Compass Capital Management

Makings of a financial plan

Establish Your Goal

Analyze Your Financials

Gather Your Financials

The first step to a financial plan is to define what you're planning for. Is it to have a comfortable retirement, have enough to send a child to college or maybe to save up for something special?

Gather Your Financials

Analyze Your Financials

Gather Your Financials

We will sit down together in a confidential meeting to discuss the details of your finances. This process may not be accomplished in one meeting but it is important that we continue to work together to get all the details to help build a solid plan.

Start A Financial Plan

Analyze Your Financials

Develop a Personalized Plan

Once we've gotten all the details to begin the foundation for your financial plan, we will spend time looking over the information you've provided. You may be asked to provide further information if we see anything has been missed.

Develop a Personalized Plan

Next we present the plan to you based upon the information you've provided. In this phase you many asked us to tweak the plan some. You're in charge of making sure that the financial plan is what you want it to be. With so many different variables to consider, your plan needs to develop, to evolve with your needs but remain within your capabilities and risk tolerance.

Implement Your Plan

Develop a Personalized Plan

Implement Your Plan

As simple as implementing the plan sounds, many people find that it is the most difficult step in financial planning. We will help you take the first steps to putting action to your plan.

Monitor Your Plan

Develop a Personalized Plan

Implement Your Plan

A financial plan is a living document. Life is full of change so we update and monitor your plan throughout the year. When something changes financially in your life we will expect you to let us know so we can keep your plan up to date.

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Investments

Risk Management

Investments can play a key role in your financial plan. A mix of quality investments can help you pursue your goals.

Risk Management

Taking the appropriate amount of risk is a key component to working towards your long term goals.

Do you know your risk number?

Get a Free Portfolio Risk Analysis

Insurance

Risk Management

Insurance

Insurance is essential to any comprehensive financial plan. It can help protect you and your family from undue hardship.

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Asset Allocation

Charitable Giving

Asset allocation is the process of selecting a mix of asset classes that closely matches an investor’s financial profile in terms of their investment preferences and tolerance for risk.

Charitable Giving

Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune.

Your Finances

Charitable Giving

Your Finances

Managing your finances is an important component to any financial plan. Money management strategies help you manage your savings on a daily basis.

important questions to ask your advisor

1. Are you a fiduciary?

3. What are my all-in cost?

1. Are you a fiduciary?

A fiduciary is an individual in whom another has placed the utmost trust and confidence to manage and protect property or money. It is a relationship in which one person has an obligation to act for another’s benefit and make recommendations accordingly.

2. How do you get paid?

3. What are my all-in cost?

1. Are you a fiduciary?

The financial industry is this strange meld of commission, percentage of assets, hourly and flat rate. Understanding how your advisor is compensated may help you determine if they are a good fit for your financial goals.
To keep it simple, focus on advisors that do not earn commissions only, but have the flexibility to offer what better suits your personal situation. They might charge a percentage of your assets, a flat fee for services or an hourly fee.

3. What are my all-in cost?

4. What services are included?

In addition to paying the advisor, you’ll face other fees, and you’ll want to know what they are. Some fees can have the potential to drastically reduce your savings.

4. What services are included?

6. What's your investment philosophy?

4. What services are included?

Decide what services are important to you. Then make sure the planner aligns with your needs.
As an example, do you want holistic financial planning services that include tax and retirement planning, or are you looking for an advisor whose main focus is managing your investment portfolio?

5. How will our relationship work?

6. What's your investment philosophy?

In other words: How much access will you have to the advisor? You want to know how often you’ll meet and whether they are available for phone calls or emails outside of scheduled appointments.

6. What's your investment philosophy?

It’s very important to ensure you have the same investment philosophy. Here’s why: The investment industry is one of constant change. You need to be able to trust the course that your advisor has recommended during both times of growth as well as more challenging times.

7. What asset allocation will you use?

You’ve heard how important it is to be diversified, right? Your asset allocation is how you create a diversified portfolio.
You will want someone who will educate you on the different types of investments that may be appropriate for you.

8. Who is your custodian?

7. What asset allocation will you use?

Ideally, your financial advisor has hired an independent custodian, such as a brokerage, to hold your investments, rather than act as his or her own custodian. That provides an important safety check.

9. What investment benchmarks do you use?

10. Do you consider taxes when you invest?

Advisors should use benchmarks that directly relate to what they’re invested in. If they do not, they need to be able to explain why they don’t.

10. Do you consider taxes when you invest?

Asking this question is a way of ensuring the advisor has your tax bill in mind when making financial decisions on your behalf.
What you want to know is: What do you get to keep after fees and after taxes?
Don’t forget that you’re paying for someone to clarify your financial life, not make it more confusing. If an advisor is not doing that, walk away.

Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Compass Capital Management are separate entities from LPL Financial. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with the residents of the following states:

AL, AR, CO, CT, DE, FL, GA, IA, IL, IN, KS, LA, MI, MO, MD, MS, NC, ND, NM, NY, PA, SC, TN, TX, VA

Financial Planning

Makings of a financial plan

Establish Your Goal

Analyze Your Financials

Gather Your Financials

Gather Your Financials

Analyze Your Financials

Gather Your Financials

Analyze Your Financials

Analyze Your Financials

Develop a Personalized Plan

Develop a Personalized Plan

Develop a Personalized Plan

Develop a Personalized Plan

Implement Your Plan

Develop a Personalized Plan

Implement Your Plan

Monitor Your Plan

Develop a Personalized Plan

Implement Your Plan

What's in a plan

Investments

Risk Management

Risk Management

Risk Management

Risk Management

Risk Management

Insurance

Risk Management

Insurance

Asset Allocation

Charitable Giving

Charitable Giving

Charitable Giving

Charitable Giving

Charitable Giving

Your Finances

Charitable Giving

Your Finances

how to get started

Schedule

Schedule

Schedule

Discuss

Schedule

Schedule

Partner

Schedule

Partner

important questions to ask your advisor

1. Are you a fiduciary?

3. What are my all-in cost?

1. Are you a fiduciary?

2. How do you get paid?

3. What are my all-in cost?

1. Are you a fiduciary?

3. What are my all-in cost?

3. What are my all-in cost?

4. What services are included?

4. What services are included?

6. What's your investment philosophy?

4. What services are included?

5. How will our relationship work?

6. What's your investment philosophy?

6. What's your investment philosophy?

6. What's your investment philosophy?

6. What's your investment philosophy?

6. What's your investment philosophy?

7. What asset allocation will you use?

7. What asset allocation will you use?

7. What asset allocation will you use?

8. Who is your custodian?

7. What asset allocation will you use?

7. What asset allocation will you use?

9. What investment benchmarks do you use?

10. Do you consider taxes when you invest?

10. Do you consider taxes when you invest?

10. Do you consider taxes when you invest?

10. Do you consider taxes when you invest?

10. Do you consider taxes when you invest?