7 Steps to Financial Success
The 7 Steps to Financial Success is a win-win approach to financial planning for clients and advisors. It spells out step by step a simple-to-understand-and-implement approach to building a brighter financial future.
Step 1: Initial Inquiry
Advisor’s Responsibilities: We provide a brief description of services, philosophies, methodology, and fee structure. You may be directed to our Web site to help you learn more.
Client’s Responsibilities: If the advisor’s services appear to fit your needs, she will schedule a Free Get Acquainted Meeting in person or on the telephone, and at the same time provide you with additional information to help you learn more.
Step 2: FREE Get Acquainted Meeting/Teleconference/Virtual Meeting
Advisor’s Responsibilities: We will meet with you free of charge for an initial session. It’s an opportunity to exchange information about your needs and objectives, to further discuss which services are right for you, and to provide you an estimate of the cost of our services. Remember, Kulig Financial Advisors does not accept commissions, and instead charges for services on a fee-only basis.
Client’s Responsibilities: If you choose to use our services, we will define the engagement’s scope together in writing. We will also 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, we will begin to review and develop your custom financial plan and/or portfolio. We will get in touch with you for clarification as needed, and we may need to schedule an interim call or meeting.
Client’s Responsibilities: You will need to gather the requested data and then possibly complete a risk tolerance questionnaire. This information will need to be provided for us to progress on your plan and/or portfolio design.
Step 4: Interactive Goal Setting
Advisor’s Responsibilities: Depending on your individual circumstances, this meeting may or may not be necessary. If it is, it can be in person or via teleconference. The advisor 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 your advisor any additional questions and concerns.
Step 5: Analysis and Plan Formulation
Advisor’s Responsibilities: We refine the information you have provided and study various plan scenarios. We conclude the 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 your next meeting with your advisor.
Step 6: Presentation of Your Financial Plan
Advisor’s Responsibilities: We review with you your personal financial plan and 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.
Step 7: Financial Checkups
Advisor’s Responsibilities: Periodic update meetings and reviews are essential to maintain good fiscal health. Your advisor will schedule these periodic meetings with you at frequencies appropriate for the service you have selected.
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.