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The Master’s Minute

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The Master’s Minute – Beginning the Journey

July 12, 2022 by Jonathan Thompson

In his June 28th blog post, Garry highlighted what our process looks like when new people first contact our office after having been referred to us. Today, I want to outline our onboarding process for those people that decide to work with us in a formal planning relationship.

Our onboarding process is a very intentional eight-week process that we have built as a structured, comprehensive dive into each client’s personal and financial circumstances. Our desire is to get to know each person on a deeper level through exploring what is most important to them. We also want to uncover any issues that could crop up and become an impediment to achieving the person’s goals. The onboarding process is structured to uncover the foundational planning items first and build upon these items throughout the remainder of the process, as follows:

  • Week 1 – During this week we do a deep dive into your values, goals and desires. We use these values and goals to develop a framework for future planning decisions and recommendations.
  • Week 2 – Then, we collect all the financial information and corresponding documentation that we need in order to organize your net worth, cash flow, risk management plans and tax situation.
  • Week 3 – Your advisor reviews all the information collected and reaches out with any clarifying questions or additional information needed.
  • Week 4 – On Monday of week 4, the entire advisory team meets to discuss all the information gathered in order to discuss our planning recommendations and build out your financial plan.
  • Week 5 – You will meet with your advisor to see the team’s recommended financial plan, along with corresponding cash flow and investment scenarios based on your goals.
  • Week 6 – During this week, your advisor will analyze your insurance needs and estate plan in order to determine what changes, if any, could be warranted.
  • Week 7 – Your advisor will discuss any tax planning items that could be valuable to consider, in conjunction with your tax professional. This week will also involve discussion of the person’s charitable giving goals.
  • Week 8 – This meeting serves as a recap meeting, either in person or via a video call. During this meeting, we talk through any actionable planning items uncovered. We will present you with your completed one-page financial plan, providing an overview of everything discussed thus far along with action steps and other planning items in preparation for our ongoing planning relationship together.

We have built our process to be intentional and proactive, with the desire to see ongoing alignment, assurance, and contentment. How have you benefitted from professionals in your life that approach their working relationship with you in a very proactive, intentional manner?

Filed Under: Master's Minute

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Securities offered through Securities America Inc., member FINRA/SIPC. Master's Advisors is not affiliated with the Securities America companies. Advisory services offered through Securities America Advisors, Inc. This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed. This communication is strictly intended for individuals residing in the states of CO, DE, FL, IL, IN, KY, MD, ME, NC, NE, NJ, OH, OK, PA, SC, TN, TX, VA, VT, WV, WY. No offers may be made or accepted from any resident outside the specific state(s) referenced. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the websites provided here, you are leaving this website. We make no representation as to the completeness or accuracy of information provided at these websites. The company is not liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third party technologies,  websites, information, and programs made available through this website. When you access one of these websites, you are leaving our website and assume total responsibility and risk for your use of the websites you are linking to. All images and Content Copyright © 2020 Masters Advisors, Inc. Securities America and its representatives do not provide tax or legal advice; therefore it is important to coordinate with your tax or legal advisor regarding your specific situation.

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