Establish and Define the Client Relationship
The first step of the financial planning process is to get to know each other and determine if there is a mutual FIT. During the first meeting we will discuss:
- Our Practice and Approach
- The Planning Process
- Our Value-Added Services
- Your Expectations
- Your Financial & Lifestyle Goals
- What’s Important to You?
- Where We Go from Here
Determine Personal and Financial Goals and Gather Necessary Information
The first step toward achieving your financial goals is clearly defining them. At McKenna Financial, we’ll do a deep-dive into your goals and priorities, both financial and personal. Once the goals have been clearly defined, we can then begin working on what needs to be done to accomplish those goals.
Analyze Current Financial Situation
Next, we’ll analyze your current financial situation, investments, and financial strategies to determine whether you’ll be able to reach your goals. What are the strengths and weaknesses of your current strategy? What’s working for you and what isn’t? Equipped with this information, we can move on to the next stage; creating a personalized strategy designed around your goals and means for achieving them.
Develop the Financial Planning Recommendation
Having established financial goals, personal investment comfort level, and realistic expectations for the duration of and return on your investment, we create financial plans for getting you where you want to be. We develop customized portfolios based on your unique situation.
Present the Financial Planning Recommendation
Before implementation takes effect, we meet to present your financial plan, explain our approach to pursuing your goals, and answer any questions you may have. When you’re comfortable moving forward, it’s time to put your plan into effect.
Implement the Financial Planning Recommendation
Following your approval on the recommended plan, we will allocate your assets accordingly.
Shifts in the market, changes in personal lives, and many other variables can affect a financial plan. Get timely recommendations, make necessary adjustments, and stay updated with a regular portfolio review. Ongoing reviews may be semi-annual, annually, or however often an investment plan may call for.