Step One – Assess Client’s Present Financial Situation
Together with your IPG Downtown Kingston Financial Planner we collect essential information by administering a questionnaire. The questions are non-judgmental and assist us in forming a profile of your financial situation and lifestyle. This process is supported by:
- Examination of past Income Tax returns
- Analysis of life, disability, home and property insurance policies
- Reviewing wills of all family members
- Ascertaining of “soft-data” (lifestyle preferences and risk tolerance with respect to investing)
- Assessing cash flow and net worth statements from pertinent information
- Examination and analysis of “Employee Benefit Plans” when applicable
Step Two Identifying Your Goals and Objectives
Next, we determine in as much detail as possible, your actual goals and objectives for the future. For families, we encourage both spouses to be actively involved in this process. We look ahead to your retirement expectations and your lifestyle goals. We talk about managing your money and your concerns.
Step Three Developing your Financial Plan
Our IPG Downtown Kingston Financial Planner then translates your goals, ambitions and dreams into realistic financial terms. We estimate the money and income you would need to provide yourself with the retirement of your dreams. Your desired retirement income level determines the necessary accumulation in savings and investments needed to realize your financial prosperity.
An unbiased recommendation would then be made, and a course of action would be proposed, based on sound financial planning principals and professional judgements that apply to your needs and desires.
Step Four Committing to your goals
In order to create a successful financial plan of action you need to commit to turning your financial dreams and goals into reality. At the Independent Planning Group Downtown Kingston we will ensure that the written comprehensive financial plan meets your needs.
Step Five – Implementing the Plan
Our prosperity plan is ready for action. Together we commit to the process that will ensure the success of your predetermined prosperity plan.
Step Six – Reviewing Your Plan
A financial plan is never carved in stone. Yearly we will assess and adapt your portfolio to reflect your changing needs and goals. Monitoring your prosperity plan ensures the success of your financial future.
