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7 STEPS TO FINANCIAL SUCCESS
Our 7 Steps to Financial Success is a win-win approach to financial planning for clients and advisors. It spells out step by step simple-to-understand-and-implement approach to building a brighter financial future.
STEP 1 Initial Inquiry/Community Outreach
Our Responsibilities: Townsend Financial Planning will provide a brief description of our services, philosophies, methodology, and fee structure. We will mail you an introductory packet to help you learn more.
Your Responsibilities: If our services fit your needs, we will schedule a Free Get Acquainted Meeting in person or on the telephone, and at the same time provide you with additional information to help you learn more.
STEP 2 FREE Get Acquainted Meeting/Teleconference
Our Responsibilities: Townsend Financial will meet with you free of charge in person or via teleconference. It’s an opportunity to exchange information about your needs and objectives, to further discuss which of our services are right for you, and to provide you an estimate of the cost of our services. Remember, we do not accept commissions, and instead charge for our services on an hourly (or portions of), as-needed basis.
Your Responsibilities: If you choose to use our services, we will provide a list of additional information that we will need to begin formulating your personal financial plan.
STEP 3 Data Gathering and Initial Preparation
Our Responsibilities: After receiving your information, we will begin to review and develop your custom financial plan. We will prepare initial reports that will be discussed with you at your next meeting.
Your Responsibilities: You will need to gather the requested data and then possibly complete a risk tolerance questionnaire provided. This information will need to be provided to us before your next meeting.
STEP 4 Interactive Goal Setting
Our Responsibilities: Depending on your individual circumstances, this meeting may or may not be necessary. If it is, it can be in person or via teleconference. We will work with you to further discuss and clarify the information you have provided thus far, and to refine your financial goals and objectives.
Your Responsibilities: This is another opportunity for you to clarify your current situation, financial goals and objectives, and to discuss with your advisor any additional questions and concerns.
STEP 5 Analysis and Plan Formulation
Our Responsibilities: Townsend Financial will refine the information you have provided and study various plan scenarios. We will provide analysis and research based on our findings and produce the final reports that include observations, assumptions, specific recommendations, and an action plan for your unique situation.
Your Responsibilities: The ball is in our court. All you have to do at this point is await your next meeting with us.
STEP 6 Presentation of Your Financial Plan
Our Responsibilities: We will meet to review your personal financial plan and our specific recommendations.
Your Responsibilities: Congratulations! You now hold your personal blueprint for financial success designed with your financial goals in mind. You are empowered with specific recommendations to implement your financial plan. If you wish, you may employ Townsend Financial Planning to further assist you in carrying out that plan.
STEP 7 Financial Checkups
Our Responsibilities: Periodic update meetings and reviews are essential to maintain good fiscal health. Townsend Financial can schedule these periodic meetings with you at whatever frequency you think appropriate.
Your Responsibilities: Financial planning is an ongoing process, not a one-time event. Proper implementation of a financial plan and periodic professional reviews are crucial to reaching your financial goals. We urge prompt attention. It’s about your financial future.
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