Personal Financial Planning
“If you don’t know where you’re going, any road will take you there.” – George Harrison
If you can’t imagine driving to an unknown destination without a roadmap, then why drive toward your retirement without a comprehensive wealth plan? Our Wealth Plan team will strive to guide you from where you are to where you want to be. We utilize a comprehensive process that tracks your finances all the way to and through retirement.
Our office is founded on a commitment to comprehensive planning. Before we implement any recommendations we’ll work together to create a plan that pursues YOUR unique needs and goals. Our wealth plan doesn’t just track your finances; it helps you track your life.
We invite you to read the information below and get started on the road to the retirement you’ve always wanted.
Click here to see the areas we address in a basic financial plan.
The Financial Planning Process:
1. Establishing and defining the client-planner relationship
Our office has made the decision to only work with a select number of clients. This means that if you become our client, we will do our best to help you attain financial independence and pursue your goals. Some advisors think of financial planning as a one-time event. They prepare an elaborate plan, which may be obsolete by the time they deliver it to their clients. Our firm views financial planning as an ongoing process. We’ll use our first meeting to introduce you to our firm and our comprehensive approach to financial planning. We’ll talk about your goals and concerns, and begin to develop a clear understanding of your needs and expectations. After the first meeting we’ll both decide whether there’s a fit.
2. Gathering client data
We believe that the more accurately we can view the range and extent of your finances the better we can assess the opportunities available to you. We’ll work together to further clarify and expand your goals. Our team will help you organize your financial information, to find out where everything is, and what it’s worth.
3. Analyzing and evaluating your financial status
Based on the information we collect, we’ll be able to get a clear understanding of your current financial situation and what matters most in your life. We’ll analyze your specific financial strengths and potential areas of vulnerability. After reviewing this information with you, we will begin the process of researching and developing specific recommendations.
4. Developing and presenting recommendations and/or alternatives
The information we collect will allow us to research and develop a series of creative and complementary strategies designed to meet your unique needs. You can rely on our extensive experience to deliver specific recommendations that address the wide array of issues that impact your financial life.
Our office will present our findings in writing and interactively at our office. We will explain the options available to you and discuss the implications of each one. You need to understand how each option will affect your financial affairs now and in the future. We will then suggest the approaches that will help you meet your needs, and we will discuss how to implement the strategies we agree to.
5. Implementing the financial planning recommendations
Strategic implementation is what makes Thomas Financial Associates stand out from the crowd.
All good planning offices follow the same basic steps to help you reach your goals. They define your needs, gather and analyze data, present, implement and monitor a plan. The plan, no matter how detailed, is only a tool. Many people leave the planner’s office with a list of “to do’s” and must obtain assistance from several additional professionals such as certified public accountants, investment advisors, and insurance agents to take the plan from paper to possible.
Thomas Financial Associates has the distinct ability to provide access to all these services and many more in one firm. Our professionals work as a team. The result is a positive unified collaboration of strategies. Because our firm’s professionals are aware of the factors which affect your plan, actions and adjustments in each strategic area can be taken to improve the overall performance. You can feel confident knowing that our professionals are working to help you reach each phase toward your dreams and goals.
6. Monitoring and reviewing the plan
We experience change in our personal, professional, and financial life every day. At Thomas Financial Associates we believe that financial planning is a fluid activity which requires ongoing updating and monitoring. We’ll meet on a regular basis to review and update your plan.
We know that securing your dreams takes effort and energy, leaving little time for wealth management. We can take that responsibility off your hands while helping you pursue your goals, freeing your mind to enjoy the things that are important to you.
Financial Planning is offered through Bay Financial Advisors, a Registered Investment Advisor, and seperate entity from LPL Financial.