Financial Planning* Process
All relationships must begin with an introduction. You will get to know me as I get to know you – your values, concerns, priorities and objectives, as well as your current financial picture. Do my philosophies and services align with your expectations?
I believe the path towards financial success begins with a plan. Each plan must be comprehensive and customized to fit the circumstances, constraints and goals unique to you and your family. I understand "life happens", and things change. Your plan serves as the foundation for our future decision-making and provides a rationale for direction of our investments. Your plan will be monitored and amended as your situation changes and the world turns.
1. Introduction Meeting:
- Share information about yourself and your situation
- Explanation of the Charles Orngard Financial Management, LLC process and services
- Is this a good fit for both of us?
2. Clarification & Fact Finding Meeting:
- Prioritize goals, objectives and timelines
- Assess risk tolerance
- Determine your dangers, opportunities and strengths
3. Analysis (internal meetings):
- Analyze financial situation relative to goals
- Identify strengths, shortfalls and opportunities of current circumstances
- Prepare written comprehensive Wealth Plan
4. Plan Presentation Meeting:
- Present comprehensive Wealth Plan
- Discuss projections of current situation and alternatives to improve your current plan
- Examine various recommendations pertaining to retirement, investments, risk management, estate, philanthropy and risk management
- Discuss recommended investment strategies including portfolio allocation, types of investments and account structure
- Address questions or concerns
- Develop a strategy & timeline for plan implementation
5. Plan Implementation:
- Open new accounts, initiate transfer of existing assets, and execute trades from agreed-upon investment strategy
- Monitor & communicate about progress of implementation items
- Establish online account access
- Determine schedule for review meetings
6. Ongoing Review Meetings:
- Compare Wealth Plan goals and objectives to actual results
- Discuss changes to your financial situation that could necessitate changes to your Wealth Plan
- Revisit risk tolerance and adjust asset allocation accordingly
- Rebalance investment portfolio periodically and recommend modifications
Coordinate with other trusted advisors and specialists
*Financial Planning offered through LPL Financial