A Holistic Financial Planning Process
Gates Pass Advisors’ financial planning process builds on the Financial Planning Association’s Standard of Care to capture a complete, holistic view of each client’s personal and financial goals. We then create a customized plan that incorporates our best ideas. As an independent firm, we have the freedom to select the finest investment solutions to serve your needs.
Although every client situation is unique, our process typically follows these steps:
During this initial discussion, we walk you through a detailed discussion of financial and non-financial goals. We address any concerns and work with you to develop a clear understanding of your goals for engaging a financial advisors. Through this process, we address areas such as:
- Current financial status
- Life milestones and personal goals
- Ideal vision of retirement
- Generational needs and planning
- Near and long term anticipated needs
Here, we gather and evaluate detailed information and documents around important areas that include the following:
- Income, expenses and cash flows
- Protection needs
- Income tax
- Risk tolerance
- Asset allocation and diversification
- Legacy planning
Next, we use all of the information collected to provide a Comprehensive Analysis and to develop a plan with specific recommendations to achieve your financial goals. This includes:
- Personal Financial Planning Recommendations – We provide a comprehensive review of the components that influence a successful personal financial strategy, such as cash flow, insurance programs, estate plans and tax management. We work collaboratively with specialists in these respective areas.
- Investment Policy – We develop a written personal investment policy to reflect the specific strategy. This will incorporate asset allocation parameters designed to meet objectives and be consistent with your risk tolerance.
Once we have worked with you to finalize investment recommendations, the Gates Pass Advisors team implements your customized strategy coordinating with your other advisors in the areas of cash flow, tax, insurance and estate planning. We then allocate to carefully selected investment managers for each asset class through a process that incorporates both passive and active styles of investing as appropriate.
We regularly monitor market conditions and the performance of your portfolio. Additionally, we hold scheduled meetings to verify plan results vs both personal life experience and prevailing economic and market conditions. In this way, we keep your planning current and address any personal changes that would affect your implemented strategy. You will receive timely and informative performance reports on a quarterly basis. When appropriate, we make changes to the investment strategy after taking into consideration your cash flow needs, tax consequences and goals and objectives.