Step 1 Data Collection:
Typically, the advisor will collect data from the client including asset and liabilities, tax returns, payroll data, biographical information on each family member, expenses, etc.
In some cases, a data survey (fact finder) is completed. The advisor may write up a short recap of the client’s situation, what issues they would like to address in the plan and if there are any special considerations.
Step 2-3 Access and Input Data/Audit existing plan:
The advisor may scan this data and upload to client Vault, email or utilize a cloud sharing system. Jacque then enters all the client data in to the financial planning software and communicates to the advisor a list of missing information or clarifications.
Step 4 Review Model with Advisor:
A short webinar with the advisor is scheduled to review the data and be sure it is complete prior to launching client webinars.
Step 5 Client Presentations:
Jacque presents the financial plan via webinars. These can be set up with the client(s) and advisors in various locations or the client(s) sitting with the advisor in his or her office.
Jacque reviews the client’s net-worth and cash flow in great detail and can make adjustments very quickly while the client is participating. If multiple scenarios are requested by either the client or the advisor, Jacque makes changes to assumptions at the meeting.
Each advisor has a unique style but most advisors like to review the results of the planning scenario with the client in order to determine appropriate action steps for each client.
In some cases, the client may wish to revisit the scenarios and adjust data at a future point. In other instances, the advisor may request the formal plan from Jacque after the client webinar.
Jacque is very flexible and can meet the needs of each advisor’s practice.
Step 6 Deliver Completed Financial Plan:
Once the advisor alerts Jacque that the client’s plan is acceptable, the plan and optional summary are delivered to the advisor. Delivery is generally in whatever method data gathering information was exchanged.
The advisor is then able to print the financial plan in his/her own office, add custom documents if the advisor chooses, bind and deliver to the client.
Billing:
Jacque’s top billable rate is at $150 per hour, he tracks time in a detailed time manner and prepares a monthly invoice to each advisor. Payment is expected upon receipt (within 30 days).