"Good fortune is what happens when opportunity meets with planning." - Thomas Edison, inventor
A comprehensive, written financial plan is like the map to a journey. Without it we don't know if we are avoiding pitfalls or even moving in the right direction. Financial planning is to investment management what the map is to that same journey. Without a written and comprehensive financial plan it is impossible to know an investor's goals or the best way for our advisors to help accomplish those goals.
At Genesis Financial Group financial planning begins in the first meeting and is updated throughout the relationship. It is important that a written financial plan speak to both objective and subjective inputs; it should be more than a quick cash flow estimate.
Our process begins with a comprehensive fact-finding meeting that is accompanied by a brief questionnaire. The goal of this initial meeting is to learn about the clients and understand their goals. By understanding what a client is trying to accomplish we can cater their investment portfolio to better satisfy their needs. The initial meeting is like the foundation of a home, we want to make sure the beginning is solid because everything that comes next will be built from that beginning.
As we continue working with our clients and the relationship matures, it is an important step to come back to the financial plan and conduct check-in meetings. These check-in meetings are important because the only constant in life is that things change. By continuing to focus on the plan in place we can make sure that we are progressing towards the end goals of the client, even as those goals change over time. The largest consideration our advisors want to avoid is the client outliving their money.
Other situations our advisors use comprehensive financial planning to proactively address are:
Goal planning
Future Cash Flow Analysis
Net Worth Tracking
Distribution Modeling
Estate Considerations
Matters of Legacy
Projections and Scenarios
And many more
The centerpiece of our financial planning process is the interactive client website. By utilizing this technology clients of Genesis Financial Group have access to enhanced account reporting, a robust research platform, and a client vault that is useful for storing anything from digital copies of estate documents to photos for insurance purposes. The personal financial website gives an investor the power to put their whole financial life in the same box and is our way of streamlining the financial planning process.
In conclusion, a comprehensive, written financial plan is another tool Genesis Financial Group offers to empower investors and take the guesswork out of our client's financial futures.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Genesis Financial Group is not affiliated with Kestra IS or Kestra AS.