HFG’s Advisory process includes the following steps:
1. Defining the client-advisor relationship
Your HFG advisor will clearly explain and document the services to be provided to you and define both the advisor and client responsibilities. Your advisor will explain fully how fees are to be paid and by whom. You and your advisor will agree on how long the professional relationship will last and on how decisions will be made.
2. Gathering data
Your HFG advisor will ask for information about your financial situation. You and your advisor will mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. Your advisor will gather all the necessary documents before giving you the advice you need.
3. Analyzing your financial status
Your HFG advisor will analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
4. Developing and presenting recommendations
Your HFG advisor will offer recommendations that address your goals, based on the information you provide. Your advisor will go over the recommendations with you to help you understand them and make informed decisions. Your advisor will also listen to your concerns and revise the recommendations as appropriate.
5. Implementation
You and your HFG advisor will agree on how the recommendations will be carried out. Your advisor will carry out the recommendations and serve as your personal “CFO”, coordinating the whole process with you and other professionals such as attorneys and accountants.
6. Monitoring and adjusting
Your HFG advisor will help you monitor your progress towards your goals. Your advisor will report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes.
