TFP’s services are most appropriate for those who desire a long-term pro-active relationship with a financial planner that includes investment management. Services are broken down into an initial planning component followed by ongoing services for two reasons: first, TFP believes financial planning should come before investment planning and second, it allows both the client and TFP to decide if there is a good fit before committing to a long-term relationship. TFP does not offer hourly, as-needed follow-up to clients who self-implement their financial plan.
Step 1: Initial Inquiry
You review the introductory materials on our web site, then contact us. Over the telephone, we’ll provide a brief description of our services, philosophies, methodology, and fee structure. If our services appear to fit your needs, we’ll schedule an in-person “Get Acquainted Meeting.” You will download our Confidential Questionnaire (by clicking here), complete it, and e-mail or mail it to our office three days before the Get Acquainted Meeting.
Step 2: Get Acquainted Meeting
The Get Acquainted Meeting is an opportunity for us to exchange information about your needs and objectives and further discuss if our services are right for you. We will also provide an estimated fee quote. If you decide to engage our services, we will give you a list of additional information needed to begin formulating your financial plan and a $500 deposit will be due.
Step 3: Data Gathering and Initial Preparation
When we receive your information, we begin to review and develop your financial plan. We prepare initial reports and identify additional information needed. In most cases, this will entail providing more details relating to the information requested on our Confidential Questionnaire. Just as you have to disclose a great deal of information to your doctor, your lawyer, and your accountant in order for them to do their job well, we will need a great deal of information to make professional recommendations. In Step 3, you gather the data requested and mail, email, or upload this information to our secure client vault. You may send either copies or originals by mail. We will return them to you.
Step 4: Interactive Goal Setting and Data Verification
As we review and analyze your situation, we discuss and clarify the information you have provided thus far. To do this, we may contact you by e-mail or phone. You provide any additional information requested and further clarify your current situation, financial goals and objectives. You present any additional questions or concerns you may have. You then come in for a meeting to verify data and discuss initial findings.
Step 5: Analysis and Plan Formulation
We edit the initial information, as needed, and run additional scenarios, if applicable. We then conclude our research and analysis, and produce final reports for your personal financial plan, adding our observations and recommendations. As we move into Step 5, we will call or e-mail you to schedule a series of meetings for the presentation of your plan.
Step 6: Financial Plan Presentation
In Step 6, we present and review your personal financial plan with you over a meeting or series of meetings. We discuss all reports and provide you with a written summary of our observations and specific recommendations. At this point you will hold a personalized blueprint, custom designed to meet your financial goals. Full payment of the balance for actual fees incurred are due at the conclusion of our final plan presentation meeting.
Step 7: Plan Implementation
Proper implementation is crucial to reaching your financial goals. At the conclusion of our engagement, we will both decide whether it is best for you to implement and monitor the plan yourself, or contract with us to do this for you. If the latter course is taken, TFP will assist on an ongoing, flat-fee basis with all implementation, including investment restructuring and management, purchase and restructuring of insurance, tax and estate planning, and regular reviews of your financial matters.