Our Financial Planning Process
A good financial advisor can add the equivalent of +3% in annual portfolio returns through financial advice alone.-Vanguard Research*
We go deep with our clients. We don’t simply check a box when it comes to the planning process. Instead, we strive to create meaningful, positive change within our client’s lives. And we are in a very unique position to do this.
Whether you are saving for retirement, building a real-estate portfolio, or just starting out, the principles are the same. How you earn, spend, and invest your cash-flow will determine your future financial lifestyle. We approach financial planning in a very scientific, data-driven way. We use a cash-flow based financial planning process to determine the best course of action you should take. When determining the different possible outcomes, we rely heavily on comparing different possible scenarios. If you’re ready to start planning for your future, a Bull Oak Capital certified financial advisor is here to help.
Questions We Can Answer
How much money should I be saving? How much should I set aside for emergencies?
When should I file for Social Security? Should I consider my other income types?
How should I consider medical costs during retirement? Does it cost more or less?
When can I retire? Can I afford to maintain my current lifestyle throughout retirement?
Should I purchase investment properties? How long will it take before I break-even?
What is the most optimal tax-saving strategy? Can I lower my tax liability while working?
Is a 529 savings account the best option? How much should I be saving per year?
I have a pension. Which annuity option is best? Should I take the lump sum option?
This is only a representative list of common questions. Contact us for further details.
See How We Create Financial Plans
Watch this webinar to learn more about our unique approach
Comprehensive Planning Process
The Financial Planning Process is a four-step process that is designed to get you on track. Our goal is to not only show you the path to financial success but to also act as a guide to help you achieve it.
We begin the financial planning process with a 3-hour Fact-Finding Session, the most important step of our advisory process. We use a highly effective, deep-dive mind mapping method to accomplish this. We use the Fact-Finding Session as an opportunity for our San Diego financial advisors to learn about your long-term goals when it comes to your retirement planning, financial relationships, assets and debts, and your current and expected budgetary needs.
By now, we have a clear understanding of what you are trying to accomplish and what your current financial life looks like. We have an exhaustive internal planning workflow we adhere to, including several drafts of alternative scenarios we build out for our clients. We take into consideration tax status by year, portfolio balances, passive income strategies, and asset allocation throughout the years. If required, we will reach out to our clients for further clarification and idea generation.
Once we have drafted the financial plan, we will schedule a date to review. We will review your current financial status, our recommended course of action, plus alternative scenarios considered.
After a course of action has been agreed upon, we will begin to execute on those plans. One of the primary duties a financial advisor has is to ensure that his/her clients is to stay on track. As such, we reach out to our clients multiple times per year to schedule a review session to see how things are progressing, If needed, we need to adjust the client’s plan as the facts change. Of course, a financial plan is a living document and it will need to be updated as time passes and as life takes its unexpected course.
Our Annual Meeting Process
We actively reach out to our clients throughout the year to ensure that you are on track to reach your financial goals. We have established the following schedule and believe it to be an excellent cadence for financial success. Note that this process is typically initiated after the client completes the comprehensive financial planning process outlined above.
JAN – APR
At the beginning of every year, we like to meet with our clients to discuss their annual outlook, estimated cash flows, and goals so we can update their financial plan accordingly.
MAY – AUG
This session is an opportunity to keep both the client and Bull Oak accountable for any deliverables and to ensure that all tasks are being accomplished.
SEP – DEC
While we do not attempt to take the place of a client’s tax professional, we are in a unique place to help minimize tax liability, especially before the year ends. This can include tax-loss harvesting, retirement plan funding, deductions, and more.
Of course, life can be unexpected and we regularly meet with our clients outside of this schedule. We have an open door policy and are happy to assist our clients when they require our advice.