The team at Carr Financial follow a refined process to clarify, design, and ultimately help our clients achieve their goals.
Start With a Consultation
At your initial meeting, we will provide an overview of our professional services and financial planning process, along with each advisors background. Following industry standards, any conflicts of interest and our compensation model will be shared with you at this time. We will explain how we are true fiduciaries, working for you with your best interest first and foremost. This meeting is also where our advisors will learn more about you, your current financial situation and your goals for success as you define it.
Collecting Information and Defining Goals
Once a partnership is established and a scope of engagement has been agreed upon, your advisor will thoroughly analyze any or all aspects of your current financial situation, finding the strengths and vulnerabilities in all areas. We seek qualitative and quantitative data, asking the questions necessary to determine what your financial and life goals are, and which are most important to you. Every client defines success in their own way, and it is our mission to bring clarity and reality to that success.
Develop and Review your Personal Financial Plan
Having a clear picture of where you are today and what your most valued goals are allows our team of experts to develop a personalized financial plan to get you there. We will provide a picture of your current plan and how it relates to your stated goals. We then provide options, if necessary, to change course in order to meet your goals. This is where we collaborate with your feedback on potential strategies to get you from where you are today, to where you wish to be.
Once a strategy is agreed upon, the hard work starts. After sharing the basis for each recommendation any additional conflicts of interest, and the plan to manage such conflicts would be disclosed. You and your advisor will use the recommended plan, determine a time frame for each step and delegate implementation responsibilities between you, your advisor and other professionals. This is the point in the planning process where specific products, services and actions are implemented.
Revisit Your Goals and Your Plan Regularly
At the time of implementation, an expectation for review of the financial plan will be established. Just as with the first consultation, we will review your situation as it stands and what it means for your stated goals. Life and goal changes are almost guaranteed, as are changes in tax laws and the possible effects of inflation and stock market fluctuations. All of these variables can present opportunities and challenges in your plan as goals and targets of success shift. Your advisor will be there to guide you through any of these changes.
How We Can Help
At Carr Financial Group, we conduct industry best practices in understanding your situation and helping you work towards your goals. Our firm provides exemplary services across all aspects of financial planning, including:
- Cash flow projections and retirement income planning
- Income tax strategies and coordination with tax professionals
- Aggregation and evaluation of all assets
(clients have access to interactive wealth management technology)
- Social Security and pension strategies
- Estate and legacy planning
- Risk management and insurance planning
- Continual monitoring of, and adjustments to, financial plan based upon life and economic changes
- Customized investment strategy based on family goals
- Reviews of account performance with appropriate allocation changes and rebalancing (Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss)
- Access to institutional mutual funds, low-cost ETFs, individual securities, and alternative investments
- Ongoing portfolio manager evaluations
- Management of investment tax liability and year-end tax harvesting
- Portfolio gifting, charitable contribution, and IRA distribution strategies