Getting to know you…
At Pioneer Valley Financial Group, the first step of your financial planning journey is for you to come in and meet with one of our financial advisors. We believe in building a substantial relationship with you and investing time in getting to know you personally before going any further. As obvious as this may seem, when a client comes to Pioneer Valley Financial Group, our first task is to get to know him or her. Before beginning the financial planning process, we need to get a sense of what it is the client is looking for, what his or her goals, dreams, and aspirations are, and if these are realistic, given the client’s current financial position. We also need to establish if the client is someone we feel we can work with. On occasion, a client may have goals we feel we’re unable to assist with. Once we’ve gotten to know you a bit, and decided that we’ll each fit the other’s needs, we can move to the next step.
Gathering information…
When it comes to our planning process, there’s no such thing as too much information! Depending on just what it is you expect to achieve, we may ask for any and all current financial statements, including those from bank accounts and brokerage accounts, as well as current and past retirement plans. Information on life insurance policies and social security statements are also useful. Essentially, anything that may impact your future net worth is good for us to take into account when we begin the planning process, which begins with…
Analyzing your current financial position…
It’s not voodoo, it’s an analysis of your current accounts, using a variety of methods. We carefully analyze your current financial position step-by-step before moving any further with the process. It is important to understand and know where you are financially before developing any future financial plans. We will evaluate your financial statements, business ratios, and cost/volume/profit analysis. We like to look at your holdings from a variety of different views, including each account individually, as well as looking at your holdings in total. We’ll decide whether or not we believe your current positions fit your goals, as well as whether or not they fit your personality and comfort level. Once we’ve analyzed your current holdings, we’ll…
Develop and present an action plan…
Our personalized, comprehensive, integrated financial plan will be designed for you and only you. Each action plan is unique based on the financial priorities and goals that you have. At Pioneer Valley Financial Group, we will get you started with a plan and put it into action. We will consistently focus on you and your needs throughout the plan. This action plan will include specific steps that we believe will lead you toward achieving the goals you’ve set. Whether your goal is planning for a comfortable retirement, college funding for your children or grandchildren, or leaving a legacy to your favorite charity (or perhaps all of these!), Pioneer Valley Financial Group is confident we can help you work to fulfill your dreams. This action plan is not chiseled in stone, but it is subject to your review and approval. Once approved, we’ll move toward…
Plan implementation…
This is the easiest step for you. Just say go, and we’ll do the rest! We’ll help you transfer your accounts, reallocate your assets, and take the steps needed to adjust your savings rate. We’ll also assist with your beneficiary management, and work with your accountant and attorney on your estate plan. Just when you think you’re finished, we’ll move on to…
Ongoing review of financial plan…
Implementing your financial plan is only part of the process. You must constantly review your current plan to fit any changes or circumstances that may arise. Whether you are dealing with income changes, investment outcomes, personal or family changes, or reduced tolerance for risk, we can adjust your financial plan. Your relationship with us and your financial advisor does not end once a plan is implemented. We will be with you when changes occur because we understand life happens.
This step is, without a doubt, the most important step in the process. It’s only in the review process that we have the opportunity not only to fine-tune your asset allocation, but to adjust your plan as life circumstances change, to incorporate newly found assets into your plan, or simply to put you at ease. The importance of knowing just where you stand cannot be over-emphasized! Avoiding surprises will not only keep you on course but may help you sleep at night!
If this sounds like an approach that might work for you, please don’t hesitate to contact us. If you’d like to get a head start on the process, please feel free to print and begin with the profile form.