AREAS OF EXPERTISE
Holistic financial planning is the foundation of a sound investment plan. Financial planning starts with basic considerations such as paying off student loans, buying your first home, and planning for the unexpected. As the complexity of your wealth grows, so does the importance of having a solid wealth management plan. As you look to the next phase, your planning evolves to consider the needs of the next generation, providing financial stability for your family—and most certainly planning for a comfortable and secure retirement.
FSA WEALTH MANAGEMENT’S APPROACH TO FINANCIAL PLANNING
We provide the following widely accepted and time-tested approach to financial planning:
Understand your current financial situation.
Determine your financial goals (short, intermediate, and long term).
Develop a goals-based financial plan and evaluate multiple scenarios.
Monitor the plan and make adjustments based on your evolving needs.
Implement plan (investments, estate, tax considerations, risk management).
Review your plan and determine the best approach with your input.
While every step in the process is important, we are especially focused on developing and analyzing multiple planning scenarios before narrowing it down to a handful that we share. It’s important to also review the tradeoffs associated with each so you are aware of the pros and cons.
The initial plan is only the beginning. It is merely a starting point capturing a moment in time. The true value is the ability to adjust to changes in your objectives, circumstances, and prevailing economic conditions. It is also critical to provide built-in flexibility to allow for the unforeseen; because we know from experience that the unexpected happens with predictable regularity.
If you are serious about putting your plan down on paper, please review this sample plan so you know what to expect from our discussions.
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