Client Profile #1 – Busy Executive
Let’s assume the scenario of a healthy 45 year old executive. It could be a male or female. This person
already has an attorney, accountant, insurance agent, and an investment advisor. But this person has no
time to plan given the demands of a consuming career. Our role as the planner is to help prioritize short
term objectives and use them as stepping stones to bridge the gap between today’s actions and longer
term goals.
Here is how our experience might add value for this individual:
We might provide comprehensive document review and organize important papers. Has an opportunity been missed because of disorder? Would it be helpful if a “family fact sheet” were prepared that would include a summary description of every asset and liability? In the event of an emergency, could a roadmap like this be used to make important decisions?
We will introduce our timeline planning tool. We want to show how decisions made in the past are scheduled to play out into the future. If, for example, the home mortgage is scheduled to adjust at a point in time, then would it be helpful if the event and its impact could be forecast and become a part of the larger plan?
We will assist in creating a cash flow reporting system that can be used to streamline the tax planning process. We will devise a system to keep track of net worth. Can this busy executive provide a banker with a current financial statement within 24 hours? Does this inability to respond in a timely matter hurt this person?
If this person is a passive investor, then would it be helpful if we reviewed his or her investments and provided an update with respect to performance?
Is there a need to review and maintain various insurance policies – home, flood, excess coverage, wind, personal articles, personal liability, renters, auto, workers compensation, business owners, and a home office rider?
If this person has a small business, is a comprehensive planning approach being utilized?
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