While the specific tasks differ according to the service, the basic underlying process as described below is the same. At the Hedrick Co., we know that investment management, divorce settlements, and special situation consulting are best accomplished by thoroughly understanding each client.
“Perfection has to do with the end product, but excellence has to do with the process.”
– Jerry. Moran
Getting to Know Each other
Most of us limit our thinking about some of our biggest life goals within the confines of what we think is realistic or affordable. I want to hear about your dreams and desires, no matter how impractical you think they may sound. Do not get stuck on trying to guess numbers—we have experience in that. Remember your goals are not really financial—the money aspect is only the cost of meeting your goals. It is also important to know about your fears. Managing risk is the key to tranquility as you survey the results of your efforts. While we certainly want to work efficiently together, discussing goals and possibilities is not an aspect to hurry through, or to confine to a client questionnaire.
After an introductory phone call, we schedule an initial meeting at which we continue the conversation and review financial details. There are forms and a checklist for document copies to ensure complete data gathering.
During this meeting, you will be able to see how well I listen and understand what you say. I’ll answer as many of your questions that are possible to answer immediately. By the end of this meeting, we will know if I am the right planner for you. There are many skilled planners with different approaches and different personalities. Contrary to what most of us like to believe, there is also more than one successful strategy
Drafting a Plan
Second, I will draft a plan that encompasses the concerns, questions and solutions pertinent to your circumstances. Together, we refine this into a plan of action
Set your plan to work
Next, we implement the agreed upon plan and let it go to work.
Lastly, financial planning is a process, not an event. The fourth step is not only monitoring the plan, but also keeping it relevant to your life. Everybody changes over time – the more I understand about you, the better work we can do in positioning you to meet the monetary requirements of your goals. In other words, we are beginning a relationship that involves ongoing communication and adjustments of financial arrangements to enhance your journey through life. The frequency and method of our communication varies over time, depending on what is going on in your life.