We follow a customized six-step plan that tailors our services to the needs of each client. In our initial meeting, we seek to understand their goals, what brings them joy, and their vision of retirement. Based on this knowledge we conduct an analysis and evaluate various solutions. From there, we provide key steps toward specific financial goals and educate on the options available. With our client’s consent, we then implement solutions and provide on-going monitoring of the plan to ensure recommendations continue to support their needs and objectives.
THE FINANCIAL PLANNING PROCESS
Coming up with a solid financial plan means doing some homework—both on your part and the part of your CFP ® professional. From examining your current situation, to setting goals, to deciding how to measure your progress, Kevin is uniquely qualified to take you through the financial planning process.
In six steps, you and Grady Financial Network will:
1. Agree on how to work together -Your advisor will explain the services that will be provided and define each of your responsibilities. Along with compensation, you’ll discuss how long the professional relationship will last and how you will make decisions.
2. Gather information about your finances and set goals -We will talk about your current financial situation and gather any necessary documents. Together, you and your advisor will define your personal and financial goals, including timeframes. You may also want to discuss your comfort level when it comes to taking financial risks.
3. Analyze and strategize - Grady Financial Network will take all your finances into account and determine how to meet your goals. Our analysis may cover your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
4. Develop recommendations Next, your advisor will go over their financial recommendations, explaining the rationale so you can make informed decisions. They will address your questions and concerns and revise their recommendations if necessary.
5. Put plan into motion-You and Grady Financial will need to agree on how the recommendations will be carried out. Your advisor may carry out the recommendations himself or serve as your coach, coordinating the process with you and other professionals, like attorneys or stockbrokers.
6. Monitor progress and stay on track As you work towards your goals, you and Grady Financial Network will need to decide who will monitor your progress to make sure you’re staying on track. If the planner is in charge, he’ll check in from time to time, reviewing your situation and making any necessary adjustments to his recommendations.