Our Farrall Wealth Process

What is true Wealth Management?

We often are asked this question. Wealth Management is about more than preparing for retirement. It is about working towards achieving short- and long-term goals and helping protect the most important things in life.

Many financial advisors can help consult on your investment choices, but true wealth managers enhance the experience by not only managing your monies in the pursuit for optimum return while managing risk but also help you to advance plan and manage your relationships.

A strong plan is developed in collaboration with a financial planner and a team of professionals that includes a balance of products that is flexible enough to address changing needs across a client’s personal and professional life.

The first step to achieving a strong financial plan is creating an effective strategy that:

Prepare for a confident, comfortable retirement

• Minimize current taxes
• Pro-actively manage and control debt
• Help prepare for a child’s college education
• Provide loved ones or heirs in the event of death, disability or critical illness
• Protect businesses and their employees

A strong planning process is the best way to create a strong, flexible financial plan.

A transparent, effective planning process is based on two key aspects of financial planning: risk management and access to funds when needed. A plan must ensure liquidity, to allow its owner to access funds when needed. It must also take into account key stages of life. This can include preparing for events such as retirement, death, and in the event of disability and/or critical illness.

With these goals in mind, the first step in building a comprehensive plan is to assess total financial planning needs. This involves a consideration of important milestones such as retirement, insurance, major purchases and educational costs, as well as ongoing financial management strategies. Once these factors are identified, the client is prepared to choose the products and services that best address his or her needs.

This goal-based financial planning approach is designed to help:

• Define customized short- and long-term goals that ensure only the appropriate financial products and services are chosen
• Identify roadblocks or gaps that might impact the financial planning strategy
• Continually monitor the plan to ensure it addresses changing needs and circumstances

Contact us today to find out more about my financial planning process and learn how a sound financial plan can help you pursue your goals.