Step 3: Private Wealth PlanningSM
Is your Financial Advisory Firm conducting true Private Wealth PlanningSM?
This is one of the main reasons Monument’s Co-Founders left one of the largest Wall Street firms – to create an independent firm made up of true practitioners instead of salespeople, and practice innovative, cash flow-based Private Wealth PlanningSM and discretionary, in-house asset management unconstrained by any large corporate agenda.
Below you’ll find an overview of Step 3 in our Process, when you engage Monument’s CERTIFIED FINANCIAL PLANNERSTM for your official Private Wealth PlanSM.
Private Wealth Planning Checklist
Make sure you are taking advantage of all of these features with YOUR Financial Planner!
A Private Wealth PlanningSM Overview
In Step 3 of our process, you’ll work with our CERTIFIED FINANCIAL PLANNERSSM to:
1. Organize Your Financial Life
Establish Your Planning Profile
We set up your private account in eMoney, our financial planning software, and work with you to link all of your financial accounts. This provides you and us with a real-time picture of your net worth and a jumping off point for developing your Private Wealth PlanSM.
Gather Key Documents
We work with you to collect additional information beyond what we discussed in your Monument Blueprint Meeting that will help us perform a complete financial review, including your tax returns, estate documents, insurance policies, employment benefits and liabilities.
2. Define Your Starting Point
Together, we will review and verify the information we’ve entered into eMoney and determine whether this represents a viable outcome for your Private Wealth PlanSM. Once we’ve established this baseline, we can begin modeling “what if” scenarios that show the impact of different goals and life situations on the success of your plan.
3. Create A Plan For Where You Want To Go
In our next meeting, we will present your Private Wealth PlanSM, a personalized, written roadmap that addresses your unique needs and offers specific recommendations to help you achieve your goals. We complete an in-depth review of the issues that matter most to you, including:
■ Cash Flow Planning
■ Portfolio Allocation
■ Education Funding
■ Insurance & Risk Management
■ Retirement Planning
■ Income Tax Planning
■ Long-Term Care
■ Estate Planning
4. Refine Your Plan
Your Private Wealth PlanSM is a living document. We make adjustments as needed according to your changing circumstance and review your plan on an annual basis.