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1. Helping the investor and their loved ones determine goals and time lines to reach those goals. (What do you want to accomplish?)
2. Establishing and defining the client/advisor relationship. (How can we help?)
The Advisors at TriSummit clearly explain and document the services to be provided to you and we define our and your responsibilities. We also explain fully how we will be paid and by whom. We agree on how long the professional relationship should last and on how decisions will be made. We also review and agree on which topics we will gather and analyze data; Topics can include;
- Retirement Planning
- Estate Planning
- Risk Management
- Education Planning
- Executive Benefit
- Business Succession Planning
3. Gathering client data, including goals. (What do we know now?)
We ask for information about your financial situation. We mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. We make sure that we gather all the necessary documents before giving you the advice you need.
4. Analyzing and evaluating your financial status. (How does "what we know now" dovetail with our professional knowledge?)
We then analyze your information to assess your current situation and determine what you must do to address your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
5. Developing and presenting financial planning recommendations and/or alternatives. (Reporting the results to you!)
We offer financial planning recommendations that address your goals, based on the information you provide. We go over the recommendations with you, to help you understand them, so that you can make informed decisions. We make sure that we listen to your concerns and revise the recommendations as appropriate.
6. Implementing the financial planning recommendations. (Build a gameplan!)
We then agree on how the recommendations will be carried out. We can serve as your "coach," coordinating the whole process with you and other professionals such as attorneys or tax preparer.
7. Monitoring the financial planning recommendations. (Keeping you on track!)
We also agree on who will monitor your progress towards your goals. If we are in charge of the process, we report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes.
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