The Summit Process
A comprehensive planning process is crucial in creating a financial plan that considers your needs now, and that plans for the future, in the most tax efficient manner possible. It is our goal to assist you in building a strong financial structure that will stand the test of time and grow with you and your family.
Our first meeting is really a “get to know” meeting. We’ll discuss your goals, and make sure we understand what you’re looking for. Do not feel obligated, but it would be helpful if you brought some, or all of the following information to the first meeting:
-A brief summary of your assets (just a rough balance in bank accounts, as well as your last statement for all investment accounts)
-A brief summary of your debts (it would be helpful if we had the balance, payment, and interest rate).
-Any estate planning documents, including wills and trusts.
-Last year’s tax return.
-Your declaration page for your Auto and Homeowners insurance. We don’t sell auto and homeowners insurance, but we give a lot of advice on it.
Between the first and second meeting, we’ll prepare a complete financial plan for you that contains recommendations. During the second meeting, we’ll discuss the recommendations, and answer any initial questions that you have.
During the third appointment, we typically just answer questions about the financial plan. If you would like to become a client, we can get the ball rolling if you would like, or schedule additional meetings to discuss more details. We are always on your time table, and do not want you to feel pressured.
We want our clients to be comfortable, so please remember that you can use some of our recommendations, none of our recommendations, or all of our recommendations. You are the boss, and we’ll help you create a detailed plan for the future based upon your preferences.
We realize that our job is never done with our clients. Once a financial plan has been implemented it must be reviewed on an ongoing basis to ensure there are no gaps. One of the most important documents we have our clients fill out is the Client Service Survey. This allows them to select how often they would like to be seen for review meetings as well as other correspondence such as email updates, phone calls, etc. We also email our clients a market commentary that we write ourselves. This is another great way to keep the lines of communication open. We realize that your circumstances will change, and possibly some of your priorities. We need to review these changes in order to measure the ongoing effectiveness of your plan.
A review typically begins with an update of your investment portfolio
A. We also want to know:
- 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 tax return
- Balance sheet
- Cash flow
C. We would appreciate it if you would give us an update if you have any of the following occurrences:
Benefits: health, disability
Long term care issues
Life insurance in force
Wills and trusts
New advisors – Attorney, CPA, etc.
We are located at:
43409 Schoenherr Road
Sterling Heights, MI 48313
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Investment advisory services are offered through Summit Financial Consulting, LLC, a MI registered investment advisor. Insurance products and services are offered through Summit Financial Consulting, LLC. Summit Financial Consulting, LLC and its representatives do not render tax, legal, or accounting advice. Summit Financial Consulting, LLC is not affiliated with or endorsed by the Social Security Administration or any government agency.