The FP Process

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Introduction

Like most things that are worth doing in the first place, financial planning is a life discipline. It entails successive planning engagements conducted on a periodic basis. Each engagement is comprised of information sharing and goal setting, analysis and plan design, plan presentation, and plan implementation. The initial planning project defines a path for you to follow toward your financial goals. But then, as the future unfolds, not only will there be a need to measure actual progress against planned progress, but there will also be a need to address new challenges that come up and to modify the original plan based on any changes to laws (tax, insurance, banking, investing, estate, etc.) that factored into the original plan. These tasks are included in future “check-up” engagements.

Each Apropos planning engagement will be conducted similarly as described next.

Getting Acquainted (or Re-acquainted)
Before the very first planning engagement begins, you and Kay Conheady need to become acquainted. There are several ways for that to happen, however, she would really like to meet with you in person. The first 45 minutes of your first meeting with her will be complimentary. Please call to make an appointment and request our New Client Starter Kit to help you optimally prepare for this first meeting. During this meeting, not only will Kay tell you more about herself and Apropos, but you will also share your personal financial details and concerns with her. By the end of this meeting, she will provide you with a guaranteed estimate for your project. If you then choose to engage her, she will draw up a service agreement for you to sign, and an invoice for the engagement startup fee. Each engagement after the first planning engagement begins with a data gathering “checkup kickoff” meeting with Kay for which you will also have prepared ahead.

Interactive Session
In one or more interactive sessions with you, Kay will gather additional details about the more complex or variable aspects of your finances and ensure that she understands your financial goals and priorities. Kay also uses these sessions to propose possibilities or options to you. These sessions are typically conducted via phone or email.

Apropos Analysis and Planning
After we complete the data gathering and information exchange phase of the project, Kay will carefully perform state of the art financial planning. After analyzing your data using best-of-breed financial planning tools and techniques, she will formulate her recommendations, design a 100% tailored financial plan and create reports that clearly and concisely communicate these to you.

Presentation Meeting
At the end of the engagement you and Kay will get back together for the Presentation Meeting (PM). During the PM Kay will share the project deliverables with you and fully explain them. The set of deliverables is highly dependent on which Apropos services were included in the project. The meeting is conducted in a relaxed, informal manner where your questions and concerns are top priority.

Follow Up
Kay knows that you will think of important questions after you leave the Presentation Meeting. She also realizes that some of the action items she gives you will require her support to execute. Therefore, after the Presentation Meeting, she will field your follow up questions by phone or e-mail for two weeks. Beyond the two-week period, she will respond to your phone and e-mail inquiries placed between 8:30 – 11:30 AM on the third Thursday of every month. She provides these follow up services at no additional charge.

Check-ups
As mentioned above, going forward, your finances will require periodic check-ups to ensure you remain on track toward achieving your financial goals. The frequency of needed check-ups will depend on the specifics of your financial situation and Kay will counsel you regarding when to return for a financial check-up. Of course, you are encouraged to call Kay sooner if you experience significant changes in your financial circumstances or are presented with new challenges or opportunities that you would like advice regarding.

Money Matter$
The project estimate Kay provides at the end of the Get Acquainted (or Checkup kickoff) meeting is quoted as “not to exceed $X” and is based on her hourly fee of $130. To engage Kay, you sign an Apropos service agreement and remit a check for the lesser of $500 or 50% of the estimate. Payment of the balance due is expected at the end of the Presentation Meeting (we accept personal checks and cash).

Tell me again how I will benefit from financial planning?