Key Steps to Financial Planning Success*
1. Determine your Current Financial Position
starts with creating a snapshot of where you are today. We will review
your personal situation, investments, liabilities, income and expenses.
2. Identify Measureable Goals and Objectives
The next step is to identify your vision, understand your needs and set achievable goals.
3. Identify Financial Barriers or Issues
through BMO Nesbitt Burns sophisticated planning software we create a
systematic plan designed specifically for you. Your plan will have
clearly defined goals, achievements and appropriate benchmarks. Should
any barriers be identified I will educate you on the issues and make
4. Provide Alternative Solutions to Create a Strategy
a thorough review of your situation I recommend a strategy that takes
all your objectives and personal circumstances into consideration.
5. Implement the Strategy
review of suggested strategies and understanding how they will assist
in meeting defined goals I show clients the process required to
implement the strategies.
6. Periodic Review and Adjustment of the Plan
next steps in the process are monitoring performance of investments and
contact on a regular basis. This allows us to track progress versus
your goals and make any adjustments along the way.
*Advocis (the Association of Financial Planners) recommends six key steps to the financial planning process.