Financial Planning Process

We believe in the approach to wealth management and financial planning as espoused by The Financial Planning Association.  This process has six main elements:
 

  1. Establishing and defining our relationship with each other.  Our initial consultation is normally performed at no cost to you other than the “investment” of time needed to provide us the information we need to get to know you properly.  During this meeting we will clearly explain how we are compensated for the work we accomplish for you.
     
  2. Gathering data and information from you.  This includes knowing your goals and needs along with all the information necessary to develop a clear understanding of your unique situation.  We will spend time together to know your priorities, preferences and values.  We will begin the ongoing education process to ensure you are comfortable with our work and the direction we will travel together. 
     
  3. Analyzing and evaluating your current financial situation.
     
  4. Developing and presenting recommendations and possible alternatives with the aim of helping you achieve your goals. This step will incorporate your objectives, time horizon, and tolerance to volatility in the value of your investments.   We may have several meetings during this part of our ongoing process to cover the myriad of topics necessary for proper financial planning.  This also includes working with your attorney, accountant and casualty insurance agent to ensure those parts of your financial life are correctly aligned. 
     
  5. Implementing the accepted recommendations.  During this step you will help us take the actions necessary to put the plan in place to move toward achievement of your goals.
     
  6. Continuing monitoring of your situation and our recommendations to keep on track. By communicating with you on a regular basis to assess progress toward your goals we can ensure that your needs and expectations are being met.  Adjustments will be made as necessary to address changes brought on by life.

In addition, as a CFP® professional, Vars subscribes to the CFP® Code of Ethics which encompasses the following 6 attributes:

       1. Act with honesty, integrity, competence and diligence.

       2. Act in the client's best interest.

       3. Exercise due care.

       4. Avoid or disclose and manage conflicts of interet.

       5. Maintain the confidentilality and protect the privacy of client information.

       6.  Act in a manner that reflects positively on the financial planning profession and the CFP®         certification.

Source: https://www.cfp.net/docs/default-source/for-cfp-pros---professional-standards-enforcement/CFP-Board-Code-and-Standards

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