Comprehensive in approach,
client-FIRST in nature!
Financial Planning
The Firm's utilizes a simple, six-step planning protocol:
Establish and Define Relationship
Determine the client’s needs, goals and objectives
Analyze and evaluate the client’s current financial structure/status
Develop and present financial planning recommendations
Implement financial planning recommendations
Monitor and modify plan (As life and financial dynamics change, so will the overall plan!)
Benefits of Utilizing a Formal Financial Planning Process Include:
Client First approach
Process oriented, NOT product driven
Risk Management
Identification of potential risks
Implementation of strategies to eliminate or neutralize the risks
Higher probability of success in reaching financial goals
Maximization of your control
Confidence in achieving your financial goals
The Comprehensive Suite of Services Include:
Statement of Current Financial Condition
Establishment of current and future financial goals with an assessment of overall current financial condition.
Current Balance Sheet and Cash Flow Analysis
Review/analysis of all current sources of income and liabilities; assessment of positive/negative cash flow; surplus deployment strategies
Investment Review of Current Investment Accounts
Analysis of overall asset allocation as well as analysis of individual investment holdings; review of investment account structure, efficiencies and effectiveness; Investment advice on: Equities, Fixed Income Instruments, Mutual Funds, Exchange-traded and Index Funds, REITS, Unit Investment Trusts.
Investment Advisory Services
Investment Advisory Services provided with accounts managed in-line with the development of goals and objectives based upon interviews/discussions/consultations with client to determine time horizon, risk tolerance, income needs, liquidity requirements, client’s previous investment experience, etc.; Goals and objectives are developed based upon this information and an Investment Policy Statement is drafted and adopted for each account; this “IPS” is reviewed annually for any change in circumstance; Continuous investment management involves the review of each account quarterly or more often depending upon the type of account, rebalancing needs, market conditions, changes in client’s time horizon, risk tolerance, income needs, etc. If Client desires Investment Advisory Services, Client shall sign the separate Investment Advisory Services Agreement with the Firm.
Retirement Income Planning
Consideration and analysis of all sources of income during retirement (aka “buckets”); guidance on proper retirement income needs funding; Social Security review/counsel.
Stock Options Analysis (if applicable)
Incorporation of options planning into overall financial goals and strategies.
Educational Planning
A review of educational funding resources and appropriate tools necessary to achieve and fund those financial needs.
Business Succession Planning
including business valuation provided by Principal National Life.
Post-Divorce Planning
Financial restructuring and guidance in coordination with divorce settlement decree/agreement.
Risk Management Analysis
portfolio analysis of any life/disability/long-term care policies current in place or a review of needed risk management strategies.
Estate Planning Review
Courtesy review of current estate plan and coordination of any desired/needed changes by the Client with legal counsel of said Client.
“Stress Testing” of Asset Base
Analysis of the consequences of a disability, pre-mature death or longevity risk.
Recommendations and Implementation Guidance
Coordination of the implementation with the Client of all Recommendations as agreed upon by both parties.
The CFP®* Advantage
Unfortunately, anyone can label him or herself as a “financial planner.” CFP® certification demonstrates a deep knowledge and commitment to personal financial planning. More and more consumers seeking financial planning help are looking for planners of an exceptional quality who adhere to the highest standard.
As a CERTIFIED FINANCIAL PLANNER™ professionals, our firm’s planners:
Follow strict protocols dictated by the CFP® Board of Standards, Inc.
Completes ongoing continuing education requirements
This allows our planners to maintain their knowledge base and keep abreast of cutting edge planning techniques, potentially impactful legislation being considered by Congress and new software tools that provide clients with a clear cut understanding of their current and future financial structure.
Note: Under CFP© Board of Standards, Inc. protocol, the technical classification for TKM Financial Services compensation is “Fee-Based and Sales-Related Compensation.”
*Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.