The Financial Planning Process

At Barnett Financial, we provide our clients with comprehensive financial planning and investment management on an ongoing basis. It is this process that allows us to have a transformational impact on their lives, and to give them the peace of mind they expect.

Barnett Financial considers your current situation, including such factors as your cash flow, net worth and tax situation. Then we consider what you would like to achieve, whether it be an early retirement, starting a business or putting your kids through college. Then we develop the plan that tells you how to get from here to there. The planning process culminates in a comprehensive Financial Plan that is tailored to meet your specific financial and personal needs.

Initial Meeting

At Barnett Financial, we offer a complimentary initial consultation usually lasting about an hour to get to know each other and to determine whether there is the possibility of a good working relationship. We strive to provide an exceptional level of service to a limited number of clients and so we look for individuals with whom we can have the most fruitful, trusting and durable relationships.

Goal Setting and Data Gathering

Understanding the things that are important to you is critical to being able to help you achieve your goals. In the initial goal-setting meeting, we meet with you for one-to-two hours and have an in-depth discussion about your aspirations, career goals, life goals, financial goals, attitudes toward money and anything else that is important to you and your family. We have a full and frank discussion and together we document your goals in a structured and actionable way.

In this initial phase, we also collect all of your basic financial data. By comparing your goals, as established in the Goal Setting phase to your current situation, Barnett Financial is able to develop your financial plan. Click here to get a copy of our Financial Questionnaire. IMPORTANT: Clients that do not have the full version of Adobe Acrobat will not be able to electronically fill and print the questionnaire. Acrobat Reader will not allow you to type in and print the document. You must PRINT the questionnaire and fill manually.

Financial Plan Development

Barnett Financial develops the Financial Plan, based on your goals, and in consideration of your current situation. The Plan is clear, comprehensive, detailed and actionable. Depending on the circumstances, it addresses some or all of the following areas:

• Goals and Objectives
• Cash Flow / Budgeting
• Retirement Planning
• Investment Analysis and Recommendations
• Employee Benefits
• Life and Disability Insurance Needs Analysis
• Income Tax
• Estate Planning
• Risk Management
• Education Funding
• Business Planning

An important component of the Financial Plan is scenario analysis. Scenario analysis is not predictive; it does not reveal what will happen in the future. Instead, it shows the relative impact of the decisions you might make on your ability to meet your financial and personal goals and to assist you in developing realistic expectations regarding your retirement date, earnings and spending capacity.

If you’ve ever asked yourself such questions as “Am I spending too much each month?” or “How long can I expect my retirement assets to last?” then you have needed scenario analysis. Scenario analysis allows you to make difficult life decisions in the full light of rigorous analysis rather than “gut feel.”

Financial Plan and Investment Implementation

Once the Financial Plan has been established, Barnett Financial works together with you to implement the recommendations. We establish your investment allocation, streamline your record keeping, handle the administrative details and maintain the investment portfolio on your behalf.

Barnett Financial does not take custody of client assets. Assets are typically held at a large national discount broker such as Charles Schwab Institutional. Our clients receive consolidated, easy-to-read reports on a quarterly basis that gives them a comprehensive view of their investment portfolio and its performance.

For more information, download the sample Barnett Financial Quarterly Report.

Financial Plan Maintenance and Reporting

Financial planning is an ongoing process, not an event. After the Financial Plan has been implemented, it must be continuously monitored to ensure that your goals are met, as laws and circumstances change. In addition, your investment portfolio must periodically be rebalanced to meet your asset allocation targets. Barnett Financial performs these activities for its clients proactively.

In addition to our normal quarterly reports, we meet with clients via phone, email and in person to regularly review their unique situation. We also provide custom tax reports to our clients and our clients CPA’s during tax season