This blog is tied to our earlier one here on the onboarding process. While the first blog explains the meeting and onboarding process, this one focuses on the financial planning steps. Polaris's planning process uses a 5 step- flywheel process, this is a continuous process that gains momentum and propels us towards the goals.
Step 1: Discuss and understand client's financial goals. This is the phase where the client would share things like their retirement age or college planning for kids or simply that they have excess capital and need help to deploy it for best possible returns. This step can be viewed as the data-sharing phase.
Step 2: This can be viewed as the data analysis phase, looking at the numbers and assessing the reality of the client's situation. We end this step by understanding the gap to goals.
Step 3: Considering information from steps 1 and 2, we add the client's risk profile and other factors such as timelines, age, dependents etc. to generate and evaluation options.
Step 4: We create financial plans and discuss with the client on the next steps.
Step 5: Once we have discussed the plan with the client and there is agreement to move forward, we implement the plan and regularly monitor the plan to ensure we are staying on track.
As we go, things can change and life happens, we will course correct as appropriate. Our goal is to stay with you through this journey.