The first important step in the financial planning process is to understand an individual’s current financial situation, needs and future goals. We ask prospective clients to complete a brief Confidential Questionnaire outlining their current assets and liabilities, cash flow, as well as their expectations from a financial planning relationship. We review the information in the Confidential Questionnaire and schedule a one hour complimentary meeting with the prospective client.
Depending on each client's individual needs, an initial comprehensive review typically addresses the following considerations:
- How to have money left at the end of the month
- How to eliminate or reduce debt
- How to pay for college costs
- Which retirement options are right for you
- How to reduce or defer taxes
- How to lower risk
- How to keep more of your estate for your heirs
The financial planning process involves several steps that address the complex nature of financial affairs.
Data Gathering Session (1-2 hours)
- Discuss your goals and objectives
- Determine if we can work together
- Checklist for missing data
Plan Writing (2-3 weeks)
- Analysis, research and report preparation
- Gather missing data and ask questions
Plan Presentation (1-2 hours)
- Discuss plan and answer questions
- Discuss options, make adjustments according to your goals and objectives
- Make recommendations
- Assist in accomplishing your goals and objectives
- Update on goals and objectives
- Unlimited access for a year
Investment Advisory Services
RD Financial provides non-discretionary investment advisory services to clients. Our investment advisory services include an assessment of your current investment portfolio and recommendations for changes based on the individual risk profile and goals of each client.
When designing an investment strategy, we consider each client's attitudes toward risk, lifestyle needs, financial goals, proximity to retirement, and general concerns in determining an appropriate asset allocation. We believe that diversification spreads risk, that risk and return are related, and that asset allocation decisions are the primary determinant of a portfolio's risk and expected return.
Using asset allocation modeling software, we determine if the risk/reward is reasonable and in line with client’s goals and objectives. After we have mutually determined the most appropriate strategy, RD Financial takes the lead for our clients in the implementation and monitoring of the customized investment strategy.
Unlike many investment product-sales-based relationships, RD Financial’s investment advisory fees are charged as a percentage of assets under management rather than an upfront or back loaded commission. We believe this fee based approach confirms our interests are 100% aligned with our client's investment goals and objectives.