SD Financial Pathways is a holistic financial planning firm. That means we want to provide value on every aspect of your financial situation. And then based on your unique circumstances, we’ll develop and present a plan that we believe is in your best interest.
The overall objective of the financial planning process is to align your financial resources with your goals and values. We want to make sure your financial resources are working together in the most effective way possible, therefore making it easier to achieve your goals. While every client’s situation is different, there are some general processes that every client can expect.
- Establishing and defining the planning relationship.
We will have an introductory meeting where we will listen to your goals and values. We will explain and document the services to be provided and we will fully explain how we get paid. All recommendations and services will be provided based a fiduciary standard, which means we will always act in your best interest and disclose any conflicts of interest that may exist.
- Gathering data.
With input from you, we will complete a client profile, which is a tool we use to help collect information on your current resources and goals. To supplement the data gathering process, we may also request copies of your important documents. If relevant, we will have you complete a risk tolerance questionnaire, which helps us understand how you feel about risk.
- Analyzing your financial status.
Once we have gathered the information on your current situation, the data will be analyzed to determine what must be done to meet your goals. Depending on what services you have requested, we may include an analysis of your portfolio positioning, insurance coverage, estate plans, and tax strategies.
- Present financial planning recommendations.
We will present you with our financial planning recommendations, educating you on the various tools and techniques involved with your plan. Based on your feedback, we will revise the recommendations as appropriate.
We will coordinate the implementation of all aspects of your financial plan. Where necessary, we will work with other professionals such as your attorney or accountant.
We will continue to monitor the progress towards your goals. We will meet with you at least annually to report on your progress, review your situation, and adjust your plan as your circumstances change.