How We Can Help You

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The Sound Financial Planning Inc. (SFP) mission is simple:  We assist our clients in building long-term financial freedom by creating peace of mind and confidence in their financial future and goals.  In simpler terms, we focus on what we do best, solving your comprehensive financial planning needs.

 

Bill Morrissey, the founder and principal of SFP, has over twenty five years of experience working with individuals and families in the financial planning field.  Throughout his tenure he has developed a comprehensive, holistic wealth management process that gives you the peace of mind needed to achieve your financial goals in a complex financial world.  The primary purpose of this process is to achieve your on-going financial objectives.  Each step in the process is designed to help you feel confident that your financial and investment goals are managed, and your need for dependable, unbiased service is met.

 

Step 1:  Build the Relationship

 

The primary objective of step one is getting to know you, and mutually agreeing on your financial goals.  Each client is unique in their financial desires and needs.  Taking the time to develop a solid, trusting relationship is the key to making sure you are being served well.  During this step we will do the following: 

 

  1. Invite you to come into our office for a Complimentary Meeting to go over your financial objectives and long-term goals.
  2. Document your financial objectives which will serve as the fundamental blueprint for your financial plan.
  3. Define what “true wealth” means to you.
  4. Discover your personal insights about life balance.
  5. Organize and document pertinent family information.
  6. Talk about current transitions that you may be going through.

Step 2:  Develop the Strategy

 

Achieving financial freedom and peace of mind starts with a plan.  Step two is designed to create a road map to achieve your future financial goals.  During this step we will put our proven experience and expertise to work for you.  We will begin gathering additional information and create a comprehensive plan designed to meet your goals and it will include the following:

 

  1. Discuss the most important short-term issues that need to be addressed.
  2. Evaluate your current financial condition and discuss changes that need to be made to help you achieve your goals.
  3. Analysis of your cash flow and prepare a budget to meet cost-of-living needs to achieve the greatest financial life balance.
  4. Identify and assist in implementing all education funding and estate planning strategies that are appropriate.
  5. Review your federal income tax status to determine the extent of your tax planning needs.
  6. Identify your financial strengths and create a plan to maximize those opportunities.
  7. Assess current investment portfolio attempting to determine current and expected returns, diversification, and degree of acceptable risk in relation to your goals.
  8. Review insurance coverage’s, to include life, auto, medical, personal liability, and other specialized forms of insurance potentially relevant to your financial situation.
  9. Determine the feasibility of achieving your retirement financial objectives within your stated time frame and based on alternative economic scenarios.
  10. Present and discuss “Life Enhancing Financial Plan”
  11. Outline recommendations which you may consider implementing in order to optimize your financial plan
  12. Set priorities and create an action plan to implement recommendations

Step 3:  Monitoring Your Plan

 

Achieving successful financial freedom is driven by progress—progress towards your goals. The driving factor behind our business is our Fee-Only compensation model, which means we are not driven by the sale of financial products. The only compensation we receive is from you, our client.  We believe this business model creates the clearest message about the level of responsibility and care that must be exercised on behalf of each client’s progress toward their financial goals.  After we have developed and designed your financial plan we will monitor your goals and plan throughout our long-term, ongoing relationship with you.  The following is a list of expectations you can expect from this service:

 

  1. Annual update of your financial plan.
  2. Unlimited service and updates to your plan based on changes in your life.
  3. Rebalancing of current portfolio to meet your investment objectives.
  4. Performance reporting to help you understand where you are today.
  5. Ongoing advice and coaching to keep you on track with your goals.

 

Contact us today to schedule your first complimentary planning meeting.