Financial Planning Process
Lomanto Provost Financial Advisors will follow the CFP Board’s Financial Planning Process. Initial services include:
- Understanding your personal and financial circumstances. In the first step in the process, think of us as reporters working to discover the whole story. We will ask questions relating to who you are as a person, your family situation, career, assets, and more. It may come off as nosy, but this step is the crucial foundation for your personal financial plan.
- Working with you to identify and select goals. These commonly include planning for a secure retirement, sending a child to college, reducing or eliminating debt, or leaving a legacy behind – we will work together to establish goals that resonate with you.
- Showing you what road you’re on and exploring alternative routes. Our next step will be to forecast how likely you are to achieve your goals if you keep doing what you’re doing. Additionally, we will define alternative courses of action that you could take to get to your goals and explain the advantages and disadvantages of each.
- Developing and presenting to you our best ideas. We’ll present to you, in writing, our recommendation for the most efficient way to go about meeting your goals.
- Assisting you with turning these ideas into action. The final step of the initial service will include our help with filling out forms and making phone calls to get you on the road to meeting your goals. There may be some steps that only you can complete, such as coordinating with your HR department at work.
After the initial plan is created, we want to be with you every step of the way as you work towards your goals. Ongoing services include:
- Annual in-person checkup. We will reach out to you every 12 months to set up a meeting. At this meeting we will catch up on life, evaluate progress towards your goals, and explore new opportunities.
- Unlimited phone and email support. If you need us, we’re here for you!
- Access to our state-of-the-art client portal. From our secure portal you can see your accounts at-a-glance, track your spending, and store important documents.
Financial planning fee may be waived for clients utilizing our asset management services.