Step One: Defining and Prioritizing. Sierra Pacific Financial Advisors listens to you. By exploring your short and long-term financial goals and values, your needs and concerns are better identified. The Confidential Client Questionnaire you complete prior to the initial meeting is reviewed in detail so that we thoroughly understand your unique circumstances. This first step is critical to the entire financial planning process, as it builds the foundation of our relationship between client and financial planner.
Step Two: Analyzing and Evaluating. After the initial meeting, your gathered data and information is reviewed. Additional information may be requested if necessary to develop the planning recommendations. At this stage, your strengths, weaknesses, and opportunities in your total financial situation are identified, with respect to the achievement of your stated objectives.
Step Three: Planning Development. Sophisticated financial planning tools are implemented on your behalf, to take an integrated approach to help you achieve your life goals. Unlike other firms, which offer a generic plan often designed by a third party unfamiliar with your situation, Sierra Pacific Financial Advisors conducts the planning analysis and develops your investment recommendations. A fee-only planning structure allows you to receive sound advice, without the influence of commissions from product sales.
Step Four: Presentation and Implementation. Your second meeting is to discuss your financial planning recommendations and to detail the concrete steps necessary to help you implement your plan. A financial plan, without implementation, will not position you to achieve your financial objectives. It is imperative to realize that the implementation promotes your desired results.
Step Five: Monitoring and Updating. Financial planning is a process, not a one-time event. Your planning recommendations should be reviewed periodically after implementation. In addition, your financial plan needs to be updated when your financial situation is affected by changes in your life, the economy, tax laws, or other influences. If significant changes occur, Sierra Pacific Financial Advisors will revisit the entire planning process to identify appropriate recommendations to meet your evolving goals and objectives