The first step to creating your financial plan includes a comprehensive assessment of your current financial situation.

Stifel utilizes a four-step financial planning process:

  1. Assessment of your current financial resources and investment objectives.
  2. Defining a diversified asset allocation designed to meet your stated objectives, time horizon, risk tolerance, and income tax situation.
  3. Developing an investment strategy specific to your situation and circumstances to implement your asset allocation.
  4. Monitoring and reviewing your investments to ensure they continue to meet your objectives.

Before developing your custom investment plan and selecting investment management options, it is crucial to have a complete understanding of your goals, financial resources, and risk tolerance.

Your assessment will review your short- and long-term financial objectives, accurately detail your financial resources, quantify your annual savings program, and define your tolerance for risk.

Assessing your financial situation includes reviewing:

  • Financial Goals: Your financial objectives might include an independent and comfortable retirement, increased income for current spending, or the benefits of a college education for your children or grandchildren. During your assessment, Stifel will help you document all of your goals and the time-frame and priority for each.
  • Financial Resources: A smart investment program considers your current financial situation, as well as future circumstances. Stifel will help you categorize your financial assets as taxable, qualified tax-deferred, and/or annuity tax-deferred. Your assets will also be categorized by asset class such as large capitalization stocks, corporate bonds, certificates of deposit, etc.
  • Risk Tolerance: Each investor differs in the amount of risk he or she is willing to accept in an investment program. Investors generally fall into categories such as conservative, moderate, aggressive, or somewhere in between. Defining your risk tolerance will depend upon your investing experience and understanding of, as well as comfort level with, volatility. Stifel will work with you to gather the information necessary to make disciplined and prudent investment decisions.

Contact Bob today to find out more about assessing your financial situation and preparing a comprehensive financial plan through Stifel. After completing your assessment, Stifel will have the foundation necessary to begin defining your asset allocation.

Continue to step two: Define your Asset Allocation

Go back to The Stifel Financial Planning Process