Financial Monitoring
Financial Monitoring - Annual Planning Review and Update
(Phase II) - $8,040
Once you have completed the prerequisite of Personal Financial Independence Planning (Phase I), you are ready for the Monitoring Service (sometimes referred to as Phase II) of our program. Under Phase I, your CWA financial advisor works with you to create a customized financial plan. As a monitoring client in Phase II, CWA will devote a full day towards your finances and the progress you are making towards reaching your goals each year. During this meeting, we will also focus on your investments, cash flow planning, tax planning, break-even analysis, retirement plan analysis and funding, educational funding, and review the appropriate time to evaluate and transition your practice, if applicable.
The primary purpose of the Monitoring Service is to measure the progress you have made towards your financial goals. Have your goals changed? How will changes in pension or tax laws impact the plan? Is the practice operating at its break-even? Does the break-even need to be revised? Are the investments achieving the returns targeted in the initial plan? Taking all of these variables into consideration, we know that the greatest probability of success is achieved when you state your goals and revisit them periodically. This service includes:
- An annual meeting with you at our offices, to review and to update your financial objectives and financial status
- Continuing to review and to analyze, with you, via telephone conferences, additional financial information, as furnished by you to our firm, relating especially to your financial plan, to your current financial objectives and financial status
- Continuing to assist you in implementing the financial strategies which you have determined to pursue, as based on our recommendations
- General Estate Planning Services, which are limited to review of your documents and your financial situation to assist you in determining whether revisions or changes are required, or whether a more sophisticated, Estate Planning Consultation should be considered
- Continuing to make available representatives of our firm, to assist you in taking the appropriate or necessary actions, as you determine are appropriate to take, including as based on our recommendations
- Generally, continuing to monitor your progress, concerning the issues, mentioned above, for your benefit
- Based on our review of your financial information, provide annually a written analysis of your current financial status, including, where appropriate, financial projections and estimates for greater understanding of the potential outcomes of our recommendations
The fee above includes $300 per year for specific monitoring services if you are a trustee and/or sponsor of a pension plan.
If you do not have a pension plan, the fee will be $7,740 for personal financial plan monitoring services.
Contact us today if you are interested in speaking with a representative from our firm.
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Contact Us
Cain, Watters & Associates
5580 Peterson Lane, Suite 250
Dallas, Texas 75240-5158
Phone: (972) 233-3323
Fax: (972) 663-3799