Each of our clients has a unique situation requiring a unique combination of products and specialists, but we have found through experience and through research that the best planning for all our clients is achieved through a four-phase planning process. Though the questions we ask and the steps we take will vary for each client to meet their particular needs, working within framework of the four-phase planning process will keep everyone focused on understanding the individual problems and on finding the right solutions.
The Four Phases of the Planning Process
- Phase I
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We work with the client and their team of advisors to determine both the expressed and underlying needs of that client and their situation. We prioritize these to determine which areas the client would be willing to dedicate time and resources to resolve. We then explore the parameters and boundaries of those resources the client is willing to commit. Lastly, we discover the client's level of commitment to implementing a solution.
- Phase II
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We consult and collaborate with the client's team of advisors, complemented with our financial planning specialists where advantageous, to work through various solution models, benchmarking them against the client's set of parameters. We build a solution model, and present that model to the client. We may repeat this step to fine-tune the solution model to previously undiscovered nuances. We will make necessary adjustments until the client and the planning team arrive at a consensus on the solution. Lastly, we obtain a commitment from the client to pursue the solution.
- Phase III
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We then shop the market based on the solution model with the agreed upon parameters, and determine if there is a comparable solution to meet the need. Once a solution is found, we implement the solution.
- Phase IV
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In the final phase, we provide administrative services, and monitor the solution to assure that it remains relevant to the client's goals and success.
Through this apparently simple model, we are able to organize and manage the complex issues that develop through planning and the dynamics of having a team collaborate to reach consensus. The largest role we play in this process is to quarterback the resources and the process itself. This process is designed to be an honest assessment for the client, allowing them to not only identify key issues and shortfalls, but also work with a matrix of possible solutions.