1) Define Objectives and Lifestyle Goals – Family, Risk, Short Range, Long Range
The first step includes working with the client to develop specific financial objectives and goals. SBC considers the client’s lifestyle, family, and what the client wants to achieve. The client’s objectives should balance both short and long-term goals and consider the level of risk vs. return with which the client is comfortable.
2) Discovery – Collect necessary information; Tax Returns, Cash Requirements, Assets, Liabilities, Benefit Plans
SBC analyzes the client’s financial situation through a detailed study we call discovery. SBC’s financial advisors will confidentially review the client’s current finances with an eye toward problem areas and opportunities.
3) Analyze Objectives –Sensible, Consistent, Balanced
The client’s financial goals must make sense to the client and to the client’s financial advisor. Reaching the best decision involves the balance of conflicting objectives, expectations, and priorities. A comprehensive analysis will help the client sort out consistent, realistic financial goals.
4) Compare Alternatives –Risk, Timing, Tax Considerations
The client and their financial advisor compare alternative paths to the client’s goals. Primary and contingency plans are developed from the many strategies available to the client. Finding the appropriate strategies involves weighing the strengths and weaknesses of many criteria, including risk, funding, priorities, economy of effort and many other variables.
5) Implementation – To ensure the client’s financial strategy works in concert with client’s objectives
SBC has the necessary technical skill and support systems to successfully implement financial strategies tailored to the client’s specific situation. SBC’s wide range of services enable them to put the client’s plan into action, in cooperation with the client’s legal and tax advisors when necessary. Ultimately, SBC considers it their responsibility to ensure that all efforts are focused on the goals of the client, and not on SBC’s.
6) Periodic Reviews – Make sure that the plan is still on course and that minor adjustments are made early to help avoid major corrections later.
This step is critical as the economy, markets, and legal environment are always changing. A regular review allows SBC to make the necessary adjustments to the client’s plan along the way to their financial goals.