Financial Plans are prepared and a fee charged based upon the level of service provided. The fee for each plan is quoted in advance of all work being performed, but only after the client has met with a Castle Financial Advisors representative for an initial, complimentary financial evaluation. Typically, the introductory meeting explores the financial concerns of the client. It ascertains if the client can benefit from the financial planning services offered by Castle Financial Advisors and if the client is willing and able to allocate sufficient time to the financial planning process.
In general, a financial plan will address the following areas:
Financial Organization: Aid a client in the organization of their important financial documents and determining their personal financial objectives. The purpose is to provide the client with a clear understanding of their current financial position and pointing out specific areas of concern.
Risk Management: Identify the concerns as it relates to the safe guarding of a clients assets and other personal property from adverse risk or liability. Protecting the financial interest of a family in the event of a death or a debilitating illness or injury of a family member.
Income Tax & Cash Flow Analysis: Review the ongoing expenses to run a client’s household. Identify expense items that can be redirected to savings and investment. Discover income tax savings measures or debt restructure techniques to improve cash flow.
College Funding: Project the future college costs and review programs that help a client provide the needed capital to meet this future (or current) expense.
Investment Analysis: Evaluate if the current investments owned by a client meet their stated investment objectives. If necessary, suggest investment alternatives that may be appropriate and consistent with the client’s financial plan.
Retirement Planning: Review the client’s personal and employer sponsored retirement programs. Consider new strategies that could be introduced that better help a client meet their retirement goals. Identify the qualified plan options that are available and determine the viability of these plans for clients who are business owners.
Distribution Planning: Determine a methodology for a client to access their wealth in retirement in a way that is consistent with their cash flow needs and income tax concerns. This methodology also protects the interests of a surviving spouse.
Estate Planning: Coordinate asset titling, beneficiary designations and other ownership arrangements with the estate plan executed by a qualified attorney.
The financial planning professional gathers the required information to draft a financial plan through in-depth personal interviews with clients. Information gathered includes the client’s current financial status, current and future goals and attitudes toward risk. The client is asked to provide various documents to support the information gathered during these interviews. Castle Financial Advisors suggests that a client who chooses to implement the recommendations contained in the financial plan work closely with their other professional advisors. The implementation of the planning recommendations is solely at the client’s discretion.
Focused Financial Strategies
Not everyone is a candidate for comprehensive Financial Planning. It is possible that your current situation does not warrant this approach. It is also possible that even though you may be an excellent candidate for Financial Planning, other circumstances prevent you from proceeding at this time. Our Focused Financial Strategies give you the ability to implement sound financial solutions to specific concerns that you may have. Areas that can be addressed through Focused Financial Strategies include:
- Cash Flow & Debt Management
- Investment Portfolio Analysis & Review
- Capital Expenditure Analysis
- College Funding Programs
- Personal Insurance Review
- Life Insurance Review
- Disability or Long Term Care Insurance Review
- Asset Protection
- Income Tax Reduction
- Maximizing Retirement Income
- IRA Distribution Analysis
- Planning for a Special Need
- Estate Planning
- Estate Tax Reduction