The process of estate planning requires different areas of expertise to work together on the legal, financial, and insurance side. With this in mind, we take a team approach in our strategy, allowing several disciplines to work together in providing products, services, and guidance in making your estate plan come to life. Bryson will create a team for you based on your estate planning objectives.

First, we meet with our client to gain a clear understanding of their objectives through a comprehensive fact-finding session.

Next, we leverage the varied skills of our client’s investment management team to develop a plan based on their goals.

From there, we work with our client to prioritize each strategic step of their customized plan and begin the implementation phase.

The last, and perhaps most crucial part of the process, is monitoring the plan to make sure each life-changing event is addressed, with the plan updated accordingly.

Because of our strong network of business partners, we seek to provide you with the most competitive rates on our insurance products. With our extensive list of insurance products and annuities, we can undoubtedly find one that suits your needs. Below are some of the more common types we offer:

• Whole Life
• Universal Life
• Fixed Annuity
• Variable Annuity
• Variable Universal Life
• Term Life
• Survivorship Life
• Long-Term Care
• Disability Income
• Key Man Insurance

We offer many other programs to assist you in growing and protecting your wealth and managing your risk such as customized solutions in business continuity planning, providing key employees with disability income, and reviewing buy-sell agreements for your business. These are only some of the common programs we offer. If there is something more specific that you are looking for, we will strive to find a solution that works for you.

The Financial Planning Process consists of the following six steps:

1. Establishing and defining the client-planner relationship

The financial planner should clearly explain or document the services to be provided to you and define responsibilities on both sides. They should completely explain how the planner will be paid and by whom. You and the planner should agree on how long the professional relationship will last, and how decisions will be made.

2. Gathering client information

The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results, and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need.

3. Analyzing and evaluating your financial status

The financial planner should analyze the information they gather during discovery meetings to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities, and cash flow, current insurance coverage, investments, and/or tax strategies.

4. Developing and presenting financial planning recommendations and/or alternatives

The financial planner should offer financial planning recommendations that address your goals based on the information you provide. The planner should review the recommendations with you to help you better understand them. allowing you to make informed decisions, and following this, listen to your concerns, revising the recommendations as appropriate.

5. Implementing the financial planning recommendations

You and the planner should agree on how the recommendations will be carried out. They may carry out the recommendations or serve as your “coach,” coordinating the entire process with you and other professionals, such as attorneys or stockbrokers.

6. Monitoring the financial planning recommendations

You and the planner should agree on who will monitor the progress towards reaching your goals. If it has been decided that the planner will oversee the process, they should report to you periodically to review your situation and adjust the recommendations, as needed, as your life changes.

Best Practices When Approaching Financial Planning:

• Set measurable goals
• Understand the impact your financial decisions have on other financial issues
• Reevaluate your financial plan periodically
• Start now – do not assume financial planning is for when you are older
• Start with what you have – do not assume financial planning is only for the wealthy
• Take charge – you are in control of the financial planning engagement
• Look at the big picture – financial planning is more than just retirement planning or tax planning
• Do not confuse financial planning with investing
• Do not expect unrealistic returns on investments
• Do not wait until a money crisis to begin financial planning

You are the focus of the financial planning process. The results you get from working with a financial planner are as much your responsibility as they are those of the planner. To set yourself up for the most optimal outcome, be prepared. Here are some ways to avoid common mistakes:

Set measurable financial goals

Set specific targets. What do you want to achieve, and when is your target date? For example, instead of saying you want to be “comfortable” when you retire or that you want your children to attend “good” schools, you need to quantify what “comfortable” and “good” entail so you will know when you have reached those goals.

Understand the effect of each financial decision

Each financial decision you make can affect several other areas of your life. For example, an investment decision may have tax consequences that are harmful to your estate plans. Or, a decision about your child’s education may affect when and how you meet your retirement goals. Remember that all of your financial decisions are interrelated.

Re-evaluate your financial situation periodically

Financial planning is a dynamic process. Your financial goals may change over the years due to changes in your lifestyle or circumstances, such as an inheritance, marriage, birth, the purchase of a house, or a change in job status. Revisit and revise your financial plan as life changes to ensure you stay on track with your long-term goals.

Start planning as soon as you can

Do not delay your financial planning. People who save or invest small amounts of money early, and often, tend to do better than those who wait until later in life. Similarly, by developing stringent financial planning habits such as saving, budgeting, investing, and regularly reviewing your finances early in life, you will be better prepared for whatever curve balls life might throw your way.

Be realistic in your expectations

Financial planning is a common sense approach to managing your finances in order to reach your life goals. It cannot change your situation overnight; it is a lifelong process. Remember that events beyond your control such as inflation or changes in the stock market or interest rates will affect your financial planning results.

Realize that you are in charge

If you are working with a financial planner, be sure you understand the financial planning process and what the planner should be doing. Provide the planner with all relevant financial information. Ask questions about the recommendations offered to you, and play an active, educated role in the decision-making process.