Welcome to Clerestory Advisors!
Over the course of several months, we will work with you to create a financial plan showing your current financial picture, analysis of this information and our recommendations to help best achieve your goals.
During the client on-boarding process, you can expect to have 3-4 meetings that will take us through the initial financial planning process. We plan for meetings to last between 1.5-2 hours and to complete the initial meetings within a few months. Below, we describe the basics of what you can expect at each meeting. However, we know that every client has unique needs and priorities and our meetings are always flexible to accommodate for this.
After the initial on-boarding meetings are completed, you can expect to meet with us a minimum of once a year at our annual review meeting to update all aspects of your goals and plans. We often meet with clients at other points in the year if other needs arise or life transitions occur (i.e. starting a new job, buying a new home). For most clients, we will be in contact at least quarterly. You can also expect us to reach out to you with follow up items as well as to check in between meetings.
Meeting One
Goal Setting
We review your answers to the client goal setting and money history questionnaires and refine an initial set of goals that will help to guide us throughout the financial plan process.
Risk and Investment Overview
We discuss your risk tolerance in order to decide on an appropriate portfolio allocation and review the basics of investing along with our approach.
Meeting Two
Financial Picture
We complete an overview of what we know of your financial life. We initially review your balance sheet to get a picture of your assets and liabilities. We then review the budget you have developed that we use to help create your savings or distribution plan. We also review your current tax situation and give recommendations around tax savings strategies.
Savings or Distribution Plan
We present a look at your current and future cash flow to help create an appropriate savings or distribution plan based on your specific needs.
Education Funding
If you have children or grandchildren that you would like to provide college funding for, we review your options and create a plan that will effectively meet your goals.
Meeting Three
Retirement Plan/Long-Term Projection
We review the spending and saving assumptions we used to create your initial long-term projection. Our goal is to create a successful projection by helping you prioritize your goals and see the impact through “What If” scenarios.
Investment Plan
We provide analysis of your current investment allocation and our recommendations for changes. We determine a course of action to move your accounts to Schwab, consolidate and clean up old accounts and connect your outside accounts to our client portal. For any outside work accounts, we review the available investment options and our recommendations for the best possible allocation.
Meeting Four
Risk Management
We review your various insurance policies from property/casualty to life to disability. We assess your current level of coverage and give recommendations on any need to increase, add or alter coverage.
Estate Plan
If you already have estate documents, we will review these with you and give feedback on any major areas. If you do not, we will give an overview of the estate planning process, recommendations for your situation and help provide referrals as needed for an estate attorney. We are always willing to attend initial estate planning meetings if you and your lawyer decide that would be helpful.