The PJS Prosperity Roadmap is a clear path to navigating the complexities of wealth management and achieve long-term financial prosperity.
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STEPS
ON YOUR JOURNEY
We believe in building strong, open relationships with our clients. To demonstrate this commitment, we want to provide you with a detailed overview of our Prosperity Roadmap process, step-by-step, to give you a transparent and comprehensive understanding of what you can expect from our collaboration and how we will work together to achieve your goals.
Estimated Duration: 15 – 30 minutes
Focus:
• Learn about where you are today and what’s on your mind, i.e.,
your financial situation, goals, and concerns.
• Briefly share key aspects of our firm’s processes and unique
value proposition.
Purpose:
Assess a mutual fit between your needs and our firm’s services, explore working together, and affirm next steps.
Outcome:
A mutual decision is made to move forward and our first meeting is scheduled. A qualitative questionnaire (family circumstances, values, expectations, risk tolerance, etc.) is shared to be completed prior to our first meeting.
2A: 1st Meeting
Estimated Duration: 60 – 90 minutes
Focus:
• Listen and learn more about your financial story, priorities,
concerns, and objectives.
• Offer additional details on our firm’s story, specifically, our team approach to holistic wealth planning, the services to be provided,and how PJS is compensated for providing the services.
Purpose:
Get a clearer picture of your overall financial situation, dig into the questions that initially led you to us, and determine if our wealth management approach can help.
Outcome:
A mutual decision is made to move forward to the next step of engagement, Information Gathering.
2B: Information Gathering
Estimated Duration: 1 week
Focus:
Identify and prioritize your goals. A quantitative questionnaire (income, expenses, assets, liabilities, employee benefits, investment accounts, taxes, insurance coverage, estate plans, etc.) is completed and statements will be collected if applicable.
Purpose:
Obtain sufficient information to assess your personal and financial circumstances.
Outcome:
The decision is made to move forward and use the information gathered to analyze your current course of action and develop potential alternatives and financial planning recommendations.
3A: Analysis & Development of Financial Planning Recommendations
Estimated Duration: 2 weeks
Focus:
Analyze the advantages and disadvantages of your current course of action and current financial position.
Purpose:
Determine if your current course of action maximizes the potential for you to meet your goals.
Outcome:
Create a concise one-to-two-page outline summarizing our findings and potential recommendations designed to be used as a roadmap to your financial future.
3B: 2nd Meeting – Presentation and Review
Estimated Duration: 60-90 minutes
Focus:
Review and discuss your goals, our observations and findings, and our initial recommendations for your personalized financial roadmap.
Purpose:
Ensure you understand and are comfortable with the financial planning concepts presented, give you the opportunity to ask questions, provide feedback and share insights, and amend as needed.
Outcome:
The decision is made to move forward with prioritizing and implementing the financial planning roadmap, while setting a meeting cadence to ensure the shared responsibilities are being achieved.
Estimated Duration: 6-8 weeks
Focus:
Define your responsibilities and PJS’ role in implementing and monitoring the financial roadmap.
Purpose:
Lay foundation for a successful long-term partnership focused on achieving your goals.
Outcome:
The decision is made to move forward:
• Share essential regulatory documents (Privacy Policy, Client Relationship Summary, ADV Part 2A and 2B, and Rollover Disclosure Statement).
• Complete and sign PJS and custodial agreements and begin opening and transferring accounts.
• Develop a personalized Investment Policy Statement (IPS), which outlines one’s investment goals, risk tolerance, and asset allocation strategy.
5A: Year 1 Planning
Duration: 12 months and ongoing thereafter
Focus:
Initiate planning activities based on identified priorities to be completed in the first year, e.g., review and optimize insurance coverage, update estate plans, develop strategies for child’s education, retirement income planning, etc.
Purpose:
Build a strong foundation for your financial future.
Outcome:
Completing short-term goals that were initially outlined and begin making significant progress towards long-term goals.
5B: Education
Duration: Ongoing
Focus:
Address your questions, share insights on relevant topics, monitor your progress and amend as life changes.
Purpose:
Ensure you feel confident, comfortable, and well-informed in actively participating in your financial roadmap.
Outcome:
Receive quarterly performance reports, economic commentary, and receive access to Navigator, your personalized, online financial portal.
5C: Monitor
Duration: Ongoing
Focus:
Establishing monitoring and updating responsibilities.
Purpose:
Keep you on track to achieve your long-term financial goals and objectives.
Outcome:
Conduct regular reviews of your investment portfolios, rebalance portfolios to target allocations outlined in your IPS, and update goals, recommendations, or implementation decisions.
