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Cory Martel, CFP®

Investment Representative
Freedom 55 Financial

The Six Step Process of Personal Financial Security Planning

Personal financial security planning focuses on my client’s needs. In order to best serve my individual client's needs, I employ The Four Cornerstone Process comprising these six distinct steps:

  1. I help you clarify your present situation by collecting and assessing all relevant financial data such as your lists of assets and liabilities, tax returns, records of securities transactions, insurance policies, will, pension plans, etc.

  2. I then help you identify both financial and personal goals and objectives as well as clarify your financial and personal values and attitudes. These may include providing for children's education, supporting elderly parents or relieving immediate financial pressures which would help maintain your current lifestyle and provide for retirement. These considerations are important in determining your best financial strategy.

  3. I will expose and identify financial problems that create barriers to achieving financial independence. Problem areas can include too little or too much insurance coverage, or a high tax burden. Your cash flow may be inadequate, or the current investments may not be winning the battle with changing economic times. These possible problem areas must be identified before solutions can be found.

  4. I always provide written recommendations and alternative solutions to those people that will become clients. The length of the recommendations will vary with the complexity of your individual situation, but they should always be structured to meet the your needs without undue emphasis on purchasing certain investment products.

  5. A financial security plan is only helpful if the recommendations are put into action. Implementing the right strategy will help you reach the desired goals and objectives. I will assist you in either actually executing the recommendations, or in coordinating their execution with other knowledgeable professionals.

  6. Finally I will provide periodic review and revision of your plan to assure that the goals are achieved. Your financial situation should be re-assessed at least once a year to account for changes in your life and current economic conditions.