The Financial Planning Process

Jennifer works with her clients in a collaborative way to create a financial plan. The plan is based on the unique needs and goals of the client and their particular situation. She endeavors to understand them and their desired lifestyle in order to develop an appropriate plan.

Following are the steps taken in creating a plan for "you", the client:

  1. Establish a relationship with you and define mutual responsibilities. In this step, she will also discuss fee structure and length of relationship.
  2. Gather your data and establish goals. This is perhaps the most important step as she gets to know you better. She gets a better understanding of your financial situation today and where you want to be tomorrow. She collects financial records and documents, and she assesses your tolerance for financial risk.
  3. Analyze and evaluate your financial situation. Jennifer considers all aspects of your situation to determine what you need to do to meet your goals. She takes into consideration the current economic climate including tax laws.
  4. Present financial recommendations to you. She makes her recommendations to you, explaining her rationale, advising you so you can make informed and healthy financial decisions.
  5. Implement the plan. She will discuss with you and come to an agreement on how to implement the plan. Together you will determine the action steps, and who is responsible for carrying them out. She may carry out some; serve as your coach for you to do some; and coordinate with other professionals such as your attorney.
  6. Monitor your plan. Your financial plan is fluid. Things change, such as the financial markets, your job situation, your marital or family situation, and your goals. It's important to monitor the plan to make sure you are on track and make any necessary adjustments.