For many people, determining an investment asset allocation strategy based on such factors as goals, risk tolerance, and age is the first step in planning. But for some, an equally important step might be planning focused specifically on retirement or funding a loved one's education. The flexibility of our collaborative process means you select which financial planning steps you need, and in what order you want to address them.

• Life and Financial Goal Setting
  The most effective financial planning usually starts with a discussion about your hopes and dreams, and your current situation. Our specialists meet with you to better understand your life and financial goals, timeframe for implementation and risk tolerance. Together, we identify which financial planning steps will give you the most value, and a pace that is comfortable for you and respects your other commitments.
  

• Asset Allocation
  This step provides an assessment of how and whether your current investment mix supports your financial needs and goals. Our specialists meet with you to discuss your investment objectives, tolerance for risk, time horizon and current financial situation. We apply these factors and modern portfolio theory to develop a model portfolio composed of investments designed to maximize your return given your desired amount of risk. After comparing your current portfolio to a custom model portfolio, we may recommend changes to better align your portfolio's risk and return with your financial goals.

• Cash Flow and Retirement Planning
  Are your desired retirement age and spending goals achievable? Based on information you share with us, we analyze your current assets, spending and savings rates to project when you may be able to retire and how long your assets will support your desired spending levels in retirement. We can also calculate the results of retiring earlier or later, saving more, spending less, or increasing the rate of return on your assets to achieve your retirement objectives.

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• Education Planning
  Gain insight into college costs today and in the future so that you can plan realistically. We can show you current and projected costs of virtually any college in the United States. Using information you share with us, such as your current available investments and planned savings, we help you identify the most appropriate means to fund college expenses, and provide you with summaries of tax-advantaged savings plans, loans and government incentives available to cover education costs.
  

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• Insurance and Long-Term Care Planning
  What financial risks would your family bear in the event of a premature death or long-term illness? This step helps you understand your family's short- and long- term financial needs and how best to meet them. With respect to a death, we analyze resources that would be available to the survivors, how their needs may change, and what shortfall may occur. Our long-term care analysis provides you with insight into the assets that would be necessary to meet your anticipated expenses, based on information you share with us including existing assets, desired income and your perceived risk of the need for long-term care. We can also help you evaluate the costs vs. benefits of using long-term care insurance to anticipate future needs.
  

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• Estate Planning
  To help you protect your wealth and ensure its eventual transfer according to your wishes, this step includes general estate planning rules and concepts. Based on information you share with us, we illustrate your current estate situation and suggest planning alternatives that may benefit you and your heirs. In conjunction with your attorney, we can also project your future estate taxes and illustrate tools for reducing your taxable estate, including credit shelter trusts, charitable trusts, insurance trusts and gifting strategies.¹
  

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• Implementation and Ongoing Review
  Over the course of our 7-Step Financial Planning Process, our specialists provide ideas and offer recommendations based on their experience and point of view about how best to reach your financial goals. They will identify opportunities for you to put your plans into action in order to help you achieve your stated goals. We see financial planning not as a one-time event, but an ongoing process to assure that you have the resources in place to help you accomplish your objectives.
  
  

For more information, contact the Private Client Group