FINANCIAL COUNSELING PROCESS

FINANCIAL COUNSELING PROCESS

INTRODUCTION SESSION
Evaluate if planning will be helpful, determine the costs and decide whether or not to proceed

Client and Spouse

Interview Notes
Sent to client for a review of the first session.

INFORMATION INTERVIEW

Gather Financial Information

Discuss Client Objectives

Clarify Client Attitudes
A review of the Data Information Form, legal documents, employee benefit statements, any investment summaries - with an extensive discussion of client goals and family attitudes.

Interview Notes
An opportunity to confirm the initial responses.

CONFIRMATION STEPS

Planning Objectives

Planning Assumptions

Review of the Financial Data
A review of the re-stated Plan Objectives, the Plan Assumptions to be used, the listed data and the initial balance sheet with cash flow and income tax summary.

Interview Notes
A listing of the data alterations to be made.

REPORT PREPARATION

Present Situation Analysis

Problem Identification

Develop Recommendations
Determining where the client is headed - if no change in direction is made; measuring the extent of problems or shortcomings; testing of alternative solutions; developing a formal plan.

REPORT DELIVERY SESSION
A review of the initial recommendations and

Review of the Report

Additional Issues (?)

Initial Decisions Made

Service Request Form
A review of the initial recommendations and how they will address the problems. Client response frequently indicates a need for added study or plan alteration. A Service Form indicates parties to assist in plan implementation.

Interview Notes

Implementation Summary
Implementation reflects the actions desired, assignment of responsibility and a timetable.

IMPLEMENTATION INTERVIEWS

Additional Analysis (?)

Meeting with other Client Advisors

Making Decisions & Taking Action
Continued meetings with the client and other advisors to accomplish the tasks required to implement the plan. Since many are sequential this process extends over several months.

Interview Notes

Revise Implementation Summary
The action steps continue, driven by revisions to the Implementation Summary Form.

CONTINUED SERVICES

Review of Implementation

Investment Monitoring
Periodic meetings thereafter to review the performance of investments, changes in family,career and economic circumstances.

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INTRODUCTION SESSION		Evaluate if planning will be helpful, determine the costs and decide whether or not to proceed
Client and Spouse

Interview Notes		Sent to client for a review of the first session.

INFORMATION INTERVIEW
Gather Financial Information Discuss Client Objectives Clarify Client Attitudes		A review of the Data Information Form, legal documents, employee benefit statements, any investment summaries - with an extensive discussion of client goals and family attitudes.

Interview Notes		An opportunity to confirm the initial responses.

CONFIRMATION STEPS
Planning Objectives Planning Assumptions Review of the Financial Data		A review of the re-stated Plan Objectives, the Plan Assumptions to be used, the listed data and the initial balance sheet with cash flow and income tax summary.

Interview Notes		A listing of the data alterations to be made.

REPORT PREPARATION
Present Situation Analysis Problem Identification Develop Recommendations		Determining where the client is headed - if no change in direction is made; measuring the extent of problems or shortcomings; testing of alternative solutions; developing a formal plan.

REPORT DELIVERY SESSION		A review of the initial recommendations and
Review of the Report Additional Issues (?) Initial Decisions Made Service Request Form		A review of the initial recommendations and how they will address the problems. Client response frequently indicates a need for added study or plan alteration. A Service Form indicates parties to assist in plan implementation.

Interview Notes Implementation Summary		Implementation reflects the actions desired, assignment of responsibility and a timetable.

IMPLEMENTATION INTERVIEWS
Additional Analysis (?) Meeting with other Client Advisors Making Decisions & Taking Action		Continued meetings with the client and other advisors to accomplish the tasks required to implement the plan. Since many are sequential this process extends over several months.

Interview Notes Revise Implementation Summary		The action steps continue, driven by revisions to the Implementation Summary Form.

CONTINUED SERVICES
Review of Implementation Investment Monitoring		Periodic meetings thereafter to review the performance of investments, changes in family,career and economic circumstances.