Discovery - The planning process starts with getting to know you - who you are, what you want to accomplish, who are the people that matter to you, what you want your legacy to be, which investments you are passionate about, what concerns you have and the plan for accomplishing your objectives.

Base Plan - Once we understand who you are and what's important to you, we will help you analyze your priorities, define your vision for the future and create an investment plan that meets your liquidity needs today, longevity needs for tomorrow and legacy needs to preserve your accumulated wealth to benefit the next generation.

Advisory Agreement - Following the introductory meeting and the base plan presented, we will provide you with our advisory agreement to review and sign if you choose to work with us. You can cancel this agreement at any time.

Onboarding - In follow up meetings and phone calls, we finalize the details of your financial plan together with you. We will align your investment accounts with one custodian, TD Ameritrade Institutional (TDAI) and implement our investment strategies and asset allocation based on your plan. We will show you how to access your personal financial website "The Compass" online, access your accounts at TDAI and obtain client reports through Blueleaf.

Monitor - In addition to being available anytime to talk or meet, we will have yearly in-person meetings that allow us to review account performance, discuss planning updates and provide outlook and perspective on the current market environment.

The Situation

Clients Bob and Judy* are in their 50s and were looking to get an independent assessment of their overall financial picture in a comprehensive manner.

Judy wanted to see if their accounts were working as hard as they were towards meeting their goals of retirement at 62, buying a water-front home for the family to gather at, and eventually caring for aging parents.

With each of them having multiple investment accounts, a pension and a few advisors, Bob wanted to create an overall investment strategy and be able to view their entire portfolio in one place.

The Solution

Investment Advisor Craig Panarella met with Bob and Judy in our Hartford office and took them through the discovery process to understand their situation. Craig uploaded their financial data (income and expenses, all accounts and pensions, and other assets including their home) to our advanced financial planning platform and had follow up conversations to understand their interests and concerns.

Craig developed a base case financial plan showing Bob and Judy exactly where they stood in relationship to their goals and proposed a number of alternative scenarios to help the couple stay on track.

They now have a better understanding of the projected risks and returns across their portfolio, including strategies on how to liquidate their investments in a tax efficient manner to fund their upcoming goals. Our cash flow reports demonstrated how they could fund their retirement, prepare to help aging parents and purchase a water front property for the family to enjoy.

Having their financial information in our planning software means that accounts are always up-to-date, reports that show net-worth, cash flow or asset allocation are only a click away, and their financial plan and goals are accessible 24/7.

Craig meets with Bob and Judy two times a year and stays in touch regularly to provide market updates.

* Client names have been changed to protect their privacy.