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THE FINANCIAL PLAN:
Action Plan
A client's action plan consists of the recommendations made by their Wealth Manager addressing the following areas: Allocations of Savings, structure of Cash Reserves, Insurance strategies and products, Retirement Strategies, Estate Strategies, and strategies to meet their individual expense goals.
Savings & Cash Reserves Plan
A client's savings and cash reserve plan consists of the recommended allocation of their systematic savings as well as recommended structure for their cash reserves.
Analysis of Current Position
This section addresses issues and presents an analysis around the client's current financial position. Objectives Summary, Facts Summary, Worksheets, Balance Sheet, Detailed Balance Sheet, Cash Flow, Detailed Cash Flow Over 5 Years, Assets, Income Tax, and Ledger.
Insurance Plan
The client's insurance plan conducts a detailed analysis addressing the following Protection areas: Life, Disability, Long-Term Care, Medical, Auto, Home Owner's, and Umbrella Insurance.
- Financial Impact of Premature Death, Insurance Income Replacement, Insurance Cash Flow Analysis, Needs vs. Resources Analysis, Capital Resources, Impact on Resources, Resources and Expense Summary, Life Insurance Analysis, Personal and Family Needs, Life Insurance Summary, & Minimum Insurance Needs Summary.
Retirement Plan
The client's retirement plan addressed the following aspects of their Retirement: Basics of Planning, Retirement Goals, Income vs. Expenses, Asset Spend-Down, What-If-Scenarios, Retirement Planning Options, Earliest Retirement, Maximum Spending in Retirement, Minimum Savings for Retirement, Cost of Waiting, Retirement Vehicle Strategies, Funding and Spending Summary.
Estate Plan
The client's estate plan becomes the most effective planning tool for a complex financial picture. There are many tools and strategies that are addressed in this section of the Financial Plan: Gift taxes, Detailed Flow Charts showing movement of assets among individuals entities, and generations; Estate Liquidity, Estate Transfer, Estate Distribution, Many Advanced Planning strategies, Trusts, Family Limited Partnerships, Use of Insurance Vehicles, and Detailed Estate Calculations. Implementations of many estate planning strategies require collaboration with an attorney.
Goals Plan
This is an area that a client chooses to plan for various short-term expenses such as a house, vacation, car, etc.
THE INVESTMENT PLAN
Action Plan
Risk Assessment
Asset Allocation
Analysis of Current Investments
Recommended Securities
Supporting Research
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