We will do a free, “Get-Acquainted” meeting for one hour. We will explain our approach and the services we provide. We will answer questions the client may have about our services and philosophy. In return, we ask the client to provide a quick summary of their objectives and current financial approach.
After the “Get-Acquainted” meeting, the client will decide if they want to move forward with our professional services. If so, we will ask the client to sign a Client Service Agreement that will outline the services Hegarty Advisors, LLC will provide and the fee structure. We will also outline the documents and data we will need to move forward to provide the best service possible.
The next step is the client will complete a questionnaire and provide the relevant financial documents. By gathering this data, Hegarty Advisors, LLC will have the necessary information to do an initial analysis.
Financial Planning Phase
We will meet again to discuss a financial plan. This meeting will be a dialogue to fully understand the client’s unique circumstances. From the discussion, Hegarty Advisors, LLC will be able to ascertain the client’s current financial profile, their objectives and goals, lifestyle, dreams, risk tolerance, and identify proper assumptions for various scenarios. This meeting will also allow the client to ask additional question and to learn more to formulate a plan to give the client peace of mind.
Execution and Adjustment Phase
Hegarty Advisors, LLC will develop a detailed financial plan to meet the clients’ goals including cash flow analysis and portfolio design. We’ll complete Monte Carlo analysis to help the client understand the likelihood of meeting certain objectives with various assumptions and risk. The plan will be comprehensive and include recommendations such as methods designed to minimize taxes, maximize return potential for a given level of risk, asset allocation, explain how different spending levels today will impact the future, debt payment plan, insurance needs, saving for college, a retirement spending plan, and how to have enough money for those bucket list adventures.Hegarty Advisors, LLC will also help clients make any financial decisions such as purchasing real estate, estate planning, charitable gifting, or increasing insurance coverage.
Hegarty Advisors, LLC will provide a detailed presentation to the client. They will meet soon thereafter and review the presentation.
The advice is constant and not a one time plan. Once the initial financial plan is complete, the journey or execution phase begins. As life events occur such as marriage, births, deaths, change in income, illness, inheritance, new charitable desires, or other events, Hegarty Advisors, LLC will constantly be providing advice and making adjustments to meet the changing circumstances. This may include adjusting the portfolio design or changing recommendations to meet the new goals.
This will be an ongoing process over hopefully quarters, years, and decades. The initial financial plan is just the start of the journey.