Financial Planning
Comprehensive Financial Planning is the foundation of wealth management for those planning a secure retirement as well as for multigenerational wealth strategies. McBeath Financial Group’s fee-based financial planning program utilizes a holistic approach that begins with our client’s goals and encompasses all areas of their finances.
Financial planning is a loosely used term within the financial industry. But there is a difference between a fee-based financial planner and an insurance salesman or maybe a broker. Many will use the term ‘financial planning’ interchangeably with what they consider ‘retirement planning’. Most likely they will recommend one of their products that appear to match their client’s time horizon and risk tolerance. They may even provide a retirement income strategy. For some people, maybe that’s all they want or need.
A holistic approach to financial planning.
For those that are looking for much more than an investment allocation strategy, McBeath Financial Group specializes in fee-based comprehensive financial planning. It entails a holistic approach that integrates all financial components together in pursuing financial goals.
Every individual has a unique situation and every piece of their financial situation has an impact on the entire picture. As such, no individual investment, transaction or financial strategy can exist in a bubble, but must fit as part of the long-term, financial plan to achieve goals. A complete financial plan must include income distribution planning, Social Security filing options, tax strategies, increased healthcare costs and assisted living planning, inflation adjustments and estate legacy planning. Each of these individual items are inseparable from the others in how they impact the overall financial picture. Therefore, a financial plan’s recommendations are often complex and strategically balanced.
It all begins with a conversation.
Our process is focused on collaborating with our clients to flesh out their desires for their life and family goals. Our position is not to sell a product, but to provide the reporting and feedback necessary for them to make their own informed decisions, based upon the facts and their own goals.
The consultative approach to our meetings is often similar to ‘financial therapy’, where we work together with our clients to discover their goals and assess the current state of their finances.
Through a series of meetings we work with our clients to create a financial plan based upon their decisions.
The TEAM approach to planning.
Financial details are dissected and carefully imported into various advanced software programs. From your information we are able to generate various detailed reports that we can use to guide you through complex financial decisions.
While our Technology Empowered Advisor Method (TEAM) applies advanced computer algorithms in projections, it’s the experienced advisor that analyzes and interprets the data to offer guidance and options for our clients.
In explaining to our customers recommendations and forecasts, as well as many ‘what-if’ scenarios, we often refer to their finalized report. This includes over 50 pages of detailed analysis, projections and reporting that details the complete financial plan. In addition, our client’s financial overview is accessible to them by utilizing our Wealth Management Tools. Each client has access to this online financial reporting tool that details the plan, as well as tracks the individual’s investments, expenses and balances in real time.
With all of this, we realize it’s important not to overwhelm our clients with meaningless data, but to clarify and project outcomes that are important to them. Simplifying solutions for peace of mind is our goal.
Learn more about what's in a financial plan!
A fluid process.
The initial plan will include defining objectives and personal preferences for goal achievement. Building a relationship and trust is as important as the planning. With the initial financial plan, we’ll have a customized strategy for our clients finances. While the course has been charted, in-time, changes will happen in life. It may be necessary to adjust the plan to stay on course. This is where the real value in the process is revealed when using the financial planner as an investment advisor. For most clients that are also investment clients, there is no additional cost for access to ongoing financial advice and financial plan updates on a regular basis!
We offer our prospective clients a complimentary, no obligation discovery meeting. We welcome you to make the first step and simply click below to choose a time for a 20-minute complimentary introduction call with Krista. It's a great way to get to know each other and determine if a discovery meeting might be beneficial for you. Of course, our office staff is always happy to help with scheduling as well and can be reached at 309-808-2224.
