Our Process

Our staff includes a team of professionals including CERTIFIED FINANCIAL PLANNER™ professionals, Chartered Financial Consultants®, Accredited Asset Management Specialists®, Chartered Retirement Planning Counselors®, and Chartered Life Underwriters®. At NPWM, we follow the CFP Board of Standards six-step approach to financial planning.

The financial planning process consists of the following six steps:

  1. Establishing and defining the client-planner relationship.
    We will clearly explain or document the services to be provided to you and define both our and your responsibilities. We will explain fully how we will be compensated and by whom. In addition, we should agree on how long the professional relationship should last and on how decisions will be made.
  2. Gathering client data, including goals.
    We will ask for information about your current financial situation. Mutually, we will define your personal and financial goals, understand your time frame for results, and discuss, if relevant, how you feel about risk. We will gather all the necessary documents before giving you the advice you need.
  3. Analyzing and evaluating your financial status.
    Then, we will analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments, or tax strategies.
  4. Developing and presenting financial planning recommendations and/or alternatives.
    Next, we will offer financial planning recommendations that addresses your goals, based on the information you provide. This step will include describing the details of each recommendation with you, to help you understand them, so that you can make informed decisions.
  5. Implementing the financial planning recommendations.
    Your financial advisor will help you implement the specific recommendations and in some cases, will serve as your “coach,” coordinating some aspects of the process with you and other professionals, such as attorneys and CPAs.
  6. Monitoring the financial planning recommendations.
    The final step in the process is monitoring your progress toward your goals. We will report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes. You will find that as you work with us, we will simplify the complexities of your financial life, by focusing on managing your wealth in a systematic way. The financial planning process is an ongoing relationship that helps you visualize your progress toward your long-term objectives.

We look forward to developing and maintaining a durable partnership with each of our clients.