Self Assessment
The journey begins with a SELF® Assessment. This is an obligation and cost free process that enables us to assess how we may be able to help you and for you to determine whether CB Financial is the right team for you.Your SELF® Assessment entails:
- a 20 to 30 minute conversation about your perceptions of your financial soundness… where you’re at; (if you had a magic wand) where you’d like to be; and what you’ve been doing about getting there; and
- a personalised report that provides an overview of your perceptions; our assessment of how well you’re travelling and some hints on what could be done to improve each aspect of your financial soundness.
Establishing the Foundation
Once we agree that there is a way forward together, the next step is to establish the foundations for your journey to financial soundness.We will work with you to:
- Identify the things you must do and those you would like to do over the short, medium and long term to achieve your goals, and resolve those issues identified in your SELF® Assessment.
- Complete a comprehensive profile of you, your family and (if relevant) your business interests, your current financial arrangements and to clearly define your goals, objectives and priorities in life.
- Determine the actions that you must initiate immediately to improve your financial soundness.
Evaluating Alternatives
Based on the agreed actions, we will assess possible scenarios and strategies that align with your goals, objectives and priorities.A strategy paper is presented that compares your current financial position with a range of strategies that may meet your needs.The ensuing discussions and knowledge obtained by this approach helps our clients make decisions that exceed their initial perceptions and deliver real value for cost.
Implementation
Having gained your feedback from the strategy paper, we then develop our recommended strategy and research appropriate products to implement that strategy. We also research other issues that may be relevant to your situation.This information is then collated into a Statement of Advice, which provides comprehensive information, including:
- what we are recommending;
- our rationale;
- the associated risks;
- the advantages in proceeding; and
- the related costs.
If you agree to proceed with all or part of our recommendations, we will prepare the required documentation for your signing. If personal risk insurances are involved we will arrange a suitable time for the telephone application. That’s right, no paper based applications to complete! Once you have completed your part we diligently work through the lodgement of the application to acilitate prompt completion.
Measuring Progress
At the conclusion of any implementation phase and at agreed intervals throughout a year, you will receive a Progress Report, providing an update on your levels of financial soundness; a review of your achievements to-date and forecasts on where you might be headed.Annually, we:
- review your goals and objectives;
- address any changes in your circumstances;
- where necessary, amend plans to improve your level of financial soundness; and agree on the services you require and our fees for the year ahead.
Continuous Improvement
Rarely will you achieve financial soundness in a single breakthrough step. Our focus on continuous improvement means we:
- work with you to incrementally improve your financial soundness over time; and
- improve our knowledge and services to assist you in the attainment of your ultimate goals.
