Retirement Planning Process Steps
EGADIM (EGAD I Made it)
Establish Client Relationship
Gather Data
Analyze Data
Develop Plan
Implement Plan
Monitor Plan
Step 1 Retirement Planning Process
Establish Client Relationship
Based upon believe and a collectively described expertise of the scope of offerings to be
presented
Perception of trustworthiness
Identifying the offerings to be furnished
Disclosing the counselor's reimbursement association
Determining every parties duties
Establishing the duration of the engagement
Step 2 Retirement Planning Process
Gather Data
Ran unprocessed materials
Needed to shape legitimate dreams and expectancies
Family
Income
, Assets
Debts
Time horizons
Health
Estate Plans
Step three Retirement Planning Process
Analyze and Evaluate Clients Info Create economic statements Create coins drift statement and
assertion of monetary function Requires you and the customer to agree on financial
assumptions; destiny inflation and return expectations
Step four Retirement Planning Process
Developing and Presenting Financial Planning Recommendations and/or alternatives
An choice should usually be to keep doing what they're doing
Making 2 or 3 different recommendations
Review execs and cons
Help them arrive at a choice they sense excellent about
Step five Retirement Planning Process
Implementing the Financial Planning Recommendations
A plan needs to be carried out to be able to make any progress
Both counselor and patron agree on who's going to do what
Client desires to growth contributions; circulate money to CDs, and so on
Counselor needs to invest money in manner consistent with what changed into exposed in
preceding steps
Step 6 Retirement Planning Process
Monitoring the Financial Planning Recommendations
Review the plan as time goes alongside to monitor progress or make adjustments as needed
Assets
Cash and cash equivalents, invested assets, use assets
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