All Bosworth Financial Services programs follow a rigorous planning process modeled on CFP Board of Standards guidelines. This process is thorough and effective. It involves six steps.
Step 1: Establishing the Working Relationship
We clearly explain and document our services, define the responsibilities each of us has and clearly lay out our fees and any other expenses you may incur.
Step 2: Gathering Information
We familiarize ourselves with your life and financial circumstances, gain an understanding of your financial and investment views, and help you articulate goals. Key documents such as tax returns, insurance policies, and investment statements are reviewed.
Step 3: Evaluation and Analysis
With the help of sophisticated computer software we analyze your overall situation, including the likelihood of attaining key goals. Depending on our agreement, we provide detailed assessments of cash flow, insurance coverage, investment performance, retirement plans, estate plans, and tax strategies.
Step 4: Recommendations
On the basis of our analysis and further conversations we develop a customized set of recommendations specifically tailored to meet your goals. Always being mindful of your preferences and concerns, initial recommendations may be revised based on your reactions.
Step 5: Implementation
We reach agreement on how to best implement recommendations. Some we will carry out on your behalf, many you can implement yourself, while others may require work from your CPA or attorney, either acting independently or in concert with us.
Step 6: Ongoing Monitoring
Plan progress should be reviewed periodically, making appropriate modifications to strategy and tactics based on changing personal and market conditions. Having experienced the integrity and quality of our work, we expect that you will value our ongoing involvement in keeping your plan on track.