This “7 Steps to Financial Success” Process is designed to clearly communicate the way we work with our clients and to clarify the roles and responsibilities of the financial planner and the client. It lays out systematically a simple-to-understand-and-implement approach to working together
OUR RESPONSIBILITIES: When you contact us, we will provide a brief description of services, philosophies, methodology, and fee structure. We will direct you to our Web site to help you learn more.
YOUR RESPONSIBILITIES: You review our web site to learn more. If our services appear to fit your needs, you contact us to schedule a Complimentary “Get Acquainted Meeting” in person or on the telephone. We will send you a confidential questionnaire for you to begin organizing your important financial information.
COMPLIMENTARY GET ACQUAINTED MEETING
OUR RESPONSIBILITIES: We will meet with you free of charge for an initial session. It is an opportunity to exchange information about your needs and objectives, to discuss which services are right for you, and to provide you an estimate of the cost of our services. Carolina Capital Solutions, LLC does not work on commissions while providing Financial Planning, and instead charges for services on an hourly, as-needed basis. The purpose of this meeting is to see if we are a good fit for your needs. We will not provide any specific financial advice during this initial meeting.
YOUR RESPONSIBILITIES: At the conclusion of the meeting, decide if you will use our services. If you choose to use our services, we will define the engagement’s scope together in writing. We will also provide a list of additional information that we will need to begin formulating your personal financial plan. A portion of the total fee is due upon committing to the engagement.
DATA GATHERING & INITIAL PREPARATION
OUR RESPONSIBILITIES: After receiving your information, we will begin to review and develop your custom financial plan. We will prepare initial reports to discuss with you at your next meeting.
YOUR RESPONSIBILITIES: You will need to gather the requested data and then possibly complete a secure online questionnaire and a risk tolerance questionnaire. This information will need to be returned to us well before our next meeting. You may either mail or easily complete an onboarding tool through our Wealth Portal client Personal Financial Manager.
INTERACTIVE GOAL SETTING
OUR RESPONSIBILITIES: Depending on your individual circumstances, this meeting may or may not be necessary. If it is, it can be in person or via teleconference and screensharing on your computer. We will work with you to further discuss and clarify the information you have provided thus far, and to refine your financial goals and objectives.
YOUR RESPONSIBILITIES: This is another opportunity for you to clarify your current situation, financial goals and objectives, and to discuss with us any additional questions and concerns. Come prepared with any additional questions or concerns you may have. We strongly advise that all decision makers in the family attend.
ANALYSIS AND PLAN FORMULATION
OUR RESPONSIBILITIES: We refine the information you have provided and study various plan scenarios. We conclude the research and analysis, and produce the final reports that include observations, assumptions, specific recommendations, and an action plan for your unique situation.
YOUR RESPONSIBILITIES: The ball is in our court. All you have to do at this point is await your next meeting with us.
PRESENTATION OF YOUR FINANCIAL PLAN
OUR RESPONSIBILITIES: We review with you your personal financial plan and specific recommendations. We discuss all reports and provide you with a written summary of our observations and specific recommendations.
YOUR RESPONSIBILITIES: Congratulations! You now hold your personal blueprint custom designed to help you meet your financial goals. Full payment of the balance for the actual fees incurred is due at the conclusion of the plan presentation meeting. You are empowered with specific recommendations to implement your financial plan. If you wish, you may employ us further to assist you in carrying out that plan.
OUR RESPONSIBILITIES: Periodic update meetings and reviews are essential to maintain good fiscal health. We can schedule these periodic meetings with you at whatever frequency you think appropriate.
YOUR RESPONSIBILITIES: Financial planning is an ongoing process, not a one-time event. Proper implementation of a financial plan and periodic professional reviews are crucial to reaching your financial goals. It is important to monitor your financial health. You can engage us to update your financial plan annually to make any necessary adjustments. If you want ongoing assistance with your investments, we can meet more frequently. Flexibility is the key to delivering the service you want and need.