7 STEPS TO FINANCIAL SUCCESS
The Garrett Planning Network’s 7 Steps to Financial Success is a win-win approach to financial planning for clients and advisors. It spells out step by step a simple-to-understand-and-implement approach to building a solid financial future.
|
Step 1
Initial Inquiry ADVISOR’S RESPONSIBILITIES: Provide a brief description of our services, philosophies, methodology, and fee structure. CLIENT/CONSUMER’S RESPONSIBILITIES: If the advisor’s services appear to fit your needs, he or she will schedule a free "Get Acquainted" Meeting in person or on the telephone, and at the same time provide you with additional information to help you learn more. Step 2 Get Acquainted Meeting ADVISOR’S RESPONSIBILITIES: Meet with you free of charge in person or via teleconference. It’s an opportunity to exchange information about your needs and objectives, to further discuss which of our services are right for you, and to provide you an estimate of the cost of our services. Remember, we do not accept commissions, and instead charge for their services on an hourly, as-needed basis. CLIENT/CONSUMER’S RESPONSIBILITIES: If you choose to use our services, we will provide a list of additional information needed to begin formulating your personal financial plan. Step 3 Data Gathering and Initial Preparation ADVISOR’S RESPONSIBILITIES: After receiving your information, we will begin to review and develop your custom financial plan. We will prepare initial reports and discuss options with you at your next meeting. CLIENT/CONSUMER’S RESPONSIBILITIES: You will need to gather the requested data and then complete a provided risk tolerance questionnaire. Step 4 Interactive Goal Setting ADVISOR’S RESPONSIBILITIES: Depending on your individual circumstances, this meeting may or may not be necessary. If it is, it can be in person or via teleconference. The advisor will work with you to further discuss and clarify the information you have provided, and to refine your financial objectives. CLIENT/CONSUMER’S RESPONSIBILITIES: This is another opportunity for you to clarify your current situation and to discuss with your advisor any additional questions and concerns. |
Step 5
Analysis and Plan Formulation ADVISOR’S RESPONSIBILITIES: Refine the information you have provided and study various plan scenarios. Conclude the research and analysis, and produce final reports that include specific recommendations and an action plan for your unique situation. CLIENT/CONSUMER’S RESPONSIBILITIES: The ball is in your advisor’s court. All you have to do at this point is await your next meeting. Step 6 Presentation of Your Financial Plan ADVISOR’S RESPONSIBILITIES: We review your personal financial plan and your specific recommendations. CLIENT/CONSUMER’S RESPONSIBILITIES: Congratulations! You now hold your personal blueprint for financial success designed with your financial goals in mind. You are empowered with specific recommendations to implement your financial plan. At that time, you can decide if you would like additional assistance in carrying out your plan. Step 7 Financial Checkups ADVISOR’S RESPONSIBILITIES: Periodic update meetings and reviews are essential to maintain good fiscal health. We can schedule periodic meetings with you at whatever frequency you think appropriate. CLIENT/CONSUMER’S RESPONSIBILITIES: Financial planning is an ongoing process, not a one-time event. Proper implementation of a financial plan and periodic professional reviews are crucial to reaching your goals. 
|
