Blue Sky Financial Group
3478 Buskirk Ave., Suite1000
Pleasant Hill, CA 94523
P: (925) 719-9297
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
© 2019, Blue Sky Financial Group. All Rights Reserved.  Disclosure StatementPrivacy Policy. Firm ADV Part II
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The Financial Planning Process
What to expect in the first year

 

The financial planning process begins with a series of meetings that allow the potential client to understand how financial planning works, what can be expected in the first few years and how the planning process transforms from a generalized concept to a very hands-on, client focused, personalized service.

 

The first year of financial planning consists of four general stages:

Initial Recommendations &

Plan Implementation

 

After reviewing financial data the next task is to determine how to move the financial pieces around to make a better picture.  Using your financial goals as the finish line, we develops a financial plan which acts as a blueprint to identify how to get from A to B in the most efficient manner possible.  

 

The initial recommendations for the majority of cases will include:

 

  • Proper cash reserve need

  • How to maximize employer benefits

  • Personal/income and family protection strategies

  • A saving strategy that fits a client's cash flow and goal needs

  • A proper investment strategy using applicable tax advantaged accounts and asset classes

  • Portfolio recommendations and asset management options

Ongoing Goal Reviews & 

Long Term Planning

 

Just as life is always changing directions, a financial plan cannot be stagnant and must change as financial goals change.  For the financial planning process to be successful participants must be proactive, as opposed to reactive, to planned and unexpected life changes.   Planning is a long term relationship requiring consistent reviews of a client’s goals and position in life.

 

Regular review meetings help makes sure that clients are on track to reach their goals.  If it is identified that the client is off track it needs to be determined if adjustments need to be made to get back on track, or if a new plan needs to be written for a newly realized goal.  When the latter is the case, the process begins again.

Data Gathering

 

In order to personalize the financial planning process, the next step is look deeper into the financial numbers specific to the client and the case.  While this can be the most tedious part of the process, it can also be the most enlightening as it will help identify your financial strengths and weaknesses.  Using your financial data, we help clients pinpoint areas they have performed well and areas of opportunity.

 

Data gathering is also when a client's true financial behavior is assessed by identify the true cash flow and savings power the client has to work with as well as personal net worth calculations. Using a medical reference, this is the 'height & weight' of financial planning.

Discovery Meeting

 

The discovery meeting is a two way interview between Blue Sky Financial and you as an interested prospect.  The purpose is to answer two questions; Can we help you with your goals/concerns/problems and do you want our help?

 

During the course of the discussion, we will seek to understand what you are trying to accomplish as well as your personal relationship with money.  What you will take away from the discussion is an understanding of how financial planning works, how Blue Sky Financial works with clients and what can be expected over the course of the planning relationship.  More importantly, you will have enough information to determine if you like our financial philosophy and how he works with his clients.