Your needs and circumstances are not static and will inevitably change over time. Periodic reviews of a financial plan, once it has been implemented, ensure that the plan is adapted or modified if required in response to changing needs and circumstances. In general we follow the six steps of financial planning.
- Appointment Booked – file prepared
- Appointment Attended – goals and objectives, where are you now, complete fact find
- Prepare Plan – Back office work to formalise a plan (additional meeting if required)
- Appointment – Present SOA
- Implement SOA – Complete the plan, updating each party along the way
- Ongoing Reviews – Monitor, review, further discuss, etc.