Financial Planning

Some Investment Management firms claim to do Financial Planning.
We set the bar on what Financial Planning should be.

There are a lot of things you want to accomplish financially. However, we understand it can be hard to know exactly how to achieve your financial goals. See below how we help our financial planning clients.

Our Approach to Financial Planning

We take an all-inclusive, goal-driven approach to financial planning, where we work with you to satisfy both your financial needs and wishes over time.

Fiduciaries First and Forever:

Unlike some in our industry, we are required by law to always act in your best interest. No exceptions. Every piece of advice our qualified and credentialed advisors give must be to your advantage.

Not Just Investment Advice:

Instead of just considering your portfolio, we find it necessary to evaluate how elements such as insurance, taxes, savings and expenses interact with one another and the consequences involved. By understanding all of the moving parts, we can make smarter financial decisions.

A Strategy Built Around Your Goals:

Every person has a unique set of circumstances that shapes their attitude towards money. So shouldn’t your financial plan be designed around that? We believe setting your goals and understanding your preferences towards money first will not only provide guidelines for how your plan should be designed, it will ensure success over time.

A Living Arrangement:

After we create your financial plan, the work doesn’t end there. We continuously work with our clients annually to ensure their plan stays on track.

Where We Can Help

By taking a comprehensive approach, there are several areas we define as being essential to your overall financial health. Which areas apply to you?

Cash Flow Management: Am I Saving Enough? Am I Spending Too Much?

Optimizing your income and expenses is critical for achieve financial success over time. We work with clients to determine their optimal budgeting, debt servicing and savings capacity in order to better position themselves for financial success.

Insurance Planning: Do I have too much Insurance? Not enough? Is my policy right for me?

We don’t sell insurance (or ever want to); however, insurance is a necessary part of anyone’s financial life. We provide an objective perspective on Life, Disability, Long-Term Care and Liability insurance by analyzing how much insurance you need – not how much you should be sold. We then work with insurance experts to ensure you have the right type of coverage – all without the worry of commissions.

Education Planning: Will putting my children through higher education disturb my Retirement plans?

A Graduate Degree is the new Bachelor Degree today. Experiencing more than four years of education costs can derail financial goals as higher education becomes the norm. We work with our clients to pinpoint education costs and identify available resources outside of personal capital (Government Grants, Scholarships, Financial Aid) for conquering education objectives.

Investment Planning: If the market tanks, will I have enough money? How should my portfolio be allocated?

Many portfolios have no direction. We believe your portfolio should have a purpose – built for achieving your specific financial goals. If we understand your objectives, we can develop individual investment strategies that considers each goal’s return target, risk tolerance and time horizon. By having an optimal mix of investment assets tailored towards your goals, we can raise the probabilities of successfully realizing your financial wishes over time.

Retirement Planning: Will I be OK in retirement? How much should I be saving?

Retirement, to most people, is an abstract thought that is believed to work itself out once arrived. After all, looking 30 years into the future, how could you possibly understand what to expect? We believe that there is a better way to understand what one can expect during retirement. First, by getting a true sense of your costs during retirement, we can better plan for what your lifetime spending will be. Second, by understanding all of your resources during retirement, we can optimize Social Security, part-time income and tax-efficient withdrawal strategies that will help extends the life of your portfolio.

Estate Planning: Will my family be OK if I get hit by a bus? How do I preserve my legacy?

Your estate plan is a critical part of fulfilling your legacy. We are not Estate Attorneys, but we will help identify your estate wishes and the next steps for putting those wishes into play. We can help identify what estate documents are needed, beneficiary designations and the proper account registration types based on your individual circumstances.

What To Expect: How We Build Your Financial Plan

Data Organization: A plan is only as good as the information provided. When you hand off your financial statements and documents to us, we organize and review all of data for you. This way we can keep all of your information tidy, and ensure we are only using the most accurate information for your plan.

Plan Development: Once organized, we look at your current financial picture and identify opportunities for achieving your financial objectives. We start by identifying any areas of concerns that need to be immediately addressed and then create strategies for optimizing resources in order to achieve long-term financial goals.

Testing and Modeling: We then test our strategies by running financial models to understand which scenario will be best for achieving your financial goals.. For our modeling, we incorporate sophisticated financial planning techniques that uses Monte Carlo analysis to give us a more realistic picture of what to expect in the future.

Plan Implementation: We translate your overall financial strategy into an action plan which includes asset allocation, suggested account types, withdrawal strategy, savings and transfer amounts, insurance policy selection and estate planning direction.

Plan Monitoring: We meet with our clients regularly to review their overall progress in accomplishing the execution strategy and ultimately moving towards their goals. We do regular investment reviews to track if your portfolio is on schedule with meeting your financial goals. Additionally, there are always adjustments to consider, so the plan monitoring acts as a method for adjusting to life events as the occur.

What To Expect: Your Financial Planning Experience

Financial Planning Questionnaire:

Our process starts with filling out our financial planning questionnaire. This is where we get a better understanding of your financial goals and attitude towards money.

Discovery Meeting:

Once the questionnaire is completed, we discuss the planning process and more detail on what you want to accomplish. This gives us additional color for creating better-aligned financial planning strategies.

Resource and Assumptions Acknowledgement:

After your data is organized, we will send you a report listing all of the information on file. This way we can identify any gaps in the data needed for your plan.

Plan Recommendations Meeting :

After we build your financial plan, we set time to review the details of our recommendations. The goal of this meeting is to help our clients understand our recommendations so they can be comfortable in making decisions. Once we review the details of our analysis, the client will be in a position to move forward with the plan, or request additional changes.

Next Steps/Plan Tracking:

Once you agree with the finalized plan, we go over the steps required over time. We give our clients access to a personal financial website for tracking their progress towards their financial goals and knowing what steps need to come next.

Plan Update Meeting:

Once a year, we set time to discuss the last 12 months – this includes progress towards financial goals and review any major life changes that might effect your financial plan.

Access to Your Personal Financial Website:

Our BCM financial portal is your personal financial management website that makes it easy to organize and monitor your finances.

  • All of Your Accounts in One Place
  • Monitor Investments
  • Track Spending
  • Secure Document Vault
  • Utilize Personal Financial Reports
  • Highest Security Standards in Financial Industry

At BCM, financial planning and investment management go hand in hand.

Learn about our investment process here