A written financial plan is an important document when it comes to understanding and building your future. At Members' Wealth, we've created a comprehensive planning document, the Members' MyPlan.
Do you have a written plan?
Writing down your plan to achieve your goals is an essential step to turn your dreams into reality. It helps you to define your objectives, prioritize your tasks, and stay focused on what matters. When you write down your plan, you are forced to think more clearly and logically about what you want to achieve, why you want to achieve it, and how you plan to get there. You can break down your goals into smaller, achievable steps, and develop a timeline for when each step should be completed. Writing down your plan also makes it easier to track your progress and make adjustments along the way. It is a tangible reminder of your commitment to your objectives, and it can motivate you to stay on track even when faced with challenges or setbacks. Ultimately, writing down your plan is a powerful tool to help you create the life you want and achieve your full potential.
More specifically, creating a comprehensive written financial plan is an essential aspect of managing your finances. Unfortunately, most investors and families do not have one, which can lead to missed opportunities or unexpected risks. That's why Members' Wealth has developed the Members' MyPlan, a comprehensive document that covers the most important topics related to financial planning.
The Members' MyPlan serves as the foundation of your entire wealth plan and is an architectural plan shared by your team for a coordinated approach. This approach includes your advisor, portfolio manager, tax/estate manager, and relationship manager, all of whom work together to help ensure you have a personalized financial plan that meets your specific needs and objectives.
The Members' MyPlan includes several critical components encompassing your personal goals, investment constraints, and restrictions, your view on risk, and your estate plan goals. Additionally, the document memorializes the major decisions made throughout your financial planning journey, making it a living and breathing document that is reviewed with your team regularly.
The Members' MyPlan is designed to be concise and easy to understand, so clients can fully comprehend the plan and make informed decisions about their financial future. By reviewing the document regularly, at least once per year, it remains up-to-date and accurately reflects current financial goals and objectives. Both the client and advisor should sign the document annually or each time a material change occurs, as a commitment from both parties that each understands the current plan and are on the same page.
In conclusion, creating a comprehensive financial plan is critical to managing your finances effectively. By working with a team of financial professionals and creating a Members' MyPlan, investors can feel well-prepared for their financial future. The Members' MyPlan is an investment in your future, helping to ensure that you have a coordinated and comprehensive financial plan that meets your specific needs and objectives.
Do you have a written plan? If not, call us today to get started improving your financial readiness.
Dane Czaplicki is CEO of Members’ Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure over time, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Dane and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs, and is determined to put service before all else.
Dane received his MBA from The Wharton School of Business at the University of Pennsylvania and his bachelor’s degree from Bloomsburg University. Outside work, he enjoys spending time with his wife and kids, hiking and camping, reading, running, and playing with his dog. To learn more about Dane, connect with him on LinkedIn.
To get in touch with the Members’ Wealth team today, I invite you to email info@memberswealthllc.com or call (267) 367-5453.
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Advisory services are offered through CS Planning Corp., an SEC-registered investment advisor.