Our Long-term Relationship Building Process
You don’t have to go it alone!
At FatTail Financial Advisory Group, we adhere to the financial planning process working with our clients to develop a written blueprint to assist them in achieving their goals. There are several steps in the process:
1. Establishing a Relationship -- This entails explaining the depth and breadth of the services we provide and any fees associated with the process.
2. Gathering Data -- This includes determining and prioritizing goals, your time horizon(s) and risk tolerance level(s).
3. Analyzing and Evaluating Your Current Financial Status – This takes into consideration your:
A) Assets -- Liabilities = Net WorthB) Liquidity Needs = Cash Flow and Budgeting
C) Risk Management Strategies
D) Portfolio Analysis
E) Housing, Education, Retirement and Income Needs
F) Special Needs -- Divorce, Long Term Care Planning
G) Taxation Issues -- both Income and Estate Taxes
H) Charitable Issues
4. Developing and Presenting the Plan of Action -- This includes looking at current projections if no changes take place and projections if the plan we develop is followed.
5. Implementing the Plan of Action – This often requires coordinating actions with other professionals such as accounting, legal, and human resources professionals, designating the responsibilities of the planner, client and support professionals as well as developing lines of communication and consultation with these other professionals
6. Monitoring the Plan of Action -- This involves providing on-going services, annual evaluations, rebalancing of portfolios as well as periodic updates and adjustments depending upon your economic and life conditions.
Do you have company stock in your 401(k) plan account? Does your rollover plan include taking advantage of special tax treatment given to this stock? Ours does. Do you know how to convert current lower retirement plan account balances to tax free income in retirement? Call us for an appointment at 718-774-9575 and we can potentially save you thousands. Remember, a thousand saved is a thousand earned.