What is the Wesling Financial Planning Services Approach?
Are We a Good Fit for Each Other?
It is always our pleasure to host a one hour evaluation session with you. This session aims to determine how close the fit is between your needs and the services of Wesling Financial. If we both agree there is a good fit, we sign an engagement agreement and a fiduciary oath to proceed. What determines this fit? Your expectations, our services, the personal chemistry between you and your Wesling Financial planner, and the suitability of our fee structure to your unique situation. Please phone to schedule this introductory appointment.top
Getting Started-The Engagement Agreement
Once we decide to move forward, you'll see how our Engagement Agreement clearly explains our joint responsibilities. The Engagement Agreement includes your schedule of Financial Services with complete descriptions and fees. You receive the benefit of a clear and unambiguous approach to satisfying your financial planning needs.top
Your Financial Plan
We deliver to you a full and comprehensive Financial Plan, meeting the schedule outlined at the time the engagement agreement is signed. There is no need for you to worry about when the plan will be finished. We've already made a commitment to you. Further, we discuss with you the completed plan's most critical components so you understand the key points of what needs to be done first, and why.top
Developing Your Financial Planning Team
Further, this is a living plan that does not sit on the shelf. The plan guides you to the next step toward meeting your financial goals, whether it is to contact an estate attorney, tax accountant, insurance agent, or other immediate need. And here's the best part-you don't take that next step alone! A key differentiator of Wesling Financial's approach is that your advisor accompanies you to these important next step appointments, whether at the offices of the service provider or in the Wesling Financial offices.
This is a critical service, because at the beginning, most of our clients have a general understanding of what is in their plan. Some clients may not have a deep understanding of how details of the plan interconnect, such as the relationship between charitable giving and estate taxes. Together with your Wesling Financial planner, you and the service provider can ensure you receive the best products and services to implement your plan. Further, the service provider may have ideas or specific knowledge to improve the plan, benefiting you and achieving the fulfillment of your goals.top
Once the products are in place to support your financial plan, Wesling Financial enters the monitoring phase of the engagement. Monitoring of your service providers and investments (if you choose Wesling Financial to arrange the investments through a low cost broker-dealer such as Fidelity or Schwab) commences as soon as the investments are arranged to support your risk profile. We contact you to make sure you are receiving all the appropriate paperwork and documents from the service providers, that these documents are in good order, and that you understand them. This provides you with confidence that your plan is being implemented as you direct and that you are not alone in this process.top
We also plan quarterly meetings to help assess progress towards your goals. If Wesling Financial is monitoring your investments, we produce portfolio performance summaries as part of the quarterly review. If another firm is monitoring your investments, then you must ensure Wesling Financial receives statements and trade confirmations. We welcome the representative from the investment firm to these quarterly appointments to review their portion of the plan.
As with the investment representative from an outside firm, the providers of your financial plan's products and services are also invited to quarterly reviews, as appropriate. Wesling Financial encourages all of our clients to invite their product and service providers to attend these appointments. It is so important to us to provide you with a comprehensive and integrated approach to achieving your goals that we reduce your fee by 10% in each quarter a product or service provider attends the quarterly meeting. Wesling Financial's comprehensive Financial Planning Approach ensures that you have investment advice with the fewest conflicts of interest and the most disclosures possible, along with a complete set of knowledgeable service and product providers.top
Year End Review
At the end of the engagement year, we sit down for a comprehensive review. We discuss each part of the plan and its implementation, and perform an evaluation against expectations and benchmarks. Together, we conduct a full review of upcoming events in your life (pay raises, changes in marital status, births, major purchases, contemplated job changes, or any other source of impact to the plan or your outcomes). This could result in the need to update parts of your plan or change services, products, or providers. If this is the case, we review the proposed updates with you and your service and product providers, and then, with your approval, update your plan for the coming year.top