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Financial Planning

We find that this area remains the greatest need for most individuals. Financial Planning, at its core, is the process of evaluating all aspects of one's financial household and creating a road map for success to help an individual and family meet their short-term, intermediate, and long-term goals.

What is the Personal Financial Planning Process?

The financial planning process can be thought of as a science, where a logical step-by-step process is taken to assist you in achieving your financial goals, but it also requires an artful, experienced-based approach. Our primary focus will be to coordinate all areas of your total planning picture, to help achieve the highest level of outcome possible for all concerned - emotionally and financially.

The Financial Planning Process typically entails a review of the following areas:

  • Budgeting and Cash Flow Analysis
  • Insurance Evaluation
  • Investment Review
  • Retirement Planning
  • Tax Assessment
  • Estate Planning Review

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Financial Planning In-Depth:

  • Your choice of the right financial professional is not a simple one. It could also be one of the most significant investment decisions you will make in your lifetime. At West Coast Financial Group, Inc., our advisors' primary objective is to help you with financial security today and far into the future. They conduct an in-depth evaluation of your financial profile to create a structured plan based on saving and investing. Your financial goals will dictate which financial instruments they recommend for implementation. They will help you maximize your financial efforts with a well-organized plan and continue providing details and recommendations throughout your relationship with them.

What is Financial Planning?

Financial planning is gathering information about a client's financial health and well-being to meet the client's financial goals. Through an interview process, a client's financial concerns and future goals are established. The information gathered is then analyzed and compared with the client's stated goals. From this comparison, recommendations can be made to help clients adjust their financial behavior so that any gaps may be filled and/or any current plans may be altered to help meet their goals. Or, best-case scenario, it can simply validate that the path they are currently on is appropriate.

Is a Financial Planner right for me?

Whether you have limited resources or a sizable estate, you could benefit from the services of a financial planner.

Today, it is almost impossible for anyone not working in the financial field to keep up with the rapidly changing financial products, tax laws, and the volatile economy.

Financial product information and planning ideas abound... each claiming to be the best. You are given financial advice in articles, radio talk shows, and advertisements, but this information is often fragmented and unrelated to your personal financial situation.

Putting all this information together into a workable plan can be a daunting project for individuals. Our advisors strive to explain your options in easy-to-understand terms showing how each option could affect you.

The busier you are, the less time you have to devote to sorting out these issues, and yet, a comprehensive financial plan can be the key to your financial success. Good planning always costs less than good reacting.

Benefits of working with a Financial Planner?

The benefits of taking some time and sitting down with our advisors to create that financial planning roadmap are numerous and will depend on your individual circumstances. However, one of the key benefits of a well-laid-out financial plan that is implemented and monitored, is that it may allow you to reach financial independence sooner than if you had not formulated a plan of action.

Financial independence can mean different things for different people, but for many, it means the ability to cease regular employment knowing that they have enough assets and retirement income to maintain a certain lifestyle for the rest of their life and provide for their beneficiaries after death.

Since everyone has different goals and objectives and everyone has different facts and circumstances, it is conceivable that your current financial decisions are not compatible with your true goals and objectives.

What are the Services to Expect from a Financial Planner?

At West Coast Financial Group, Inc. our advisors take the time to get to know you, your financial situation, your financial goals, and your risk tolerance. When you decide to work with us, you can expect to receive some or all of these services:

Personal attention: Our advisors will take the time to go through a full interview with you, asking questions to get to know your entire financial situation, your risk tolerance and your goals before setting up a customized financial plan.

Help develop an asset allocation strategy: Help develop an asset allocation strategy: Once you've worked with our advisors to determine your risk tolerance, they can help you allocate your money based on a mix of asset classes with varying degrees of risk that fit your time horizon and comfort level. However, asset allocation does not guarantee a profit or protect against a loss.

Guidance on investment strategies that match your goals: When you're comfortable with a financial plan and have determined an asset allocation strategy, our representatives, through their affiliation with Lincoln Investment, will then offer guidance and education regarding the different classes of mutual funds and securities that may best assist you in accomplishing your financial goals.

Providing Education: With many alternatives available to the individual investor in the modern financial markets, our representatives will assist in researching the various investment vehicles available on the market today. Our representatives are continually learning of new opportunities for investors and are eager to share our knowledge with current and potential clients. It is a top priority for us to provide our valued clients with the most current, up-to-date, and useful information possible.

Continuous Monitoring of Portfolio Performance and Emerging Opportunities: Our representatives continuously monitor the performance of your portfolio and inform you of new opportunities that may add value to your investment strategies.

Ongoing, regular check-ups: Your advisor will call on a regular basis to see if your financial situation has changed. If you've gotten married, switched jobs, had a child, or purchased a home, your financial plan may need to be adjusted to account for these changes. At least once a year, our representatives will review your account with you and make any adjustments necessary to help ensure your plan continues to meet your situation and goals.

What is the Personal Financial Planning Process?

The financial planning process can be thought of as a science, where a logical step-by-step process is taken to assist you in achieving your financial goals. Our advisors' primary focus will be to coordinate all areas of your total planning picture to help achieve the highest outcome possible for all concerned - emotionally and financially.

1. Initial Interview

You will meet with an advisor to discuss how they can impact your personal, family, and business goals.

2. Data Gathering

As a first step towards working together, they spend time with you in a fact-finding interview. This conversation provides them with sufficient information to conduct an accurate analysis. They begin to discover more specifics about your goals, values, and financial situation.

Examples of the information that will be gathered include:

• Current income taxation
• Investment and Asset Management
• Wealth Accumulation or Preservation
• Income/Cash Flow Planning
• Financial Independence Business Continuation or Disposition
• Business Continuation or Disposition
• Estate Planning and Gift & Estate Tax Planning

3. Analyze and evaluate your financial status

Our advisors evaluate the data collected to understand better your situation and your unique requirements to create your Financial Plan. All the information gathered in Step 2 will be incorporated, and it's time to start determining if you can meet your stated financial goals and objectives. If you are unable to meet your goals, then current problem areas that are hindering you from meeting these goals can be identified.

4. Recommending a Plan

This step involves meeting with our advisors to discuss the analysis and plan recommendations. They determine the direction of plan development and prioritize issues to resolve. They are here to help you with your goals in the way you desire and see fit.

Our advisors want to ensure that you understand and are comfortable with the plan presented and will have the ability and discipline to execute the recommendations on a current and ongoing basis if required.

5. Implementing the Plan

This step is crucial to ensure that the recommendations in Step 4 are put into action so you can commence your journey of financial independence. At this time, you should have a solid understanding of what needs to be done to help maximize income and assets to have the greatest impact on your desires, goals, and dreams. This will act as the implementation guide and a benchmark for monitoring the project as we all move forward in time. As a point of service, often noted in the financial plan, are future implementation strategies that will come up for review. Comprehensive planning is always an ongoing process, and we are here to help and serve.

6. Monitoring the Plan for changes and progress

Our advisors conduct periodic portfolio reviews and maintain ongoing personal communications to keep you informed and involved. We also invite your input, encouraging you to keep us informed as any questions, concerns, or significant financial developments occur. Our representatives may recommend investment adjustments when your situation or objectives change or when an opportunity arises to help maximize investment performance.

For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you. | (813) 269-7100