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Our Financial Planning Process

Our financial planning service model provides clients with a roadmap for their goals beyond just planning for retirement. Maybe you’re thinking about starting a family, opening a business, or planning for college expenses. What impact with that have on your finances? Are these goals attainable or are lifestyle changes needed? Have a goal? Let’s plan for it!

Ready to start your financial plan?

Here's how we do it.

Step 1: Introductory Phone Call

Are we a good fit for each other?

If you are interested in becoming a financial planning client of NextGen Wealth Services, the first step is a brief 10 to 15 minute phone call with one of our financial advisors. The goal of this call is to learn more about why you are looking to meet with a team of financial advisors to ensure that we are able to assist. We will also talk more about your financial goals and concerns, and an overview of our fees and services. If your financial situation matches our expertise, we will proceed to scheduling the Introductory Meeting.

Step 2: Introductory Meeting 

Can we help you? Do you want our help?

The initial meeting with our financial planning team is always complimentary. This is a data-gathering meeting where both parties determine if a relationship makes sense. This appointment serves as your opportunity to get to know our advisors so that you feel comfortable with us before deciding if you would like to move forward with our team. After learning more about your financial situation, the team will then discuss the different client service models and the associated fee structures. At the end of this meeting, we hope to answer two questions: Do you wish to move forward working with our team? And if so, which service model would you prefer? For clients seeking our more hands-on, holistic financial planning services, we will then schedule our strategy meeting and discuss the documents and information that we need from you before we get back together.

Required Documents for Strategy Meeting

Step 3: Strategy meeting

Discuss preliminary ideas

Our strategy meeting is typically scheduled for 2-3 weeks after the introductory meeting, to give you amble time to collect the required documents and for our team to review them beforehand. This meeting is meant to be educational, making sure that you are aware of all key aspects of your current financial situation. This includes reviewing your existing investments, discussing your monthly cash flow, and examining your protection policies, to determine if areas of improvement exist. Whatever your goals may be, we want to make sure that you have a plan in place to accomplish them. If an area of improvement is identified, our role as independent advisors means that we will provide you with multiple solutions to choose from. We are partnered with dozens of different investment companies to find an option that fits with your comfort level and situation. Don’t like any of the ideas we provided? Tell us! We’ll go back to the drawing board to find something that works best for you. The final decision is always yours.

Step 4: Plan delivery meeting

Implement your financial plan.

After bouncing ideas back and forth during the strategy meeting, our plan delivery meeting is where we provide our observations and formal recommendations on all stages of your financial planning. This meeting is designed to get to the root of your concerns, are you on track for your goals or not? If not, what steps are needed to get on track? You will receive our financial plan summary, which serves as a snapshot of your current financial picture and the action items we have identified. Together we will prioritize which items to tackle first and implement the solutions. We want to make sure you understand the “why” behind our recommendations and how it will improve your situation. Our financial planning services also provide clients with access to MoneyGuide Pro. This software serves as your go to place to view all aspects of your finances in a single location. This includes your bank accounts, investments, debts, and insurance policies. Instead of having dozens of different logins to view your finances online, MoneyGuide will aggregate the data on a single platform to view in a clear and comprehensive manner.

Step 5: Regular review meetings

Your partner along the way

Life is full of ups and downs. As life changes occur, your financial plan needs to adjust as well. 

The financial planning agreement requires that we meet to update plans at least on an annual basis, giving clients the peace of mind that we will remain in touch. However, finances are time sensitive. We don’t wait until our next review meeting to make necessary adjustments to the plan. The advisors focus on having strong personal relationships with all clients so that you feel comfortable reaching out. The team will also be in touch throughout the year to check in and discuss any changes that are needed based on current events. This is your financial plan, our team will be there to guide you every step of the way.