An important issue we address with our clients is the frequency of future meetings. While your various product providers continue to supply regular updates and reports, they cannot relate performance to personal goals; nor can they communicate the impact world events and regulatory changes could have on your plan. Your circumstances will change, and possibly some of your priorities. We need to review these changes frequently in order to measure the ongoing effectiveness of your plan.
Periodic Reviews: Questions and Checklist
A. Our review begins with a discussion about your goals.
- What are your financial concerns right now?
- Do you feel you are making progress toward your long-term goals?
- How does the dimension of time factor into our analysis?
- Are you comfortable with the level of risk in your plan?
B. Each ANNUAL review should include:
- Review of your annual investment statement.
- Custodian Statement
- Life Style Changes (State Below)
C. Check any items where changes have occurred? Please explain or provide paperwork
- Name change
- Marital status
- Annual income
- Business assets
- Business debt
- Business acquisitions
- Benefits: health, disability
- Retirement Plan
- Education funding
- Consumer loans
- Mortgages Emergency fund
- Long term care issues
- Life insurance in force
- Custodial agreements
- Wills and trusts
- Charitable giving
- Social Security
- Final Expenses
- New advisors—atty, CPA, etc.?
- Major purchases–property
D. How might any changes impact your complete financial situation?
E. What problems need solving?
F. Are we sure the goals and objectives of your plan are still appropriate?