"Three Thirds" Review Process
1ST THIRD OF THE YEAR PLAN REVIEW
Financial Plan Update & Review
Annual update of net worth & cash flow statement
Consistent benchmarking of progress toward desired outcomes
Stress test plan with Monte Carlo simulations and various planning scenarios
Financial Planning Checklist Update & Review
Annual update of net worth & cash flow statement
Consistent benchmarking of progress toward desired outcomes
Stress test plan with Monte Carlo simulations and various planning scenarios
Review Financial planning items that have been accomplished so far
Identify & prioritize additional planning objectives for the year, schedule action items and assign completion date
2ND THIRD OF THE YEAR CHECK-IN/PORTFOLIO REVIEW
Check-in on Completion of Planning Items for the Year
If not complete, confirm ownership of tasks and timeline of completion
Agree to new timeline and schedule completion
Discuss 2nd Half of the Year
Anything CWM should be aware of? – Major purchases, life events, liquidity needs, etc.
In Depth Review of Client's Portfolio
Economic and capital market update
Update on current asset class tilts (overweight, neutral, underweight)
Thesis of existing holdings in client's portfolio
Review realized & unrealized capital gains, portfolio rebalancing, tax loss harvesting & rate of return results
3RD THIRD OF THE YEAR TAX PLANNING MEETING
Scheduled with or without CPA based on client's needs
Review current years potential tax burden and discuss year end action items (i.e. retirement contributions, annual gifting, charitable giving, required minimum distributions)
Discuss following year's tax strategy and identify action items