Obtain Information
Information is gathered from several sources, primarily from account statements and direct contact with the client. If necessary, The Palmer Knight Company collects information concerning the client's current investments, retirement plans, tax returns, estate planning documents, insurance policies, and other important financial documents.
|
Determine Objectives and Priorities
The firm helps clients determine their goals, needs, and priorities through discussion and questions. Some important information gathered during this stage includes the client's current cash needs from investments, spending and savings goals, and financial priorities. Common priorities include retirement at a certain age, the ability to spend at a given level in retirement, maximizing tax-deferred and tax-free savings, and special needs such as selling a business, college cost planning, elder care planning, purchase of a new home, or other large expense items.
|
Assess Attitudes and Expectations
The Palmer Knight Company assesses the client's attitudes towards investments and expectations. Common discussion items include attitudes towards various investment classes and financial planning in general, the ability to save as planned, expectations for equity market returns, and expectations of the relationship with investment counseling.
|
Determine Time Horizons
The Palmer Knight Company determines the time horizons important to the client's investment plan. Important time horizons include remaining income-earnings years, periods of financial need for insurance, time until children or grandchildren begin college, and other time periods with implications to the investment plan.
|
.