Thompson Creek's process begins with three meetings to get things started. A Discovery Meeting, to learn about your dreams, goals and objectives. An Implementation meeting to begin working on any items of immediate need. Finally a goal progress meeting to review and update you on where you stand relative to what you wish to accomplish.
Then each year we cycle through our annual three meeting process where we address and review your entire financial situation to help you keep your financial house in order.
The Thompson Creek Way: What We Will Deliver to You
- 1. Your Strategic Plan
-
A complete and thorough annual update of your Comprehensive Written Strategic Plan, focusing on your values and goals and benchmarking your progress toward achieving them.
During the annual plan review:
- Our Financial Planning Team will:
- Update all your Retirement Goals and Income Projections.
- Develop a Written Plan for Cash Reserves
- Develop a Written Plan for each individual financial asset
- Develop a Written Plan for achieving each goal
- Develop a Written Estate Plan
- Based on the Comprehensive Written Strategic Plan our Risk Management Team:
- Will develop a Written Strategy for addressing any risks to that plan, and what legal steps can be taken to reduce them.
- Will develop a Written Strategy for insuring you have the Right Kinds and the Right Amounts of each type of insurance.
- Our Financial Planning Team will:
- 2. Your Implementation Plan
-
Develop an Annually Updated Implementation Plan summarizing your financial plan into a simple chronological list of action steps required to create the greatest probability that you will achieve your goals over the years.
- 3. Progress Reports
-
Delivery of a progress report to you at least three times a year. This simple summary of your assets is designed to show you the progress you are making benchmarked against the goals you have set for yourself.
- 4. Investment Strategy Review
-
Two discussions with you annually on the most appropriate investment strategy for reaching your goals. The goal of this discussion is to give you the "big picture" about your financial situation, give you a summary of the strategy going forward and also to review your Implementation Plan with you.
- 5. Income Tax Planning
-
During the last two months of each year we will do serious income tax planning in concert with your CPA with two objectives in mind: Seek ways to reduce taxes, and… Make sure there are no "surprises" come next April.
- 6. Income Tax Preparation
-
During the first quarter of each year we will work with your CPA to insure that tax returns are filed on time and your CPA has all the information they need to make the best decisions possible.
- 7. Estate Planning
-
Estate Planning: We will establish an Estate Plan within the 1st twelve months of you joining with us that will be reviewed and updated as necessary whenever the law or your situation has changed.
At minimum, once every five years we will review and update your Estate Plan with the objective of:
- Establishing a plan for your money to make it into the next generation and to survive beyond that, and…
- Endeavoring to create a structure that will bring your heirs closer together, as opposed to many Estate Plans, which create animosity and conflicts about the money after you’re gone.
Working closely with your CPA and Attorney, our team of Financial, Estate, Tax and Insurance Planners will give you the strongest possible team to accomplish your goals. If you do not have your own CPA and Attorney, we will gladly help you choose appropriate professionals to help you.
- 8. Goal Strategy
-
We commit to contacting you proactively prior to every goal date you have established to give you the "game plan" for the accomplishment of each of your goals.
- 9. Cash and Debt Management
-
We work with you to establish adequate cash reserves to handle financial issues that come up in life. This involves establishing a debt elimination plan as well as major purchase assistance. For example, when it’s time to buy a car, we want to help make sure you get a good deal on the price and we will make a recommendation as to the smartest way to pay for it. Buying or refinancing a house or any other major purchase would trigger additional help from us.
- 10. Insurance Review
-
Review every kind of insurance and 1. Recommend the right kinds & amounts of insurance, 2. Be sure there are no "coverage gaps" which might endanger the financial plan, and 3. See what, if anything, can be done to reduce premiums for the clients.
If you’d like to talk further with us about your unique situation, please contact us today. There is no charge for any initial discussions.