Financial Planning Services
Thank you for your interest in our Financial Planning services.
What we do.
We provide advice to manage personal finances and small business finances. Our advice also can create a plan or strategy to meet your financial goals and financial needs for you, your family or small business. Common financial goals include; increasing savings, college funding, home purchases and of course retirement.
Areas of Financial Planning
We begin by discussing, identifying and prioritizing our client’s financial needs and goals.
When we help clients identify and prioritize their needs and goals, we are able to set the stage for successful planning. Often these goals and needs are dynamic and may change. Our planning processes make sure we review and update the deeds and goals often. Needs and goals may include college savings, coaching to create savings discipline, major purchases, growing wealth, travel, small business issues, retirement etc…
After the needs and goals- the foundation of our process is Cash Flow, Cash Reserves, Savings and
We will organize your financial information (data) into a Net Worth Statement and a Cash Flow Report
- Check Credit Scores and review Credit Reports. Review credit protection methods.
- Develop a financial management strategy including financial projections and analysis
- Integrate and prioritize strategies outlined above into a written comprehensive financial plan
Plan will include savings strategies for goals
Then we turn our attention to Investing to match your risk and return needs
- We will provide high level assessment and advice for investment accounts including your 401(k) or other retirement accounts
- If desired we can provide detailed investment management with an additional advice service-Investment Management
Tax Planning is an integrated part of our Financial Planning-
- Income tax analysis
- How to minimize current taxes and balance retirement savings strategies to plan for reduced tax costs or tax free income in retirement
- Identifying tax planning strategies that you can use when working with a tax preparer to optimize your financial position
We assess your Insurance policies and discuss protecting you and your family from catastrophic financial events (life Ins, Disability, Long Term Care)
- Establishing needs analysis based on Life value or Income replacement for life Insurance
- Calculating and determining disability insurance needs/coverage
- Review Medical Insurance
- Review Homeowners Insurance
- Review Auto Insurance
- Review Personal Liability exposure (Renters, Umbrella, etc…)
We will leverage your Employee Benefits for maximum effectiveness
Assess any employee benefits available to you.
Research and advise on employer benefit strategies as business owner
- We facilitate estate documents being created and kept current. (Wills, Power of Attorney, Medical Directives, etc…)
- We assess estate net worth and liquidity and providing information to help you develop an estate plan (including estate tax planning and trust strategies) to help ensure estate needs are managed/met.
Our comprehensive Financial Planning process includes:
- No Cost initial consultation. In the initial consultation we discuss your financial situation, your financial goals and financial needs. In the initial consultation we will explain financial planning and how it may (or may not help you). In the initial meeting we usually provide suggestions at no cost to help you manage your finances and create a financial plan on your own. If we both decide that a formal financial planning engagement is right for you we can execute a Financial Planning Engagement agreement.
- After you hire us to do financial planning there is a proven process we follow.
Meeting 1- Fact Finding – In the first formal meeting we identify and prioritize goals and needs. Then we gather documents and discuss all of your accounts, policies, employer benefits, tax returns and estate documents.
Meeting 2- DRAFT Plan Review- We have taken all of the information and started creating solutions to meet your goals and needs. We begin showing you your options and discussing how we can apply your financial assets and create a plan to meet your goals and your financial needs.
Meeting 3- Plan Review and Action Plans- In preparing for this meeting, we have thoroughly analyzed your financial information and we start showing you finalized strategies to implement and recommendations that will meet your needs and goals. This is a collaborative meeting and you review the recommendations we have created and together we form an Action Plan.
Meeting 4- Usually 60-90 days after the Plan Review and Action Plan meeting, we review the progress of the Action Plan and make corrections and adjustments needed.
Meetings every 60- 120 days thereafter to review the progress of the Action Plan.
In addition to the 5 meeting process outlined above we also-
- Refer you to and help you find other professionals, as required, to assist with the implementation of actions and recommendations in the financial plan.
- Monitor the financial performance and results of the financial plan for the year.
- Provide ongoing review and assessment of assumptions incorporated into the financial plan given changes in economic, political and regulatory environment.
- Determine the necessity to revise the financial plan.
Since we offer comprehensive financial advice, we work in the areas of, Financial Planning; Investment Management; Income Products (Annuities, REITS, BDCs) and Protection from catastrophic financial events (Life Ins, Disability, Long Term Care). Every client is different and we work to understand the needs and goals and how to work with each client in the best way for them to succeed.
How we are compensated
Advice services (Fee)- We provide financial advice for a fee. We are paid a fee by our clients to provide ad-hoc advice or on a project basis. Primarily, we are paid an annual fee to meet financial needs and goals by creating financial plans that define measurable goals and create strategies to meet those goals (retirement, college savings, business planning).
Investment Management- (Fee Only) We are paid by our clients to advise clients how to invest based on their risk/return profiles. We can do this by the hour or on an annual fee basis based on assets we help manage.
Insurance Product and Services- (Paid by Insurance companies) We are licensed to sell insurance products including Life insurance, Long Term Care and Annuities. We work under the Fiduciary Care standards putting the clients’ interests first and will always disclose if we are being compensated by an Insurance company.
Registered Principal, Securities offered through Cambridge Investment Research, Inc. A
Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment
Research Advisors, Inc., a Registered Investment Advisor. Doubleday Conley L.L.C.and Cambridge are not affiliated.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®,
Registered Representative, Securities offered through Cambridge Investment Research, Inc. a Broker/Dealer, Member
FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor.
Conley Doubleday LLC and Cambridge are not affiliated.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and
federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board's initial
and ongoing certification requirements.
Cambridge Investment Research Advisors, Inc.ADV 2a located here: https://www.cir2.com/documents/forms/cira_adv_2a.p