- Fit Meeting
- Data Gathering
- Planning Review
- Measuring Risk
- Specific Investment Discussion and implementation
We want to outline the process we employ when we begin working with potential new clients. This may be very different than other experiences you may have had with brokers, advisors and other financial planners in the past.
This process has been constructed not only for your benefit, but also to help us do the best work possible for our clients.
Our process begins with a “fit meeting.” This is typically a 20-30 minute meeting. We prefer to hold these meetings over zoom. But we are completely OK if a potential new client would like to come into the office, or meet over the phone. Your choice.
There is no cost or obligation for this meeting.
We ask that you bring nothing to this meeting. Leave the tax returns, account statements and other documents at home.
The purpose of a “fit meeting” is simply an opportunity to “get acquainted.” We realize this may be very different than any other groups you may have met with previously. This is the way we prefer it.
Through this fit meeting, we want to discover if we will “be a good fit” working together. This is not the meeting for details and specifics.
At this stage of our process, we want to hear your story, and permit us to tell you about us. We aim to create a low-key, stress free conversation — an opportunity for you to ask as many questions as you need to feel like we could be a good match moving forward.
The “fit meeting” may seem unnecessary for some. However, we have made the fit meeting the first required step as we begin working together.
Presuming we both would like to work together, we then progress to data gathering.
During the data gathering stage of our process, we create a secure encrypted portal for you to upload documents to share with us. We will have ongoing communication through your preferred method. For example, if you prefer email, that’s how we will communicate. If you prefer zoom calls, that’s how we can communicate. Tell us how you prefer to work together.
Once the data gathering stage has been completed, the next step in the process is planning review. We will construct the basic building blocks of a financial plan. We’ll also review with you the balance sheet and personal financial statement we have constructed – based on the information you provided.
This step of the process is crucial to make certain we have a very clear understanding of your entire financial situation.
The next step in our process is measuring risk. We have tools we use to measure the appetite you have for risk. And we also measure how much risk is found embedded in your current investments. Our ongoing conversations, along with your financials and risk analysis, should provide a basic understanding of where you stand.
At this point in the process, we can discuss a specific investment path for you, and how to implement this plan. As a fiduciary, we are required to know your situation prior to making investment recommendations and planning suggestions.
It is a fiduciary responsibility of financial planners and investment advisers to know everything possible regarding a client’s situation before making financial planning suggestions and investment recommendations.
This is the process we have employed with all of our new clients for the past several years. We find it works best for all parties involved. No mis-matches, no surprises, no bad fits.
If you are ready, step one of our process begins with scheduling a fit meeting, at the date and time of your choosing. You can schedule a meeting right here: https://mullooly.net