Grow Your Wealth

 

Financial planning is a dynamic process that changes throughout your lifetime.  Navigator Financial provides financial advice and guidance through this process. At the onset of our client relationships we develop a personal and comprehensive plan that becomes our “map” to show where we have been and where we are going. We also identify some interesting potential landmarks along the way. The information that follows is useful in all stages of wealth management: accumulation, conservation and distribution.

Start with the End in Mind

We start with the end in mind. What are your long term financial goals and objectives? What are your dreams and desires for your future? In our planning, we help you to articulate a vision for your future, the strategic steps to realize that vision and your personal “roadmap”. Once a plan is established, we review it with you periodically to ensure we are still on the right path.

Reviewing your Current Planning 

In this stage of our process, we want to thoroughly review your current financial position.  What’s working and what isn’t?  Sometimes a person’s plan needs a major overhaul but at other times, small and timely changes can make a big difference in the long run.

Addressing the Gap

Every client situation is unique, and we realize that there is no one-size-fits-all solution.  Our disciplined process is used to determine what strategies will best suit your financial concerns, goals and objectives as you grow your wealth.  With that information we create a personal and comprehensive plan, implement it and provide regular reviews of your holdings.

6 Steps to Financial Planning

1. Establish the client-planner engagement

Your planner should:

Explain issues and concepts related to the overall financial planning process appropriate to you.

Explain the services they will provide, the process of planning and documentation.

Clarify your responsibilities as a client.

Clarify their responsibilities as your planner. This should include a discussion about how and by whom they will be compensated.

You and your planner should:

Discuss the scope of the client/planner engagement.

Agree on how decisions will be made.

2. Gather client data

  • goals and expectations

Your planner should:

Obtain information about your financial resources and obligations through interviews or questionnaires.

Gather all the necessary documents before giving you the advice you need.

You and your planner should:

Mutually define your personal and financial goals, needs and priorities.

Investigate your values, preferences, financial outlook and desired results as they pertain to your financial goals, needs and priorities.

3. Clarify current financial status

  • identify problems/roadblocks
  • identify opportunities

Your planner should:

Analyze your information to assess your current situation (cash flow, net worth, tax projections, etc.). Identify any problem areas or opportunities with respect to your:

  • Capital needs
  • Risk management needs and coverage
  • Investments
  • Taxation
  • Retirement planning
  • Employee benefits
  • Estate planning
  • Special needs (i.e. adult dependent needs, education needs, etc.)

4. Develop and present the financial plan

Your planner should:

Develop and prepare a financial plan tailored to meet your goals and objectives, values, temperament and risk tolerance, while providing projections and recommendations.

Present the plan to you and establish an appropriate review cycle.

You and your planner should:

Work together to ensure that the plan meets your goals and objectives.

5. Implement your financial plan

Your planner should:

Assist you in implementing the recommendations discussed if you want. This may involve coordinating contacts with other professionals such as investment funds sales representatives, accountants, insurance agents and lawyers.

6. Monitor plan & client reporting

You and your planner should:

Agree on who will monitor and evaluate whether your plan is helping you progress toward your goals.

If your planner is in charge of the process, your planner should:

Contact you to review the progress of the plan periodically and make adjustments to the recommendations required to help you progress toward your goals; this review should include:

A discussion about changes in your personal circumstances and how they might affect your goals.

A review and evaluation of the impact of changing tax laws and economic circumstances.

A review of your life circumstances and an adjustment of the recommendations if needed as those circumstances change through life events such as birth, illness, marriage, retirement, etc.

Value of Financial Planning

Tax Planning

During the financial planning process, we strive to reduce your taxes, to increase your current and future cash flows and, if needed, we will work with your accountant to co-ordinate your overall tax strategy.

Experienced, Professional Advisors

Our advisors are professionally qualified with an average of over 20 years of experience in the financial services industry. We take a long-term view to financial planning and building strong client relationships.

Independent Advice

Navigator Financial is an independent financial services firm. We are not associated with any single bank, life insurance or investment firm.  Our independence allows our advisors the freedom to compare available alternatives in the marketplace and recommend what we believe is the best financial plan for your unique circumstances.