Broker Check

Financial Planning Process


Evaluate if planning will be helpful, determine

Client and Spouse

the costs and decide whether or not to proceed




Interview Notes

Sent to client for a review of the first session.





A review of the Data Information Form, legal

Gather Financial Information

Discuss Client Objectives

Clarify Client Attitudes

documents, employee benefit statements, any

investment summaries - with an extensive

discussion of client goals and family attitudes.




Interview Notes

An opportunity to confirm the initial responses.





A review of the re-stated Plan Objectives, the

Planning Objectives

Planning Assumptions

Review of the Financial Data

Plan Assumptions to be used, the listed data and

the initial balance sheet with cash flow and

income tax summary.




Interview Notes

A listing of the data alterations to be made.





Determining where the client is headed - if no

Present Situation Analysis

Problem Identification

Develop Recommendations

change in direction is made; measuring the

extent of problems or shortcomings; testing of

alternative solutions; developing a formal plan.





A review of the initial recommendations and

Review of the Report

Additional Issues (?)

Initial Decisions Made

Service Request Form

how they will address the problems. Client

response frequently indicates a need for added

study or plan alteration. A Service Form indicates

parties to assist in plan implementation.




Interview Notes

Implementation Summary

Implementation reflects the actions desired,

assignment of responsibility and a timetable.





Continued meetings with the client and other

Additional Analysis (?)

Meeting with other Client Advisors

Making Decisions & Taking Action

advisors to accomplish the tasks required to

implement the plan. Since many are sequential

this process extends over several months.




Interview Notes

Revise Implementation Summary

The action steps continue, driven by revisions to

the Implementation Summary Form.




Periodic meetings thereafter to review the

Review of Implementation

Investment Monitoring

performance of investments, changes in family,

career and economic circumstances.