To ensure your financial success we begin your financial journey by going through The 6 Steps to Financial Planning:
1. Client Contact – Initial Meeting
A Capital Wealth Architects Advisor will:
- Explain issues and concepts related to the overall financial planning process that are appropriate to you.
- Explain the services he or she will provide and the process of planning and documentation.
- Clarify your responsibilities as a client.
- Clarify his or her responsibilities as your planner. This should include a discussion about how and by whom he or she will be compensated.
Together we will:
- Present Letter of Engagement (LOE).
- Make a decision to proceed based on Capital Wealth Architects value proposition.
- Agree on how decisions will be made.
2. Gather Client data and determine your goals and expectations
A Capital Wealth Architects Advisor will:
- Obtain information about your financial resources and obligations through interviews or questionnaires.
- Gather all the necessary documents before giving you the advice you need.
Together we will:
- Define your personal and financial goals, needs and priorities.
- Investigate your values, preferences, financial outlook and desired results as they relate to your financial goals, needs and priorities.
3. Clarify your present financial status and identify any problem areas and opportunities
A Capital Wealth Architects Advisor will:
- Analyze your information to assess your current situation (cash flow, net worth, tax projections, etc.).
- Identify any problem areas or opportunities with respect to your:
- Capital needs
- Risk management needs and coverage
- Investments
- Taxation
- Retirement planning
- Employee benefits
- Estate planning
- Special needs (i.e. adult dependent needs, education needs, etc.)
4. Develop and present the financial plan
A Capital Wealth Architects Advisor will:
- Develop and prepare a financial plan tailored to meet your goals and objectives, values, temperament and risk tolerance, while providing projections and recommendations.
- Present the plan to you and establish an appropriate review cycle.
Together we will:
- Work together to ensure that the plan meets your goals and objectives by reviewing it regulary.
5. Develop and Present Written Investment Policy Statement (IPS)
A Capital Wealth Architects Advisor will:
- Assist you in implementing the recommendations discussed.
- A managed account includes the creation/delivery of an Investment Policy Statement. This coupled with a Letter of Engagement and a personalized, written Financial Plan, ensures a solid foundation for future success.
6. Monitor the financial plan
A Capital Wealth Architects Advisor will:
- Agree on who will monitor and evaluate whether your plan is helping you progress toward your goals.
If your planner is in charge of the process, your advisor will:
- Contact you to review the progress of the plan periodically and make adjustments to the recommendations required to help you achieve your goals. This review should include:
- A discussion about changes in your personal circumstances and how they might affect your goals.
- A review and evaluation of the impact of changing tax laws and economic circumstances.
- A review of your life circumstances and an adjustment of the recommendations if needed as those circumstances change through life events such as birth, illness, marriage, retirement, etc.
