The Planning Process – Ongoing Partnership

I wanted to write about the way we approach the financial planning process in order to take the fear of the unknown out of how we begin to work with our clients.  The process will be broken into four separate posts and will hopefully illustrate the ease to taking the step to getting control of your financial future.

This is the fourth post which discusses the final step in the financial planning process.  The first post detailed the first meeting (the discovery meeting) and how it is the initial point of reviewing your current situation while discussing what your goals are  for the current time frame and into the future. It allows us to help you clarify what you are trying to achieve and review what you currently have in place.

The second meeting detailed how we bring out insight to help you achieve your goals with a personalized financial plan.  The third step is answering any remaining questions and the filling out of the necessary forms and paperwork. The fourth and ongoing step is establishing the new custodian accounts and building a relationship into the future.

Working Together Teamwork Puzzle ConceptOnce the paperwork has been submitted for processing, you will receive updates from us on the status of your accounts and the transfer of funds into your new accounts.  This process will take approximately two weeks in order to establish the new accounts and transfer requests are processed.  Once the account transfer is complete, your accounts will be traded to build the portfolio allocation as we have discussed  for each of your accounts.

We then review the accounts quarterly to ensure that the allocations remain close to the determined target percentages.   If need be, we will re-balance the accounts to assure that your accounts stay within the targeted allocations.

You will receive documentation on the new funds that you accounts are invested in as well as information on your new custodial accounts.  We will provide instructions on how to set up your account name and password for the Loring Ward site where you will be able to view the status of your accounts as well as other financial information from industry experts.  In addition, you will begin to receive our weekly posts via email from Roots of Wealth, our blog, which deals with topics which relate money to life. You can also access any past blog posts at www.rootsofwealth.com.

We encourage you to contact us at any time with questions regarding your accounts or any other aspect of your life that we might be of assistance.  In addition, we will meet annually (or sooner if necessary) to review how the original plan is faring and if your life goals are still the same or if we might need to adjust the plan.  We encourage you to let us know of any important family or work issues as they may occur between meetings.  Our goal is to work in partnership with you to ensure the success of your financial life.

The key to a successful partnership is working together and we at Crimmins Wealth Management are available to help you achieve what is important to you.

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About Maureen Crimmins

Maureen Crimmins is co-founder of Crimmins Wealth Management and a fee-only independent financial advisor. Have a financial question? ASK MAUREEN

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