Life Planning
It’s All About The Big Picture
Effective planning ensures that assets are used in the most efficient manner and your assets are considered as a whole, rather than as a collection of individual strategies potentially in conflict. True wealth is more than just money.
Life’s Financial Marathon
Financial planning is a dynamic process that changes throughout your lifetime.
Learn MoreThe Wealth Navigation Process
We have developed our unique Wealth Navigation Process to focus on overall life planning rather than addressing Isolated financial issues. To ensure this is done properly, we use a series of structured meetings. The Wealth Navigation Process is the basis for the solid relationship we seek to build with each and every client. It is consultative in nature. We take the necessary time to listen and understand.
Is This A Good Fit For Us Both?
Our first meeting is designed to be an overview for both the client and the planner. In this meeting we will discover if there is a comfortable fit for a viable long-term relationship.
You will learn more about the steps and strategies we use to help you understand your current financial position and the process for making changes that can help change your situation in the future.
You will discover the financial propositions that make TRP Retirement Planning unique.
The first visit is no-cost, no-obligation on either party.
This meeting should last 1 – 1 ½ hours
Data Gathering & Discovery Process
The second step is to review your financial information, documents and objectives to ensure we understand your current situation as well as your goals for the future.
During this process you will begin to gain a better understanding of where you spend money and how making small changes to your spending habits can make significant improvements to your future.
This meeting should last 1½ – 2 hours
Understand Today
In this step we present to you a draft of your CURRENT financial position. This will help illustrate the direction in which you are currently travelling and how close you will come to achieving your goals and objectives.
This will outline your current net worth, cash flow, estate details, etc. in a clear concise manner. This will provide both client and planner with a better understanding of what, if any, changes are needed in your financial dealings to ensure your goals and objectives are met in the future. At this point we can begin to agree upon the direction we need to go to create specific recommendations and an action plan.
This meeting should last 1 – 1 ½ hours
Asset Review
In this phase of the financial planning process we will begin to restructure any assets that require changes. This could involve a variety of different situations from debt restructuring to modelling your investment portfolio into a proper allocation for your needs.
We will look at a variety of options and do an in-depth comparison of your current asset holdings with the marketplace. We will also provide you with an in-depth Investment Analysis and Policy Statement (IAPS) showing you all potential costs and charges for both your current assets as well as recommended changes.
This meeting should last 1 – 1 ½ hours
Risk Management Review
We will begin our discussion with a review of what is Estate Planning. The primary objective of this meeting is to begin to understand how you want your assets structured upon your passing. We will discuss such items as Wills, Powers of Attorney, Legacy Planning and Long Term Care.
We will review your insurance needs to ensure they are addressed effectively and in a manner consistent with your goals and objectives.
This meeting should last 1 – 1 ½ hours
Estate Planning
In this meeting we will begin the process of aligning your assets with the wishes you expressed in the previous meeting.
We will look at a variety of issues and make recommendations with respect to covering all your areas of risk from an estate perspective.
This meeting should last 1 – 1 ½ hours
Implementation & Action Plan
This step ties everything together and includes an action plan to follow for the next three years and beyond. This is the step where we update the financial plan with the changes we have made and show the improvements in your personal situation from these changes.
We complete a Service Agreement that clearly articulates our plan to monitor and review your progress and what the responsibilities are for both the client and the planner.
We will ask you to complete an evaluation of our process that gives us feedback on areas we need to improve upon in the future.
This meeting should last 1 ½ – 2 hours
