planningperspectives

How to engage our services Financial planning is contracted at a reasonable hourly rate of $150. In order to have a better understanding of what happens when a client works with Financial Perspectives on a financial plan, here is a brief description of our process:

Establish and define relationship with prospective client: In the intial contact phase, both the client and financial planner seek to learn more about each other. To that end, an over-the-phone contact and/or a face-to-face meeting are conducted free of charge. Client details the type of financial guidance he is looking for, and if it determined that we can help them, a quote is worked up for the scope of the project discussed. Unlike most other financial planning service providers, clients can engage us for “topic-specific” advice rather than having to pay for a full financial plan. This allows clients to keep expenses down and receive the answers they are specifically looking for.

Collect client's information: Once the client has agreed to engage with Financial Perpectives by signing the Hourly Services Contract, the financial planner will gather the pertinent information required to answer the needs defined in the scope of engagement. Clients are asked to fill out a brief questionnaire to gather personal data and provide any documentation necessary to start the project, such as account statements, prior year tax returns, etc. During this time, we will continue to ask questions to confirm the needs originally defined when establishing our relationship.

Analyze and assess client's financial status: Using data gathered, we analyze the situation in order to provide the client with the best objective advice. We then organize the results of our analysis into the financial plan which we present to the client. The plan consists of the following key elements: A summary of our analysis, including data gathered, assumptions used, results and recommendations; supporting documentation generated through our analysis; and a list of action items that must be completed to implement the plan.

Discuss the plan with client and implement recommendations: The financial plan is presented to the client at a meeting where we go over the details in person. This gives clients time to ask questions and request any changes to assumptions made. Once all the client’s questions have been answered satisfactorily, responsibility for the action items generated because of the analysis must be decided. Clients have the option to either employ us to help in the implementation process or do it themselves.

Monitor and review client's situation: Regardless of whether or not we help with the implementation process, we contact the client within three months as a courtesy to check on the progress of their plan. After which we agree on terms for review of the client’s situation, though client is always able to contact us in the interim should changes to their situation that affect the initial plan arise.