Comprehensive Financial Plan

What is a Comprehensive Financial Plan?

A Comprehensive Financial Plan includes the whole kit and caboodle! For those who need a firm understanding of where their finances are, where they’re heading, and instructions of what to do if they’re heading in the wrong direction, a Comprehensive Plan is made for you!

Topics that we’ll address* and/or create are:

• Investment Plan (This takes the most time. We make sure your investments are properly diversified, while managing your tax liability.)
• Retirement Plan (Are you on track for retirement? We will discuss Social Security, pensions, long-term care expenses, and other medical expenses.)
• College Planning (If you have college-bound kids.)
• Estate Planning (We discuss whether your estate plan is up to date and refer clients to estate planning attorneys when needed.)
• Insurance (Life, Long-Term Care, Long-Term Disability, Auto, and Homeowners)
• Social Security Benefit Planning (When to begin benefits.)

*You may be too young for retirement planning to apply to your situation, or you may already feel confident in your insurance coverage. In that case, you can pick and choose which areas to include or exclude from your comprehensive plan. We pride ourselves on providing financial planning focused on what matters most to you.

Step 1: Gather Information

We will gather information about you and your financial situation. This includes both tangible details, such as family, career, and investments, as well as less tangible factors, like your values and life goals. You can provide documents easily by uploading them securely to the ShareFile folder we create for clients who work with us.

Step 2: Analyze

We will review your complete financial picture and analyze whether you are set up to reach your life goals. Examples of topics we may address include:

• Are you saving enough to meet future goals?
• Do Roth conversions make sense for you?
• Where should you place your next dollar of savings?
• Have you set up a college savings plan for your child?
• Have you a recently created/updated Estate Plan?
• Are you properly insured against life’s unexpected events?
• Is your current investment portfolio in line with your tolerance for risk?
• Have you considered and planned for future long-term care needs?
• Are you on track to retire when you choose, without sacrificing your standard of living during retirement?

We use MoneyGuideOne® software and Morningstar® research tools to support our analysis.

Once the review is complete, we will schedule a meeting to discuss our findings and collaborate on the best strategies to help you move forward confidently.

Step 3: Create Financial Plan

We will make recommendations to help you stay on track to reach your life goals. All recommendations will be documented in your personalized financial plan, clearly outlining the topics we have addressed and the next steps to take.

Step 4: Annual Updates

While creating a financial plan is an important first step, it is equally important to review and update it annually to ensure you remain on track to meet your goals. Life changes, tax laws evolve, financial markets fluctuate, and investments shift over time. Annual reviews help ensure that your plan and portfolio continue to align with your financial situation, values, and risk tolerance. Rebalancing during these reviews can help maintain your desired asset allocation, take advantage of market opportunities, and maximize long-term returns. These updates typically take 4–7 hours. Although follow-up reviews require less time than the initial plan, they remain essential for keeping your financial strategy on track.

Estimated time for Steps 1–3: 10 to 14 hours