1-520-327-1019 info@wellspringfp.com

Building Your Plan

Financial Planning ProcessWhile many used to believe the best investments are the path to investment success, it is now widely accepted that while you need solid investments, a comprehensive and regularly monitored plan is more important.

Wellspring Financial Partners has a financial plan development process that has proven itself over thousands of cases. We use multiple models from the industry’s top providers, coupled with our own unique algorithms, to blend complex data into an understandable format.

All our plans are holistic, as planning or managing only one aspect of your financial life leaves the rest in question, and may be disconnected and conflicting with other plans. A comprehensive, integrated plan ensures all aspects of your financial world are connected and “on the same page”.

Listening

Our relationship starts with listening to your challenges, your plans, and your dreams. It is only through deep listening and dialog that we can understand what’s important to you and what you’re trying to achieve.

Stages of life — one size does not fit all

Many financial planning firms use one of a handful of financial planning software packages. They seek to fit each client into that model. Yet the financial issues of a retired individual are very different from those of a ‘millennial’, building wealth with children and a large array of financial moving parts. Wellspring uses different models for different client needs, and always seeks to make the plan understandable for each and every client.

Building your wealth

When building wealth — perhaps with children in the picture, saving for a home or college — the flow of money in and out is critical. Learning how to save for the future and invest wisely, tracking funds, and understanding how to manage expenses, are the challenges faced during this phase of your life. Wellspring has financial planning and management tools, as well as easy-to-use technologies, to address these challenging times.

Approaching retirement

As you near retirement, it’s about preserving wealth for the rest of your life — assuring you can maintain your style of living and accomplish all the goals you’ve laid out for yourself. Wellspring’s specialized planning tools ensure we have the best answers for you and a robust plan can be created with you.

The process for developing your plan

Years of experience and development of best practices has resulted in a process that is both proven and logical. We engage our clients deeply in this process so that together, we develop a plan that can succeed. For each stage in the process, we meet one or more times to accomplish the steps along the way.

Engage

The first step in the process is for you to learn about Wellspring, and for us to learn about you. Together, we develop mutual trust and begin to understand each other. We discuss what you want from the planning process and assure each other that we are a good fit for you. When you’re ready to move forward, and a mutual commitment is in place, we move to the next phase.

Gather

This will be a deep discussion, but a rewarding one, as it will be filled with self-discovery and the development of mutual understanding. We’ll help you discover information about your financial situation that you might not have ever considered or understood. We’ll listen to your needs, wants, goals and desires, and discuss tradeoffs. Implications of decisions will also come to the surface.

Analyze

In this phase, Wellspring will distill and digest your data. We’ll input the information into our models and have discussions and questions along the way as we sort through your information.

Develop

Wellspring now begins to develop your plan. There may be questions from Wellspring along the way, and we will probably meet with you at least once to review a draft of the plan and make final adjustments.

Implement

When the plan is complete, Wellspring will present it to you and discuss all aspects, including implementation. Investment decisions, changes in day-to-day ways of thinking and operating, all may come from the plan. We’ll also help you implement the plan.

Monitor

We’ll both monitor the plan to ensure it’s working as expected, and detect whether or not changes need to be made. This includes monitoring the performance of investments, ensuring spending is where we plan, and adapting to changes along the way.

Life

A plan that sits on the shelf and is never revisited is useless. At least once a year, we’ll discuss updates to your plan, and more often if a significant life event occurs.