AJ Feldman Financial is not in the business of predicting the future. No one knows what the world or the markets will look like 20 years from now. For example, 20 years ago could you have imagined having a phone in your pocket that was more than 1000 times more powerful than your current computer? We do not expect our clients to know what the future brings either. We know that assumptions you make today about retirement dates, lifestyle choices and spending habits will change. Many financial plans may rely on these “precise” assumptions, this can lead to a false sense of confidence in a financial plan.
At AJ Feldman Financial we are planners. We understand that your financial life is fluid and has to adjust as the terrain changes. Just as a sailor can meticulously map out his route before a trip, he will need to adjust the plan during the voyage. We too help our clients maintain their course as the financial terrain changes.
Whether your goal is to write the next great American novel, open your own restaurant, or retire on a tropical island, we can help guide you on a map to your financial goals.
Our process follows the CFP® Boards six step financial planning process:
1. Establishing and defining the client-planner relationship.
We explain the services we provide to you and define both our and your responsibilities. We identify what the fees are and what services are included.
2. Gathering client data, including goals.
We gather your financial information to put together an overview of your current financial situation. We help you to define your goals, understand your time frame for results and discuss how you feel about risk.
3. Analyzing and evaluating your financial status.
We analyze your information to assess your current situation and determine what you must do to meet your goals. This can include analyzing your assets, liabilities, cash flow, current insurance coverage, investments and tax strategies.
4. Developing and presenting financial planning recommendations and/or alternatives.
We offer recommendations based on the information you provide that address your goals. We review the recommendations with you to help you understand them so you can make informed decisions. We also listen to your concerns and revise the recommendations as appropriate.
5. Implementing the financial planning recommendations.
We then agree on how the recommendations will be carried out. We may carry out the recommendations or serve as your “coach,” coordinating the whole process with you and other professionals such as attorneys or tax professionals.
6. Monitoring the financial planning recommendations.
Both AJ Feldman Financial and the client have the responsibility to monitor the progress towards the client’s goals. It is the client’s responsibility to let us know when there are material changes to your financial circumstances. It is our responsibility to monitor the recommendations.