Plan Well
Will I Be OK? Our Look Forward Process Will Help Answer Your Important Questions
Our planning process will help answer those important financial questions, what does retirement look like, will I have a comfortable retirement, can I take that dream vacation or vacations, give money to kids or grandkids, or simply live the financial life you imagine.
Will I be able to retire?
Will I have a comfortable retirement?
Will my family be ok?
What happens if I..........?
Can I give money to kids, grandkids, or charity without hurting my future?
And all of your other important questions.
With our planning process, you will see how all of your resources and desires fit together.
Having A Great Portfolio Is Just One Part Of Financial Success
At Knox Financial Services, we help clients plan for their future and manage their assets. Having a great portfolio is just one part of financial success. Using your assets efficiently is also very important. We believe we get the best outcomes for our clients by combining a financial plan, or roadmap for your future, with our asset management process. You may choose to use our planning services, asset management services, or both.
We Learn About You
The first step is for us to learn about your current situation, your goals, values, and resources, or a total view of you and your situation. We get to know you well.
We also describe our planning process.
If we agree we are a good fit to work together, we may continue the process.
A Complete View Of Your Situation
The core of our process is your personal balance sheet, or summary of your available resources, so you have an accurate picture of where you are now.
With your Personal Financial Website, your financial picture may be automatically updated.
Your balance sheet is a complete summary of your financial situation, easily viewed and updated.
We take the time to understand where you are now, so we can help get you where you wish to be.
Your Custom Strategy
We hope you are well positioned. If steps are needed, we present the most efficient ways to help you reach your desired goals. We also cover the many “What if” scenarios, like retiring early, if you become disabled, sell a business, or simply, “Will I Be Ok? Our process helps define any potential roadblocks to success and solutions to handle them.
This is a very detailed presentation of our strategy for your unique situation. If we agree on the strategies, we then provide a detailed report of your financial plan.
Put It Together
If our strategy and process makes sense for you, and adjustments are needed, you may take the next steps and have our team put your plan it place for you.
Our team takes care of every step, down to every last detail.
Follow-Up
After your strategy is implemented, we get together to review your new direction, to make sure you are comfortable with the process and review any questions you may have.
If you wish, we may continue to work together on an ongoing basis, with systematic reviews of your progress and be available for ongoing consultation. See below for more details of our ongoing services.
Life is a Journey. Our process will help you stay on track.
Our Value
We believe anything worth doing is worth doing well and should add value to your situation. With our planning process, the services provided include:
- Our initial meeting to understand your situation, resources, goals and values
- Developing your goals
- Developing your personal balance sheet
- Developing strategies to match your unique goals
- Meeting to present your unique strategies
- Evaluation of any contingencies that may change your path
- Refinement of your unique strategy
- A report of your balance, strategies, and planning scenarios
- Access to Your Personal Financial Website for 24 months
Our Look Forward! Planning Service covers all of the steps the planning process. Our advisors have a standard fee schedule for services, which may be adjusted depending on the total work involved. Regardless, before we begin any work, you and your advisor must agree on the services provided and the cost involved.
Relax
We believe the best part of our planning process is that it will allow you to have confidence in your future.
Our Look Forward! process will help you:
Plan Well.
Invest Efficiently.
Relax.
Ongoing Consultation
Our Look Forward! Planning Service is also available on an ongoing basis.
If you wish to work together on an ongoing basis, our services include:
- Annual or Semi-annual review meetings to review your progress
- Evaluation of contingencies that may change your path
- Consultations with your Financial Advisor
- Optional Weekly updates from your Personal Financial Website
- Access to Your Personal Financial Website on an ongoing basis
Our Look Forward! Planning Service covers all of the steps the planning process.
For our ongoing Consultative Services, our fees are dependent on the scope of work and services provided. Our Advisors have a standard fee schedule for ongoing planning services, which may be adjusted depending on the total work and services agreed upon. Ongoing Financial Planning Consultative Services may be paid via a monthly automatic bank draft or credit card payment, or annually via check or one time bank draft. Regardless, before we begin any work, you and your advisor must agree on the services provided and the cost involved.
Life is a Journey. Our ongoing Look Forward! services will help you stay on track.
Comprehensive Plan
The complete financial plan, encompassing all of our core financial planning services.
Investment planning, estate planning, retirement planning, insurance and risk management, cash flow, family assistance, and income tax are all covered in this interactive plan.
A complete picture of your financial situation and highly probable paths to get you where you want to go.
Balance Sheet
The core of all of our planning process is your personal balance sheet, or summary of your available resources, so you have an accurate picture of where you are now. This is a complete view of your investments, properties, known incomes, liabilities, and risk management tools.
With your Personal Financial Website, your financial picture may be automatically updated.
We take the time to understand where you are now, so we may help get you where you wish to be.
Income Plan
We provide a cash flow plan for you and your family, which provides detailed analyses of income and expenses. Such a plan can help determine your ability to maintain your current lifestyle in retirement, accommodate large expenses or unexpected events, such as medical or long-term care expenses, evaluate wealth transfer strategies and your gifting capacity, and plan for survivorship income and expenses.
Estate Plan
We develop estate planning strategies that reflect your objectives and values.
A comprehensive estate plan may also help enhance confidentiality and potentially minimize taxes.
Tax Planning
Often, when you file your income taxes, you may only look at the past year and how your finances were impacted.
We take a proactive approach with tax planning to help you better understand what your tax situation may look like in the future and how the decisions you make today may impact your your future wealth.
Risk Management
Risk Management is more than owning insurance.
During the risk management process, we help analyze and assess your exposure to major risks. We first help you Identify and prioritize your key risks. Then, we help you establish your comfort level with each risk. We then show you ways to mitigate your risks, if possible.
If there is need to mitigate risk, advice is then provided on the costs and benefits of available financial products that seek to reduce risks.
Cash Flow
With the often intense focus on accumulating assets, cash flow sometimes fails to get the attention it requires. Even the wealthiest investors may experience mismatches between their available liquidity and their income requirements.
In this process, we may examine income sources, expenses, debt management, one-time expenses, planned large expenses, emergency funds, mortage reviews and lines of credit. With a complete picture, plans may be developed to achieve your cash flow goals.
Education Planning
Saving for a family member's education may be a goal.
For those seeking to help a family member continue their education, we analyze your available resources, provide education on the types of accounts and programs available, and determine a strategy to help meet your education goals.
We also offer financial education services for your family, like a child's first portfolio, financial education series, and personal financial website for your family.