Accomplishing your Clients' goals with goalgamiPro

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Information about Accomplishing your Clients' goals with goalgamiPro

Published on March 14, 2014

Author: AdvisorSoftware



Learn how to use goalgamiPro, a quick financial planning tool, to better your practice and help identify your clients' goals.

 Initial Meeting (Marketing Seminar)  Data Gathering (Offline Questionnaire)  Analysis & Entry into goalgamiPro(goalgamiPro)  Plan modeling (Household Plan)  Goal Achievement Report  Presentation  Implementation and Review  Periodic Plan Reviews

 Illustrates Goal Achievement Report by showing a sample.  Uses the questionnaire/ as a guide.  Asks the question: “What would you like to accomplish with your resources (goals)?”  Reviews and Analyzes client’s financial position  Identifies both financial and personal goals and objectives  Identifies planning & business opportunities.  Assesses client’s household profile  Evaluates Resources that can be used to achieve goals.,  investment philosophy, risk management, tax management, estate planning, and realism of goals and objectives.

 Explains Necessary, Target and Aspirational goal levels.  Creates what if analysis – example LTC vs Care Event.  Sets length of Life to a conservative level – such as 90, to show the impact of a long retirement.  Looks at goal creation and review as a journey with good communication.  Takes the perspective of the household – not individual members.

 Planner Actions: Provides client with offline questionnaire or fact finder of required information and forms for providing relevant data. Compiles data from client.  Reviews financial accounts, savings, benefits.  Starts articulating goals (uses Collaboration Connect)  Client Actions: Gathers Documents and Fills in questionnaire as accurately and completely as possible. Provides copies of financial accounts and states household goalsgoals.

 Initially, look to capture account balances  For Social security and anticipated benefits, use the goalgamiPro calculator.  Based on age and demographics, recommends starting goals.  Let the client aim for the target, then adjust to fit necessary and aspirational levels  Notes to advisor – talk about the practice services and assumptions.

 Planner Actions: Reviews and Analyzes client’s total financial position based on the balance sheet.  Identifies both financial and personal goals and objectives – creates a narrative for the client  Creates scenarios based on the clients objectives.  Considers next steps - asset allocation, future disposition and investment philosophy, risk avoidance management, tax management, estate planning, and realism of goals and objectives

 Creates the goal achievement reports. Reviews on a monthly basis, but communicates to client annually.  Planner Actions: Monitors Plan Progress and advises client on factors which could affect plan progress.  Creates a Household  Creates a Household Plan  Generates a Goal Achievement Report › Reviews “What is my Plan” › Reviews “Can I afford my goals?” › Reviews “How do I pay for my retirement?”  Client Actions: Approves Plan, with agreed upon modifications.

 Planner Actions: Presents Goal Achievement Plan with specific next steps.  Client Actions: Continues to Work with advisor and other member of financial planning team to accomplish necessary measures.

 Planner Actions: Assists Client in Implementation and coordinates financial team activities.  Client Actions: Advises planner of changes impacting financial status.

 Planner Actions: Notifies Client of need for plan revision.  Client Actions: Consults with Planner as necessary

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