Falbo Wealth Management Comprehensive Planning Process

Our streamlined process consists of one phone meeting and three in-person meetings, designed to make your financial planning journey as straightforward and efficient as possible:

1. Introductory Phone Call (One phone meeting)

Establish a connection, assess your current financial situation, and determine the value our services can add
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2. Education & Strategy Session (Preparation for the journey)

You’ll prepare and gather key financial documents. Then, you’ll watch our “Everything You Need to Know to Retire Comfortably” video, which includes a focused strategy session slide to help you assess your current plan. The strategy session allows you to gain a clearer understanding of your current strategies on key financial and retirement issues and identify areas for improvement. The overall video provides essential financial education to ensure you fully grasp the basics of financial planning—an area often misunderstood.
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3. Financial Road Map Meeting (First in-person meeting)

We dive deep into your values, motivations, and goals, benchmark your current financial reality, and assess your risk tolerance. We’ll revisit the strategy session to review your current retirement strategy, identifying gaps and areas for enhancement. This meeting lays the foundation for your personalized financial plan.
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4. Creating the Financial Road Map (Behind the scenes)

Our team goes to work on preparing your detailed Financial Road Map
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5. Plan & Strategies Review Meeting (Second in-person meeting)

We present your Financial Road Map, discuss your plan’s alignment with your life goals, and provide a prioritized action plan.
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6. Implementation Meeting (Third in-person meeting)

We focus on putting your plan into action, ensuring all necessary steps are in place for effective implementation
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7. Ongoing Support (Continued Partnership)

We continue to implement and review your plan, making adjustments as needed and providing regular progress updates.
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Step 1: Introductory Phone Call Objective : (One phone meeting)

Establish a connection and gain a clear understanding of your current financial situation.
Determine how our services can add value to your financial journey.
Assess if it makes sense to move forward to the Education & Strategy Session.
Strategy Review: We’ll briefly discuss your current approach to key retirement issues, helping us identify any immediate areas for improvement and set the stage for deeper discussions.

Step 2: Education & Strategy Session Objective: (Preparation for the journey)

Document Preparation:You’ll prepare and gather key financial documents that will help us understand your current financial situation
Education: We’ll provide a complimentary review of our “Everything You Need to Know to Retire Comfortably” video. This will give you a clear and concise understanding of the basics of retirement and financial planning. Combined with additional financial education resources we offer, this will help you address common misconceptions about retirement planning, ensuring you have a solid grasp of the fundamentals..
Strategy Session: As part of the video, there’s a specific slide dedicated to a strategy session that reviews key retirement issues and presents thought-provoking questions. This slide is designed to help you reflect on and articulate your current financial plan or strategy. By engaging with this strategy session, you’ll be able to identify gaps in your current approach and determine areas where improvements can be made. These valuable insights will be essential as we move forward in the planning process.

Step 3: Financial Road Map Meeting Objective: (First In-Person Meeting)

Clarity: We’ll set specific goals—both date-specific and dollar-specific—that require financial planning to achieve.
Benchmark Current Reality: Together, we’ll review and benchmark your current financial reality using the documents you provide. During this process, we’ll revisit and expand upon the strategy session from Step 2, incorporating the insights you’ve gained and addressing any additional areas of concern.

Strategy Session: We’ll conduct a detailed review of your current strategy for key retirement issues, identify any gaps, and determine where improvements can be made to enhance your overall strategy

Risk Assessment: We’ll determine your current risk tolerance.

This meeting lays the foundation for creating a comprehensive financial plan. By the end of this session, we’ll decide together whether it makes sense to proceed to the next step: Creating the Financial Road Map.

Step 4: Creating the Financial Road Map Objective: (Behind the scenes)

Our team will go to work on preparing a detailed Financial Road Map tailored to your unique goals, values, and financial situation.
We’ll determine how much you need to retire comfortably and sustain that lifestyle throughout retirement
We’ll assess the probability of achieving your goals, providing you with a clear picture of your chances of success.
We’ll provide a comprehensive, step-by-step plan of action to help you live your life on purpose.

Components

Retirement Planning: We’ll determine the amount needed to retire comfortably and maintain that lifestyle throughout retirement.
Probability Analysis: We’ll calculate the likelihood of achieving your financial goals.
Action Plan: We’ll create a detailed plan outlining specific actions to take in various areas of your financial plan, including

Cash Reserves: We’ll recommend the appropriate amount of cash reserves to maintain.
Debt Management: We’ll provide specific advice on how to reduce or eliminate debt on a schedule that works for you.
Insurance Review: We’ll evaluate your insurance needs, determine how much coverage you should have, and identify the right type of insurance for you.
Asset Allocation: We’ll review how your assets are currently allocated and offer advice on how to deploy or allocate those assets for maximum efficiency

The result is a comprehensive plan designed to give you the highest probability of working towards your goals, intricately tied to your unique life and financial circumstances.

Step 5: Plan & Strategies Review Meeting Objective: (Second In-Person Meeting)

Plan Delivery: We’ll present and review the concise executive summary of the Financial Road Map we’ve developed specifically for you.
Tied to Your Life: We’ll ensure the plan reflects your unique core values and motivations and aligns with your date-specific and dollar-specific goals.
Probability of Success: We’ll show you the probability of achieving your goals based on the plan and discuss how likely you are to reach them.
Prioritized Action Plan: We’ll provide a prioritized action plan with clear steps on what to do next.
Strategic Advice: We’ll offer targeted advice on strategies and solutions to improve your plan and enhance the likelihood of pursuing your goals.
Deliverables: You’ll receive a 2-page summary, a written plan summary, and an MGP report.

This meeting provides a comprehensive overview of your personalized financial plan and includes a discussion on whether it makes sense to proceed with implementation together.

Step 6: Implementation Meeting Objective: (Third In-Person Meeting)

Implementation Focus: We emphasize that having a great plan is essential, but implementation is crucial for achieving results.
Action Steps: We’ll review the steps required to put the plan into action and ensure everything is set for effective implementation.
Collaborative Decision: We’ll confirm if it makes sense to move forward with the implementation together.

This step ensures that the plan is not just theoretical but is actively put into practice to produce the desired financial results

Step 7: Ongoing Objective: (Continued Partnership)

Implementation: We’ll continue executing the financial plan, ensuring that all agreed-upon strategies are being effectively implemented.
Ongoing Reviews: We’ll regularly review and assess the progress of the plan, making adjustments as needed to stay aligned with your goals.
Progress Reports: We’ll provide updates and reports on your financial progress to keep you informed and ensure that you are on track to achieving your objectives.
Deliverables: You’ll receive plan updates, a 2-page summary, reviews of your values, and financial education pieces.

This step ensures that your financial plan remains dynamic and responsive to any changes in your circumstances, life transitions, goals, or market and economic conditions.

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