At JL Smith Holistic Wealth Management, we believe that true financial wellness and security comes from a holistic approach to wealth management — one that includes financial planning, asset management, tax management, protection planning, and legacy planning.
How Is a Holistic Financial Plan Created?
We use a holistic planning process known as The Bucket Plan® to address all aspects of your financial well-being. This 4-step process starts with the discover phase.
The Discover Phase: Setting the Foundation
The Discover Phase is the cornerstone of our holistic wealth management process. This initial meeting allows us to get to know you better, understand your financial landscape, and identify your concerns and priorities.
Key Aspects of the Discovery Phase:
Understanding Your Goals and Objectives:
During the discovery meeting, we ask our clients to articulate their three-year vision. What needs to happen for them to feel good about the progress they've made? The conversation focuses on personal, professional, and financial goals, helping define a clear roadmap for your future.
Identifying Your Concerns and Priorities:
A critical objective of the discovery phase is to uncover any concerns you may have. These concerns could range from running out of money in retirement to maximizing your assets' growth potential. By addressing these early, the process helps ensure that the final plan is robust and comprehensive.
Family Dynamics and Longevity:
Understanding your family circumstances, such as aging parents and young children, is crucial. It helps tailor the financial plan to accommodate not just your retirement needs but also potential future responsibilities and inheritance planning.
Existing Plans and Assets:
We take an inventory of pre-tax, post-tax, and tax-free assets. This step also includes evaluating existing financial plans and determining whether you are on track to meet your goals.
Concerns and Priorities Worksheet:
We guide you through a worksheet that ranks common financial concerns and priorities. This helps our advisors understand what is most important and guides the focus for subsequent meetings.
What’s Next?
This detailed discover phase is just the beginning. Learn more about this crucial first step by watching or listening to the following episodes of our Holistic Wealth & Health Podcast:
Episode 15: Grasping Your Financial Needs, Step 1: Discover Part 1
Episode 16: Grasping Your Financial Needs, Step 1: Discover Part 2
Once we discover where you are in your financial journey, we can design a plan of where you want to go, deliver that holistic plan, and remain dedicated to you and your family, monitoring your plan as things change. If you’d like to learn more about our holistic planning process and more general health and wellness insights, check out our Holistic Wealth & Health Podcast, which will guide you through the remaining steps of The Bucket Plan.®
Take Your Next Step
Are you ready to experience a holistic approach to retirement planning - one that puts you at the center? We invite you to schedule a complimentary consultation with our team. During this introductory call, we'll make sure we're the right fit for each other and start the conversation about your ideal retirement.