Financial Planning as a Process Financial planning should be a process rather than a destination, and Cabot offers to help clients identify and plan for their goals. Your financial plan is never really complete because of the changes that occur over time in your own personal goals, in tax laws and in the performance of your various assets. We rely on constant communication with you as well as continual analysis rather than simply providing you with a large three-ring binder containing a “financial plan.” The first step in the financial planning process is the information-gathering stage. We ask clients to complete our Confidential Information Summary (CIS), which serves as a preliminary introduction to the client. After receiving this information, a financial counselor will arrange a face-to-face meeting with the client so we can go into greater detail about the client’s individual situation in order to fully understand and define personal goals and objectives, an investment time horizon, and risk tolerance. Upon formalizing the relationship, we may develop customized analyses and recommendations, using financial planning software that is built on a client-centered approach, which we incorporate into a detailed, written plan. In the preparation of the plan, we look at the scope of the client’s financial picture during which time we review and communicate clear recommendations to improve his or her situation. 
Once the plan is complete, we review these recommendations with the client directly. Upon client approval, we handle the implementation of our recommendations. Our team of professionals oversees the client’s investment assets on a regular basis to ensure the overall portfolio remains consistent with the client’s plan. Constant communication and personal attention is a core part of our service; we highly recommend face-to-face meetings at least once a year in order to review any changes in the client’s circumstances and to monitor and adjust the plan accordingly. In addition, our financial counselors and other key members of our professional team keep in contact with clients through phone and e-mail communications and encourage clients to reach out to them whenever they have a question or a change in their situation arises. |
