Planning Process

The CERTIFIED FINANCIAL PLANNERTM Board of Standards lays out the formal financial planning process. If you engage with Corner Post Financial Planning for a financial plan, these are the steps we will follow:

ESTABLISH THE RELATIONSHIP.  What areas will be evaluated? Here we will define responsibilites. Also, we will discuss compensation, how long the relationship will last, and how we will make decisions. 

GATHER DATA AND DEFINE YOUR FINANCIAL GOALS.  This includes the production of documents as well as discussion about your financial situation. The discussion can guide you to realize your goals, and we can also establish timeframes.  You may also want to discuss your comfort level with investing.

ANALYZE AND EVALUATE THE DATA. Based on the scope of the engagement, we will analyze and evaluate the data uncovered during the data-gathering phase. At this point there is often much back and forth with follow up questions. Many clients also remember they forgot to tell us something. That's okay. We may analyze your assets, liabilities and cash flow, current insurance coverage, investments and tax strategies.

PLAN PRESENTATION. We schedule a meeting to go over your plan. We review assumptions, your financial status, and our recommendations. At this time we engage in an open-ended discussion about our analysis and you provide feedback on our work and ask any and all questions.

PLAN IMPLEMENTATION.  We will agree on how the plan will be implemented. We may work as a coach for you to guide you through the process, and often coordinate with or refer to other professionals including attorneys and accountants to address recommendations in the plan.

MONITORING.  It is important to track your progress on your goals. If you have chosen us to continue monitoring your plan, we will coordinate follow up check-ins and appointments as necessary.