The Planning Process

When providing comprehensive financial advice tailored to each client’s specific needs, Live Oak Financial Services conducts a process which will:
  • Establish and define the client/advisor relationship, so that both client and advisor can identify what is needed and expected.
  • Gather data keeping in mind that the more information that is available, the more accurate the financial plan will be. This stage may involve both quantitative (i.e., specific data) and qualitative (i.e., lifestyle, risk tolerance, health status) information. While our team will guide you on what specific pre-appointment preparations you should take, typical items reviewed are:


    • Cash flow analysis
    • Pay stubs/income reports                                             
    • Tax returns
    • Wills and trust documents
    • Brokerage statements
    • Insurance policies (life, health, long term care, home, auto, etc)
    • Business arrangements
During this stage specific objectives will be identified, and there may be questions such as:
    • At what age and income level would you like to retire?
    • What level of income would you like to provide to your surviving spouse?
    • How would you want your estate to be distributed
  • Analyze and evaluate financial status, during which we will consider various alternatives to best address objectives.
  • Develop – then present – the financial planning recommendation(s), demonstrating strategies we believe will best help work toward established goals.
  • Implement the financial planning recommendation(s) which we believe will best help work toward these goals.
  • Monitor the client’s plan. Since the only true constant in life is change, we will recommend periodic progress visits, during which time we will address applicable changes such as:
    • Federal tax laws
    • Economic conditions
    • Investment techniques available
    • Goal selection and risk tolerance