
DeWinter Financial will:
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Obtain
information about your financial resources and obligations through
interviews or questionnaires.
-
Gather all the
necessary documents before giving you the advice you need.
Together with clients we will:
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Define your
personal and financial goals, needs and priorities.
-
Investigate your
values, preferences, financial outlook and desired results as they
relate to your financial goals, needs and priorities.
3.
Clarify your present financial status and identify any problem areas
and opportunities
DeWinter Financial will:
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Analyze your
information to assess your current situation (cash flow, net
worth, tax projections, etc.).
-
Identify any
problem areas or opportunities with respect to your:
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Capital needs
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Risk management
needs and coverage
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Investments
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Taxation
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Retirement
planning
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Employee
benefits
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Estate planning
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Special needs
(i.e. adult dependent needs, education needs, etc.)
4.
Develop and present the financial plan
DeWinter Financial will:
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Develop and
prepare a financial plan tailored to meet your goals and
objectives, values, temperament and risk tolerance, while
providing projections and recommendations.
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Present the plan
to you and establish an appropriate review cycle.
Together with clients we will:
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Work together to
ensure that the plan meets your goals and objectives.
5.
Implement your financial plan
DeWinter Financial will:
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Assist you in
implementing the recommendations discussed if you want. This may
involve coordinating contacts with other professionals such as
investment funds sales representatives, accountants, insurance
agents and lawyers.
6.
Monitor the financial plan
Together with clients we will:
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Agree on who will
monitor and evaluate whether your plan is helping you progress
toward your goals.
DeWinter Financial will:
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Contact you to
review the progress of the plan periodically and make adjustments
to the recommendations required to help you achieve your goals.
This review will include:
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A discussion
about changes in your personal circumstances and how they might
affect your goals.
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A review and
evaluation of the impact of changing tax laws and economic
circumstances.
A
review of your life circumstances and an adjustment of the
recommendations if needed as those circumstances change through life
events such as birth, illness, marriage, retirement, etc.
Remember,
it's this big-picture approach that sets a Certified Financial Planner
apart from all other financial advisors who may have been trained to
focus only on one aspect of your finances. Call and get started
today.
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