Seven Steps to Financial Success
Our Seven Steps to Financial Success is a win-win approach to financial planning for clients and advisors. It spells out step by step our simple-to-understand-and-implement approach to building a brighter financial future.
Step 1 – Initial Inquiry
ADVISOR’S RESPONSIBILITIES: Our advisors provide a brief description of our services, philosophies, methodology, and fee structure. We’ll direct you to our Web site or send you an introductory packet to help you learn more.
CLIENT’S RESPONSIBILITIES: If our services appear to fit your needs, call and schedule a free Get Acquainted Meeting in person or on the telephone. At the same time you can get additional information to help you learn more.
Step 2 – FREE Get Acquainted Meeting/Teleconference
ADVISOR’S RESPONSIBILITIES: Our advisors meet with you free of charge in person or via teleconference. It’s an opportunity to exchange information about your needs and objectives, to further discuss which of our services are right for you, and to provide you an estimate of the cost of our services. Remember, Garrett advisors do not accept commissions, and instead charge for their services on an hourly, as-needed basis.
CLIENT’S RESPONSIBILITIES: If you choose to use our advisor’s services, we will provide a list of additional information that we will need to begin formulating your personal financial plan.
Step 3 – Data Gathering and Initial Preparation
ADVISOR’S RESPONSIBILITIES: After receiving your information, your advisor will begin to review and develop your custom financial plan. We will prepare initial reports that we will discuss with you at our next meeting.
CLIENT’S RESPONSIBILITIES: You will need to gather the requested data and then possibly complete a risk tolerance questionnaire which we provide. You will need to provide this information to us before our next meeting.
Step 4 – Interactive Goal Setting
ADVISOR’S RESPONSIBLITIES: Depending on your individual circumstances, this meeting may or may not be necessary. If it is, it can be in person or via teleconference. We will work with you to further discuss and clarify the information you have provided thus far, and to refine your financial goals and objectives.
CLIENT’S RESPONSIBILITIES: This is another opportunity for you to clarify your current situation, financial goals and objectives, and to discuss with us any additional questions and concerns.
Step 5 – Analysis and Plan Formulation
ADVISOR’S RESPONSIBLITIES: We refine the information you provide and study various plan scenarios. We conclude our research and analysis, and produce the final reports that include observations, assumptions, specific recommendations, and an action plan for your unique situation.
CLIENT’S RESPONSIBILITIES: The ball is in your advisor’s court. All you have to do at this point is await our next meeting.
Step 6 – Presentation of Your Financial Plan
ADVISOR’S RESPONSIBILITIES: We review together your personal financial plan and our specific recommendations.
CLIENT’S RESPONSIBILITIES: Congratulations! You now hold your personal blueprint for financial success designed with your financial goals in mind. You are empowered with specific recommendations to implement your financial plan. If you wish, you may employ us further to assist you in carrying out that plan.
Step 7 – Financial Checkups
ADVISOR’S RESPONSIBILITIES: Periodic update meetings and reviews are essential to maintain good fiscal health. We can schedule these periodic meetings with you at whatever frequency you think appropriate.
CLIENT’S RESPONSIBILITIES: Financial planning is an ongoing process, not a one-time event. Proper implementation of a financial plan and periodic professional reviews are crucial to reaching your financial goals. We urge prompt attention. It’s about your financial future.