| FINANCIAL
COACHING
What is financial coaching? It has been our experience that
often when a financial plan is created it focuses too much
on how much one needs to invest. But what about your cash
flow, budget, wills, trusts, real estate and mortgages? What
about your lifestyle, your family and charity? These are important
issues that need to be addressed.
Financial Coaching works on all of these issues and more important
helps you to accomplish them.
The Wealth Manager™
Have you ever done a financial plan? Many people would answer
no, and of those saying yes, many would probably find their
plans focused primarily, if not solely, on their investments.
The Wealth Manager™ is a comprehensive, full financial
management process designed to get to the nitty-gritty of
what you need to do to help make your financial future a success.
How Does It Work?
There are three elements to The Wealth Manager™.
The Discovery Process
This meeting (which will take 1-2 hours) is where we begin
the process of determining exactly where you are, and what
you have been doing up to this point. Prior to the appointment
you will receive a letter outlining the preparation you need
to do. This involves gathering information like tax returns,
wills and trusts, investment statements, insurance policies,
credit card and bank account statements.
During the meeting your coach (advisor) will review this
information with you and discuss your financial goals and
objectives. Your coach will prepare a draft of your Wealth
Manager™, based on this Discovery Process, for presentation
to you during the second meeting, The Accuracy Navigator.
The Accuracy Navigator
This 1-1.5 hr meeting is to review the draft of your Wealth
Manager™. It is important to ensure that your coach
accurately understood all the pertinent information presented
during The Discovery Process. We will review all sections
of your Wealth Manager™: college tuition funding, disability
issues, survivor planning, financial independence, budgeting,
taxation, liability, auto, homeowners and earthquake insurances,
mortgage paperwork, wills, trusts, real estate titles, check
register, and credit card statements. Your coach will then
update your plan in preparation for the third meeting, The
Strategic Planner.
The Strategic Planner
This meeting can take up to four hours (sometimes split into
2 meetings). We will review your completed Wealth Manager™,
which might have thirty sections detailing your financial
life. At the end of the binder you will find The Strategy
Circle™ which outlines the steps that are currently
necessary in order for you to begin your journey towards financial
independence. With your input these strategies will be prioritized
and dated. We will also determine who will be responsible
for this particular strategy; You, your coach, your accountant,
attorney, stockbroker etc. Each strategy will then be broken
down into little bite-size pieces so you will know exactly
what needs to be done to complete it.
If you purchase either of our Strategic Coaching Implementer
services, your coach will work with your insurance and investment
professionals, and tax and legal advisors to help you complete
those items that need to be accomplished immediately, and
follow up with those that are pegged for future action.
What Does It Cost?
The Wealth Manager™ has a one-time fee of $2,750. This
is due and payable in full at the beginning of the first meeting,
The Discovery Process. You can pay by check or by credit card
(click on the Wealth Manager Pay-Pal button
below). This fee includes:
- Three or four face-to-face meetings with your advisor,
The Discovery Process, The Accuracy Navigator and The Strategic
Planner.
- All mailing, faxes and Fed Ex or courier charges.
- All telephone calls with any other advisors.
- Your personal Wealth Manager™ Binder.
- A complete review of all insurances.
- An analysis of your current investments*
- A risk tolerance assessment to determine your 'sleep
at night breaking point'.
- Review of wills and/or trust documents**
- Review of tax returns**
- Estate tax calculations**
- Education, survivor and financial independence calculations.
- A Kolbe Index A, a questionaire that measures your instinctive
method of operation.
- Review of three months bank and credit card statements.
TOP
The Wealth Manager Plus™
The Wealth Manager Plus™ is for people with a net worth
of over three million dollars.
In addition to everything included in The Wealth Manager™,
The Wealth Manager Plus™ addresses: irrevocable trusts,
personal residence trusts, charitable planning, off shore
planning, foundations, family limited partnerships, grantor
retained income trusts and grantor retained annuity trusts.
How Does It Work?
There are three elements to The Wealth Manager Plus™.
The Discovery Process
This meeting (which will take 1-2 hours) is where we begin
the process of determining exactly where you are, and what
you have been doing up to this point. Prior to the appointment
you will receive a letter outlining the preparation you need
to do. This involves gathering information like tax returns,
wills, and trusts, investment statements, insurance policies,
credit card and bank account statements.
During the meeting your coach (advisor) will review this
information with you and discuss your financial goals and
objectives. Your coach will prepare a draft of your Wealth
Manager Plus™, based on This Discovery Process, for
presentation to you during the second meeting, The Accuracy
Navigator.
The Accuracy Navigator
This 1-1.5 hr meeting is to review the draft of your Wealth
Manager Plus™. It is important to ensure that your coach
accurately understood all the pertinent information presented
during The Discovery Process. We will review all sections
of your Wealth Manager Plus™: college tuition funding,
disability issues, survivor planning, financial independence,
budgeting, taxation, liability, auto, homeowners and earthquake
insurances, mortgage paperwork, wills, trusts, real estate
titles, check register, and credit card statements. Your coach
will then update your plan in preparation for the third meeting,
The Strategic Planner.
The Strategic Planner
This meeting can take up to four hours (sometimes split into
2 meetings). We will review your completed Wealth Manager
Plus™, which might have thirty sections detailing your
financial life. At the end of the binder you will find The
Strategy Circle™ which outlines the steps that are currently
necessary in order for you to begin your journey towards financial
independence. With your input these strategies will be prioritized
and dated. We will also determine who will be responsible
for this particular strategy; You, your coach, your accountant,
attorney, stockbroker etc…. Each strategy will then
be broken down into little bite-size pieces so you will know
exactly what needs to be done to complete it.
If you purchase either of our Strategic Coaching Implementer
services, your coach will work with your insurance and investment
professionals, and tax and legal advisors to help you complete
those items that need to be accomplished immediately, and
follow up with those that are pegged for future action.
What Does It Cost?
The Wealth Manager Plus™ has a one-time fee of $3,750.
This is due and payable in full at the first meeting, The
Discovery Process. You can pay by check or by credit card
(click on the Wealth Manager Plus Pay-Pal
button below). This fee includes:
- 3-4 face-to-face meetings with your advisor, The Discovery
Process, The Accuracy Navigator and The Strategic Planner.
- All mailing faxes and Fed Ex or courier charges with
you .
- All mailing faxes and Fed Ex or courier charges with
any other advisors.
- All telephone calls with you.
- All telephone calls with any other advisors.
- Your personal Wealth Manager Plus™ Binder.
- A complete review of all insurances.
- An analysis of your current investments*
- A risk tolerance assessment to determine your 'sleep
at night breaking point'.
- Review of wills and/or trust documents**
- Review of tax returns**
- Estate tax calculations**
- Full discussion and description of advance planning techniques
such as irrevocable trusts, charitable trusts, LimitedLiability
Companies, Limited Family Partnerships and the like.
- Education, survivor and financial independence calculations.
- A Kolbe Index A, a questionaire that measures your instinctive
method of operation.
- Data entry of two months bank and credit card statements
using Quicken
TOP
The Strategic Coaching Implementer™
Now you have completed your Wealth Manager™ is that
it? We do not think so. Planning is a process, not simply
something that you do and then never think about again. Change
is the one constant in life. As your circumstances change
and markets move, your financial priorities must adapt.
The Strategic Coaching Implementer™ is a process for
tracking the action items or strategies developed at the conclusion
of your Wealth Manager™. We will work with you, your
insurance and investment professionals, tax and legal advisors
to help you implement these action items. The additional coaching
provided by the Strategic Coaching Implementer™ will
keep you focused on achieving your financial goals and help
ensure that your plan is up to date.
What Will Be Done?
Review of life insurance
Review of disability income insurance
Review of medical insurance
Review of dental insurance
Review of optical insurance
Review of long term care insurance
Review of automobile insurance
Review of homeowners insurance
Review of earthquake insurance
Review of liability insurance
Review of asset allocation
Review of investment performance*
Review of retirement plans (401K , pension, IRA, etc)
Review of employee benefits package (if applicable)**
Review of last two years tax returns
Review of wills and or trusts (if applicable)
Review and update of your Wealth Manager™
Review and update of household budget including review of
credit card and bank statements and Quicken setup if applicable.
Review of current mortgage(s) including necessary assistance
to restructure them
Review of credit card debt including necessary assistance
to restructure it
Review of credit history
Assistance with cafeteria plan choices
Review of the Strategy Circle™
Review of Social Security statements
In addition to the in-depth review the following will be
provided:
Quarterly meetings with your coach (one hour per meeting)
Telephone calls with other advisors (up to one hour per quarter)
Up to fours hours of technical in-house data analysis per
year
On going strategy implementation assistance
What Does It Cost?
Other than your time, which is a critical piece of the equation,
your total cost for the service is only $1250 annually (or
$100/month using Pay-Pay).
TOP
The Strategic Coaching Implementer Plus™ is an in-depth
process for tracking the action items or strategies developed
in the Strategic Planner Meeting(s). We will work with you,
your insurance and investment professionals, tax and legal
advisors to help you implement these action items. The additional
benefits offered by the Strategic Coaching Implementer Plus™
are monthly meetings with your coach, unlimited access to
the PFG team and a special toll free access number.
What Will Be Done?
In addition to the services offered by The Strategic Coaching
Implementer™, The Strategic Coaching Implementer Plus™
offers
Monthly 1 hour meetings with your coach (as opposed to quarterly
meetings)
Unlimited access to the PFG team
Special toll-free number only available to Strategic Coaching
Implementer Plus™ members
What Does It Cost?
Other than your time, which is a critical piece of the equation,
your total cost for The Strategic Coaching Implementer Plus™
is only $2475 annually (or $225/month using Pay-Pal).
The Strategy Circle is a copyright product of The Strategic
Coach Inc., Toronto, Canada, and is used with their permission.
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